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.


4. Christoffel Wiese (South Africa) $5.9 billion

christoffel-wiese picture

Wiese is  South Africa’s 2nd most richest individual and he is currently ranked the 4th in the Africa’s 50 richest. His net-worth dropped from $6.5 billion in 2015 to $5.9 billion in 2016.

In February 2015, Wiese Company, Steinhoff purchased clothing and footwear seller Pepkor, for $5.7 billion in cash and stock. After the deal, Wiese ended up with a 17% stake in Steinhoff. In December, 2015, the retail tycoon biggest investment, furniture and home goods retailer Steinhoff, moved its listing from the Johannesburg Stock Exchange to the Frankfurt Stock Exchange which was focused on giving the European market a new look.

Wiese’s credits would not end without mentioning about his 15% stake in publicly traded Shoprite Holdings, supermarkets, furniture stores and fast food outlets in 15 countries, as well as stakes in private equity firm Brait, industrial products company Invicta Holdings and mining-sector investor Pallinghurst.


3. Mike Adenuga (Nigeria) $6.4 billion

Mike Adenuga is Africa’s 7th most richest person and the 2nd in Nigeria. He has built fortune for himself and generation. After returning from the U.S. where he got his MBA sponsoring himself through his Taxi driver work, he traded on lace and Coca-Cola during which he made contact with Nigerian military heads who awarded him lucrative contracts.

His source of income has been traced down to his involvement in telecom and oil businesses. He is the owner of Nigeria’s second largest telecom operator, Globacom, which has over 32 million subscribers. Globacom also has operations in Ghana and Republic of Benin. His oil company, Conoil also operates six oil blocks in the Niger Delta area of Nigeria. He was also the producer of Nigeria’s most famous TV drama, Super Story.

FORBES currently upgrade Mike’s net-worth from $3.5 billion to $6.4 billion following the increased estimate of his company’s revenue in May, 2015 of over $600 million. His current net-worth is $6.4 billion.


2. Nicky Oppenheimer (South African) $6.9 billion

Nicky Oppenheimer picture
Nicky Oppenheimer picture

Nicky is the wealthiest individual in South Africa with a net-worth of $6.9 billion currently as against $6.5 billion in 2015. He has his source of wealth from inheriting his family’s stake in Diamond giant, De Beers, which is a business whose 85% stake is being controlled by the mining conglomerate Anglo American while the government of Botswana owns the remaining 15%.

Nicky sold his 40% stake in De Beers to Anglo American for $5.1 billion in cash. Anglo American was founded by Nicky’s grandfather. But in October 2015, three years after he sold his family’s stake in De Beers, Oppenheimer announced at a Diamond Route research conference that he was uncoupling Oppenheimer land from the diamond route.


1. Aliko Dangote (Nigeria) $16.7 billion

Aliko Dangote
Dangote picture

The multi-billionaire business tycoon has for years stood as the most richest man in Nigeria and the number one in Africa too. He is the founder and boss of Dangote Cement, the continent’s largest cement producer. In 2015 Dangote Cement launched new plants in Cameroon, Ethiopia, Zambia and Tanzania. The company produces more than 30 million metric tons annually, and plans to double capacity by 2018.

Dangote’s source of wealth is diversified as he has numerous goods produced by his owned company, Dangote Group, such goods as sugar, flour, different pastas etc.


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