This year, a record 1,826 billionaires made it to FORBES’ annual ranking of the world’s richest people.
There are 29 African billionaires this year, the same number as in 2014. While 2 tycoons – South African mining magnate Desmond Sacco and Moroccan real estate mogul Anas Sefrioui fell off the billionaire rankings this year, Mohammed Dewji of Tanzania makes his debut on the list with a fortune estimated at $1.3 billion. At 39, Dewji is the youngest billionaire in Africa. Dewji’s company, METL Group manufactures textiles and consumer goods and has annual revenues of more than $1.4 billion. Nigerian-born Femi Otedola, 50, rejoins the list of African billionaires after a 5-year hiatus with a $1 billion fortune. He owns a controlling stake in Forte Oil, a publicly-listed energy distribution company in Nigeria. Folorunsho Alakija of Nigeria and Isabel dos Santos of Angola are the only two female billionaires on the continent.
Meet the 29 Africans who are worth $1 billion or more:
Aliko Dangote, $15.7 billion
Nigerian, Cement, Flour, Sugar
Falling stock prices and a recent valuation of the Naira might have dented his fortune, causing him to lose roughly $10 billion since last year, but Aliko Dangote is still the richest man in Africa. His Dangote Group is West Africa’s largest industrial conglomerate and has interests in cement production, flour milling, sugar refining and food and beverages.