Home » Nigerian billionaire Aliko Dangote retains position as Africa’s richest man for eleventh year in row

Nigerian billionaire Aliko Dangote retains position as Africa’s richest man for eleventh year in row

by Omokolade Ajayi

Aliko Dangote, Africa’s richest man, has retained his position as the continent’s wealthiest man for the eleventh year in a row, as Africa’s billionaires recorded an impressive surge in their net worth in 2021 despite the impact of the global pandemic on financial assets.

Dangote recorded a $1.8-billion wealth hike in 2021, up from $2 billion the previous year, as his net worth increased to $13.9 billion (Bloomberg values his wealth at $20.4 billion).

The surge in his net worth was triggered by a 30-percent increase in the stock price of Dangote Cement, his most valuable asset. Meanwhile, 18 of the continent’s billionaires tracked by Forbes saw a $4.7-billion wealth increase during the year, compared to a $4.1-billion wealth gain in 2020.

With no new members joining Forbes’ exclusive list of African billionaires last year, the continent’s 18 billionaires are worth an estimated $84.9 billion, a 15-percent increase from the previous year when they were worth a combined $73.8 billion.

Johann Rupert, South Africa’s richest man, has risen two places to become Africa’s second-wealthiest man, with a net worth of $11 billion (Bloomberg values his wealth at $11.9 billion). Rupert’s fortune grew by more than $3.8 billion in 2021 thanks to a 60-percent increase in the share price of his luxury goods holding company, Richemont.

With a net worth of $8.7 billion (Bloomberg values his wealth at $8.2 billion), Nicky Oppenheimer is the third-richest man in Africa, while Egyptian billionaire Nassef Sawiris and Nigerian industrialist Abdul Samad Rabiu are the fourth- and fifth-wealthest men in Africa, respectively.

Rabiu’s net worth has risen by more than $1.5 billion in the last year, to more than $7 billion, after he took another of his companies public.

Strive Masiyiwa, a Zimbabwean billionaire, saw his net worth increase by 125 percent to $2.7 billion in 2021, from $1.2 billion, thanks to a 750-percent increase in the shares of his publicly-traded telecom company, Econet Wireless Zimbabwe.

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