Published: Sat, January 12, 2019
Finance | By Loren Pratt

Adenuga rank next to Dangote in Forbes billionaires ranking

Adenuga rank next to Dangote in Forbes billionaires ranking

This may also have contributed to four people falling off the annual list."Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago", the statement read. In the same vein, the man at the top spot, Aliko Dangote also doesn't tithe to pastors or churches and neither does he give first fruit.

Number one on the list is Aliko Dangote with ...

The United States (U.S.) magazine said Adenuga's net worth rose tremendously from $5.3 billion to $9.2 billion because he provided more detailed information about his assets.

Explaining the increase in wealth of numerous public figures, Forbes said, "Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago".

On the home front, the wealthiest man in South Africa is Nicky Oppenheimer with a net worth of $7.7 billion in 2018 down to $7.3 billion.

The industrialist's net worth was put at $10.3 billion, which was $2 billion lower than the $12.2 billion he was said to worth in last year's ranking.

The Chairman of Globacom with interests in oil exploration and real estate, Dr Mike Adenuga Jnr moved up to be Africa's second richest man.


The other three are Koos Bekker with a net worth of $2.3 billion. "All but four members on the list have smaller fortunes than a year ago".

Her net worth, estimated to be $1.1 billion, comes from owning a stake in one of the most productive oil fields in Nigeria, now operated by Chevron.

He is followed closely - if one can use that word when discussing billions - by Nigeria's Mike Adenuga, the founder of Globacom and Conoil Producing.

Another person on the list is the Founder and Executive Chairman, Famfa Oil Limited, Folorunsho Alakija. The fourth dropoff is Onsi Sawiris of Egypt, who owns a stake in Netherlands-based fertilizer and chemical producer OCI N.V. All four fell off due to a decline in the stock price of their main asset.

"He owns almost 88 per cent of the publicly-traded Dangote Cement through a holding company".

Nigeria produced a total of 4 billionaires.

Forbes explained that: "Altogether the 20 African tycoons are worth $68.7 billion, down from $75.4 billion for last year's list".

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