More African Billionaires Due To Africa’s Emerging Economy

aliko dangote

Ranked 43rd on Forbes World’s Billionaires List and first in Africa is the Nigerian tycoon Aliko Dangote with a whopping fortune of $20.2bn.  Initially, Forbes estimated his wealth at $16.1bn. in March 2013, ranking him at 43rd; but with gargantuan increase in wealth in so short a time, who knows what rank he could be holding right now? Mr. Dangote was not born with a  silver spoon; he is a self-made billionaire who started in cement business and  is  now a magnate in sugar, flour, and cement industries.

allan gray


South African billionaire Allan Gray holds the second rank on Africa’s list of billionaires with an estimated net worth of $8.5bn. He is the CEO and Financier of his namesake company, Allan Gray Limited.

This South African billionaire shuns glitz and media publicity being more comfortable on keeping a low profile and keeping his wealth under wraps.




mike adenuga

Another Nigerian, Mike Adenuga dominates the third spot of Africa’s  billionaires. With an estimated fortune of $8bn., Mr. Adenuga’s wealth  flourished in oil and telecoms business.

 “Africa, the world’s fastest growing emerging market, is now home to 55  billionaires, with an average net worth of $2.6bn,” according to the UK  based The Telegraph. The list was studied and compiled by Ventures Africa,  an African business magazine and news services firm whose founder Chi-Chi Okonjo says that the study revealed the “true wealth” of Africa’s richest people.

To confirm the veracity of the new study, Ventures Africa scrutinized various financial reports and other pertinent documents which were corroborated by financial analysts, bankers, and realtors to arrive at the most accurate wealth valuation of each candidate.

Source: The Telegraph