Forbes Africa’s 2022 list of dollar-billionaires

Forbes Africa’s 2022 list of dollar-billionaires

African women need to up their games in their respective trades. Forbes Africa has released its annual list of dollar-billionaires on the continent, and in total, 18 very wealthy citizens make it into this exclusive club, all men.

Nigerian Aliko Dangote remains the richest man in Africa, with his fortune pushing the $14 billion mark.
The cement and sugar production magnate has a comfortable cushion at the top of the tree, and there’s daylight between him and Johann Rupert. The Stellenbosch-based billionaire is second on the list, with $11 billion in the bank.
Another South African, Nicky Oppenheimer, completes the top three with his $8.7 billion fortune.
Egyptian Nassef Sawiris ($8.6 billion) and Nigerian Abdulsamad Rabiu ($7 billion) follow in fourth and fifth respectively.

  1. Aliko Dangote, Nigeria: $13.9 billion
  2. Johann Rupert, South Africa: $11 billion
  3. Nicky Oppenheimer, South Africa: $8.7 billion
  4. Nassef Sawiris, Egypt: $8.6 billion
  5. Abdulsamad Rabiu, Nigeria: $7 billion
  6. Mike Adenuga, Nigeria: $6.7 billion
  7. Issad Rebrab, Algeria: $5.1 billion
  8. Naguib Sawiris, Egypt: $3.4 billion
  9. Patrice Motsepe, South Africa: $3.1 billion
  10. Koos Bekker, South Africa: $2.7 billion
  11. Strive Masiyiwa, Zimbabwe: $2.7 billion
  12. Mohamed Mansour, Egypt: $2.5 billion
  13. Aziz Akhannouch, Morocco: $2.2 billion
  14. Michiel le Roux, South Africa: $1.7 billion
  15. Othman Benjelloun, Morocco: $1.5 billion
  16. Mohamed Dewji, Tanzania: $1.5 billion
  17. Youssef Mansour, Egypt: $1.5 billion
  18. Yasseen Mansour, Egypt: $1.1 billion

Africa’s billionaires are richer than they have been in years. As a group, the continent’s 18 billionaires are worth an estimated $84.9 billion – a 15% increase from 12 months ago and the largest tally since at least 2015.
Soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products and services from telecom to luxury goods ticked up.
For the 11th year in a row, Alike Dangote of Nigeria is the continent’s richest person, worth an estimated $13.9 billion, up from $12.1 billion last year following a 30% increase in the stock price of Dangote Cement, his most valuable asset.
Jumping into the No. 2 spot – up from No. 4 last year – is luxury goods magnate Johann Rupert of South Africa.

A more than 60% surge in the share price of his luxury goods firm Compagnie Financiere Richemont – maker of Cartier watches and Montblanc pens – pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the biggest gainer on the list. South African Nicky Oppenheimer, who formerly ran diamond mining firm DeBeers before selling it to mining firm Anglo American a decade ago, ranks No. 3, worth an estimated $8.7 billion.
The biggest gainer in percentage terms – up 125% – is Strive Masiyiwa of Zimbabwe, worth $2.7 billion (up from $1.2 billion last year). Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune.
Nigerian cement tycoon Abdulsamad Rabiu is $1.5 billion richer after taking yet another of his companies public, following the listing of BUA Cement in January 2020.
In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange with a market capitalization of nearly $2.8 billion. He and his son retained a 96% stake in the company. (Forbes discounts the values of stakes when the public float is less than 5%.)
Only two of the 18 billionaires have net worths that are lower than last year: Koos Bekker of South Africa, who dropped to $2.7 billion from $2.8 billion, and Mohammed Dewji of Tanzania, whose fortune fell to $1.5 billion from $1.6 billion a year ago.
The 18 billionaires from Africa hail from seven different countries. South Africa and Egypt each have five billionaires, followed by Nigeria with three and Morocco with two.
All of the continent’s billionaires are men; Isabel dos Santos of Angola fell off the Forbes list in January 2021.
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