Africa Now Home To 55 Billionaires According To Ventures Africa Rich List

| by Khier Casino

Africa now has 55 billionaires, an increase from previous estimates of 6-25 billionaires, The Telegraph reports. A pan-African magazine, Ventures, says that the billionaires are worth $143.88 billion including a Nigerian considered to be the wealthiest black woman in the world.

Compared to Africa, the U.K. has 84 billionaires, worth a nearly £250bn, according to the 2013 Sunday Times Rich List.

Latin America comes close behind with 51 billionaires at last count by Forbes. On the other hand, Africa has a long way to catch up to Asia, which houses 399 billionaires as of 2013.

Ventures Africa, a business magazine and news service, introduced a new annual rich list for the continent. The list compiled and revealed Africa’s richest people.

Popular Video

This young teenage singer was shocked when Keith Urban invited her on stage at his concert. A few moments later, he made her wildest dreams come true.

Key findings from the research include:

  • The combined fortune of Africa's 55 billionaires is $143.88 billion, with average net worth of $2.6 billion;
  • The median age of the list is 65 years. The youngest billionaires are Mohammed Dewji of Tanzania and Igho Sanomi, a Nigerian oil trader, who are both 38. The oldest billionaires are Manu Chandaria, a Kenyan industrialist, and Mohammed Al-Fayed, the Egyptian property tycoon, who are both 84;
  • Africa's wealthiest woman, Folorunsho Alakija, is worth $7.3 billion dollars;
  • The most common industries in which African billionaires have made their money are: construction, financial services, oil and gas, manufacturing and real estate;
  • The wealthiest African's are significantly wealthier than previously thought, for example:
    • Aliko Dangote, Africa's richest person, is now estimated to be worth $20.2 billion, a 68 percent increase on the most recent estimate of $12 billion
    • Mike Adenuga, oil and telecoms magnate and Africa's third richest person, is now estimated to be worth $8 billion a 74 percent increase on the most recent estimate of $4.6 billion
    • Nigeria, South Africa and Egypt have the most billionaires with 20, nine and eight respectively. In total ten African countries are represented on the list;
    • There are a large number of African billionaires on the list whose fortunes have never been accurately calculated before including: Strive Masiyiwa (Zimbabwe, $1.46 billion); Abdulsamad Rabiu (Nigeria, $1.4 billion); Aziz Akhannouch (Morocco, $1.39 billion); Jide Omokore (Nigeria, $1.32 billion); and Bode Akindele (Nigeria, $1.19 billion)