Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man

March 27, 2011 by Website Admin · 2 Comments

Africa’s Billionaires on the Forbes list made records this year with a few surprises. 6 new Billionaires added to last year’s list of 11 bringing them to 17 Billionaires. Topping the list is Nigeria’s Aliko Dangote who displaced Ethiopian Self Made Billionaire, Mohammed Al Amoudi as Africa’s Richest man.

Although no other countries from Africa added to the list this year, Egypt managed to double its Billionaires from 4 to 8. Nigeria and South Africa also gained 1 new billionaire addition to the list. Overall African Billionaires on this year’s list are worth a combined 71 Billion, with last year’s billionaires alone increasing their wealth by a combined 18 Billion. The biggest increase was experience by our new Richest man, Dangote who made 10.7 Billion, putting him at the top of the list making him number 51 on the World’s Richest list.

Name	Africa Rank	Forbes Rank	Net Worth	Age	Source	Country of Citizenship/HomeTown
Aliko Dangote	1	51	$13.8 B	53	sugar, flour, cement	Nigeria
Mohammed Al Amoudi	2	63	$12.3 B	66	oil	Saudi Arabia/Ethiopia
Nicky Oppenheimer & family	3	136	$7 B	65	De Beers	South Africa
Nassef Sawiris	4	182	$5.6 B	50	construction	Egypt
Patrick Soon-Shiong	5	196	$5.2 B	59	generic drugs	United States/South Africa
Johann Rupert & family	6	219	$4.8 B	60	luxury goods	South Africa
Naguib Sawiris	7	310	$3.5 B	56	telecom	Egypt
Patrice Motsepe	8	336	$3.3 B	49	Mining	South Africa
Onsi Sawiris	9	393	$2.9 B	81	construction	Egypt
Mohamed Mansour	10	595	$2 B	63	Diversified	Egypt
Mike Adenuga	10	595	$2 B	57	telcom, banking, oil	Nigeria
Yasseen Mansour	11	692	$1.8 B	49	Diversified	Egypt
Youssef Mansour	11	692	$1.8 B	65	Diversified	Egypt
Mo Ibrahim	11	692	$1.8 B	64	communications	United Kingdom/Sudan
Christoffel Wiese	12	782	$1.6 B	69	consumer retail	South Africa
Samih Sawiris	13	879	$1.4 B	54	hotels	Egypt
Mohamed Al Fayed & family	14	993	$1.2 B	78	Retail	Egypt

Filed Under: Featured, Money Matters
Tagged: 2011 African Billionaires, Africa's Richest, Africa's Richest Men, African Billionaires, Aliko Dangote,Christoffel Wiese, Egypt Richest, Johann Rupert & Family, Mike Adenuga, Mo Ibrahim, Mohamed Al Fayed & family, Mohamed Mansour, Mohammed Al Amoudi, Naguib Sawiris, Nassef Sawiris, Nicky Oppenheimer & Family, Nigeria's Richest, Onsi Sawiris, Patrice Motsepe, Patrick Soon-Shiong, Richest African, Richest Billionaire, Richest Man in Africa, Samih Sawiris, South Africa's Richest, Sudan's Richest, Yasseen Mansour, Youssef Mansour

Africa’s Billionaires of 2010

March 12, 2010 by AVReporter · 214 Comments

It must be nice to be Ethiopian Self Made Billionaire, Mohammed Al Amoudi, Africa’s Richest man. His wealth grew by a billion despite the economic downturn. It is that time of year again and Forbes has put together a list of the World’s richest. On it are 11 Africans 4 from one family in Egypt, 4 from South Africa, 1 from Sudan, 1 from Nigeria and 1 from Ethiopia.

There was 1 new addition to the list this year, Samih Sawiris, son of Egyptian billionaire, Onsi Sawiris whose other 2 sons are on the list as well. Nigeria did loose a billionaire this year, Femi Otedola who had a bitter disagreement with fellow billionaire Aliko Dangote last year. Despite some major challenges, Dangote still made it on the list as the 9th richest man in Africa.

Photo By Hans Berggren

Africa’s Billionaires (No. 1)

Name: Mohammed Al Amoudi
Net Worth: 10 Billion
Origin: Ethiopia
Age: 65
Fortune: Self Made
Source: Oil
Education: N/A
Forbes World Ranking #64

AP Photo

Africa’s Billionaires (No. 2)

Name: Nassef Sawiris
Net Worth: 5.9 Billion
Origin: Egypt
Age: 48
Fortune: Inherited and Growing
Source: Construction
Education: Bachelor of Science

Forbes World Ranking #127

AP Photo

Africa’s Billionaires (No. 3)

Name: Nicky Oppenheimer & Family
Net Worth: 5 Billion
Origin: South Africa
Age: 65
Fortune: Inherited
Source: Metals and Mining
Education: Bachelor of Arts / Science and Master of Arts

Forbes World Ranking #154

Photo from Forbes.com

Africa’s Billionaires (No. 4)

Name: Patrick Shoo-Shiong
Net Worth: 5 Billion
Origin: South Africa
Age: 58
Fortune: Self Made
Source: Generic Drugs
Education: Bachelor of Arts / Science; Medical Doctor

Forbes World Ranking #154

GIUSEPPE CACACE/AFP/Getty Images

Africa’s Billionaires (No. 5)

Name: Onsi Sawiris
Net Worth: 3.1 Billion
Origin: Egypt
Age: 80
Fortune: Self Made
Source: Construction
Education: N/A

Forbes World Ranking #307

AP Photo

Africa’s Billionaires (No. 6)

Name: Naguib Sawiris
Net Worth: 2.5 Billion
Origin: Egypt
Age: 55
Fortune: Inherited
Source: Telecom
Education: Bachelor of Arts / Science; Master of Science

Forbes World Ranking #374

Photo by 2010 FIFA World Cup Organising Committee South Africa/Getty Images

Africa’s Billionaires (No. 7)

Name: Johann Rupert & Family
Net Worth: 2.3 Billion
Origin: South Africa
Age: 59
Fortune: Inherited
Source: Luxury Goods
Education: Bachelor of Arts / Science

Forbes World Ranking #421

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Africa’s Billionaires (No.
Name: Patrice Motsepe
Net Worth: 2.3 Billion
Origin: South Africa
Age: 48
Fortune: Self Made
Source: Mining
Education: Bachelor of Arts / Science; Doctor of Jurisprudence
Forbes World Ranking #421
PIUS UTOMI EKPEI/AFP/Getty Images
Africa’s Billionaires (No. 9)
Name: Aliko Dangote
Net Worth: 2.1 Billion
Origin: Nigeria
Age: 52
Fortune: Inherited
Source: Sugar, Flour, Cement
Education: N/A
Forbes World Ranking #463
Sipa Press/Newscom
Africa’s Billionaires (No. 10)
Name: Mohammed Ibrahim
Net Worth: 2.1 Billion
Origin: Sudan
Age: 64
Fortune: Self Made
Source: Communications
Education: Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering
Forbes World Ranking #463
Arnd Wiegmann / Reuters
Africa’s Billionaires (No. 11)
Name: Samih Sawiris
Net Worth: 1.5 Billion
Origin: Egypt
Age: 53
Fortune: Inherited
Source: Hotels
Education: Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering
Forbes World Ranking #655

Filed Under: Featured, Money Matters
Tagged: African Billionaires, Aliko Dangote, Forbes list, Johann Rupert & Family, Mohammed Al Amoudi,Mohammed Mo Ibrahim, Naguib Sawiris, Nassef Sawiris, Nicky Oppenheimer & Family, Onsi Sawiris,Patrice Motsepe, Patrick Shoo-Shiong, Samih Sawiris

Africa’s 11 Billionaires 2009

March 15, 2009 by AVReporter · 7 Comments

1. Mohammed Al Amoudi

FORBES RANKING: #43

Photo by asplundbild.com

Net Worth:$9.0 bil

Fortune:self made

Source:oil

Age:63

Country Of Citizenship:Saudi Arabia

Residence:Jeddah

Industry: Oil

Education:NA,

M arital Status:married, 8 children

Born in Ethiopia and now a Saudi citizen. Built fortune in construction and real estate in Saudi Arabia before betting on energy. Began investing in Sweden in 1974; owns Svenska Petroleum and Swedish refinery Preem. Has invested more than $2 billion in Ethiopia, from hotels to stevedoring. Hit jackpot with gold mine in the Oromo region of Ethiopia; it now produces 6 tons of gold annually, set to double production by 2010. Owns several properties in London and the U.S. Donated more than $1 million to the Clinton Foundation.

2. Patrick Soon-Shiong

FORBES RANKING: #87

Photo by SPH/The Business Times

Net Worth:$5.5 bil

Fortune:self made

Source: Generic Drugs

Age: 57

Country Of Citizenship:United States

Residence:Los Angeles, CA

Industry: Pharmaceuticals

Education:University of Witwatersrand, Bachelor of Arts / Science, University of Witwatersrand, Medical Doctor

M arital Status:married, 2 children

Dad was a village doctor in China; family immigrated to South Africa during WWII. Finished high school at age 16; was a doctor by 23. Got only half-salary because of apartheid race rules. Joined UCLA faculty 1980; developed technique for inserting islet cells into pancreas to treat diabetes. Founded VivoRx; quit after fight with brother, investors. Took American Pharmaceutical Partners public 2001. Invented cancer drug Abraxane; nanotech drug is more potent, has fewer side effects. Split company in two in 2007: APP Pharmaceuticals creates hospital products, Abraxis BioScience develops drugs (shares flat in past 12 months). Sold APP Pharmaceuticals to German dialysis-clinic operator Fresenius for $5.6 billion including debt in July; netted $3 billion. Plans to donate $1 billion to create “the Bell Labs of health care.” Will hire mathematicians, physicists, computer scientists, doctors to build database of biological markers to better identify ailments, treatments.

3. Nicky Oppenheimer & family

FORBES RANKING: #98

Per-Anders Pettersson/Reportage by Getty Image

Net Worth:$5.0 bil

Fortune:inherited

Source:De Beers

Age:63

Country Of Citizenship:South Africa

Residence:Johannesburg

Industry:Metals & Mining

Education:Christ Church, Oxford U, Bachelor of Arts / Science, Christ Church, Oxford U, Master of Arts

Marital Status:married, 1 child

Chairman of De Beers, world’s largest diamond producer, which had $5.9 billion in sales last year. Has been through a sea change over past five years: sold off a piece of De Beers’ South African operations to a black-empowerment group, first major ownership change in a century; welcomed its first black executive; and settled a long-standing price-fixing suit that prevented it from opening offices in the U.S. Sold off a third of family’s interest in mining giant Anglo American, founded in 1917 by grandfather Ernest. On behalf of De Beers, Oppenheimer courted Russian President Vladimir Putin in fall of 2006; two months later De Beers and Russia’s state-owned Alrosa diamond mining firm signed joint prospecting deal. With the demand dampening, the company bought fewer stones for resale from Alrosa last year. In December announced that production from its biggest open-pit mines in South Africa and Botswana, which had been running at full capacity, would be reduced until diamond demand recovers. His response to declining markets, “If you’re going through hell, keep going.”

4. Nassef Sawiris

FORBES RANKING: #196

MEIGNEUX/SIPA

Net Worth:$3.1 bil

Fortune:inherited and growing

Source:construction

Age:47

Country Of Citizenship:Egypt

Residence:Cairo

Industry: Construction & Engineering

Education:University of Chicago, Bachelor of Arts / Science,

Marital Status:NA,

Youngest son of Orascom conglomerate founder and fellow billionaire, Onsi Sawiris. Took over leadership of empire’s flagship construction and fertilizer division in 1998; Orascom Construction shares tumbled 80% over past year. Chief still bullish, projecting 50% increase in group revenues from projects in Gulf and North Africa; company also sitting on $1 billion cash war chest. Spun off group’s cement division 2 years ago to French giant LaFarge, landing Nassef a seat on the board and a 13% stake. University of Chicago grad launched boardroom battle last October at U.S. cement supplier Texas Industries, in which he holds 15% stake; succeeded in rallying shareholders to pass no-confidence votes against 2 board members to protest company’s poor performance, no one was ousted. Asking for board seat and chance to increase stake to 25%.

5. Naguib Sawiris

FORBES RANKING: #205

JEROME FAVRE/Bloomberg News /Landov

Net Worth:$3.0 bil

Fortune:inherited and growing

Source:telecom

Age:54

Country Of Citizenship:Egypt

Residence:Cairo

Industry: Telecommunications

Education:Swiss Federal Polytechnical Institute, Bachelor of Arts / Science, Swiss Federal Polytechnical Institute, Master of Science

Marital Status:married, 4 children

Eldest son of Orascom conglomerate founder and fellow billionaire Onsi Sawiris. Heads up Orascom Telecom, one of largest mobile providers in Middle East, Africa and South Asia. Telecom tycoon’s insatiable risk appetite backfiring; his personal fund, Weather Investments, saddled with $7.7 billion in debt from leveraged buyouts of Italian phone company Wind and leading Greek telecom companies Wind Hellas and Tellas three years ago. Sold 10% of fund to trio of private equity players for $1 billion last year to pay down debt. Not slowing down: in December paid a visit to Kim Jong Il to sign license agreement granting Orascom exclusive access to North Korea’s cell phone market; first mobile company to invest in the pariah state.

6. Aliko Dangote

FORBES RANKING: #261

Pius Utomi/AFP/Getty Images

Net Worth:$2.5 bil

Fortune:inherited and growing

Source:sugar, flour, cement manufacturing

Age:51

Country Of Citizenship:Nigeria

Residence:Lagos

Industry: Manufacturing

Education:NA,

Marital Status:NA,

Though initial offerings of his sugar and flour companies were oversubscribed in 2007, stocks in both have fallen nearly 70% since last February. Using his role as committee member on government economic advisory board to encourage federal government to rescue the nation’s capital markets. His conglomerate, the Dangote Group, has expanded its cement operations with new plants across Nigeria and as well as South Africa and Ethiopia. Sparring with new Nigerian billionaire Femi Otedola over oil and gas concessions; Otedola parried by buying up stock in Dangote’s companies. Dangote began career as trader at age 21 with loan from his uncle; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas. Closely linked to Nigeria’s former president Olusegun Obasanjo.

7. Mohammed Ibrahim

FORBES RANKING: #334

Source: Forbes.com

Net Worth:$2.0 bil

Fortune:self made

Source:communications

Age:NA

Country Of Citizenship:United Kingdom

Residence:London

Industry: Telecommunications

Education:NA,

Marital Status:NA,

Sudanese-born “Mo” founded Celtel, a mobile phone company that now serves 15 African countries. Sold it in 2005 for $3.4 billion; pocketed $1.4 billion. The London resident now spends his time on philanthropy and investing in Africa. Created Mo Ibrahim Foundation to award monetary prize to former African heads of state who have shown exemplary leadership in such areas as promoting political freedom; awarded first $5 million prize in October.

8. Onsi Sawiris

FORBES RANKING: #430

Image Source: Al-Ahram Weekly

Net Worth:$1.7 bil

Fortune:self made

Source:construction

Age:79

Country Of Citizenship:Egypt

Residence:Cairo

Industry: Construction & Engineering

Education:Bachelor of Arts / Science,

Marital Status:married, 3 children

Founding patriarch of Egypt’s most famous business dynasty saw shares in primary holding, Orascom Construction Industries, plunge 80% over past year; remains chair. His 3 sons run construction, telecommunications and tourism divisions. Studied agriculture in college after lawyer father urged him to pursue farming. Found it boring, instead opened a small contracting firm in Upper Egypt. Construction baron forced to rebuild empire after it was nationalized by Nasser in 1960s.

9. Patrice Motsepe

FORBES RANKING: #559

Gianluigi Guercia/AFP/Getty Images

Net Worth:$1.3 bil

Fortune:self made

Source:mining

Age:47

Country Of Citizenship:South Africa

Residence:Johannesburg

Industry: Metals & Mining

Education:Bachelor of Arts / Science, Doctor of Jurisprudence

Marital Status:married, 3 children

Johannesburg mining magnate is South Africa’s first black billionaire. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $875 million (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: platinum, nickel, chrome, iron, manganese and coal. Benefited from South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 5.5% stake in Sanlam, a publicly traded financial services company outside Cape Town.

10. Femi Otedola

FORBES RANKING: #601

Pius Utomi/AFP/Getty Images
Net Worth:

$1.2 bil

Fortune:self made

Source:Energy

Age:42

Country Of Citizenship:Nigeria

Residence:

Industry: Energy

Education:NA,

Marital Status:married, 4 children

Politician’s son used a majority stake in African Petroleum to get himself appointed its chief executive last year. Now he plans to merge it with his private firm, Zenon, to create the continent’s largest oil company. Deal has stalled in the face of government concerns about a monopoly, with his assets temporarily frozen last year. Nigerian regulators lifted the ban in January. Conflict abounds in Otedola’s life: he claims his friend and fellow billionaire, Aliko Dangote, broke a gentleman’s agreement when he thwarted Zenon’s bid to buy Chevron’s local subsidiary in September. In retaliation, starting buying shares in Dangote’s publicly traded sugar company.

11. Johann Rupert & family

FORBES RANKING: #601

David Cannon/Getty Images

Net Worth:$1.2 bil

Fortune:inherited and growing

Source:luxury goods

Age:58

Country Of Citizenship:South Africa

Residence:Stellenbosch

Industry: Retail

Education:University of Stellenbosch, Bachelor of Arts / Science,

Marital Status:married, 3 children

Head of publicly traded Swiss luxury group Richemont, which owns Cartier, Dunhill and other premium brands. Stock down 70% since last February. His South African holding company, Remgro, is listing its stake in British American Tobacco on the Johannesberg exchange. But unbundling of the BAT stake will create pressure to find investments to replace the asset, say analysts. His private South African investment outfit, VenFin, finalized a much-anticipated deal to acquire British rugby club Saracens. With family relatives, owns two of South Africa’s best-known vineyards, Rupert & Rothschild and L’Ormarins; also owns one of the country’s most exclusive golf clubs.

Filed Under: Featured, Lifestyle
Tagged: Aliko Dangote, Femi Otedola, Johann Rupert, Mohammed Al Amoudi, Mohammed Ibrahim, Naguib Sawiris, Nassef Sawiris, Nicky Oppenheimer, Onsi Sawiris, Patrice Motsepe, Patrick Soon-Shiong

Nigeria's Aliko Dangote is now the World's Richest Black Person