Earlier this week, Forbes released their annual Africa rich list, and while the number of billionaires in Africa–and the size of their fortunes–continues to drop, we can all agree that they’re still super rich.
Us, when Forbes reports that billionaires are losing money:
On this year’s list, Mike Adenuga, owner of Nigerian telecoms provider, Globacom, is Africa’s richest person in technology with an estimated worth of $5.8 billion dollars. His telecoms company, Globacom is the second largest operator in Nigeria with 36 million subscribers, the company also extends into Ghana and the Republic of Benin. In second place is Naguib Sawiris from Egypt with $3.7 Billion, and third is Isabel do Santos from Angola worth $3.2 Billion.
Mr. Adenuga is also 3rd on the overall African rich list and is still Nigeria’s second richest man thanks to his telecoms and oil production companies. His oil company, Conoil, runs 6 different oil blocks. He made his first fortune trading lace and Coca-Cola.
Aliko Dangote, Nigerian cement businessman, remains Africa’s richest person for the sixth year running with a $12.1 billion, despite a drop of nearly $5 billion in his net worth for the second year in a row.
Two Nigerians dropped off the billionaires list this year: oil marketer, Femi Otedola, whose net worth dropped from $1.6 billion in November 2015 to $330 million today, and sugar billionaire Abdulsamad Rabiu, whose net worth dropped below $1 billion because of the Nigerian forex crisis.
Wow. Just wow.