The African continent is blessed with abundance in mineral resources and other resources. Gold, diamond, bauxite, manganese, and tin are all available on the lands of Africa. There is a compilation of the 2020 Top Five Richest Africans and it is based on the following methodology.
The ranking of the Top Five Richest Africans was conducted based on the following. They are Africans who are living in Africa and have their business here in Africa. The calculation was done using net worths using exchange rates and stock market prices, revenues, and the ratio of price to sale.
1. Alico Dangote(Top Richest African-2020)
Nigerian Business mogul Alico Dangote is the Wealthiest African currently. He is aged 62 and has a net wealth of over 10 billion dollars ($ 10.1 billion). Dangote’s wealth is known to be derived from his cement factory which produces ‘Dangote Cement’ and is used all over Africa. He also owns a Sugar production company which also serves as his source of wealth. His cement factory produces over 45 million metric tons annually and has operations in ten countries across Africa.
2. Nassef Sawiris(Second Top Richest African-2020)
Nassef Sawiris( the second Top Richest African) is a 58-year-old Egyptian who has a net worth of over eight billion dollars ($ 8 billion). The Cairo based billionaire os the owner of a construction company named Orascom Company Industries as well as a chemical production company that produces large tonnes of Nitrogen fertilizers. His nitrogen fertilizer is one of the largest nitrogen fertilizer company producers. Nassef Sawiris is a major shareholder in Aston Villa Football Club in England.
3. Mike Adenuga
Mike Adenuga is the second Nigerian to make the list. The 66-year-old Lagos based billionaire. He is worth 7.8 billion dollars and he had his educational career at Pace University. He is a telecom and oil businessman. He has a degree in Masters in Business Administration. He has gone through periods of being a taxi driver to selling clothes. Mike’s oil company, Conoil operates six oil blocks in Niger Delta.
4. Nicky Oppenheimer
Nicky Oppenheimer and his family are the fourth richest Africans currently. They have a net worth of over seven thousand billion dollars. They are nationals of South Africa and reside in Johannesburg. Nicky has aged 74 years and the family owns a Diamond Business institution. She sold a 40% stake of the family’s diamond business to Anglo American for over $5.1 billion in cash in 2012. Oppenheimer owns an aviation company in South Africa.
5. Johann Rupert and Family
Johann Rupert and family are the fifth richest in Africa. They become the second South African family to make it onto the list. The family which deals in luxury goods company (Swiss goods) are worth about 6.5 billion dollars. Johann Rupert is aged 69 years. He also owns an English Rugby team. Johann had the opportunity to buy half of Gucci for 175 million dollars but refused to make the offer. Here end the compilation results for the Top Five Richest African. Click here to read even more on Africa’s Billionaires by Forbes.