Nigeria News

Net Worth of Africa’s 55 Billionaires Put at $161.75 Billion

The combined net worth of Africa’s 55 billionaires increased by 12.4 per cent from $143.88 billion in 2013 to $161.75 billion in 2014, a report has shown.

It also showed that Africa maintained its number of billionaires this year.
Ventures Africa revealed this in its second annual Rich List titled, The Richest People in Africa 2014, obtained by THISDAY on Thursday.
The ranking was based on analysed financial reports and extensive due diligence in tracking the fortunes of the billionaires. In addition, the stakes of billionaires that hold shares in publicly traded companies were calculated using the market capitalisation of the listed companies.

Also, private companies were compared to similar publicly traded companies to determine a reasonable enterprise value. In areas where no suitable publicly listed peer was available, the enterprise value of companies were calculated using global industry standards such as earnings before interest, taxes, depreciation, and amortisation (EBITDA) or revenue multiples.

From the computation, the billionaires employ close to half a million people in Africa.
For instance, it showed that while in Egypt, its billionaires employ about 140,000 people, in Nigeria, they have created a total of 120,000 jobs. In South Africa, its billionaires have also created 60,000 jobs.

Similarly, while the billionaires in Morocco and Kenya have created about 40,000 jobs respectively, they are also responsible for the creation of about 20,000 jobs in Tanzania, Uganda and Algeria.

Also, the jobs created by the African billionaires per industry showed that on the continent, they have created about 120,000 jobs in the construction industry, 90,000 in the oil and gas sector, about 60,000 in the financial services and consumables sectors apiece, and 40,000 jobs in the food and beverages sector in the continent.

Other sectors that have benefited in terms of job creation by the continent’s billionaires included the telecoms and real estate sectors with 40,000 jobs respectively, while automobile, healthcare and technology provided 30,000 jobs.

A breakdown of the wealth by age of the 55 African billionaires showed that while 10.5 per cent of them were around 40 years, 51.6 per cent are in their 50s, 59.6 per cent of them in their 60s, 19.5 per cent of them in their 70s and 21.2 per cent of them around 80 years.
Nigerians collectively owned $77.7 billion or 48 per cent of the Rich List’s total wealth – almost as much as all the other countries combined. On the other hand, South Africans collectively accounted for $32 billion or 20 per cent of the Rich List’s total wealth.
Almost 40 per cent of Nigeria’s billionaires’ wealth was attributed to the country’s oil and gas industry, while about 41 per cent of South Africa’s billionaires’ wealth was tied to the financial services industry.

The wealth by industry of the billionaires in Nigeria showed that while 39 per cent of their wealth comes from the oil and gas sector, 34 per cent from the construction sector, nine per cent from telecoms, eight per cent from real estate, five per cent from food and beverages, three per cent from financial services and two per cent from automotive.

“Five people joined the ranking this year, while an equal number dropped out. Some had their wealth fall below our $1 billion cut off, while others had financial challenges that necessitated their removal from the list,” it added.

Africa’s richest

01      Alhaji Aliko Dangote    $25.7 billion
02      Chief Mike Adenuga      $8 billion
03      Johann Rupert    $7.8 billion
04      Folorunsho Alakija      $7.3 billion
05      Nassef Sawiris   $6.9 billion
06      Nicky Oppenheimer       $6.5 billion
07      Allan Gray       $6.2 billion
08      Prince Arthur Eze       $5.8 billion
09      Gilbert Chagoury        $4.3 billion
10      Nathan Kirsh    $3.8 billion
11      Cletus Ibeto     $3.7 billion
12      Christoffel Wiese       $3.6 billion
13      Isabel Dos Santos       $3.5 billion
14      Othman Benjelloun       $3.1 billion
15      Mohammed Mansour        $3 billion
16      Issad Rebrab    $3 billion
17      Benedict Peters $2.7 billion
18      Naguib Sawiris  $2.5 billion
19      Patrice Motsepe $2.5 billion
20      Youssef Mansour  $2.3 billion
21      Jim Ovia        $2.3 billion
22      Miloud Chaabi    $2.3 billion
23      Yasseen Mansour $2 billion
24      Mohammed Dewji  $2 billion
25      Koos Bekker     $1.9 billion
26      Mohamed Al-Fayed        $1.9 billion
27      Theophilus Danjuma      $1.8 billion
28      Manu Chandaria  $1.7 billion
29      Desmond Sacco   $1.7 billion
30      Stephen Saad    $1.7 billion
31      Tony Elumelu    $1.6 billion
32      Onsi Sawiris    $1.5 billion
33      Anas Sefrioui    $1.5 billion
34      Amirali Karmali $1.5 billion
35      Aziz Akhannouch  $1.5 billion
36      Abdulsamad Rabiu        $1.5 billion
37      Mohammed Ibrahim        $1.4 billion
38      Igho Sanomi      $1.3 billion
39      Sudhir Ruparelia        $1.3 billion
40      Rostam Aziz     $1.2 billion
41      Dr. ABC Orjiakor         $1.2 billion
42      Bode Akindele   $1.2 billion
43      Emmanuel Ojei    $1.2 billion
44      Mohammed Indimi  $1.1 billion
45      OB Lulu-Briggs  $1.1 billion
46      Michael Ibru     $1.1 billion
47      Samih Sawiris   $1.1 billion
48      Nicholas Biwott $1.1 billion
49      Sani Bello      $1 billion
50      Strive Masiyiwa $1 billion
51      Mama Ngina Kenyatta     $1 billion
52      Tunde Folawiyo  $1 billion
53      Aminu Dantata   $1 billion
54      Oba Otudeko     $1 billion
55      Akanimo Udofia  $1 billion

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.