Forbes Africa has released its annual list of wealthy Africans featuring 21 billionaires worth a combined $70 billion.
This year’s list is a little different to the usual lists which feature Africa’s 50 richest people. The 2017 compilation features only African billionaires living in Africa thus excluding Sudanese-born billionaire Mo Ibrahim and Egyptian Mohamed Al-Fayed.
The number of billionaires in Africa and the size of their fortunes this year has significantly dropped. In 2015, the Africa Rich List had 23 African billionaires worth a combined $79.8 billion. That, in turn, was down from 28 African billionaires in 2014.
Nigerian industrial tycoon Aliko Dangote leads the way and continues to remain Africa’s richest person for the sixth year running with a $12.1 billion fortune. His net worth has, however, dropped by almost $5 billion.
South African billionaire Nicky Oppenheimer comes in second on the list. The diamond magnate has been able to constantly appear on the list since selling his family’s stake in diamond giant De Beers to Anglo American for $5.1 billion in 2012.
Nigerian telecom tycoon Mike Adenuga came in third with an estimated $5.8 billion fortune.
Johann Rupert, a luxury goods tycoon is tied fourth place with fellow South African Christoffel Wiese. The retail magnate and Rupert each have a fortune worth $5.5 billion.
South Africa and Egypt dominate the Forbes Africa list, with each having six individual billionaire appearances. South Africa’s six billionaires are however worth $7 billion more than their Egyptian counterparts.
Egypt’s richest billionaire is Nassef Sawiris with a fortune of $5.3 billion. Sawiris, who runs one of the world’s largest nitrogen fertilizer companies, has seen his fortune increase by $400 million since 2015.
His brother Naguib Sawiris, is the biggest gainer on the list shooting him up to seventh placed. His net worth increased from $700 million to $3.7 billion.
Below is the complete list of billionaires.
Forbes Africa excluded family fortunes from this year’s list thereby leaving out the Chandaria family of Kenya and the Madhvanis of Uganda.
The wealth of the two families, for instance, is believed to belong to dozens of family members. Forbes Africa, however, included wealth belonging to a member’s immediate relative if only it could be traced to one living individual; hence the ”& family” indication on the list.
The 21 billionaires on the list come from only seven countries. South Africa (six), Egypt (six), Nigeria (three), Morocco (three). Algeria, Angola and Tanzania each have one entry.