However, Dangote saw his wealth drop by $2bn from $12.2bn in January 2018 to $10bn in 2019.
But Dangote retained his position as Africa’s richest man for the eighth consecutive time.
Adenuga, with interests in oil exploration and real estate, moved up to be Africa’s second richest man.
The American magazine said Adenuga’s net worth dramatically increased from $5.3bn to $9.2bn because he provided more detailed information about his assets.
The Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, featured on the list for the first time since 2015.
Rabiu’s Kalambaina Cement Company Limited merged with Cement Company of Northern Nigeria, which he controlled, in December 2018. He now owns 97 per cent of the entity.
The Founder and Executive Chairman, Famfa Oil Limited, Mrs Folorunsho Alakija, whose net worth dropped to $1.1bn from $1.3bn, was ranked 19th.
The rank was a tie with South African banker, Michiel Le Roux.
Commenting on the reduced net worth of the personalities, Forbes said, “Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago.
“Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”
In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two. Forbes found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe.
But Dangote retained his position as Africa’s richest man for the eighth consecutive time.
Adenuga, with interests in oil exploration and real estate, moved up to be Africa’s second richest man.
The American magazine said Adenuga’s net worth dramatically increased from $5.3bn to $9.2bn because he provided more detailed information about his assets.
The Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, featured on the list for the first time since 2015.
Rabiu’s Kalambaina Cement Company Limited merged with Cement Company of Northern Nigeria, which he controlled, in December 2018. He now owns 97 per cent of the entity.
The Founder and Executive Chairman, Famfa Oil Limited, Mrs Folorunsho Alakija, whose net worth dropped to $1.1bn from $1.3bn, was ranked 19th.
The rank was a tie with South African banker, Michiel Le Roux.
Commenting on the reduced net worth of the personalities, Forbes said, “Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago.
“Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”
In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two. Forbes found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe.
From Punch
Good one for them
ReplyDeleteBillionaires that their effect is not felt in their locality.
ReplyDeleteI think dangote is trying o. Schools,police cars, hostels have been built and donated by him
DeleteDn't mind princess oo did they make the money because of them? no b their money?
DeleteHmm SA....#smiling
ReplyDeleteMy name is there...
ReplyDeleteCongrats Mr Dan!
there's only one woman on the list, we need to buckle up and learn to be independent,our future doesnt end in the kitchen
ReplyDeleteThere are actually 2 women.
DeleteBut we all know how they got their money. 💅💅💅💅
See my name o 😘
ReplyDeleteGood to know and congrats to them.
ReplyDeleteMoney is good congratulations to them
ReplyDeleteCongrats to them... Will definitely see my name there by next year
ReplyDeleteCongrats to them
ReplyDeleteMy name is there MrCCC
ReplyDeleteSee my dad's name 👌🏽
ReplyDeleteok........I will compete next year
ReplyDeleteCongrats to them
ReplyDeleteMy name is joining them soon.
ReplyDeleteAm getting There Halleluyah...
ReplyDeleteCongrats to them, ain't easy being there. My name will so be there by 2024😂
ReplyDeleteMoney money money❤❤
ReplyDeleteCongratulations to them..
See me topping the next list oooo
ReplyDeleteMy name is there but i dn't like showing my self
ReplyDelete