Get to know an Egyptian, a Moroccan, and an Algerian who owns about $16 billion!
Africa's billionaires are richer than they have been in years and the total wealth of the continent's 18 billionaires is estimated at $84.9 billion, an increase of 15% over the past 12 months.
This is the largest increase since 2014, when there were 28 billionaires, with a total wealth of $96.5 billion at the time.
On average, each of the continent's richest people is worth $4.7 billion now, compared to $3.4 billion in 2014. Soaring stock prices from Nigeria to Zimbabwe have raised the fortunes of these billionaires, with demand for products from cement to luxury goods soaring.
Forbes' list of the richest people in Africa for 2022 includes Arab billionaires from Egypt, Morocco and Algeria, and the list monitors the wealth of African billionaires residing in the brown continent or their main businesses are located there, so the Egyptian billionaire residing in London, Mohamed Al-Fayed, was excluded.
Egypt:
The investor and descendant of the richest family in Egypt, Nassef Sawiris, ranks fourth on the list, with an estimated net worth of $8.6 billion as of January 23, 2022.
His fortune on the Forbes momentary list of world billionaires is about $8.2 billion on January 25, 2022, and his billionaire brother Naguib Sawiris is ranked eighth, with a net worth of $3.4 billion.
Algeria:
Billionaire Issad Rebrab and his family are ranked second on the 2021 Forbes list of the richest Arabs with a net worth of $5.1 billion.
He is the only Algerian on the list.
Issad Rebrab is the founder and CEO of Cevital, the largest private company in Algeria.
Morocco, West, sunset:
The list includes only two billionaires from Morocco, Aziz Akhannouch and his family, with a net worth estimated at $2.2 billion, and Othman Benjelloun and his family, with a net worth estimated at $1.5 billion, according to Forbes estimates.
Akhannouch, who holds a majority stake in the multi-billion dollar Akwa Group, was appointed prime minister of Morocco in September 2021, while Benjelloun is CEO of BMCE Bank of Africa.
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