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, Swaziland, and Zimbabwe with their first Billionaire.
African Billionaire Age groups
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 42.
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.
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