Africa’s richest men
According to Forbes, Africa’s billionaires are worth an average of $4.1 bn. Forbes’ annually published billionaire’s list (which began in 2011) tracks only those billionaires whose primary residence is Africa or whose primary business interest is in Africa. This is why billionaires such as Sudan’s Mo Ibrahim and Egypt’s Mohammed Al-Fayed are not on the list.
Forbes calculates net worths using stock prices and currency exchange rates, in this case from the close of play on 8 January 2021. Business valuations are calculated using estimates of revenues or profits and applying current price-to-sale or price-to-earnings ratios for comparable public companies. The list follows, with Nigeria’s Aliko Dangote leading the pack for the *tenth* year in a row.
- Aliko Dangote – Nigeria
- Net worth: $12.1 billion
- Origin of wealth: Cement, sugar
- Interesting facts – there are many noteworthy elements but there’s this: Dangote started young; as a child he bought and sold sweets to friends, keeping the profits. And this: Dangote’s philanthropic foundation has given more than $100 million to a variety of causes, so he’s well on the way to fulfilling his ambition to be Africa’s biggest philanthropist
- Aliko Dangote in a quote: ‘In the journey to success, tenacity of purpose is supreme.’
2. Nassef Sawiris – Egypt
- Net worth: $8.5 billion
- Origin of wealth: Construction and engineering, also chemicals
- Interesting facts – Sawiris is a football fan; he’s the joint owner of Aston Villa Football Club. The family’s philanthropy is conducted largely through its Sawiris Foundation for Social Development.
- Nassef Sawiris in a quote: “It’s one step at a time. We have accomplished the first step.” (on Aston Villa’s future).
3. Nicky Oppenheimer &family –South Africa
- Net worth: $8 billion
- Origin of wealth: Diamonds
- Interesting facts – He owns the world-famous Tswalu Kalahari Reserve, the largest of its kind in South Africa. The family also fund the Oppenheimer Memorial Trust, which confers grants to a variety of public institutions, particularly those working in education and the arts.
- Nicky Oppenheimer in a quote: ‘I am a great believer that if you know how to operate in Africa, there are unbelievable opportunities’’.
4. Johann Rupert & family – South Africa
- Net worth: $7.2 billion
- Origin of wealth: Luxury goods
- Interesting facts – An accomplished sportsman himself (Rupert was a former cricketer), Rupert owns part of Saracens English rugby team. He is well known for his philanthropy, too. He founded the Laureus Sport for Good Foundation, which uses sports to improve the lives of disadvantage youth around the world, and is a founding member of the Business Partners Limited, which has created more than half a million South African jobs since its inception. He also heads Peace Parks, an important South African conservation initiative that creates conservation areas and hundreds of jobs for South Africans.
- Johann Rupert in a quote: ‘I just want to be master of my own time. It is ironic that someone in the watch business should not be in control of his own time.’’
5. Mike Adenuga – Nigeria
- Net worth: $6.3 billion
- Origin of wealth: Telecom, oil
- Interesting facts: Nigeria’s second wealthiest man made his first million in his twenties by selling lace and distributing soft drinks. Here’s another: whilst studying for his MBA at Pace University, Adenuga supported himself by working shifts as a taxi driver. Famous for his philanthropy, Adeuga has given millions to humanitarian relief, the arts, education and religious institutions across Nigeria.
- Mike Adenuga in a quote: ‘The harder you work, the luckier you get’.
6. Abdul Samad Rabiu – Nigeria
- Net worth: $5.5 billion
- Origin of wealth: Cement, sugar
- Interesting facts: Rabiu is Africa’s third-richest man. A respected philanthropist, Rabiu donated $1 million towards the Boko Haram Victims Support Fund. His philanthropic activities are conducted through the BUA Foundation. Notable achievements of the Foundation include the construction of a 7,000 sqm paediatric ward at the Aminu Kanu Teaching Hospital; more recently the Foundation has directed its resources towards the fight against Covid 19.
- Abdul Samad Rabiu in a quote: “Why is Nigeria importing rice? Why is Nigeria importing sugar? We can do those things,” say Rabiu. “We have a young, teeming population that needs jobs.”
7. Issad Rebrab & family – Algeria
- Net worth: $4.8 billion
- Origin of wealth: Food
- Interesting facts: Rebrab’s parents fought in Algeria’s war of independence from France. Issad Rebrab’s life has not been without controversy – in 2019 he was accused of tax, banking and customs offences.
- Issad Rebrab in a quote: ‘One thing I truly love is creating wealth and generating jobs. So in this manner, I feel useful to my country, as well as Africa, and the countries where we have made investments. (Source: Atlantico)
8. Naguib Sawiris – Egypt
- Net worth: $3.2 billion
- Origin of wealth: Telecom
- Interesting facts: Naguib Sawiris offered to purchase a Greek or Italian island to provide shelter for Syrian refugees but was turned down. The Sawiris Foundation for Social Development supports Egyptian entrepreneur and gives scholarships to exemplary Egyptian students in tertiary institutions.
- Naguib Sawiris in a quote: “I have a strong feeling in me against injustice. When God says vengeance is mine, I’m disappointed.”
9. Patrice Motsepe– South Africa
- Net worth: $3 billion
- Origin of wealth: Mining
- Interesting facts: Motsepe is a signatory of Bill Gates’ Giving Pledge, which means that he has promised to give half of his fortune to charity. His Motsepe Foundation works to alleviate poverty and improve living standards. Notably, the foundation has pledged R1bn for Coronavirus relief.
- Patrick Motsepe in a quote: ‘One has to set high standards… I can never be happy with mediocre performance’.
10. Koos Bekker – South Africa
- Net worth: $2.8 billion
- Origin of wealth: Media, investments
- Interesting fact: The South African billionaire is revered for revolutionising South African newspaper Naspers into a global digital media and eCommerce conglomerate–perhaps its most famous investment is the investment into Chinese internet company Tencent, a jackpot-winning investment.
- Koos Bekker in a quote: “Failure is often useful. After all, when you succeed all you learn is how smart you are.” (Source)
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