Africa is undergoing an explosion of wealth as countries open up to the global economy. Many have seen major economic expansions in recent years.
And that’s benefiting a small number of already incredibly wealthy individuals — Africa’s growing contingent of billionaires.
We looked at Forbes’ African rich list from 2011 and compared it to the 2015 list of African billionaires. We stripped out those who hadn’t become billionaires in the intervening four years as well as those whose wealth has declined.
Some of those included will have seen massive increases in the value of things they already own — particularly those that own significant shares in major listed companies. Some will have had their wealth re-evaluated and increased considerably by Forbes.
Take a look at how the richest of the rich in Africa have seen their wealth surge since 2011.
13. Nicky Oppenheimer, South Africa — $6.6 billion (+$100 million) — As chairman of De Beers, Oppenheimer’s wealth comes from the diamond industry, and has sneaked up by 1.5% since 2011.
12. Naguib Sawiris, Egypt — $3 billion (+$100 million) — Naguib is one of three Sawiris family billionaires, and has seen the smallest increase in his wealth since 2011, compared to his brothers.
11. Samih Sawiris, Egypt — $1.05 billion (+$490 million) — though he’s only just in the billionaire category, the middle Sawiris brother’s net figure rose by 87.5% over four years.
10. Abdulsamad Rabiu, Nigeria — $1 billion (+$600 million) — late in 2013 Rabiu was profiled as Africa’s newest billionaire by Forbes, having made his money in the cement business. His wealth rose by 150% between 2011 and 2015.
9. Mohamed Al-Fayed, Egypt — $2 billion (+$700 million) — The former Harrods owner saw his wealth rise by 53% in the same four years.
8. Yassin Mansour, Egypt — $2.3 billion (+$750 million) — the Mansour Group, which owns several large Egyptian companies, helped propel Yassin Mansour’s wealth upwards by 48% since 2011.
7. Stephen Saad, South Africa — $1.62 billion, (+$980 million) — the pharmaceuticals mogul has also broken into the billionaire club, and his wealth has swelled by 153%.
7. Nassef Sawiris — $5.9 billion (+$1.15 billion) — The richest of the Sawiris billionaires, Nassef’s 24.2% climb in wealth makes him the richest man in his home country.
5. Youssef Mansour, Egypt — $2.9 billion (+$1.35 billion) — Youssef places between his two brothers in terms of his rise in wealth since 2011, with an 87.1% increase.
4. Mohamed Mansour, Egypt — $4 billion (+$2.3 billion) — Mansour’s wealth, as recorded by Forbes, has risen 135% in four years, the second-largest percentage rise on the list.
3. Johann Rupert, South Africa, $7 billion (+$2.3 billion) — South Africa’s richest man and chairman of Richemont saw his net wealth climb by 48.9% over the period.
2. Christoffel Wiese, South Africa — $7.3 billion (+$4.6 billion) — Wiese is an African retail colossus, owns holding company Pepkor and has seen his recorded wealth rise by 170.4% since 2011.
1. Aliko Dangote — Nigeria: $18.7 billion (+$8.6 billion) — Commodities mogul Dangote’s reported wealth has surged in the last four years, rising by 85.1%, despite the slump in commodity prices.
Credit: Business Insider
