Forbes has compiled its second annual rich list of the 40 wealthiest citizens on the continent of Africa, with 10 newcomers including South African’s Koos Bekker, and Desmond Sacco, who joins the billionaire club for the first time.
Africa’s 40 richest features 12 South Africans, followed by Nigeria, with 11. Egypt has eight on the list, while fellow North African country Morocco has five.
The catchphrase, “the rich get richer” rings true as the 40 on the list boast a combined net worth of $72.9 billion, up 12% over 2011.
According to Forbes, for 32 people on the list, their fortune is self-made, while the average age stands at 63.
Nigeria’s cement king, Aliko Dangote again sits top of the pile with a net worth of $12 billion, up from $10.1 billion in November 2011. Most of his net worth lies in publicly traded Dangote Cement.
South African, Nicky Oppenheimer is second richest with a $6.4 billion fortune, though this is with $100 million less than in 2011, after he sold his family’s 40% stake in diamond producer DeBeers to mining company Anglo American for $5.1 billion.
Forbes’ list tracks African citizens who reside on the continent.
Debutant on the list, Desmond Sacco is listed at 15th with a fortune of $1.4 billion thanks to his shares in mining group Assore.
Just behind Sacco, is Stephen Saad with $975 million, having founded JSE-listed Aspen Pharmacare.
Entrepreneur Cyril Ramaphosa is the next South African on the list, ranked 21st with a net worth of $675 million.
Lauritz (Laurie) Dippenaar is ranked 23rd with a fortune of $625 million, having co-founded Rand Consolidated Investing, which later became Rand Merchant Bank, and then FirstRand group. Dippenaar serves as non-executive chairman of First Rand.
Placed at 35th on the list, Gerrit Thomas Ferreira is another co-founder of Rand Consolidated Investments. Having accumulated a wealth of $480 million, Ferreira now serves as non-executive chairman of RMB Holdings.
Another debutant, Koos Bekker is ranked 36th with a sum of $450 million. Bekker is CEO of media giant Naspers which has investments in China’s instant messaging firm Tencent Holdings and Russia’s Internet group Mail.ru. Strangely, Bekker does not earn a salary, bonus, or benefits. His net worth is held up in the value of his vested options in Naspers.
Listed in position 38 on the list, Jannie Mouton boasts a wealth accumulation of $415 million. He founded financial services company PSG, where he now serves as chairman.
Africa’s richest 40
|Rank||Name||Net worth ($million)||Age|
|2||Nicky Oppenheimer & family||6,500||66|
|4||Johann Rupert & family||4,700||61|
|16||Mohamed Al Fayed||1,300||78|
|18||Lauritz (Laurie) Dippenaar||750||63|
|27||Gerrit Thomas (GT) Ferreira||460||63|
|33||Michiel Le Roux||290||62|