What is the richest city in Nigeria
RankingThey are the richest Africans
In January 2020, Forbes compiled a list of the richest people in Africa. The business magazine found dollar billionaires in just eight of the continent's 54 countries. However, that was twice as many states as in 2011.
According to Forbes, this is what the ranking of African countries with the super-rich looked like at the beginning of 2020:
- 1 Egypt and South Africa: five billionaires each
- 3 Nigeria: four
- 4 Morocco: two
- 8 Algeria, Angola, Tanzania, Zimbabwe: one each
Africa's super-rich and the corona crisis
But even in Africa, being a billionaire in Corona times is not set in stone. In mid-March 2020, “Forbes” had 226 fewer billionaires worldwide than just twelve days earlier. We therefore prefer to stick to the annual billionaires list of the business magazine when ranking the richest people in Africa. The former apartheid stronghold of South Africa only had four billionaires on it. Nigeria had gained a super-rich for this, and the same was true for Egypt. In general, the top 10 seem to show: Africa's richest billionaires seem to have come through the initial phase of the corona crisis quite well.
The “Forbes” ranking basically has a catch: the estimated wealth is converted into US dollars. In this way, fluctuating exchange rates can suddenly destroy or create assets. Currency fluctuations are also dangerous in other ways, even for the super-rich. Zimbabwe banned all foreign currencies and introduced a new dollar in the summer of 2019. According to Forbes, the ensuing inflation caused the country's only billionaire, Strive Masiyiwa, to lose half of his fortune in one go. He was just on the list at $ 1.1 billion.
According to Forbes, these are the richest dollar billionaires in Africa
# 10 Patrice Motsepe
Every second billionaire on the global "Forbes" list had lost their wealth in the spring of 2020. Patrice Motsepe was hit hard. The founder of the South African mining company African Rainbow Minerals was the first black African to join the billionaires' club in 2008. As of April 7, 2020, the 58-year-old's assets had almost halved to $ 1.4 billion (2019: $ 2.4 billion). It was ranked 1513 worldwide. However, the business of the founder of the private equity firm African Rainbow Capital seems to be flourishing during the Corona crisis. In mid-September, Motsepe's fortune had climbed back to $ 2.1 billion, according to Forbes. Maybe Motsepe's descent was intentional. According to the report, the South African was the first African to follow the example of Bill Gates and Warren Buffett in 2013 and announced that he would donate at least half of his fortune.
# 9 Naguib Sawiris
Naguib Sawiris belongs to the minority of the richest people in the world who were able to increase their wealth in the crisis year 2019. It increased slightly from $ 2.9 billion to $ 3.0 billion. That was enough in the "Forbes" ranking worldwide for 680th place. According to the information, Sawiris is the offspring of one of the richest families in Egypt. In 2011 he sold his telecommunications company Orascom Telecom to the Russian group VimpelCom (today: Veon) for a billion dollar amount. The 66-year-old investor is the majority owner of Euronews.
# 8 Abdulsamad Rabiu
All three billionaires in Nigeria are among the ten richest Africans. It starts in eighth place (worldwide: 712th place) Abdulsamad Rabiu. The founder of the conglomerate BUA (cement, sugar, real estate) was able to increase his assets by 50 percent to 2.9 billion dollars within a year. In 2015 he entered the ranking with exactly one billion dollars.
# 7 Mohamed Mansour
The super-rich can only dream of the growth of some African tycoons on other continents. The fortune of the former Egyptian transport minister Mohamed Mansour (72) increased according to "Forbes" by around 50 percent from 2.3 to 3.3 billion dollars. This put the head of the Mansour Group in 590th place worldwide. The group was founded by his father Loutfy. The company, with around 60,000 employees, was reportedly one of General Motors' largest sales partners worldwide and has exclusive rights to Caterpillar equipment in eight African countries.
# 6 Issad Rebrab & family
Issad Rebrab (76, left) was also looking up in the current ranking. The founder and CEO of Algeria's largest privately owned company, Cevital, was worth $ 4.2 billion in April, according to Forbes, $ 500 million more than the previous year. Cevital owns one of the largest sugar refineries in the world as well as production facilities for water treatment devices in Europe. Rebrab was imprisoned for eight months until early 2020 on charges of corruption. Cevital denied a debt of the company boss.
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