LATEST AFRICA’S RICHEST LIST

Richest Man in Africa – Aliko Dangote

Nigerians now tops the 2014 Africa’s richest list as against South Africa for the first time since four years that FORBES has been tracking Africa’s richest. Aliko Dangote of Nigeria remained on top of the list with 12 other Nigerians in the top 50 Africa’s richest business tycoons. South Africa claims 11 spots down from the 14 spots they had in 2013.

Two new billionaires from Nigeria joined the 2014 Africa’s richest list; they include: Orji Uzor Kalu of Slok Group and Tony Elumelu of Heir Holdings. Also new in the list as a billionaire is King Mohammed IV of Morocco. Three billionaires in the 2013 richest list are now off the 10 figure club; they include Vimal Shah of Kenya, replaced by his father Bhimji Depar Shah at a lower net worth, Abdulsamad Rabiu of Nigeria dropped below $1 billion due to ceased operations at his floating cement terminal in Nigeria, and South African mining mogul Desmond Sacco who dropped to a net worth of $680 million, down from $1.4 billion last year, because of a sharp decline in the share price of his mining firm Assore Group. The number of billionaires on the list stayed steady with 2013 at 27.

The top 50 Africa’s richest are, as a whole, wealthier than a year ago. Their combined net worth of $110.7 billion is 6.7% more than in November 2013. Behind Nigeria’s Aliko Dangote at number one with a fortune of $21.6 billion, comes South African luxury goods magnate Johann Rupert, number two for the second year in a row, worth an estimated $7.3 billion. His Compagnie Financiere Richemont has a stable of luxury brands including Cartier, Montblanc and fashion house Azzedine Alaia.

Six new entrants in the list of richest Africans include the above mentioned new billionaires, as well as Ali Wakrim of Morocco and Ahmed Ezz of Egypt. Mohamed Bensalah of Morocco rejoins the list after dropping off in 2013. Seven members of the 2013 list fell off: Vimal Shah of Kenya (as mentioned earlier, his father Bhimji replaced him), Cyril Ramaphosa of South Africa, Raymond Ackerman of South Africa, Sani Bello of Nigeria, Adrian Gore of South Africa, Shafik Gabr of Egypt, and Alami Lazraq of Morocco.

Only two women made the 50 Africa’s richest list. They include Isabel dos Santos of – $3.7B and Folorunsho Alakija of Nigeria with a net worth of $2.5B.

Thirty-five of the fortunes were self made; two were inherited and the remaining 13 were inherited but are being expanded.

Kerry A Dolan of Forbes stated the criteria Forbes use in making the list and also why Sudanese born Mo Ibrahim is not on the list. She said “Our list tracks the wealth of African citizens who reside on the continent, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen and billionaire London resident Mohamed Al-Fayed, an Egyptian citizen. We calculated net worths using stock prices and currency exchange rates from the close of business on Friday, November 7. To value privately-held businesses, we couple estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies.”

Here is the list

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entries

S/No	Name	Worth
1	Aliko Dangote	$21.6 B
2	Johann Rupert & family	$7.3 B
3	Nicky Oppenheimer & family	$6.8 B
4	Nassef Sawiris	$6.1 B
5	Christoffel Wiese	$5.4 B
6	Mike Adenuga	$4.6 B
7	Mohamed Mansour	$4 B
8	Isabel dos Santos	$3.7 B
9	Issad Rebrab & family	$3.2 B
10	Naguib Sawiris	$3.1 B

11                 Youssef Mansour                                                    $2.9 B
12 Folorunsho Alakija $2.5 B
13 Othman Benjelloun $2.4 B
14 Yasseen Mansour $2.3 B
15 Patrice Motsepe $2.3 B
16 King Mohammed VI $2.1 B
17 Koos Bekker $2 B
18 Stephen Saad $1.9
19 Onsi Sawiris $1.9 B
20 Aziz Akhannouch & family $1.8 B

21	Miloud Chaabi & family	$1.3 B
22	Theophilus Danjuma	$1.1 B
22	Sudhir Ruparelia	$1.1 B
22	Samih Sawiris	$1.1 B
22	Anas Sefrioui	$1.1 B
26	Rostam Azizi	$1 B
26	Tony Elumelu	$1 B
26	Orji Uzor Kalu	$1 B
29	Femi Otedola	$900 M
30	Jim Ovia	$850 M

31	Mohammed Dewji	$800 M
32	Lauritz (Laurie) Dippenaar	$730 M
33	Mohamed Bensalah	$700 M
33	Abdulsamad Rabi	$700 M
33	Bhimji Depar Shah & family	$700 M
36	Desmond Sacco	$680 M
37	Mohammed Indimi	$670 M
38	Gus Attridge	$660 M
39	Tunde Folawiyo	$650
40	Moulay Hafid Elalamy	$620 M

41	Hakeem Belo-Osagie	$600 M
41	Strive Masiyiwa	$600 M
41	Ali Wakrim & family	$600 M
44	Said Salim Bakhresa	$575 M
45	Reginald Mengi	$560 M
46	Naushad Merali	$550 M
46	Oba Otudeko	$550 M
48	Ahmed Ezz	$520 M
48	Jannie Mouton	$520
50	Gerrit Thomas (GT) Ferreira	$510 M