Forbes releases 2019 list of Africa's richest billionaires, Dangote tops it

Forbes releases 2019 list of Africa's richest billionaires, Dangote tops it

- Forbes releases list of Africa's richest billionaires and four Nigerians made the list

- Aliko Dangote, Mike Adenuga Folorunsho Alakija and Abdulsamad Rabiu were named as Africa's top billionaires

- This is the eighth year in a row that Dangote would top the list as the richest billionaire in Africa

Four Nigerians have topped the list of Africa's richest billionaires in Forbes newly released ranking for 2019. The list which ranked twenty-three people in 2018, ranks twenty Africans as the richest billionaires in the continent this year.

In the 2019 list, Aliko Dangote, Mike Adenuga, Folorunsho Alakija and Abdulsamad Rabiu are the Nigerians who made the list.

Dangote topped the list with a net worth of $10.3 billion, Adenuga made number two with a net worth of $9.2 billion, Abdulsamad Rabiu was number 16 with $1.6 billion and Alakija was number 19 on the list with a net worth of $1.1 billion.

Forbes

Forbes releases 2019 list of Africa's richest billionaires, Dangote tops it UGC source: Forbes
Source: UGC

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It was reported that Dangote is nearly $2 billion less than what is net worth was in 2018. This was reportedly due to a 20% drop in the stock price of Dangote Cement which is his most valuable asset. This is the eighth time Dangote would top the richest billionaires' list in a row.

Forbes recorded the origin of wealth of the billionaires. Dangote's source of wealth comes from his production of cement, sugar and flour, Adenuga owns Nigeria's third-largest mobile phone network and oil exploration firm, Conoil Producing.

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While Alakija owns a stake in one of the most productive oil fields in Nigeria, currently operated by Chevron and Abdulsamad Rabiu a cement mogul who owns the BUA Group

The list ranks Egypt and South Africa with five billionaires each, Nigeria with four and Morocco has two.

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It was revealed that the net worth of the 20 business tycoons altogether sums up to $68.7 billion and the average net worth for each person climbed to $3.4 billion from $3.3 billion in early 2018.

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Meanwhile, Legit.ng had earlier reported that two Nigerians were named among Forbes' 50 world's top women in technology. These women, Amy Jadesimi and Funke Opeke, are the ones topping technology in their fields.

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Source: Legit.ng News

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