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Nigeria’s Aliko Dangote is No Longer Africa’s Number One Billionaire

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Aliko Dangote

It was an interesting year for African billionaires as some fortunes shrunk and others grew. Notably Africa’s richest man, Aliko Dangote’s wealth dropped by a couple of billions, giving South African/Canadian/American billionaire and founder of Tesla Motors, Elon Musk the edge he needed to top the list.

African Countries represented on the Billionaire list

In 2017, South Africa still topped the list with 9 billionaires after dropping Christoffel Wiese and adding Stephen Saad and Desmond Sacco. Egypt’s list grew to 8 billionaires with Sawiris family patriarch back on the list.

Nigeria’s billionaires dropped from 5 to 3, dropping Abdulsamad Rabiu and Femi Otedola. The other countries represented are Angola, Algeria, Ethiopia, Sudan and Swaziland.

African Billionaire Age groups

Mohammed Dewji

There are 3 billionaires in their forties, 5 in their fifties, 8 in their sixties, 7 in their seventies and 5 in their eighties. Africa’s youngest Billionaire is still Mohammed Dewji from Tanzania at Age 41.

Methodology

The African Billionaires list is a snapshot of wealth taken on January 1, 2018. It is based on the Forbes Real time billionaire wealth calculator. The calculation is derived from stock prices and exchange rates from around the world used to calculate net worths. Some fortunes change from day to day due to fluctuations in the market.

The list is based on individuals rather than multigenerational families who share large fortunes, though included is wealth belonging to a billionaire’s spouse and children if the current list member is the founder of the fortune. In that case you’ll see “& family” on the list. Also included are married couples who built fortunes and businesses together. 

Africa’s Billionaires of 2017

PictureAfrica RankForbes RankNameNet WorthAgeWealth SourceHometown / Residence
1#61Elon Musk$19.6 B46Self Made, Tesla MotorsSouth Africa / United States
2#131Aliko Dangote$12.1 B60Self Made, cement, sugar, flourNigeria
3#144Mohammed Al Amoudi$10.5 B71Self Made, oil, diversifiedEthiopia / Saudi Arabia
4#212Patrick Soon-Shiong$7.9 B65Self Made, pharmaceuticalsSouth Africa / United States
5#216Nicky Oppenheimer$7.7 B72DiamondsSouth Africa
6#239Johann Rupert$7.1 B67Luxury goodsSouth Africa
7#269Nassef Sawiris$5.6 B56Construction, chemicalsEgypt
8#347Mike Adenuga$5.5 B64Self Made, telcom, oilNigeria
9#464Nathan Kirsh$4.6 B85Retail, real estateSwaziland
10#538Naguib Sawiris$4.1 B63TelecomEgypt
11#543Issad Rebrab$4 B74FoodAlgeria
12#699Haim Saban$3.3 B73Self Made, TV network, investmentsEgypt / United States
13#766Isabel dos Santos$3.1 B44InvestmentsAngola
14#872Koos Bekker$2.8 B65Self Made, media, investmentsSouth Africa
15#898Mohamed Mansour$2.7 B69Self Made, diversifiedEgypt
16#1045Patrice Motsepe$2.4 B55Self Made, miningSouth Africa
17#1145Aziz Akhannouch$2.2 B57Petroleum, diversifiedMorocco
18#1213Allan Gray$2 B80Money managementSouth Africa
19#1260Yasseen Mansour$2 B56Self Made, diversifiedEgypt
20#1269Mohamed Al Fayed$1.9 B88Self Made, retail, investmentsEgypt
21#1482Othman Benjelloun$1.6 B85Banking, insuranceMorocco
22#1610Youssef Mansour$1.4 B72Self Made, diversifiedEgypt
23#1625Folorunsho Alakija$1.4 B67Self Made, oilNigeria
24#1666Mohammed Dewji$1.4 B42DiversifiedTanzania
25#1812Stephen Saad$1.2 B53Self Made, pharmaceuticalsSouth Africa
26#1913Mohammed Ibrahim$1.1 B71Self Made, communicationsSudan / United Kingdom
27#1955Onsi Sawiris$1.188Self Made, construction, telecomEgypt


28#2005Desmond Sacco$1 B75MiningSouth Africa

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