Four Africans fell off Forbes’ 2020 list. Per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two. Forbes found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe.

Isabel dos Santos, worth $2.3-billion and Folorunsho Alakija who is worth $1.1-billion are the only women on the top 20 wealthiest in Africa.

Here we look at the first 10 richest people in Africa:

1- Aliko Dangote – Net Worth: $10.3 Billion

Source of Wealth: Cement, Sugar, Flour

For the eighth year consecutively, Nigeria’s Aliko Dangote is the richest person in Africa. His net worth is estimated at $10.3 billion. Dangote made his fortune through commodities; sugar, flour and cement through the Dangote Group.

Last year the Nigerian businessman’s wealth dropped by $2 billion. Due to a roughly 20% drop in the stock price of Dangote Cement.

2- Mike Adenuga – Net Worth: $9.2 Billion

Source of Wealth: Telecom, Oil

Africa’s second richest man, Mike Adenuga built his fortune through Nigeria’s third largest mobile phone operator, Globacom and oil production company, Conoil Producing. The billionaire started his career distributing soft drinks and selling lace.

3- Nicky Oppenheimer – Net Worth: $7.3 Billion

Source of Wealth: Diamond

South Africa’s richest man, Nicky Oppenheimer inherited his family’s fortune. In 2012, he sold his share in the diamond firm DeBeers for $5.1 billion. His net worth is estimated at $7.3 billion, down from $7.7 billion a year ago.

Nicky Oppenheimer founded South Africa’s aviation company, Fireblade Aviation which operates chartered flights. He also owns over 720 square miles of conservation land across South Africa, Botswana and Zimbabwe.

4- Nassef Sawiris – Net Worth: $6.3 Billion

Source of Wealth: Construction, Chemicals

Richest man in Egypt, Nassef Sawiris is also from Egypt’s wealthiest family. He made his wealth through construction industries and one of the world’s largest nitrogen fertilizer producers. He has investments in cement giant Lafarge Holcim and Adidas. Sawiris has a net worth of $6.3 billion.

5- Johann Rupert – Net Worth: $5.3 Billion

Source of Wealth: Luxury goods

Chairman of Swiss luxury goods firm Compagnie Financiere Richemont. Johann Rupert has a net worth of $5.3 billion. The luxury company is best known for brands like Cartier and Montblanc. Other investments includes Remgro and Reinet, an investment firm in Luxembourg.

6- Issad Rebrab – Net Worth: $3.7 Billion

Source of Wealth: Food

The boss of Algeria’s biggest privately owned company, Cevital. Issad Rebrab made his fortune through sugar , home appliances, steel and mineral water. His company, Cevital owns one of the world’s largest sugar refineries. The richest man in Algeria has an estimated net worth of $3.7 billion.

7- Naguib Sawiris – Net Worth: $2.9 Billion

Source of Wealth: Telecom

Also from Egypt’s wealthiest family, Naguib Sawiris is the brother of Nassef Sawiris; Africa’s fourth richest person. He made his fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom company VimpelCom.

8- Strive Masiyiwa – Net Worth: $2.7 Billion

Source of Wealth: Telecom

In 1998, telecom tycoon, Strive Masiyiwa created mobile phone network Econet Wireless Zimbabwe. He now owns just over 50% of the company which is part of Econet Group. He has a net worth of $2.7 billion making him the richest man in Zimbabwe.

9= Patrice Motsepe – Net Worth: $2.5 Billion

Source of Wealth: Mining

In 2008, Patrice Motsepe became the first black African to featured on Forbes billionaire list. He is the founder and chairman of African Rainbow Minerals, a mining company which is part of his investment company African Rainbow Capital. He also has shares in financial service Sanlam and owns the Mamelodi Sundowns Football Club.

9= Koos Bekker – Net Worth: $2.5 Billion

Source of Wealth: Media, Investments

South African media mogul, Koos Bekker made his wealth through Naspers, a newspaper publisher; the company also invested in Chinese Internet company Tencent in 2001 which became the most profitable of all his investments.

10= Isabel dos Santos – Net Worth: $2.3 Billion

Source of Wealth: Investments

Isabel dos Santos is richest woman in Africa and the daughter of former President of Angola, Jose Eduardo dos Santos. She made her fortune through Angola’s state oil company Sonangol, telecom and cable TV firm Nos SGPS. She has an estimated net worth of $2.3 billion.

10= Mohamed Mansour – Net Worth: $2.3 Billion

Source of Wealth: Diversified

Mohamed Mansour heads the family conglomerate Mansour Group, founded by his father Loutfy in 1952; the company has over 60,000 employees. The company’s dealership is one of General Motor’s biggest distributors. The former Egyptian Minister of Transportation also has investment in Caterpillar equipment. His brothers Yasseen and Youssef Mansour are also billionaires.

Source: Forbes Magazine

Apart from the Oil sector, the Nigerian music and entertainment industry is one of the best things that has happened in Nigeria. Making it the most viable sector of the country’s economy.

We look at the top five richest Nigerian Singers/Artists as of 2019:

5. 2Baba – Net worth: $16.3 million

Legendary Innocent Ujah Idibia, popularly known as 2Baba or 2face. Estimated by Forbes to own assets worth to over $16.3 million (₦5.9Billion). With over 20 active years in the industry, it is no surprise that he makes the list.

4. D’Banj – Net worth: $16.6 million

While at the moment D’Banj’s music is not his best selling product; his business and branding acumen are as strong as ever. Endorser of top brands, besides his brainchild CREAM Platform grossed over US$100 million. Banj’s net worth is currently estimated by Forbes to be around $16.6 million (₦6 Billion).

D’Banj receives ₦6 million per show. It could even get higher than that, depending on several other factors.

3. Don Jazzy – Net Worth: $20.8 million

Music mogul and brain behind Mavin Records, Don Jazzy, is also one of the richest musicians in Africa with an estimated net worth of $20.8 million(₦7.5 Billion). He rose to the Music industry after he collaborated with D’banj to start up one of the biggest record labels (Mo’Hits) in the early 2000s.

Don Jazzy and Mavin Records have several sponsorship deals with top companies and brands from around the world.

2. Wizkid – Net worth: $22 million

Ayodeji Ibrahim Balogun, best known by his stage name Wizkid, is the second richest musician in Nigeria with an estimated net worth of ₦8 Billion ($22 million) thanks to his hit songs.

The hit single ‘Holla at your boy’ helped him gain stardom in 2010. Wizkid has a lot of lucrative endorsement deals, with top brands all over the world, including, Glo and Pepsi where he earns $350,000 monthly. The hitmaker now owns the record Label Star Boy Records.

1. Davido – Net worth: $25 million

Youngest on the list is David Adedeji Adeleke, best known by his stage name Davido, is the richest Nigerian musicians as of 2019, with a staggering net worth of ₦9 Billion ($25 million). The hitmaker is also the most followed Nigerian celebrity on all the major social media platforms with an amassed YouTube views.

His hard-work in the industry has also earned him some of the best  endorsements deals with top brands like Campari, Guinness, Glo, and others. He owns several properties and is currently the CEO and owner of Hypertext records.

Source: DailyAdvent