Africa’s Billionaires

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Africa's Billionaires

Forbes’ inaugural list of the 40 Richest People in Africa

Edited by Kerry Dolan

Reported by Zina Moukheiber, Mfonobong Nsehe, Edwin Durgy, and Susan Adams

“Forbes’ inaugural list of the 40 Richest people in Africa is a testament to the growing global importance of the continent. Fortunes are being created everywhere from South Africa clear north to Morocco and Egypt in a diverse array of industries, by companies that cater to local tastes or worldwide needs.” “The combined wealth of the 40 richest is $64.9 billion – more than Thailand’s 40 richest (at $45 billion) but less than Taiwan’s (at $92.7 billion).”

Below is Forbes 2012 list of People in Africa with a net worth of at least $ 1 billion:

No. 1 Aliko Dangote. Net Worth: $11.2 billion – As of March 2012. Source of Wealth: sugar, flour, cement, self-made. Age: 54. Citizenship: Nigeria. Residence: Lagos, Nigeria. Marital Status: Married. Children:3. Aliko Dangote is Africa’s and Nigeria’s Richest Man as of 2012 according to Forbes Magazine with a net worth of $11.2 billion.

No. 2 Nicky Oppenheimer & Family. Net Worth: $6.8 billion – As of March 2012. Source of Wealth: De Beers, inherited. South Africa’s Richest Person: #1. Age: 66. Citizenship: South Africa. Residence: Johannesburg, South Africa. Marital Status: Married. Children: 1. Nicky Oppenheimer is worth $6.8 billion. he is the richest person in South Africa and is the 139th richest person in the world. How did he get rich? He is the Chairman of De Beers Diamonds, of course, and also has a significant interest in Anglo-American plc, the gold mining company. he also owns Tswalu Kalahari Reserve, the largest private game reserve in South Africa.

No. 3 Nassef Sawiris (tie). Net Worth: $5.1 billion. Egypt’s Richest Person: #1. Source: construction, inherited and growing. Age: 51. Citizenship: Egypt. Residence: Cairo, Egypt. Nassef Sawiris in Onsi’s youngest son and is worth $5.1 billion. He is the richest person in Egypt, and the 199th richest person in the world. He took over leadership of Orascom’s construction and fertilizer division in the late nineties and sold its cement business to Lafarge in 2007, although he still owns a stake and sits on the French company’s board. He is also the largest shareholder in Texas Industries.

No. 3 Johann Rupert & family (tie). Net Worth: $5.1 billion – As of March 2012. Source: Luxury goods, inherited and growing. Age: 61. Citizenship: South Africa. Residence: Stellenbosch, South Africa. Marital Status: Married. Children: 3. Johann Rupert is the second-richest person in South Africa, being worth $5.1 billion. He is the 199th richest person in the world, and made his money from Richemont, the Swiss luxury group that owns Cartier, Dunhill, Chloe bags and MontBlanc pens. The company purchased online fashion portal Net-a-Porter. Remgro, his South African holding company purchase VinFin earlier in 2010. He also owns Rupert & Rothchild and L’Ormarins wine estates, and one of South Africa’s most exclusive golf clubs.

No. 5 Mike Adenuga. Net Worth: $4.3 billion – As of March 2012. Source of Wealth: Telcom, banking, oil, self-made. Age: 58. Citizenship: Nigeria. Residence: Lagos, Nigeria. Marital Status: Married. Mike Adenuga is the seacond richest person in Nigeria with a fortune of $4.3 billion. He is the 248th richest person in the world and made his money in telecommunications with Globacom, a carrier that has recently launched its 4G network. The company has also invested in the submarine cable connecting Nigeria to the world. His beginnings were small, as he started selling lace and Coca-Cola, but then he finally won a contract to build military barracks in the late 1080s. Adenuga also has a stake in the Equitorial Trust Bank, and is the chair of Conoil.

No. 6 Naguib Sawiris. Net Worth: $3.1 billion – As of March 2012. Source: Telecom, inherited and growing. Age: 57. Citizenship: Egypt. Residence: Cairo, Egypt. Marital Status: Married. Children: 4. Naquib Sawiris, Onsi’s eldest son, is the seacon richest-person in Egypt – he is worth $2.9 billion, which makes him the 367th richest person in the world. He is head of Wind Telecom, which is a mobile service provider for Africa, South Asia, Europe, Canada and the Middle East. Naguib attempted to sell his service provider to MTN group previously, but failed.

No. 6 Christoffel Wiese (tie). Net Worth: $2.7 billion – As of March 2012. Source: Consumer retail, self-made. Age: 70. Citizenship: South Africa. Marital Status: Married. Children: 3. Christoffell, or Christo as he’s more commonly known, is the fourth rischest peron in South Africa. he is worth $2.7 billion and made his money as CEO of Shoprite. He owns a stake in Pepkor, a discount clothes, shoes, and textiles store in South Africa, and is known for restoring a South African farm estate and remodeling it into a five-star hotel. Other assets include Lourensford Estate, the wine producer, and a private game reserve in the Kalahari. He is the 782nd richest person in the world.

No. 8 Onsi Sawiris. Net Worth: $2.9 billion – As of March 2012. Source: Construction, self-made. Age: 82. Citizenship: Egypt. Residence:Cairo, Egypt. Marital Status: Married. Children: 3. Onsi Sawiris is the third richest-person in Egypt, and the #401 in the world. He is worth $2.9 billion and made his millions as the founder of the business dynasty that includes Orascom telecom, hotels and construction. He was encouraged to study agriculture when he was younger, but found it boring and opened up his own contracting firm, which had to be rebuilt after it was nationalised in the 1960’s.

No. 8 Miloud Chaabi. Net Worth: $2.9 billion (tie) – As of March 2012. Morocco’s Richest Person: #1. Source of Wealth: Real Estate. Age: 83. Citizenship: Morocco. Marital Status: Married. Morocco’s richest man got his start in 1948 developing housing, then expanded through Ynna Holding into hotels, supermarkets, and renewable energy. Chaabi was a member of Parliament, where he was dubbed the “red capitalist” when he allied himself with the socialist party.

No. 10 Patice Motsepe. Net Worth: $2.7 billion – As of March 2012. Source: Mining, self-made. Age: 50. Citizenship: South Africa. Marital Status: married. Children: 3. Patrice Motsepe is South Africa’s third richest person, worth $2.7 billion. He made his money in mining and is the 442nd richest person in the world. his money is the result of purchasing low-producing gold mine shafts in 1994, which he made profitable. Since then he has built African Rainbow Minerals, benfiting as a result of South Africa’s Black Economic Empowerment (BEE) laws. he also owns a stake in Sanlam.

No. 11 Othman Benjelloun. Net Worth: $2.3 billion – As of March 2012. Source: Banking, Insurance. Age: 79. Citizenship: Morocco. Marital Status: Married. Children: 2. Othman Benjelloun’s father was a large shareholder in a small Morroccan insurance company. Benjelloun took over in 1998, and built it into RMA Watanya, a leading insurance company. He then used it to expand into banking. his publicly traded BMCE Bank is present in more than a dozen African countries ( due to an aquisition of Bank of Africa), and has a market capitalization of $4 billion.

No. 12 Mohamed Mansour. Net Worth: $1.7 billion – As of March 2012. Source: Diversified, self-made. Age: 64. Citizenship: Egypt. Marital Status: Married. Children: 2. Mohamed Mansour is the older brother of Youssef and Yasseen, and is worth $1.7 billion, he made through his fortune through various ventures. He is the fourth-richest person in Egypt, and the 595th richest person in the world. His family is the biggest seller of GM vehicles around the world, and the Mansour Group has interest in diverse industries, such as supermarkets and real estate.

No. 13 Yaseen Mansour (tie). Net Worth: $1.6 billion – As of March 2012. Source: Diversified, self-made. Age: 50. Citizenship: Egypt. Residence: Cairo, Egypt. Marital Status: Married. Children: 4. Yaseen Mansour is $1.6 billion and is the fifth richest person in Egypt. he is the youngest brother of Mohamed and Youssef Mansour, and is the head of Egypt’s second-largest retail estate developer Palm Hills Development. He is the 692nd richest person in the world but is facing allegations of corruption after his couzen, who was ousted Egyptian president Mubarak’s housing minister, was found to be a shareholder in that company and other mansour holdings.

No. 13 Anas Sefrioui (tie). Net Worth: $1.6 billion – As of March 2012. Source: Real Estate. Age: 55. Citizenship: Morocco. Marital Status: Married. Children: 3. Moroccan entrepreneur Anas Sefrioui formed a real estate development group in 1988, but his big break came nearly ten years later when he won a contract to build a chunk of government-subsidized housing underc the patronage of Morocco’s late King Hassan II. He won another $1 billion state contract in 2005 to build more housing units.

No. 15 Youssef Mansour. Net Worth: $1.5 billion – As of March 2012. Source: Diversified, self-made. Age: 66. Citizenship: Egypt. Marital Status: Married. Children: 5. Youssef Mansour is the older brother of Mohamed Mansour. He is worth $1.5 billion and is the sixth richest person in Egypt. He is the 864th richest person in the world and was behind the construction of the largest supermarket chain in Egypt, called Metro. He apparently enjoys collecting furniture that King Louis XIV of France was fond of, and Renaissance paintings.

No. 16 Mohamed Al Fayed & Family. Net Worth: $1.3 billion – As of March 2012. Source: Retail, self-made. Age: 79. Citizenship: Egypt. Marital Status: Married. Children: 5. Mohamed Al Fayed is worth $1.5 billion, making him the 960th richest person in the world and the eight richest person in Egypt. His business interest include ownership of Fulham Football Club in England, hotel Ritz Paris and formerly Harrods Department Store in Knightsbridge.

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