{"id":9306,"date":"2022-01-25T14:24:14","date_gmt":"2022-01-25T14:24:14","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=9306"},"modified":"2022-01-25T14:24:14","modified_gmt":"2022-01-25T14:24:14","slug":"dangote-retains-richest-man-in-africa-position-as-forbes-releases-new-list","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/01\/25\/dangote-retains-richest-man-in-africa-position-as-forbes-releases-new-list\/","title":{"rendered":"Dangote retains richest man in Africa position as Forbes\u2019 releases new list"},"content":{"rendered":"
\n

Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes\u2019 Top 10 Africa\u2019s Billionaires List.<\/p>\n

This latest development is contained in a post on their verified\u00a0Twitter account @Forbes<\/a>.<\/p>\n

According to the report, for 11th year in a row, Aliko Dangote of Nigeria is the continent\u2019s richest person, worth an estimated $13.9 billion, up from $12.1 billion in 2021.<\/p>\n

This according to the magazine, followed a 30 per cent increase in the stock price of Dangote Cement, his most valuable asset.<\/p>\n

A surge in housing developments in Nigeria and growth in government infrastructure spending drove higher demand in the first nine months of 2021, analysts found.<\/p>\n

The report added that Africa\u2019s billionaires were\u00a0 richer than they had been in years, despite the global pandemic.<\/p>\n

As a group, the continent\u2019s 18 billionaires were worth an estimated $84.9 billion \u2013 a 15 per cent increase from twelve months ago and the most since 2014, when a larger number of billionaires\u201328\u2013were worth a combined $96.5 billion.<\/p>\n

On average, the continent\u2019s billionaires were worth $4.7 billion now,\u00a0 worth $3.4 billion in 2014 with soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products from cement to luxury goods ticked up.<\/p>\n

Jumping into the the number two from the list, spot\u2013up from number four last year\u2013was luxury goods magnate, Johann Rupert of South Africa.<\/p>\n

More than 60 per cent surge in the share price of his Compagnie Financiere Richemont\u2013maker of Cartier watches and Montblanc pens\u2013pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the biggest dollar gainer on the list.<\/p>\n

South African Nicky Oppenheimer, who formerly ran diamond mining firm DeBeers before selling it to mining firm Anglo American a decade ago, ranked number three, worth an estimated $8.7 billion.<\/p>\n

The biggest gainer in percentage terms\u2013up 125 per cent was Strive Masiyiwa of Zimbabwe, worth\u00a0$2.7 billion, up from $1.2 billion last year.<\/p>\n

Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune.<\/p>\n

Another gainer: Nigerian cement tycoon Abdulsamad Rabiu, who is $1.5 billion richer after taking yet another of his companies\u2019 public.<\/p>\n

In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange.<\/p>\n

He and his son retained a 96% stake in the company, which recently had a market capitalisation of nearly $2.8 billion. (Forbes\u00a0discounts the values of stakes when the public float is less than 5 per cent).<\/p>\n

BUA Cement, in which he and his son had a 96% stake, listed in January 2020.<\/p>\n

According to the release, only two of the 18 billionaires are worth less than in 2021: Koos Bekker of South Africa, who dropped to $2.7 billion from $2.8 billion as the share prices of consumer Internet firms Naspers and Prosus fell more than 20per cent each.<\/p>\n

Mohammed Dewji of Tanzania, whose fortune declined to an estimated $1.5 billion from $1.6 billion a year ago,\u00a0 due to lower multiples for publicly traded competitors.<\/p>\n

The 18 billionaires from Africa, who were not new to the ranks, also hailed from seven different countries, South Africa and Egypt each had five billionaires, followed by Nigeria with three and Morocco with two.<\/p>\n

All of the continent\u2019s billionaires were men; the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.<\/p>\n

Forbes noted that\u00a0 they list tracked\u00a0 the wealth of African billionaires who resided in Africa or had their primary business there, thus excluding Sudanese-born billionaire, Mo Ibrahim, who is a U.K. citizen.<\/p>\n

The billionaire London resident,\u00a0 Mohamed Al-Fayed, an Egyptian citizen. Strive Masiyiwa, a citizen of Zimbabwe and a London resident, appeared\u00a0 on the list due to his telecom holdings in Africa.<\/p>\n

It added that the Net worth were calculated using stock prices and currency exchange rates from the close of business on Wednesday, Jan.19.<\/p>\n

\u201cTo value privately held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies.<\/p>\n

\u201cSome list members grow richer or poorer within weeks-or days-of our measurement date,\u201d Forbes said.<\/p>\n

Forbes is owned by Integrated Whale Media Investments and the Forbes family and it features original articles on finance, industry, investing, and marketing topics.<\/p>\n

It also reports on related subjects such as technology, communications, science, politics, and law.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes\u2019 Top 10 Africa\u2019s Billionaires List. This latest development is contained in a post on their verified\u00a0Twitter account @Forbes. According to the report, for 11th year in a […]<\/p>\n","protected":false},"author":4,"featured_media":9309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[19],"tags":[2703,1062],"class_list":["post-9306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-aliko-dangote","tag-forbes"],"yoast_head":"\nDangote retains richest man in Africa position as Forbes\u2019 releases new list » BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/01\/25\/dangote-retains-richest-man-in-africa-position-as-forbes-releases-new-list\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote retains richest man in Africa position as Forbes\u2019 releases new list\" \/>\n<meta property=\"og:description\" content=\"Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes\u2019 Top 10 Africa\u2019s Billionaires List. 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