Home » Africa’s richest men see their net worth increase by $2.19 billion in 2021

Africa’s richest men see their net worth increase by $2.19 billion in 2021

by Omokolade Ajayi

The net worth of Africa’s wealthiest billionaires, Aliko Dangote, Johann Rupert, Nicky Oppenheimer and Nassef Sawiris, has increased by a cumulative $2.19 billion so far this year.

The rise in their wealth marks a recovery from a massive decline last year.

The gains in their net worth can be attributed to a rise in the market value of their companies, as investor buying interest driven by improved earnings pushed share prices to record highs.

Data retrieved from the Bloomberg Billionaire Index revealed that only four African billionaires made it to Bloomberg’s top 500-richest billionaire ranking.

According to the index, the billionaires have a joint wealth valuation of $41.75 billion, as of press time 9:22 AM (UTC), Aug. 24.

The fortune of Africa’s wealthiest man, Aliko Dangote, valued at $18.1 billion, accounts for 43.35 percent of the billionaires’ combined $41.75-billion wealth valuation.

Of the four billionaires, South Africa’s richest man Johann Rupert recorded the highest wealth gains ($1.28 billion), followed by fellow South African billionaire Nicky Oppenheimer, who has notched a net-worth gain of $375 million so far this year.

This is how these African billionaires performed:

#1 Johann Rupert

Wealth gains: $1.28 billion

Net worth: $9.3 billion

The net worth of South Africa’s wealthiest man Johann Rupert is valued at $9.3 billion, according to the Bloomberg Billionaire Index

His current net worth is $1.28 billion, higher than the valuation of $8.02 billion at the start of the year. The billion-dollar increase in his fortune follows a double-digit rise in Compagnie Financiere Richemont SA (Richemont), the luxury goods holding that he founded in 1988.

He derives the majority of his wealth from his ownership stake in the Switzerland-based company, which controls brands such as Jaeger-LeCoultre and Cartier.

Aside from the performance of Rupert’s stake in Richemont, the gains in his wealth can also be attributed to his investments in Reinet and Remgro Limited.

#2 Nicky Oppenheimer

Wealth gains: $375 million

Net worth: $7.53 billion

According to Bloomberg estimations, Nicky Oppenheimer, South Africa’s second-wealthiest man and one of Africa’s most prosperous men, has seen his net worth increase by $375 million since the start of the year.

His $7.53-billion net worth is 5.2-percent higher than the $7.15-billion valuation when the year began.

The $375-million wealth gain was spurred by an increase in the market value of his investments in private equity firms.

Oppenheimer maintains private equity investments in Africa, Asia, the United States and Europe through the London-based Stockdale Street and Johannesburg-based Tana Africa Capital.

#3 Aliko Dangote

Wealth gains: $304 million

Net worth: $18.1 billion

Africa’s wealthiest man Aliko Dangote has seen his net worth increase by 1.7 percent this year to $18.1 billion as of press time, 8:25 AM (UTC), Aug. 24.

Dangote, the founder of Dangote Industries Limited, the most diversified manufacturing conglomerate in Sub-Saharan Africa, has recorded a $304-million gain in his wealth this year.

The $304-million gain came off a near two-percent rise in the shares of his flagship cement company, Dangote Cement Plc, while his stakes in Dangote Sugar Refinery and NASCON Allied Industries also have recorded gains this year.

Dangote derives the bulk of his wealth from his 86-percent stake in Dangote Cement.

#4 Nassef Sawiris

Wealth gains: $226 million

Net worth: $6.82 billion

Egypt’s wealthiest man Nassef Sawiris has seen his wealth increase by 3.4 percent so far this year to a valuation of $6.82 billion.

The $226-million increase in his net worth can be linked to a rise in the shares of Adidas on the “Deutsche Börse” stock exchange in Frankfurt.

Sawiris, a scion of Egypt’s wealthiest family, holds a 3.72-percent stake in the German-based sportswear and sports equipment manufacturer.

Adidas is the largest sportswear and sports equipment manufacturer in Europe. Sawiris’ stake in the behemoth accounts for the bulk of his $6.8- billion fortune.

What’s worth noting

The joint net worth of Dangote, Rupert, Oppenheimer and Sawiris represents 46 percent of the joint wealth gains of Elon Musk, Jeff Bezos, Bernard Arnault and Bill Gates so far this year.

While the joint net worth of the four wealthiest billionaires globally has increased by $90.8 billion so far this year, the four richest African billionaires have seen their wealth increase by $2.19 billion.

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