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Nigerian tops richest man on the Continent list!

The Wealth-X list is primarily dominated by South Africans and Egyptians, but named two Nigerians in its top five.

Self-made billionaire Mr Dangote is worth US$17 billion, according to The Wealth-X list.

Starting off as a small trading firm in 1977, Dangote Group has grown to Nigeria’s largest conglomerate and is a major supplier to the country’s soft drink companies, breweries and confectionaries – effectively dominating its sugar market. It also has interests in flour, salt, cement, steel and packaging materials.

Mr Dangote is joined on the list by Michael Adeniyi Isola Adenuga, who has a net worth of US$6.8 billion and was named the fifth wealthiest man. Adenuga is the chairman and CEO of Globacom Limited, a privately-owned telecommunications company in Lagos.

Egypt’s Nassef Sawiris (US$8 billion) and his brother Naguib take second and third place on the list (US$7.3 billion). Deposed Tunisian president Zine El Abidine Ben Ali holds fourth place.

Four South Africans appear on the list: Johann Rupert ($6.6 billion) and wife Gaynor (US$6.5 billion), Nicholas Oppenheimer ($6.3 billion) and Christoffel Wiese (US$2.9 billion).

South Africans Johann and Gaynor Rupert, have made it on to the list of Africa’s wealthiest.

With a combined fortune of US$73.2 billion, the top 10 individuals only account for 0.4 percent of Africa’s ultra-high net worth (UHNW) population. But their banks accounts hold 20 percent of all UHNW wealth.

The better news is that the number UHNW individuals is growing: 2,775 individuals share a combined wealth of US$350 billion – a   by 7.7% rise from 2012.

What would you do with US$17 billion?

See the full list from Forbes Magazine website.

 

 

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