There are at least 55 billionaires on the African continent. That's according to the Africa's Richest survey from Venture Africa, an Africa-based business magazine.
There are 10 countries represented on the list, with Nigeria leading the way with 20 billionaires, South Africa with nine and Egypt with eight.
The combined wealth of Africa's 55 billionaires is $143.88 billion, and the average wealth is $2.6 billion.
The richest man on the list is Aliko Dangote, whose investments in manufacturing three decades ago have grown into a $20.2 billion net worth. He is followed by South African investor Allan Gray and Nigerian oil and telecom businessman Mike Adenuga.
Of Nigeria's billionaires, 13 have significant or total investments in the oil business, and mining is a sector tapped by many on the list across the continent.
The Venture Africa survey has more than triple the number of billionaires reported by previous lists. Forbes Magazine noted only 16 billionaires in Africa in late 2012.
Venture Africa's Publisher Chi Chi Okonjo said his magazine's Nigerian and South African base help with having more information than some lists - which is why his survey is more comprehensive.
"We know, because we have people on ground, some of these people are actually people we know personally," Okonjo explained. "So we know their assets... .That's the difference... .You really need to be on ground to know what's happening. So we're able to provide much more detailed information."
His editorial staff calculated wealth through publicly held shares, privately held companies, investment bankers, financial analysts and other financial barometers.
Read more here: http://allafrica.com/stories/201310110206.html
There are 10 countries represented on the list, with Nigeria leading the way with 20 billionaires, South Africa with nine and Egypt with eight.
The combined wealth of Africa's 55 billionaires is $143.88 billion, and the average wealth is $2.6 billion.
The richest man on the list is Aliko Dangote, whose investments in manufacturing three decades ago have grown into a $20.2 billion net worth. He is followed by South African investor Allan Gray and Nigerian oil and telecom businessman Mike Adenuga.
Of Nigeria's billionaires, 13 have significant or total investments in the oil business, and mining is a sector tapped by many on the list across the continent.
The Venture Africa survey has more than triple the number of billionaires reported by previous lists. Forbes Magazine noted only 16 billionaires in Africa in late 2012.
Venture Africa's Publisher Chi Chi Okonjo said his magazine's Nigerian and South African base help with having more information than some lists - which is why his survey is more comprehensive.
"We know, because we have people on ground, some of these people are actually people we know personally," Okonjo explained. "So we know their assets... .That's the difference... .You really need to be on ground to know what's happening. So we're able to provide much more detailed information."
His editorial staff calculated wealth through publicly held shares, privately held companies, investment bankers, financial analysts and other financial barometers.
Read more here: http://allafrica.com/stories/201310110206.html
you got no idea what you speak of
@ people taking pride in billionaires because of their race.