If you sometimes wonder who are leading on the list for Africa’s Top 10 Billionaires for 2014 then take a look at this compilation. These richest people in Africa either started their own businesses or inherited their wealth. All of them are entrepreneurs and own their various businesses.
1. Aliko Dangote, $16.1 billion [Nigerian]
Source of money: Cement, Sugar, Flour
Image licensed under Creative Commons by World Economic Forum
Aliko Dangote,born in Nigeria, retains the position for the richest man in Africa for 3 years in a row. Dangote is $4.9 billion richer compared to 2012 on account of the soaring value of his properties in Nigerian blue chips such as Dangote Sugar, Dangote Cement, National Salt, Zenith Bank and Company of Nigeria etc. In the year 2013, FORBES accounted for other properties including his personal portfolio of homes, yacht and jets. He started making his wealth over 3 decades ago through commodities trading like flour, sugar and cement but turned out to be a billionaire by manufacturing the items. The admired philanthropist has donated more than $100 million to causes in education, health, poverty alleviation and flood relief.
2. Johann Rupert & family, $6.6 billion [South African]
Source of money: Luxury Goods
He is now the richest man in South Africa and one of Africa’s top 10 billionaires Rupert has been the president of Swiss-based luxury goods outfit, Compagnie Financiere Richemont that controls premium brands like Alfred Dunhill, Cartier, Vacheron Constantin, Montblanc and Chloé which is the source of his wealth. Johann also has stakes in investment holding companies Reinet and Remgro.
3. Nicky Oppenheimer & family, $6.5 billion [South African]
Source of money: Diamonds
In 2011, the month of November, Nicky sold 40% of his family’s stake to the world’s leading diamond producer De Beers, for $5.1 billion. This marked the end of the family’s control of De Beers, a relationship which started when Oppenheimer’s grandfather, Ernest Oppenheimer, had to take over the firm in the year 1927. The Oppenheimer’s invests through Tana Africa Capital, a private equity joint venture of $300 million with Singapore state investor Temasek.
4. Nassef Sawiris, $6.5 billion [Egyptian]
Source of money: Construction
Nassef Sawiris is the head of Egypt’s most expensive publicly-traded company and one of Africa’s top 10 billionaires according to Forbes, Orascom Construction Industries (OCI). In January 2013, he announced that the company was exchanging the company’s worldwide depositary receipts for newly issued shares of OCI NV on the NYSE Euro next in Amsterdam. The renowned Bill Gates was part of U.S investors’ consortium who offered $1 billion to assist cover payments to those shareholders who choose to tender their OCI shares for hard cash.
5. Mike Adenuga, $4.7 billion [Nigerian]
Source of income: Telecoms,Oil,
Mike Adenuga, the reclusive billionaire owns Nigeria’s second leading cell phone network, Globacom. Globacom has 24 million clients in Nigeria and functions in Benin. It holds licenses in the Ivory Coast and Ghana as well. Mike owns Conoil producing too, one of Nigeria’s biggest independent exploration companies and a controlling stake in a petroleum marketing company, Conoil PLC.