Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
In the past year, most of Africa’s wealthiest men have seen a modest improvement in their fortunes, reversing the downturn from the previous year.
However, their wealth levels are still below the record highs they once reached.
Creating and maintaining substantial wealth in Africa continues to be a formidable challenge. Global investors remain cautious due to concerns about the continent’s stock exchanges, while businesses struggle with economic difficulties, inadequate infrastructure, and fluctuating exchange rates. These factors make it tough to build and sustain a billion-dollar fortune.
The continent’s ever-changing political environment can have a dramatic impact on wealth. Shifts in political conditions can either boost or severely affect the fortunes of Africa’s richest people, adding another layer of complexity to the pursuit and retention of great wealth.
According to The Bloomberg Billionaires Index, which tracks the wealth of the world's richest people, five people from Africa have been featured on this year's list of the top 500 billionaires.
Here’s a look at the top five African billionaires according to the Bloomberg billionaire list:
Net worth: $14.3 billion
Country: South Africa
Johann Rupert, 74, the chairman of luxury goods giant Richemont, has seen his net worth soar to $14.3 billion, placing him 147th on the global billionaire list and first in Africa. He has seen a substantial increase in his net worth, jumping by $1.9 billion recently. Richemont owns prestigious brands such as Cartier and Jaeger-LeCoultre.
Net worth: $13.4 billion
Country: Nigeria
The Nigerian industrialist who previously held the top spot for over a decade, now has a net worth of $13.4 billion. Aliko Dangote, 67, ranks 159th globally. Dangote’s fortune has declined due to challenges in Nigeria’s economic environment, which have negatively affected his business empire. His wealth mainly comes from his stake in Dangote Cement, as well as investments in sugar, flour, and the ambitious Dangote Refinery in Lagos.
Net worth: $11.3 billion
Country: South Africa
At 79, Nicky Oppenheimer has a net worth of $11.3 billion, positioning him 213th in the world. The former De Beers stakeholder who sold his family’s 40% stake in De Beers for $5.2 billion in 2012, continues to invest through Stockdale Street, focusing on private equity in Africa, Asia, the US, and Europe.
Net worth: $9.22 billion
Country: South Africa
Natie Kirsh, 92, controls the Kirsh Group and has a net worth of $9.22 billion, placing him 286th globally. He controls the Kirsh Group and holds a majority stake in Jetro Holdings, which operates Jetro Cash & Carry and Restaurant Depot in over 30 US states. His investments span private equity and property across four continents.
Net worth: $7.32 billion
Country: Egypt
Naguib Sawiris holds a net worth of $7.32 billion and is ranked 390th on the global list. The 70-year-old Sawiris, through his Luxembourg-based company D La Mancha Resources, has significant stakes in gold mining companies like Evolution Mining and Endeavor Mining. He previously raised over $4 billion from selling his stake in Vimpelcom.
