This year, two black moguls fall off the ranks of the richest black people on earth, and they are both Nigerian – oil tycoon Femi Otedola and cement mogul Abdulsamad Rabiu. While Otedola fell off the list as a result of the plunging share price of his oil company, Forte Oil, a devaluation of the Nigerian currency, the Naira, was responsible for Rabiu’s ousting. Angolan investor Isabel dos Santos, American media mogul Oprah Winfrey and Nigerian oil woman Folorunsho Alakija are still the only black female billionaires on the FORBES billionaires list.
These are the top 10 billionaires in the world!
1). ALIKO DANGOTE: $12.2 BILLION
Nigerian, Sugar, Cement, Flour
Aliko Dangote is not only Africa’s richest man; he’s also the richest black person in the world. Dangote built his fortune trading in cement, sugar and flour but subsequently ventured into manufacturing these commodities. His Dangote Cement is the largest cement producer in Africa with operations in several African countries. In January he announced plans to establish a $100 million truck manufacturing facility in Lagos in partnership with SINOTRUK, a Chinese firm.
2). MOHAMMED AL-AMOUDI, $8.4BILLION
Saudi Arabian, Oil
Mohammed Al-Amoudi is one of the richest men in the Arab world, but he has deep Ethiopian roots. His mother was Ethiopian and he has been investing heavily in the African country for many years. In Ethiopia, his Midroc Ethiopia Technology Investment Group has investments in gold mining, leather production, agro processing, transport and construction. Outside Ethiopia, he owns oil refineries in Morocco and Sweden and oil fields off West Africa.
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