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Aliko Dangote Retains Africa’s Richest Man Title

aliko dangote retains africas richest man title

Aliko Dangote, Mike Adenuga and Abdulsamad Rabiu

Nigerian business magnate Aliko Dangote is the richest man in Africa, leading the latest Forbes’ Africa Billionaires List with a net worth of $12.1 billion.

The 63-year-old, who is the president and CEO of Dangote group is maintaining the richest man in Africa title for the tenth year in a row, according to the report released by Forbes on Friday.

The second richest is Nassef Sawiris of Egypt, whose largest asset is a nearly 6% stake in sportswear maker Adidas. At number three is Nicky Oppenheimer of South Africa, who inherited a stake in diamond firm DeBeers and ran the company until 2012, when he sold his family’s 40% stake in DeBeers to mining giant AngloAmerican for $5.1 billion.

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Mike Adenuga, the Nigerian telecom tycoon is fifth on the list with $6.3 billion.

According to Forbes, the biggest gainer this year is another Nigerian cement tycoon, Abdulsamad Rabiu. Remarkably, shares of his BUA Cement PLC, which listed on the Nigeria Stock Exchange in January 2020, have doubled in value in the past year. That pushed Rabiu’s fortune up by an extraordinary 77%, to $5.5 billion.

The 18 billionaires from Africa hail from seven different countries. South Africa and Egypt each have five billionaires, followed by Nigeria with three and Morocco with two.

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See below for the full list of the richest people in Africa, their net worth, age and origin of wealth:

1. Aliko Dangote – $12.1 B – 63 [cement, sugar]
2. Nassef Sawiris – $8.5 B – 60 [construction, investments]
3. Nicky Oppenheimer – $8 B – 75 [diamonds]
4. Johann Rupert – $7.2 B – 70 – [luxury goods]
5. Mike Adenuga – $6.3 B – 67 [telecom, oil]
6. Abdulsamad Rabiu – $5.5 B – 60 [cement, sugar]
7. Issad Rebrab – $4.8 B – 77 [food]
8. Naguib Sawiris – $3.2 B – 66 [telecom]
9. Patrice Motsepe – $3 B – 58 [mining]
10. Koos Bekker – $2.8 B – 68 [media, investments]
11. Mohamed Mansour – $2.5 B – 73 [diversified]
12. Aziz Akhannouch – $2 B – 60 [petroleum, diversified]
13. Mohammed Dewji – $1.6 B – 45 [diversified]
14. Youssef Mansour – $1.5 B – 75 [diversified]
15. Othman Benjelloun – $1.3 B – 88 [banking, insurance]
16. Michiel Le Roux – $1.2 B – 71 [banking]
16. Strive Masiyiwa – $1.2 B – 59 [telecom]
18. Yasseen Mansour – $1.1 B – 59 [diversified]

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