Richer and richer: Africa's billionaires see rise in fortunes, worth a whopping $75.4 billion

Richer and richer: Africa's billionaires see rise in fortunes, worth a whopping $75.4 billion

- Africa's billionaires have increased their collective net worth

- They are now worth $75.4 billion, up from $70 billion in January 2017

- 8 South Africans feature in the 23-person list

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The collective net worth of Africa's billionaires has increased to $75.4 billion in 2018, up from $70 billion in January 2017.

The number of billionaires in the continent has also increased from 21 last year to 23 this year, Briefly.co.za established.

According to Forbes magazine, these increases were occasioned by rising stock markets and commodity prices.

Aliko Dangote, from Nigeria, is the richest African for the seventh year running, with a net worth of $12.2 billion. Source: Google

Aliko Dangote, from Nigeria, is the richest African for the seventh year running, with a net worth of $12.2 billion. Source: Google

Nigerian cement and commodities tycoon, Aliko Dangote, remains the richest African for the seventh year in a row. He has a net worth of $12.2 billion, up $100 million from last year.

South African diamond mining magnate, Nicky Oppenheimer, is second with a net worth of $7.7 billion, up $700 million from 2017.

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Patrice Motsepe, with a net worth of $2.4 billion, is 11th on the list. Source: Google

Patrice Motsepe, with a net worth of $2.4 billion, is 11th on the list. Source: Google

A total of eight South Africans feature on the list. In addition to Oppenheimer, Johann Rupert ($7.2b), Koos Bekker ($2.8b), and Patrice Motsepe ($2.4b) also feature.

Michiel Le Roux ($1.2b), Stephen Saad ($1.2b), Desmond Sacco ($1.1b), and Christoffel Wiese ($1.1b) complete the list of South Africans among Africa's billionaires.

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Isabel dos Santos, from Angola, is just one of the two women in the list. She's worth $2.7b. Source: Google

Isabel dos Santos, from Angola, is just one of the two women in the list. She's worth $2.7b. Source: Google

Just two women appear in the 23-person list. One of them is Isabel dos Santos, daughter of former Angolan President Jose Eduardo dos Santos. She is worth an estimated $2.7 billion.

The other woman is Nigeria's oil explorer Folorunsho Alakija, who is worth $1.6 billion.

Interestingly, Nigeria got its first billionaire this year. Telecom magnate, Strive Masiyiwa, has a net worth of $1.7 billion. However, he lives in London.

To see the full list, click here.

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Source: Briefly.co.za

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