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African Vibes Magazine’s 2018 African Billionaires List

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African Billionaires

When it comes to African Billionaires, there are some usual suspects that make the list every year. Unfortunately, 2018 closed on a very bumpy note in the equities market and for many billionaires, this among other things resulted in some considerable loses in fortunes and some billionaires dropping off the list altogether.

The list dropped by 7 from 31 African billionaires to 24. A few billionaires still managed to grow their fortunes. Most Notably Nigeria’s Mike Adenugu who grew his fortunate the most with a 3.2 billion increase over his 2017 fortune.

Isabel Dos Santos remained Africa’s richest woman, Mohammed Dewji is still Africa’s youngest billionaire, and South Africa’s Elon Musk maintained the number one spot as the richest African on the list.

African Countries represented on the Billionaire list

By the end of 2018, South Africa had dropped 5 billionaires from the previous year. They closed with 6 billionaires, same as Egypt which dropped 2 billionaires from its 2017 list.

Nigeria maintained its 3 billionaires while last year’s newcomer from Zimbabwe still held his own. The other countries represented are Angola, Algeria, Ethiopia, Sudan, Swaziland and Zimbabwe with their first Billionaire.

African Billionaire Age Distribution

There are 3 billionaires in their forties, 5 in their fifties, 7 in their sixties, 6 in their seventies and 3 in their eighties. Africa’s youngest Billionaire is still Mohammed Dewji from Tanzania at Age 42.

Methodology

The African Billionaires list is a snapshot of wealth taken on January 1, 2019. 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.

It was an interesting year for African billionaires as some fortunes shrunk and others grew. So let’s look at who is left on the list and how they did in spite of the rough year-end.

2018 African Billionaire’s List

PictureAfrica RankForbes RankNameNet WorthAgeWealth SourceHometown / Residence
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine1#35Elon Musk$21.9 B47Tesla MotorsSouth Africa / United States
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine2#125Aliko Dangote$10.5 B61Self Made, cement, sugar, flourNigeria
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine3#149Mike Adenuga$8.7B65Telecom, OilNigeria
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine4#180Nicky Oppenheimer$7.6 B73DiamondsSouth Africa
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine5#217Patrick Soon-Shiong$6.6 B66PharmaceuticalsSouth Africa / United States
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine6#240Nassef Sawiris$6 B57Construction, ChemicalsEgypt
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine7#316Johann Rupert$5.2 B68Luxury goodsSouth Africa
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine8#413Nathan Kirsh$4.4 B86Retail, Real estateSwaziland
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine9#519Issad Rebrab$3.8 B75FoodAlgeria
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine10#572Naguib Sawiris$3.5 B64TelecomEgypt
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine11#758Haim Saban$2.8 B73TV network, InvestmentsEgypt / United States
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine12#955Strive Masiyiwa$2.3 B58TelecomZimbabwe
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine13#958Koos Bekker$2.3 B66Media, InvestmentsSouth Africa
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine14#964Mohamed Mansour$2.3 B70DiversifiedEgypt
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine15#1033Isabel dos Santos$2.2 B45InvestmentsAngola
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine17#1107Aziz Akhannouch$2 B58Petroleum, DiversifiedMorocco
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine16#1110Patrice Motsepe$2 B56MiningSouth Africa
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine18#1317Othman Benjelloun$1.7 B86Banking, InsuranceMorocco
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine19#1387Folorunsho Alakija$1.6 B68OilNigeria
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine20#1405Mohamed Al Fayed$1.6 B89Retail, InvestmentsEgypt
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine21#1441Mohammed Dewji$1.5 B43DiversifiedTanzania
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine22#1463Yasseen Mansour$1.5 B57DiversifiedEgypt
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine23#1783Mohammed Ibrahim$1.2 B72CommunicationsSudan / United Kingdom
African Billionaires, African Vibes Magazine’s 2018 African Billionaires List, African Vibes Magazine24#1786Youssef Mansour$1.2 B73Self Made, diversifiedEgypt
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