Sunday , April 11 2021

The wealth of the African super-rich also peaked during the epidemic

African billionaires continued to increase their wealth last year, with the 18 richest holding over $ 73.8 billion, according to a recent Forbes list. That amount is already a little more than the $ 73.4 billion in wealth that even the 20 richest had even owned a year earlier. It also indicates that, like their counterparts on other continents, the richest people in Africa have recovered well from the crisis caused by the coronavirus epidemic.

Forbes estimates the wealth of the 18 richest Africans averages $ 4.1 billion, up 12 percent from the previous year. The increase was largely due to the fact that stock prices rose on the Nigerian stock exchange last year. This is where the securities of companies owned by several super rich people on the continent revolve.

For the tenth year in a row, Nigerian Aliko Dangote is at the top of the Forbes compilation, whose assets are estimated at 12.1 billion dollars. Compared to the previous year, this is a $ 2 billion increase, primarily due to a 30 percent increase in Dangote Cement’s securities, which is considered its most valuable investment.

Click on the image to see nine more of the richest businessmen from Africa in our gallery:

Nigerian Aliko Dangote is the richest man in Africa for a decade – click on the image for photos of other billionaires!Source: AFP / Stephane De Sakutin

The second richest is Egypt’s Nassef Sawiris, whose largest investment is in Adidas ’6 percent stake in the sports equipment maker. The third is South African Nicky Oppenheimer, who at the time inherited an incredible stake in the diamond company DeBeers, which was under his control until 2012. Then that same year, he sold his 40 percent family stake to the Anglo-American mining giant for $ 5.1 billion.

Last year’s biggest winner was cement mogul Abdulsamad Rabiu, which is mainly due to the fact that the main interest of the entrepreneur, the Nigerian included BUA Cement Plc. its share price doubled last year. So her fortune climbed an incredible 77 percent to $ 5.5 billion.

Isabel dos Santos, who not so long ago was the richest African woman.Source: AFP / Miguel Riopa

Of course, among the richest on the continent last year were the big losers. The most famous of them in the world is Isabel dos Santos, an Angolan woman who is the richest woman in Africa since 2013 and whose embezzlement and money laundering led to the court freezing her property in Angola and Portugal. Forbes estimates that dos Santos’ funds have practically equaled that.

The 18 richest Africans, by the way, represent a total of seven countries, of which five are Egyptians, ie South Africans, as well as three Nigerians and two Moroccans. Forbes took into account those who either live in an African country or do business in such a country as the number one source of wealth when compiling the scale.

As Origo presented in this article, during the coronavirus epidemic that began last year, a number of very wealthy people further increased their wealth, primarily because of the business for which the pandemic increased demand. The ten richest people in the world on the list amassed nearly $ 450 billion in wealth in 2020 as their business performed better than expected during the closure and transformation of the financial market.

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