fbpx
Connect with us
//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({});

Business and Development

African Vibes Magazine’s African Billionaires of 2020

Published

on

African billionaires

African billionaires

While some African billionaires got richer, others are getting poorer. We are all glad that 2020 is behind us now. However, the memories will remain with some of us throughout our lifetime. All that it took was coronavirus to bring the earnings of some billionaires to a halt. Nevertheless, the cumulative worth of all African billionaires jumped from $68.7 billion to over $200 billion—and this is thanks to Elon Musk.

The billionaire of South African descent is not showing any sign of slowing down. His worth rose by over 500% from $27.5 Billion in 2019 to $189.7 billion. Aliko Dangote, the richest black man also saw substantial growth in his net worth. One of the major problems that billionaires all over the world have to deal with is the volatility of the economy.

For example, Strive Masiyiwa, Zimbabwe’s only billionaire continues to suffer from the country’s change in currency. Sadly, out of the long list of African billionaires, there is only one female on the list, Isabel dos Santos of Angola. Also, it is disheartening to know dos Santos is facing a barrage of legal battles for the diversion of public funds. Apparently, Folorunsho Alakija of Nigeria is no longer a billionaire.

African Countries with the Most Billionaires on the List

Egypt, South Africa, and Nigeria continue to dominate the African billionaire list. Other countries like Algeria, Angola, Morocco, Swaziland, Tanzania, Sudan, and Zimbabwe have one or two billionaires on the list. 

Age Distribution

At age 45, Mohammed Deji of Tanzania is still the youngest African billionaire. This is followed by Isabel dos Santos who is currently 48 years old. The majority of the men on the list are in their fifties and sixties. At age 92, Mohamed Al Fayed of Egypt maintains the spot of oldest African billionaire on our list.

Methodology

Our list is a snapshot from the Forbes Real-time billionaire wealth calculator. The data was taken on 7th January 2021. It is important to mention this because the figures can change drastically within hours. The calculations are determined using currency exchange rates and stock prices.

The majority of lists on the Internet track only billionaires living in Africa. However, our list includes billionaires who were born in Africa regardless of where they reside. 

2020 African Billionaire List

PictureAV Africa RankForbes RankNameNet WorthAgeWealth SourceHometown / Residence
1#1Elon Musk $189.7 B▲49AutoSouth Africa / United States
2#176Aliko Dangote$12.1 B ▲63Cement, Sugar, FlourNigeria
3#271Nassef Sawiris$8.4 B ▲60Construction, ChemicalsEgypt
4#291Nicky Oppenheimer$8.0 B ▲75DiamondsSouth Africa
5#333Johann Rupert$7.2 B ▲70Luxury goodsSouth Africa
6#370Patrick Soon-Shiong$6.6 B ▲68PharmaceuticalsSouth Africa / United States
7#401Mike Adenuga$6.3 B ▼67Telecom, OilNigeria
8#465Abdulsamad Rabiu$5.5 B ▲60Cement, SugarNigeria
9#683Nathan Kirsh$4.2 B ▲89Retail, Real estateEswatini (Swaziland)
10#411Issad Rebrab$4.0 B ▲76FoodAlgeria
11#1006Patrice Motsepe$3 B ▲58MiningSouth Africa
12#906Mohamed Mansour$3.3 B -73DiversifiedEgypt
13#936Naguib Sawiris$3.2 B ▲66TelecomEgypt
14#1045Haim Saban$2.9 B -76Communications, InvestmentsEgypt / United States
15#1080Koos Bekker$2.8 B ▲68Media, InvestmentsSouth Africa
16#1342Yasseen Mansour$2.3 B -60DiversifiedEgypt
17#1530Aziz Akhannouch$2.0 B ▼60Petroleum, DiversifiedMorocco
18#1618Youssef Mansour$1.9 B -76DiversifiedEgypt
19#1726Isabel dos Santos$1.7 B ▲47InvestmentsAngola
20#1827Mohamed Al Fayed$1.6 B ▲92Retail, InvestmentsEgypt
20#1835Mohammed Dewji$1.6 B ▲45DiversifiedTanzania
21#2055Othman Benjelloun$1.3 B ▼90Banking, InsuranceMorocco
22#2196Strive Masiyiwa$1.2 B ▲60TelecomZimbabwe
22#2193Michiel Le Roux$1.2 B ▼71BankingSouth Africa
23#2259Mohammed Ibrahim$1.1 B -74CommunicationsSudan / United Kingdom
Facebook Comments

Advertisement
2 Comments

2 Comments

  1. Anyim Josh

    January 11, 2021 at 5:06 am

    It’s always good having to read about and draw inspiration from these guys

    • Anthony Emecheta

      January 11, 2021 at 5:36 am

      Yes, there is so much to learn from their resilience and business models

Leave a Reply

Your email address will not be published. Required fields are marked *

fourteen − six =

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe for Updates

Advertisement

Polls

Who was your best-dressed female celebrity at the 14th Headies Award? 

View Results

Loading ... Loading ...
Advertisement

Popular Posts