Riches and royalty go hand in hand. It is a rare phenomenon to find a poor ruler. In the 21st century, rich African kings earn their wealth from government taxes, community donations, businesses, inheritance, and other ventures. Their net worth is estimated based on the assets held after accounting for debt. Here is a look at the top 10 richest kings in Africa 2021.
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In contemporary Africa, most traditional rulers are governed by written national laws and constitutions. eSwatini remains the only absolute monarch on the continent. All the royal heads have to ensure the economic development of the ruled, even as they amass personal wealth.
Top 10 richest African kings
Who is the richest king in Africa? Africa has many kingdoms, and most of them are in West Africa. Who is the wealthiest traditional ruler in the continent in 2021? Here is a carefully curated list that will help you determine the richest king in Africa ever.
10. Togbe Afede XIV of Asogli State Ghana - $30 million
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The Agbogbomefia was born on 23rd April 1957 as James Akpo and was coroneted in October 2003. He holds a Business Administration degree from the University of Ghana and an MBA from Yale School of Management. Togbe is a great investor and holds the following titles.
- Current executive chairman of the World Trade Centre Accra
- A board member of several companies
- He established SAS Finance Group Ltd, which consists of SAS Investment Management Ltd and Strategic African Securities Ltd.
- He established a private equity investment company called Strategic Initiatives Ltd (SIL).
- Co-founder of Africa World Airlines Ltd, Sunon Asogli Power Ghana Ltd, and Databank Financial Services
- The majority shareholder in Accra Hearts of Oak FC
9. Oba Rilwan Akiolu of Lagos Nigeria - $40 million
Oba Rilwan Akiolu was born on 29th October 1943 and was crowned the 21st Oba of Lagos in May 2003. He is a law graduate from the University of Lagos. He served in the Nigerian Police Force for 32 years, where he ascended to the position of Assistant Inspector General.
Oba Rilwan Akiolu's net worth is approximately $40 million.
8. Obi Nnaemeka Alfred Ugochukwu Achebe of Onitsha Nigeria - $50 million
Nnaemka Alfred was born on 14th May 1941 and emerged as the 21st Obi of Onitsha in May 2002. He is one of the most prominent kings in Eastern Nigeria. Nnaemeka is currently the Chancellor of Ahmadu Bello University and the chairman of the board of directors of Unilever Nigeria.
He worked in the USA before relocating to Nigeria in 1972. In 1972, he started working with Shell Petroleum Company and currently is a trustee of the National Traditional Rulers Council. Between 1985 and 1987, he was director of several Shell companies in the Netherlands, UK, Sierra Leone, Angola, Liberia, the Gambia, Ghana and Nigeria.
Nnaemka Alfred's net worth is estimated to be $50 million.
7. Oba Ewuare II Ogidigan - $60 million
Oba Ewuare II Ogidigan is the 40th Emperor of the Benin Empire. He got into power in October 2016 and is among the richest kings in Nigeria. Before he ascended into power, he served several ambassadorial roles and had business ventures.
Oba Ewuare II Ogidigan's net worth is approximately $60 million.
6. Oba Adeyeye Ogunwusi Enitan - $70 million
Oba Adeyeye Ogunwusi Enitan is the 51st monarch of the Yoruba kingdom. He got into power in 2015 after succeeding Oba Okunade Sijuwade. Oba Adeyeye is also one of the richest kings in Nigeria.
Oba Adeyeye Ogunwusi Enitan is an Associate Accounting Technician and a member of the Institute of Chartered Accountants of Nigeria. He is also a member of the Global Real Estate Institute and a certified member of the Institute of Directors. Oba Adeyeye Ogunwusi Enitan's net worth is approximately $70 million.
5. Lamido Sanusi Lamido - $80 million
Muhammadu Sanusi II, also known as Khalifa Sanusi II, is the spiritual leader of the Tijanniyah Sufi in Nigeria. He was the emir of the ancient Kano state. Lamido Sanusi Lamido was born into the royal family and succeeded his uncle.
Sanusi, a banker and economist, served as the Central Bank of Nigeria Governor between 2009 and 2014. During his tenure, he brought the $20 billion oil scandal. Lamido Sanusi Lamido is approximately $80 million.
4. King Mswati III of Swaziland - $100 million
The King of eSwatini was born on 19th April 1968 in Manzini as Makhosetive. He took the crown on 25th April 1986 at 18 years old, thus becoming the world’s youngest monarch to rule at the time. He is also the last absolute monarch in Africa.
Despite his position as ruler of eSwatini, King Mswati III has been criticized for leading a lavish lifestyle while the people of Swaziland starve. In 2014, parliament allocated $61 million to the king's household, while most citizens lived below $1.25.
Apart from being the ruler of eSwatini, King Mswati III is in charge of Tibiyo TakaNgwane, an investment company whose assets are valued at $140 million. His worth is approximately $100 million.
3. Sultan Sa’adu Abubakar III of Sokoto - $100 million
Muhammadu Sa'ad Abubakar is the 20th Sultan of Sokoto. He is also a spiritual leader of Nigerian's Muslims, who account for more than 50% of the country's population. He became Sultan in November 2006.
Before he got into power as the Sultan of Sokoto, he served in the military. He was commissioned as a Second Lieutenant in 1977. In the late 1980s, he headed the Armoured Corps that guarded General Babangida.
Sultan Sa’adu Abubakar III is the second richest king in Nigeria. He has a net worth of $100 million.
2. Oba Fredrick Obateru Akinruntan of Ugbo Land Nigeria - $300 million
Oba Fredrick Obateru Akinruntan is a Nigerian monarch and the traditional rule of the Ugbo Kingdom. The Ugbo Kingdom is situated in the Ilaje Local Government of the Ondo State of southwest Nigeria. He got into power in 2009.
Oba Fredrick Obateru Akinruntan is the founder of Obat Oil, one of Nigeria's largest privately-held oil companies. He also owns an extensive portfolio of residential and prime commercial real estate property in Nigeria and London.
Who is the second richest king in Africa? Oba Fredrick Obateru Akinruntan has an estimated net worth of $300 million. As a result, he is the second richest king in Africa.
1. King Mohammed VI of Morocco - $2.1 billion
King Mohammed VI is the richest king in Africa and one of the billionaires in the world. He hails from the Alaouite dynasty. He got into power in July 1999 after his father's death. As Morocco's leading banker and businessman, he is the richest king in Africa ever.
King Mohammed VI's worth is estimated to be $2.1 billion. The Moroccan Royal Family is famous for having one of the largest fortunes in the world. They hold majority stakes in the Société Nationale d'Investissement (SNI), which was initially state-owned.
King Mohammed VI is also among the leading agricultural producers and landowners in the country. Agriculture is one of his most significant sources of income since it is untaxed.
Africa is a wealthy continent, as seen from the net worth of the richest kings in Africa. However, the problem is that most of those under their rule remain poor. Is the situation likely to change?
Power and greatness have most often been associated with men. However, history tells a different story as Africa had powerful queens who were revered warriors and rulers. They ruled with wisdom and bravery.
Briefly.co.za highlighted the top 10 most powerful women who ruled in ancient prominent African kingdoms. They include Aminatu of Hausa, Yaa Asantewaa of Ashanti, Queen Makeda of Sheba, Empress Kandake of Ethiopia, Ranavalona 1 of Madagascar, and others.