Aliko Dangote Tops Forbes’ List of Africa’s Richest for 12th Year with $10.1 Billion Net Worth

Mubashir Shehu

1 year ago

Aliko Dangote Tops Forbes' List of Africa's Richest for 12th Year with $10.1 Billion Net Worth

In a recent update from Forbes, Aliko Dangote, the Nigerian business magnate, has retained his position as Africa’s wealthiest individual for the 12th consecutive year. As of November 22, 2023, Dangote boasts a real-time net worth of $10.1 billion, reinforcing his standing as a self-made billionaire in the realms of cement and sugar industries.

Forbes’ annual ranking, which initially reported Africa’s 19 billionaires amassing a combined wealth of $81.8 billion in January 2023, reaffirms South Africa’s prominence with five billionaires, followed closely by Egypt and Nigeria. The latest figures reveal a dynamic landscape of wealth distribution, showcasing the diverse sectors contributing to the fortunes of Africa’s elite.

Johann Rupert, the 73-year-old South African luxury business magnate, claims the second spot with a net worth of $9.7 billion. His role as chairman of Compagnie Financiere Richemont, renowned for luxury brands such as Cartier and Montblanc, underscores the variety of industries driving Africa’s economic landscape.

Securing the third position is Nicky Oppenheimer and family, with a net worth of $8.3 billion. The South African heir to the DeBeers diamond fortune played a pivotal role in the world’s diamond trade until 2012, when he sold his 40% stake for a staggering $5.1 billion in cash.

The list further includes notable figures like Nassef Sawiris from Egypt ($6.9 billion), Abdulsamad Rabiu from Nigeria ($6.4 billion), and Issad Rebrab from Algeria ($4.6 billion), each contributing significantly to sectors such as sportswear, cement, sugar, and food processing across the continent.

Notably absent from the roster is any female representation among Africa’s richest. The top echelons of wealth are currently dominated by male entrepreneurs, reflecting an area where diversity and inclusion could see further growth in the future.

Aliko Dangote’s journey to wealth traces back to his entrepreneurial spirit, as he recalls buying sweets in his youth, distributing them for sale, and retaining the profits. His business empire, including Dangote Cement, the continent’s largest cement producer, and a fertilizer plant that commenced operations in March 2022, solidifies his influence across diverse sectors.

As the year concludes, these rankings offer a snapshot of Africa’s economic landscape, highlighting the impressive achievements and contributions of its wealthiest individuals. The continent continues to foster growth and innovation, with these billionaires at the forefront of driving economic prosperity in their respective nations.

Source: Sahara Reporters

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