VENTURES AFRICA – The combined fortune of Africa’s 55 billionaires is $143.88 billion. The average net worth of the members of this exclusive club is $2.6 billion, while the median age of the richest people in Africa is 65 years. The oldest billionaires are Kenyan industrialist, Manu Chandaria, and Egyptian property tycoon, Mohammed Al-Fayed, both aged 84. The youngest billionaires are Mohammed Dewji of Tanzania and Igho Sanomi, a Nigerian oil trader. They are both 38 years old. Nigeria, South Africa and Egypt lead the pack with the highest number of billionaires at 20, nine and eight respectively. Algeria, Angola, Zimbabwe and Swaziland only have one billionaire each. In all, there are 10 African countries represented on the list. Three women made it into the rankings. The richest of them is Folorunsho Alakija, a Nigerian fashion designer and oil tycoon worth some $7.3 billion by our estimates. Isabel Dos Santos, an Angolan investor and the daughter of Angolan President, Eduardo Dos Santos, together with Mama Ngina Kenyatta, the widow of Kenya’s first President, also made the cut. Africa’s richest people derived their fortunes pursuing a variety of business endeavours including financial services, mining, construction, energy and retail.
1. Aliko Dangote $20.2 billion
Industry: Manufacturing
Country Of Citizenship: Nigeria
Age: 56, married
Africa’s richest man started building his fortune three decades ago after taking a business loan from his maternal uncle to begin trading in commodities such as flour, sugar, rice and cement. In the early 2000s, he started producing these items himself. His Dangote Group is now the largest manufacturing conglomerate in West Africa and owns sugar refineries, salt processing facilities, a beverage manufacturer and a string of cement plants across Africa. In October 2012, Dangote sold a controlling stake in his flour milling company to Tiger Brands, a South African manufacturer of consumer goods. He pocketed $190 million from the sale. Dangote’s biggest asset is Dangote Cement, a $20-billion (market cap) cement manufacturer with operations in 14 countries and an annual production capacity of 30 million metric tonnes. In June this year, South Africa’s Public Investment Corporation acquired a 1.5-percent stake in the company for $290 million. Dangote is also Africa’s most generous philanthropist. Within the last 12 months, he has given away over $100 million to causes ranging from youth empowerment to flood relief, religious causes and education. His younger brother, Sani Dangote, is Vice Chairman of Dangote Group.
2. Allan Gray $8.5 billion
Industry: Financial services
Country Of Citizenship: South Africa
Age: 75
Marital Status: Married
This media-shy South African moneyman controls two investment companies that collectively manage over $50 billion in assets. After Gray received an MBA from Harvard, he worked for eight years at Fidelity Management and Research in Boston before returning to Cape Town in 1973, when he founded Allan Gray Limited, now the largest privately owned asset manager in South Africa. It is also the most successful with assets under management at approximately $30 billion. According to inside sources at the company, Allan Gray’s global mandate share portfolio has achieved an average annual return of 28 percent since 1974. Keys to success include rigorous research and the consistent application of Allan Gray’s ages-old and time-tested investment approach of buying heavily into companies whose share price is less than their intrinsic value. Gray is also the founder of Orbis, an asset manager in Bermuda, which he founded in 1989. Orbis has over $21 billion under management. Gray’s son, William, is President of Orbis and equally serves as portfolio manager of the Orbis Funds. Gray and his family are the controlling shareholders of Allan Gray Limited and Orbis. In 2007, Gray endowed his Allan Gray Orbis Foundation with $130 million, the single largest charity gift in Southern Africa at the time. The foundation funds scholarships for poor but promising South African high school students.
3. Mike Adenuga $8 billion
Industry: Oil, telecoms
Country Of Citizenship: Nigeria
Age: 60
Marital Status: Married
Nigeria’s second richest man made his first fortune in his mid-twenties by distributing lace fabrics and Coca- Cola, and by handling lucrative government contracts during the regime of former Nigerian military President, Ibrahim Babangida. In the early nineties he founded Conoil Producing, an indigenous oil exploration and production outfit that was the first Nigerian company to strike oil in commercial quantities. Today, Conoil Producing’s assets produce more than 100,000 barrels of crude a day. Adenuga’s other holdings include Globacom, a Nigerian mobile telecommunications network that boasts more than 25 million customers in Nigeria and Republic of Benin. He also owns a 74-percent stake in Conoil PLC, a petroleum marketing outfit listed on the Nigerian Stock Exchange.
4. Folorunsho Alakija $7.3 billion
Industry: Oil
Country Of Citizenship: Nigeria
Age: 62
Marital Status: Married
Africa’s richest woman sits atop Famfa Oil, a Nigerian oil company that owns a 60-percent stake in OML 127, one of Nigeria’s most prolific oil blocks located at Nigerian offshore Agbami deepwater field. Daily production at OML 127 stands at over 200,000 barrels per day. Alakija studied fashion design in England in the eighties, returning to Nigeria to found Supreme Stitches, a Nigerian fashion label which enjoyed patronage from the more successful women in Nigerian high society. One of her clients was Maryam Babangida, the wife to former Nigerian military President, Ibrahim Babangida. Alakija is believed to have ridden on the crest of this relationship to acquire an oil block in 1993 at a relatively inexpensive price. Famfa immediately entered into a joint venture agreement with Star Deep Water Petroleum (a subsidiary of Chevron and Brazil’s Petrobas), ceding a 40-percent stake to the two companies. Famfa owned a 60-percent interest in the block until 2000, when the incumbent Nigerian president, Olusegun Obasanjo, forcefully acquired a 50-percent stake in the block, transferring it to the Nigerian National Petroleum Corporation – a government-owned oil company. Famfa Oil immediately went to court to challenge the acquisition in a case that dragged on for 12 years. In May 2013, the Nigerian Supreme court reinstated the 50-percent stake to Famfa Oil. Alakija also owns $200-million of real estate in the United Kingdom.
5. Nicky Oppenheimer $6.5 billion
Industry: Mining, investments
Country Of Citizenship: South Africa
Age: 68
Marital Status: Married
Diamonds are not forever. In November 2011, Nicky Oppenheimer made the momentous decision to sell off his family’s stake in De Beers, the world’s largest diamond producer, to mining behemoth Anglo American. The landmark $5.1-billion deal ended the Oppenheimer family’s eight-decade control of De Beers, which began when Nicky’s grandfather, Sir Ernest Oppenheimer, took over the firm in 1927 and consolidated the company’s global monopoly over the world’s diamond industry. In 2011, E Oppenheimer & Sons, the family-owned investment firm which Nicky controls, partnered with Temasek, the investment firm of the Government of Singapore, to form Tana Africa Capital, a $300-million private equity fund that invests in the fast moving consumer goods (FMCG) and agriculture sectors.
7. Nassef Sawiris $5.2 billion
Industry: Construction
Country Of Citizenship: Egypt
Age: 53
Marital Status: Married
Nassef Sawiris is the youngest of the three sons of Egyptian billionaire and founder of the Orascom conglomerate, Onsi Sawiris. He heads Orascom Construction Industries (OCI), one of the largest companies in the North Africa region. In January this year, Nassef announced that OCI was exchanging all global depositary receipts of the company for newly issued shares of OCI NV on the NYSE Euronext in Amsterdam or in exchange for cash. A consortium of investors, including Microsoft founder Bill Gates, provided the $1 billion in fresh capital required to pay off investors. The overwhelming majority of the shareholders accepted the buyout offer, which subsequently led to the company’s delisting on the EGX. Nassef also serves as a director at Lafarge, the French cement giant, and the Dubai international Financial Exchange.
8. Gilbert Chagoury & Family $4.2 billion
Industry: Construction
Country Of Citizenship: Nigeria
Age: 67
Marital Status: Married
The Nigerian-Lebanese industrialist and diplomat is a co-founder of the Chagoury Group, a large, multi-faceted Nigerian conglomerate with interests in manufacturing, construction, real estate, hospitality and healthcare. Gilbert was born in 1946 in Lagos by Lebanese immigrant parents. After studying at the College des Freres Chretiens in Lebanon, he returned to Nigeria where he kick-started his business career. In 1971 he started GrandsMoulins du Bénin Flour Mills, a milling company in Cottonou, Republic of Benin, which formed the foundation of the Chagoury Group. Today, the Chagoury Group owns five flour-milling companies in Nigeria and Republic of Benin. Chagoury’s milling operations collectively produce over 3,700 metric tonnes of wheat flour every day. The Chagoury Group also owns a glass bottle manufacturing plant and a plastic bottle manufacturing operation. Other assets include Eko Hotel, a five-star Hotel in Lagos, and Hotel Presidential, a five-star hotel in Port Harcourt. One of the newer companies within the group is South EnergyX, a real estate development company that is developing Eko Atlantic, a new $6-billion metropolis on land reclaimed from the Atlantic Ocean. When completed, Eko Atlantic is expected to provide residential accommodation for up to 250,000 people. Chagoury’s property portfolio also includes Ocean Parade, a series of 14 tower blocks overlooking a lagoon in Banana Island, Nigeria’s priciest residential community. Gilbert Chagoury’s career has not been without controversy. In 2001, in a British court, he admitted to helping the family of deceased Nigerian dictator, Sani Abacha, transfer $300 million into foreign accounts. He returned the money and was indemnified of charges.
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Nathan Kirsh made his first fortune after he founded a successful corn milling business in Swaziland. He deftly reinvested his profits in food distribution and real estate. The bulk of his fortune is held in various property and distribution companies. His investment company, Kirsh Holding Group, owns a 50-percent stake in Swazi Plaza Properties – the company that owns the largest shopping mall in Swaziland. He also owns a 29-percent stake in Minerva, a London-based property developer, and a 63-percent stake in Jetro Holdings, which operates Jetro Cash and Carry stores and Restaurant Depots in the New York City area. Jetro enjoys a near monopoly in supplying wholesale goods to small stores and restaurants in the New York City area and had revenues of over $6 billion in 2013. Kirsh is also the largest individual shareholder in Magal Security Systems, a developer and supplier of control systems and intruder detection systems.
10. Christoffel Wiese $3.4 billion
Industry: Retail
Country Of Citizenship: South Africa
Age: 72
Marital Status: Married
The South African businessman is the chairman and greatest individual shareholder of Shoprite, Africa’s largest discount retailer. After studying Law at the University of Stellenbosch, Wiese took up a job as an executive director at Pep Stores, a discount clothing chain his parents co-founded. In 1979, Pep Stores diversified into groceries through its acquisition of Shoprite, a small South African retail chain. When Wiese became chairman of the company in 1981, he changed the company’s name to Pepkor and made a series of acquisitions including Ackermans, a prominent clothing chain. He went on to list Shoprite on the Johannesburg Stock Exchange. He owns a 15-percent stake in the $7-billion (market cap) company. While his Shoprite stake remains his biggest asset, he also owns significant stakes in other Johannesburg Stock Exchange-listed companies, including Invicta Holdings, PSG Holdings, Tradehold, and private equity firm, Brait. Other assets include a private game reserve in the Kalahari and Lourensford Wine Estate.
The full Rich List is available in the October issue of Ventures Africa.
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Richest African Americans – Forbes Wealthiest Black Americans2012
Published: April 20, 2012
#1. Oprah Winfrey
Net worth: $2.7 billion As of March 2012 Source of Wealth: Television, self-made Education: BA/BS, Tennessee State University
The queen of daytime TV is now the queen of cable. Winfrey’s OWN station launched in the beginning of 2011. In addition to her cable channel, Winfrey in overseeing the last season of her syndicated show, a magazine and Harpo productions. She also started a school for girls in South Africa. Winfrey has 5.2 million followers on Twitter. Her Harpo Productions helped create the likes of Dr. Phil and Rachael Ray. She’s produced Broadway shows and has her own satellite radio channel and recently launched Oprah Winfrey Network(OWN). For all of this, she consistently earns more than $225 million a year.
#2. Sean “Diddy” Combs
Net Worth: $550 million As of April 2012 Source of Wealth: Rapper, record producer, actor, fashion designer and businessman
Diddy’s business ventures, along with his career as a rapper, have made him the richest rapper on the planet,built fortune chiefly through clothing line Sean John, record label Bad Boy and Ciroc vodka. Acting gigs, television shows and guest appearances add to coffers.Diddy was crowned 2011 wealthiest artist in hip-hop, with a fortune of $475 million. The “Hello Good Morning” rapper beat Jay-Z, who has an estimated wealth of $450 million, to claim the top spot in Forbes 2011 – Top 5 Wealthiest Hip Hip Artists .
#3. Robert Johnson
Estimated net worth: $550 million As of May 2009 Source of Wealth: BET, investments
The first African-American billionaire’s fortune dropped when the recession hammered media and hotel markets. With his wife, he founded cable channel Black Entertainment Television (BET) in 1979 with $15,000 of his own money and a $500,000 investment by John Malone’s cable and media giant Tele-Communications Inc. He became the first African-American billionaire in 2000 after selling BET to Viacom for $3 billion in stock and assumed debt. His former wife and BET co-founder, Sheila Johnson, took half of the fortune in 2002 divorce.
#4. Tiger Woods
Net worth: $500 million As of September 2010 Source of Wealth: Golf, endorsements
Woods has earn over $130 million in career prize money and $900 million in revenue from endorsements, appearance fees and golf course design business since 1996. His agents, the tax man and recently divorced wife Elin Nordegren have all gotten pieces of those earnings. But he will make it to 10 figures if he starts winning again and sponsors return.
#4. Michael Jordan
Net worth: $500 million As of September 2010 Source of Wealth: Basketball, Nike, endorsements
Former Chicago Bulls wonder earned $90 million in salary during his playing career. Most of his fortune now derives from endorsement deals with his biggest sponsor, Nike; he raised his stake in the NBA’s Charlotte Bobcats to 80% this year.
#4. Earvin “Magic” Johnson, Jr.
Net worth: $500 million As May 2009 Source of Wealth: Restaurants, real estate, investments
The retired professional basketball after announcing he had contracted HIV, became an entrepreneur. He introduced well-known brands to diverse neighborhoods via Magic Johnson Enterprises. With his several partnerships with companies like Starbucks, 24 Hour Fitness, T.G.I. Fridays, AMC Theatres, invested in urban real estate and companies catering to America’s underserved markets via his Canyon-Johnson and Yucaipa-Johnson funds. He has donated several millions to community-based organizations that focus on HIV/AIDS education and prevention. He now runs Magic Johnson Enterprises, a company that has a net worth of $700 million
#7. Shawn “Jay-Z” Carter
Net Worth: $460 million As of April 2012 Source of Wealth: Rapper, songwriter,entrepreneur, co-owner of the New Jersey Nets
’99 Problems’ rapper and Beyonce’s husband sold Rocawear clothing label for $204 million in 2007; signed 10-year $150 million Live Nation deal in 2008. Now boasts an impressive portfolio, including shares in the New Jersey Nets as well as his input in fashion, music and restaurant businesses.
#8. William Henry “Bill” Cosby, Jr.
Net worth: $450 million+ As of May 2009 Source of Wealth: The Cosby Show, entertainment
The legendary comedian, left high school in 10th grade and finished via correspondence course while in the Navy. He broke a long-standing racial barrier when he was cast as an equal to a white actor on NBC’s “I Spy” in the 1960s, a role that garnered him three Emmy Awards. He went on to launched The Cosby Show on NBC. The iconic series was an immediate success. It has since made him hundreds of millions in pay and syndication dollars. He also had a best-selling book, Fatherhood, in 1986. It sold over 4 million copies. With his wife, Camille, they donated $20 million in 1988 to Spelman College in Atlanta . He was wwarded Presidential Medal of Freedom in 2002 in recognition of his contributions to American culture.
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Net worth: $400 million As May 2009 Source of Wealth: BET, investments
The co-founded Black Entertainment Television and ex-wife of Robert Johnson. The couple met in college at University of Illinois. The founded BET and later sold the network to Viacom for $3 billion in stock and assumed debt. After their divorce in 2002 (33-year marriage), they shared their fortune. Today she is is the team president, managing partner, and governor of the WNBA’s Washington Mystics. Through investment in Lincoln Holdings, she owns stake in NHL’s Washington Capitals, NBA’s Washington Wizards, and WNBA’s Washington Mystics.
#10. Tyler Perry
Net worth: $350 million As of September 2010 Source of Wealth: Actor, author, screenwriter, film director, theater producer, theater director, television director, playwright, film producer, television producer
Perry writes, directs and stars in his work (which has a huge audience with black Americans), owns his two TBS sitcoms (House of Payne and Meet the Browns) and negotiates a cut of his movies’ earnings. He opened his own studio in 2008 and recently purchased a 58-acre estate in the Atlanta area for $7.6 million.Tyler was ranked #17 on Vanity Fair Magazine – 2011 Hollywood’s highest-paid stars.
#10. R. Donahue Peebles
Net worth: $350 million As of May 2009 Source of Wealth: Real estate
Grandson of a hotel doorman. Owns one of the country’s largest African-American real estate development companies; Peebles Corporation’s portfolio includes hotels, apartments and office space in Miami Beach and Washington, D.C. “Don” left Rutgers University in 1979 to become a real estate agent in the District of Columbia. Worked on Capitol Hill as a page and an intern for congressmen John Conyers and Ron Dellums while attending Capitol Page School. Authored two books, The Peebles Principles and The Peebles Path to Real Estate Wealth.
#12. Berry Gordy, Jr.
Net worth: $325 million As May 2009 Source of Wealth: Motown, Jobete
Record producer, and the founder of the Motown record label, Berry Gordy borrowed $800 from his parents to build his own record label. He created Motown Records in Detroit. Went to write hit songs like “Lonely Teardrops,” “I’ll be Satisfied”, and managed talents like Jackson 5, The Supremes, Smokey Robinson, Lionel Richie, Stevie Wonder and more. He is known for running Motown’s record production like an assembly line, emulating Detroit’s Big Three car companies. He sold Motown Records in 1988 for $61 million and later sold Jobete Music Corp. in installments to EMI Music Publishing for more than $300 million combined.
#13. Quintin Primo III
Net worth: $300 million As of May 2009 Source of Wealth: Real estate
He started his career with Citicorp’s real estate lending division. The CEO of Capri Capital Partners has an M.B.A. from the Harvard Business School and B.S. degree in Finance with Honors from Indiana University. He founded Capri Capital in 1992 with his childhood friend Daryl Carter. Since then he has since seen great success in his career, the company has more than $2.7 billion in real-estate assets under management.
#13. Beyoncé Knowles
Net worth: $300 million As of December 2010 2010 Earnings according to Forbes: $87 million Source of Wealth:Singer, songwriter, record producer, actress, model, video director
The wife of hip-hop mogul, Jay-Z, she has expanded her business empire beyond music. Endorsement deals with companies ranging from Nintendo to L’Oreal and her growing House of Dereon fashion line bring in millions of dollars. In 2010, Knowles earned $87 million.
#15. Don King
Net worth: $280 million As May 2009 Source of Wealth: Boxing promotion
Boxing promoter, Don King started boxing business while doing fundraising work in 1972 for a struggling Cleveland hospital. He asked Muhammad Ali to attend a charity event, and later convinced Ali and George Foreman to let him promote their 1974 heavyweight championship bout. King has promoted some of the most prominent names in boxing, including Muhammad Ali, George Foreman, Larry Holmes, Mike Tyson and more. He is remembered for his promotion of the the greatest boxing fights of all time, “The Rumble in the Jungle” and the “Thrilla in Manila.” His biggest success was Mike Tyson. King promoted Tyson and Evander Holyfield’s infamous 1997 bout which grossed $110 million. Tyson sued King a year later for $100 million accusing King of cheating him out of earnings and was settled for $14 million. He can still be seen at fights donning his signature hairstyle while waving an American flag as he supports his fighters.
#16. Andre “Dr. Dre” Young
Net Worth: $260 million – As of April 2012 Earnings according to Forbes: 2011: $14 million, 2010: $17 million Source of Wealth:Record producer, Rapper, Entrepreneur
Superproducer/rapper,Dr. Dre may not have put out a new album in the last 10 years,but the rapper and producer has reaped the rewards from his business. He helped launch careers of Snoop Dogg, Eminem, 50 Cent. Expanded wealth with Aftermath record label, Beats headphones and HP laptop line. On 11th August 2011, Dr Dre reportedly sold 50% stake in Beats Electronics, the headphone company to Taiwanese smartphone maker HTC for £191 million ($310m).
#17. Janice Bryant Howroyd & family
Net worth: $250 million As of May 2009 Source of Wealth: Staffing, investments
Fourth of 11 children; father was a foreman at a dye factory, mother stayed home to raise the kids. Janice took job as an assistant at Billboard Magazine; left to start staffing firm Act-1 in 1978 with $967 in savings and $533 in loans from family. Built up client base via word of mouth, cold calls. Today the employment services agency generates annual revenues approaching $1 billion. Donated $10 million to her alma mater, North Carolina Agricultural & Technical State University, in 2004; gave another $10 million to University of Southern California in 2005.
#18. Herman J. Russell
Net worth: $200 million As of May 2009 Source of Wealth: Construction, real estate
The real estate and construction magnet stared building his business at an early age. His father was a plastering contractor on construction projects. Herman bought a vacant Atlanta lot at age 16 and built his first property, a duplex. He went to create the contractor H.J. Russell Plastering Co. in 1953 and later renamed H.J. Russell & Co. Herman once owned stakes in pro basketball’s Atlanta Hawks and hockey’s Atlanta Flames. He is now retired from day-to-day management and focused on philanthropy.
#18. Ulysses Bridgeman, Jr.
Net worth: $200 million As May 2009 Source of Wealth: Construction, real estate
A Former shooting guard for the Milwaukee Bucks turned his athletic grit into a sprawling fast food empire. Raised in East Chicago, Ind.; father was a steelworker. “Junior” was picked in first round of the 1975 NBA draft by the Los Angeles Lakers; promptly traded to the Bucks with three others for Kareem Abdul-Jabbar. He bought five Wendy’s franchises to generate income while planning his next career. As of 2009, he owns 161 Wendy’s and 118 Chili’s restaurants. He also have a small stake in Milwaukee soda bottler Black Bear Beverages.
-------------------- Note: I am not an "Egyptologist" as claimed by some still bitter, defeated, trolls creating fake profiles and posts elsewhere. Hapless losers, you still fail. My output of hard data debunking racist nonsense has actually INCREASED since you began.. Posts: 5905 | From: The Hammer | Registered: Aug 2008
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posted
Nice post Lioness I like to read about rich people. IM a long time reader of the Forbes 400 and the Forbes world 400 list of rich businessman.
I hope the African billionaires transform their wealth into a banking political power dynasty like the Venetian, London and New York International Banking and Merchant dynasties. It is easier for few wealthy families to control a country for century then elected politician. Those billionaires African families can use their invisible power to create an African economic union like the EU and an African world currency like the Euro.
Aliko Dangote is an impressive self made billionaire. The maxim it is not what you know but who you know apply to Mike Adenuga and Folorunsho Alikija whose fortune come from their relation to the Nigerian President Ibrahim Babangida and his family.
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Arica’s Richest Man To Build $350m Cement Plant In Niger October 18, 2013
VENTURES AFRICA – Africa’s richest man, Aliko Dangote plans to build a $350 million cement plant which will produce 1.5 million tonnes (annually) in the Republic of Niger.
Speaking with journalists after a meeting with Niger Republic President, Issoufou Mahamadou in the country’s capital, Niamey, Dangote said the plant will produce its own electricity with an anticipated surplus to be used to bolster Niger’s currently unreliable power output.
Niger currently has only one cement plant, built in 1964, with a capacity of 40,000 tonnes.
With the proposed investment from Dangote, the country will not only witness a rise in the availability of cement and electricity supply, it will help provide jobs for unemployed Nigereins.
“The realisation of this project will create 6,000 to 7,000 jobs,” the business mogul said.
Dangote’s decision to establish a cement plant in Niger follows a similar investment in Kenya last month. The billionaire “cement king” announced plans to invest $400 million in a cement plant in the East African nation during Nigeria’s president, Goodluck Jonathan’s visit to the country.
Africa’s biggest cement producer, Dangote Cement announced in May this year that it would be investing $5 billion to expand its African production capacity to 55 million tons by 2016.
Other countries under consideration for investment include Cameroon, Ethiopia, Senegal, South Africa, Tanzania and Zambia.
VIDEO
MTV Base Meets Africa's Richest Man: Aliko Dangote
posted
Lioness, this is a dumb post. For Africa a bunch of white Euro guys and assorted thieves while people suffer in poverty. The only legit one there is Dangote. The rest are thieves and pilferers.
On the U.S., same old same old: singing, dancing, clowning, and flaunting those African genes on the sports field has always been the way to go. Now they are getting some big money for entertaining whitey. Yawn! What else is new?
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comarade lamin, this is a good thread, it's information you can judge it how you want.
In the Africa list are also a couple of oil indistry billionaires from Nigeraia but as you would probably say the were under the wing of Babangida's abuses. The article said 55 billionaires, but didn't pot them all just the top 10. On the American list of 15 and also looking at the bottom unpictured there are a few Real Estate mogals.
I'm not saying anything is good just giving some facts. power to the people
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Aliko Dangote I never thought you could become a multi billionaire in the cement business. If I was a businessman I would have try to buy and sell African gold and diamond. Aliko Dangote cement business is a smart business because in the 1990 Africa had a underdeveloped infrastructure but Now in the 21st century there is a building and infrastructure boom in Africa. The cement business is a good business for Africa. You cant go wrong with food business like rice, flour and sugar because people have to eat.
Nice Youtube interview with Billionaire Aliko Dangote. A Dangote look like a serene, smart and hard working businessman. He look like an Haoussa Egyptian Pharaoh. He gave good advice in the interview.
1)Your job should be your hobby 2) You should take smart risk 3)Your name is very important so be honest 4)You have to work hard 5)You can lose your wealth
Stock market money is not real money. Being on the list of richest billionaire doesn't mean the billionaire have $100 million in cash, gold or diamond in the bank. Their money is in the number of stock they own. If the stock price drop they will lose their wealth. There is the famous case of the Brazilian mine and oil billionaire Eike Batista who was worth $30 billion in 2012 and now in 2013 is worth $200 million.
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