African billionaires rise to 18 on Forbes list

Africa has 18 people on the Forbes billionaire list for 2018. On its 2018 list is a total of 2, 208 billionaires from 72 countries and territories with a total net worth of $9.1 trillion, up 18% since last year. Their average net worth is a record $4.1bn. There are 259 newcomers, including the first cryptocurrency billionaires.
Out of the 18 billionaires, Egypt led the pack with six billionaires, the five South Africans who made the list this year are: Nicky Oppenheimer ($7.7bn), Johann Rupert ($7bn), Koos Bekker ($2.6bn), Patrice Motsepe ($2.4bn) and Stephen Saad ($1.2bn).
South African billionaire Christo Wiese fell off the billionaires’ list. His net worth was $5.6bn last year, when he was South Africa’s third-wealthiest person. This year, his net worth dropped to $600 million following the collapse of retailer Steinhoff’s share price in December.
Prior to the revelations about the so-called accounting irregularities at the company, Wiese had a 21% stake in Steinhoff International. By last month, he had cut that position to 6%.
Nigeria has three and these include Aliko Dangote ($14.1bn), Mike Adenuga ($5.3bn) and Folorunsho Alakija ($1.5 bn). Alakija is one of the world’s richest black women. Angola’s Isabel dos Santos, the daughter of the country’s former president, appears on the list with wealth of $2.6bn.
Also on the list from Africa are Swaziland’s retail and property businessman Nathan Kirsh ($4.3bn), Tanzania’s Mohammed Dewji ($1.5bn) and Zimbabwean telecommunications mogul Strive Masiyiwa ($1.4bn).
Americans lead the way with 585 billionaires, followed by mainland China with 373.
Centi-billionaire Jeff Bezos secures the list’s top spot for the first time, becoming the only person to appear in Forbes’ ranks with a 12-figure fortune.
His fortune increased by more than $39bn, the list’s biggest one-year gain ever. He moves ahead of Bill Gates, who is now number two. It is the biggest gap between first and second place since 2001.

MIKE OCHONMA