Nigerian cement tycoon Aliko Dangote is still the richest black person in the world, with a fortune estimated at $15.7 billion. He is followed by Saudi-Ethiopian construction magnate Mohammed Al-Amoudi, who is worth $10.8 billion.
This year, two new moguls join the ranks of the richest black people on earth. They are American basketball legend Michael Jordan and Nigerian energy magnateFemi Otedola. Angolan investor Isabel dos Santos, American media mogulOprah Winfrey and Nigerian oil woman Folorunsho Alakija are still the only black female billionaires on the FORBES billionaires list.
Meet the 11 richest black people on earth:
Aliko Dangote, $15.7 billion
Nigerian, Sugar, Cement, Flour
Dangote has lost close to $10 billion since March last year on account of falling stock prices of his four publicly-listed companies and a recent devaluation of the Naira. But he still remains the world’s richest black person. Dangote, 57, initially made his fortune trading in cement, sugar and flour but subsequently ventured into manufacturing these commodities. His crown jewel, Dangote Cement, is the largest manufacturer of cement in Africa and has a market capitalization of $15 billion. Dangote is also building an oil refinery that will be completed in 2016. It is expected to have a refining capacity of 400,000 barrels a day and reduce Nigeria’s dependence on oil imports.
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| Aliko Dangote |
Saudi Arabian, Oil
Son of a Saudi father and Ethiopian mother, Al-Amoudi made his first fortune in construction in Saudi Arabia. In Ethiopia he has invested in sectors including agriculture, cement production and gold mining. He also owns a significant stake in the National Oil Company of Ethiopia. Outside Ethiopia, he owns oil refineries in Morocco and Sweden and oil fields off West Africa.
Mike Adenuga, $4 billion
Nigerian, Oil
Adenuga made his first fortune trading lace and Coca-Cola after returning from his studies in the United States. He made key friendships with top Nigerian military personnel and earned lucrative state contracts along the way. He reinvested in oil production and mobile telecoms. His Conoil Producing is one of Nigeria’s largest indigenous oil exploration companies, while his mobile telecoms outfit, Globacom, is the country’s second largest operator after South African giant MTN.
Isabel Dos Santos, $3.3 billion
Angolan, Investments
The world’s richest black woman is also the oldest daughter of Angola’s president, Jose Eduardo dos Santos. She has leveraged on her connections to power to accumulate an impressive portfolio of stakes in blue-chip Angolan companies. Her assets include – a 25% stake in Unitel, the country’s largest mobile phone network, and a stake in a bank, Banco BIC. In Portugal she also owns nearly 7% of oil and gas firm Galp Energia (alongside Portuguese billionaire Americo Amorim), among other assets.
Oprah Winfrey, $2.9 billion
American, Television
Oprah, once the queen of daytime TV, is still the richest African-American person in the world. Her once struggling cable channel ,OWN (Oprah Winfrey Network) is now cash flow positive and is enjoying soaring ratings on the back of a series of successful sitcom and dram collaborations with director Tyler Perry.
Patrice Motsepe, $2.1 billion
South African, Mining
South Africa’s first black billionaire, Patrice Motsepe founded and chairs African Rainbow Minerals, a publicly traded firm that mines and processes iron, manganese, chrome, platinum, copper, nickel, coal and gold. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club.
Folorunsho Alakija, $1.9 billion
Nigerian, Oil
Nigeria’s only female billionaire is the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil block on the Agbami deep water oilfield in Nigeria. Alakija started off as a secretary in a Nigerian merchant bank in the 1970s, then quit her job to study fashion design in England. Upon her return, she founded a Nigerian fashion label that catered to upscale clientele, including Maryam Babangida, wife to Nigeria’s former military president Ibrahim Babangida.
Mohammed Ibrahim, $1.1 billion
British, Mobile Telecoms, Investments
Sudanese-born Mo Ibrahim is the founder of Celtel, an African mobile phone company, which he sold to MTC of Kuwait for $3.4 billion in 2005. He is the founder of the Mo Ibrahim Foundation which promotes good governance in Africa and awards the annual Mo Ibrahim Prize for Achievement in African Leadership – a lifetime award of $5 million given over 10 years to retired African heads of state who have left their countries materially better off and more transparent. Outgoing Namibian President Hifikepunye Pohamba was recently announced as the 2015 recipient of the coveted prize.
Michael Jordan, $1 billion
American, Basketball
Basketball’s greatest player is the majority shareholder of Charlotte Bobcats and enjoys lucrative deals with the likes of Gatorade, Hanes and Upper Deck. His biggest pile comes from Brand Jordan, a $1 billion (sales) sportswear partnership with Nike.
Femi Otedola, $1 billion
Nigerian, Gas stations
Otedola, 50, is the controlling shareholder of Forte Oil, one of West Africa’s largest downstream oil companies. The $1 billion (Market capitalization) company owns gas stations and fuel storage depots and manufactures its own line of engine oils. Forte also has interests in power generation.
Abdulsamad Rabiu, $1billion
Nigerian, Cement, Sugar
Rabiu is the founder of BUA Group, a Nigerian conglomerate with interests in sugar refining, cement production, real estate, steel, port concessions, manufacturing, oil gas and shipping. BUA Group’s annual revenues are estimated at over $2 billion. Abdulsamad got his start in business working for his father, Isyaku Rabiu, a successful businessman from Nigeria’s Northern region. He struck out on his own in 1988, importing rice, sugar, edible oils as well as steel and iron rods.
Forbes
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