FORBES Rich List 2016:Top 10 Richest People In Africa – Dangote Tops The List

FORBES Rich List 2016:Top 10 Richest People In Africa – Dangote Tops The List

According to Forbes (The World’s Billionaire) published list for 2016 ranking, it has been discovered that the number of billionaires from Africa in the list has reduced from 28 last year to 23 at present. The 50 wealthiest people in Africa with a total net-worth of $95.6 billion as at 2015 to $15 billion currently.

This sharp decline has been orchestrated by the plunge in the prices of commodity and oil which has had its course on the economy of different countries. However, surprisingly, the shortlisted people are famous business talcum around the globe.

7. Nassef Sawiris (Egypt) $4.9 billion

Nassef Sawiris is Naguib younger brother and the world’s 421st most richest person and Africa’s 7th on the list. The 55 years old Egyptian has built fortune for himself through his numerous investments in Egypt. He is a major stakeholder of the giant cement industry, LafargeHolcim, having about 5% stake.

In November, 2014, Nassef, partnered with Abu Dhabi’s International Petroleum Investment Co. to develop a coal-based power plant in Egypt and in October he was pointed as the biggest individual shareholder in Adidas having about 6% stake.

His construction company Orascum Construction Industry (OCI) and OCI fertilizers and chemical has gone viral within and outside Egypt.


6. King Mohammed VI (Morocco) $5.7 billion

King Morocco VI is a Morocco’s number one billionaire whose source of income has been said to be diversified by FORBES, suggesting that he has a lot of investments to his credit. The 53-year-old Moroccan has 35% stake in Societe Nationale d’Investissement (SNI) which he inherited from his late father, King Hassan.

SNI is a large private Moroccan holding company controlled by Moroccan royal family which lists the royal Moroccan family among its primary shareholders and holds long-term investments in Morocco’s biggest companies and key projects, such as the country’s largest bank, Attijariwafa; Managem Group, a mining company;  Cosumar, a sugar producing company; and Centrale Danone, a dairy firm. His net-worth is $5.7 billion.


5. Johann Rupert (South Africa) $5.8 billion

Africa’s 5th most richest billionaire is a citizen of South Africa and resides in Cape Town of the country. He has a net-worth of $5.8 billion. His source of income has been traced to his dealing on luxury goods within and outside South African.

He is the owner of Swiss luxury goods firm, Compagnie Financiere Richemont, best known for their brands Cartier and Montblanc which he created in 1988. He also owns part of Anthonij Rupert Wines, a company named after his late brother.

Rupert owns a 7% stake in Remgro, which he chairs, as well as 25% of Reinet, an investment holding company based in Luxembourg that has a stake in British American Tobacco. He is South Africa’s third most richest person.

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