Tags: african | billionaires | 55 | named

African Billionaires, 55 of Them, Named in Larger-Than-Expected List

Image: African Billionaires, 55 of Them, Named in Larger-Than-Expected List
African billionaries Aliko Dangote, left, and Folorunsho Alakija.

By    |   Tuesday, 08 Oct 2013 11:41 AM

There are 55 African billionaires whose combined fortunes exceed $140 billion, Ventures magazine reported Monday.

The number of the continent's mega-rich far surpasses the previously reported number of billionaires in Africa, which was as few as 16.

Editor's Note: ObamaCare Is Here. Are You Prepared?

"The pan-African business magazine said it was able to uncover dozens of new billionaires by using 'on-the-ground knowledge' to overcome hurdles that may have 'hampered' other researchers," according to Agence France-Presse.

The new, exhaustive list is impressive because Africans are known for being fiercely protective over their financial information.

"There is this culture of you don't necessarily want to show your wealth, considering the gap between rich and poor," Uzo Iweala, Ventures' editor-in-chief, told the BBC's Focus on Africa radio program. "If you have a lot of money, there are a lot of people that you have to support so we think people may be a little reluctant to be all splashy about what they have and what their assets are."

Among the African billionaires are oil tycoons, fashion designers, politicians' children, and those who made their billions in the construction, retail, and diamond mining businesses.

Coming in at No. 1 is Aliko Dangote, a 56-year-old Nigerian man whose $20.2 billion fortune comes from his manufacturing conglomerate.

Folorunsho Alakija is Africa's richest woman with $7.3 billion she amassed by leading one of Nigeria's most profitable oil companies. Alakija, 62, is No. 4 overall on Ventures' list thanks to the additional income from her popular fashion label, Supreme Stitches.

Of all 55 billionaires, 20 are Nigerian, nine are South African, and eight are Egyptian, according to Ventures.

The full list is published in the October issue of Ventures.

Editor's Note: Do You Support Obamacare? Vote in Urgent National Poll

Related stories:

Forbes Richest 400 Americans: Zuckerberg, Musk Rise, Gates on Top

Forbes Says Toby Keith Is Country Music's Richest Man

Gates Tops Forbes List of America's Richest  

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
TheWire
There are 55 African billionaires whose combined fortunes exceed $140 billion, Ventures magazine reported Monday.
african,billionaires,55,named
322
2013-41-08
Tuesday, 08 Oct 2013 11:41 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved