IN general 2018 was not a good year for Africa’s billionaires in general as most saw their wealth shrink due to a widespread falls in stock markets.
In fact while there were 23 billionaires in the whole of Africa last year there are only 20 left at this moment.
Of these 20 all except four saw a decline in their fortunes. The billionaire with the biggest increase in net worth was Mr Masiyiwa.
Call him a bond note billionaire or what” but Masiyiwa is surely enjoying all the fun under the Sun.
Last year his fortune was estimated to be $1.6 billion now he is said to be worth $2.3 billion. In a space of 12 months he added $700 million to his net worth: not bad at all for a year’s work.
Among the few on the list who are richer than a year ago is Strive Masiyiwa of Zimbabwe, worth an estimated $2.3 billion, up from $1.6 billion last year. He’s richer due to a rise in the share price of Econet Wireless Zimbabwe and a new investment that boosted the value of his stake in fiber-optic and satellite-services firm Liquid Telecom.
Forbes goes on to explain their methodology on exchange rates:
We calculated net worths using stock prices and currency exchange rates from the close of business on Friday, January 4, 2019.
2019 Africa’s top ten richest
- For the eighth year Aliko Dangote is Africa’s richest man with an estimated fortune of $10.3 billion
- Mike Adenuga another Nigerian with a net worth of $9.3 billion
- Nicky Oppenheimer of De Beers with $7.3 billion
- Nassef Sawiris with $6.3 billion
- Johann Rupert $5.3 billion
- Issad Rebrab $3.7 billion
- Naguib Sawiris $2.9 billion
- Strive Masiyiwa $2.3 billion
To keep Mr Masiyiwa company we have Isabel Dos Santos (who made her fortune in looting), Patrice Motsepe the mineral guy, Mohamed Mansour (who is into all sorts of things) and Koos Bekker. That makes them ten ? .