Money

Folorunsho Alakija out as Forbes releases list of 18 African billionaires, see Dangote's position

Wednesday, January 27, 2021 at 8:15 AM by Victor Duru

- Dangote still leads Africa's billionaire pack, according to Forbes 2021 Africa's billionaires' ranking

- The business magnate sits at the top of the annual listing for the 10th straight time

- Mike Adenuga, Abdul Samad Rabiu are the other two Nigeria's that made it to the top 10

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With a net worth pegged at $12.1 billion, Aliko Dangote may not be getting off the top of Africa's rich list anytime soon, at least not in 2021.

The Nigerian business tycoon, according to Forbes Africa's Billionaires list has emerged top of the 2021 ranking for a record 10-year running.

Despite the economic downturn and drag as a result of the Coronavirus pandemic, a 30% increase in the share price of his Dangote Cement meant his wealth climbed by $2 billion and bettered that of last year.

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Folorunsho Alakija out as Forbes releases list of 18 African billionaires, see Dangote's position — 3 Nigerian billionaires make Forbes 2021 Africa's billionaires' list, Dangote leads again Photo Credit: Bloomberg, Mike Adenuga on Facebook, Nigeria Book of Records
Source: Getty Images

Two other Nigerians made it into the 2021 top 10 list - Mike Adenuga and Abdulsamad Rabiu.

While Cement and sugar businessman Abdulsamad Rabiu (#6) owes his remarkable rise in fortune to his BUA Cement PLC shares which doubled in value in the past year to put his net worth at $5.5 billion, Globacom telecom boss Mike Adenuga (#5) net worth sits at $6.3 billion from $5.7 billion in 2020.

Meanwhile, drop in oil prices led to a consequent drop in the wealth of Nigeria's Folorunsho Alakija, who owns an oil exploration company, to put her below the $1 billion mark and thus off the list.

Others in the top 10 list are Nassef Sawiris of Egypt (#2 - $8.5 billion), Nicky Oppenheimer of South Africa (#3 - $8 billion), Johann Rupert (#4 - $7.2 billion), Issad Ribrab (#7 - $4.8 billion), Naguib Sawiris (#8 - $3.2 billion), Patrice Motsepe (#9 - $3 billion), Koos Bekker (#10 - $2.8 billion).