[FORBES]: The Richest Africans in 2010

Once upon a time, Forbes’ rich list seemed like an exclusive club for Americans and Europeans. Today, a couple of African have proven to the world that when given the chance, they can rub shoulders with the high and mighty. Notably, four out of the ten men on this list belong to the Sawaris family, the Egyptian family behind the Orascom group. While only one African billionaire made it to the top 100 of Forbes’ rich list, the African billionaires have shown tremendous growth over the years and they do not show any signs of stopping anytime soon. Enjoy …

1. Mohammed Al Amoudi

Source of Wealth: Oil
2010 Forbes Ranking: #64
Country Of Citizenship: Saudi Arabia
Education: N/A
Age: 65
Marital Status: Married, 8 children
Residence: Jeddah
Fortune: $10.0 bil (Self made)
Forbes.com Says:
“Born in Ethiopia to Saudi father and Ethiopian mother, Al-Amoudi claims to be investing more than $3 billion into Ethiopian agriculture and industry with the aim of modernizing farming and eventually exporting much of the output to Saudi Arabia. Also owns mine in Ethiopia that puts out 5 tons of gold a year. Started investing in Sweden in 1974; stakes there now comprise half his fortune: Preem operates two refineries; Svenska Petroleum produces crude oil in the North Sea and west Africa. Construction company Midroc operates in Europe, Africa and Middle East. In recent years completed estimated $30 billion contract with Saudi Arabia to build vast underground oil storage caverns.”

2. Nassef Sawiris

Source of Wealth: Construction
2010 Forbes Ranking: #127
Country Of Citizenship: Egypt
Education: U of Chicago, Bachelor of Arts / Science
Age: 48
Marital Status: N/A
Residence: Cairo
Fortune: $5.9 bil (Inherited and growing)
Forbes.com Says:
“Youngest son of Orascom conglomerate founder and fellow billionaire, Onsi Sawiris. Took over leadership of empire’s flagship construction and fertilizer division in 1998. Shares in Orascom Construction Industries have doubled over the past year as projects have picked up. In January announced joint venture with investment bank, Morgan Stanley, to invest in infrastructure assets in the Middle East and Africa. Spun off group’s cement division 3 years ago to French giant LaFarge, landing Nassef a seat on the board and a 13% stake. Joined his 15% interest in Texas Industries with the late Roy Disney’s Shamrock holding in voting for slate of new directors at the company last fall.”

3. Nicky Oppenheimer & family

Source of Wealth: De Beers (World’s largest diamond producer)
2010 Forbes Ranking: #154
Country Of Citizenship: South Africa
Education: Oxford U Christ Church, Bachelor of Arts / Science; Oxford U Christ Church, Master of Arts
Age: 64
Marital Status: Married, 1 child
Residence: Johannesburg
Fortune: $5.0 bil (Inherited)
Forbes.com Says:
“Diamonds in the rough: sales of De Beers, the world’s largest diamond producer, which he runs, dropped 44% to $3.8 billion; group posted a net loss of $220 million. Cutting costs allowed it to remain cash positive. Along with De Beers’ other two investors, he and his family who own 40% of the group were asked to invest another $1 billion to help the company recapitalize and keep the ownership structure in tact. His family’s portion: $400 million. Consumer demand starting to recover, led by China and India. Still owns a stake in mining giant Anglo American, founded in 1917 by grandfather Ernest. Passionate conservationist, owns Tswalu Kalahari Reserve, largest private game reserve in South Africa.”

4. Onsi Sawiris

Source of Wealth: Construction
2010 Forbes Ranking: #307
Country Of Citizenship: Egypt
Education: N/A
Age: 80
Marital Status: Married, 3 children
Residence: Cairo
Fortune: $3.1 bil (Self Made)
Forbes.com Says:
“Founding patriarch of Egypt’s most famous business dynasty; remains chairman. Shares in primary holding, Orascom Construction Industries, have doubled over the past year as projects have picked up. In January announced joint venture with investment bank, Morgan Stanley, to invest in infrastructure assets in the Middle East and Africa. His 3 sons run construction, telecommunications and tourism divisions. Studied agriculture in college after lawyer father urged him to pursue farming. Found it boring, instead opened a small contracting firm in Upper Egypt. Construction baron forced to rebuild empire after it was nationalized in 1960s.”

5. Naguib Sawiris

Source of Wealth: Telecom
2010 Forbes Ranking: #374
Country Of Citizenship: Egypt
Education: Swiss Fed Polytech, Bachelor of Arts / Science; Swiss Fed Polytech, Master of Science
Age: 55
Marital Status: Married, 4 children
Residence: Cairo
Fortune: $2.5 bill (Inherited and Growing)
Forbes.com Says:
“Eldest son of Orascom conglomerate founder and fellow billionaire Onsi Sawiris; now executive chairman of Orascom Telecom, one of largest mobile providers in Middle East, Africa and South Asia. His Weather Investments, which includes telecom companies Italy’s Wind Telecomunicazioni and Greece’s Wind Hellas, is saddled with debt from their leveraged buyouts four years ago. Consummate dealmaker reportedly looking to buy Serbian’s Telekom Srbija.”

6. Johann Rupert & family

Source of Wealth: Luxury goods
2010 Forbes Ranking: #420
Country Of Citizenship: South Africa
Education: U of Stellenbosch, Bachelor of Arts / Science
Age: 59
Marital Status: Married, 3 children
Residence: Stellenbosch
Fortune: $2.3 bil (Inherited and Growing)
Forbes.com Says:
“Taking over in April as interim chief executive of his family’s publicly traded Swiss luxury group Richemont, which owns Cartier, Dunhill and other premium brands. Stock doubled in past year helped by Christmas sales that were ahead of expectations; also particularly bullish about continued growth in Asia-Pacific. His South African holding company, Remgro, bought out private South African investment outfit, VenFin, in which he also had a stake, in December. Appointed to position of Chancellor of the University of Stellenbosch, in South Africa’s wine country where he has an office. With family relatives, owns two of South Africa’s best-known vineyards, Rupert & Rothschild and L’Ormarins; also owns one of the country’s most exclusive golf clubs.”

7. Aliko Dangote

Source of Wealth: Sugar, flour, cement
2010 Forbes Ranking: #463
Country Of Citizenship: Nigeria
Education: N/A
Age: 52
Marital Status: Married, 2 children
Residence: Lagos
Fortune: $2.1 bil (Inherited and Growing)
Forbes.com Says:
“Commodities keeping Dangote afloat despite Nigeria’s financial meltdown. Stocks of his sugar and flour companies are both up in the past year. Meanwhile, stake in Benue Cement has doubled, helped by demand from China. Dangote now expanding cement operations in Senegal and Zambia. Overcame negative reports about debts owned to banks and share price fixing allegations to become the newly installed President of the Nigerian Stock Exchange last August. Settled row with businessman Femi Otedola, who fell off the billionaires list this year. Dangote began career as trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.”

8. Patrice Motsepe

Source of Wealth: Mining
2010 Forbes Ranking: #421
Country Of Citizenship: South Africa
Education: N/A
Age: 48
Marital Status: Married, 3 children
Residence: Johannesburg
Fortune: $2.3 (Self Made)
Forbes.com Says:
“Johannesburg mining magnate is South Africa’s first black billionaire. Net worth up this year by $1 billion as a result of rising stock prices and South African Rand’s strength against the dollar. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $1.3 billion (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: platinum, nickel, chrome, iron, manganese, coal and gold. Benefited from South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 6.2% stake in Sanlam, a publicly traded financial services company outside Cape Town where he sits on the board. Invited to chair the board of Sanlam in December, but turned down the post.”

9. Mohammed Ibrahim

Source of Wealth: Telecommunication
2010 Forbes Ranking: #463
Country Of Citizenship: Sudan, United Kingdom
Education: Ph.D from the University of Birmingham.
Age: N/A
Marital Status: N/A
Residence: London
Fortune: $2.1 bil (Self Made)
Forbes.com Says:
“Sudanese-born “Mo” founded Celtel, a mobile phone company that now serves 23 countries in Africa and the Middle East. Sold it in 2005 for $3.4 billion; pocketed $1.4 billion. The London resident now spends his time on philanthropy and investing in Africa. Created Mo Ibrahim Foundation to award monetary prize to former African heads of state who have shown exemplary leadership in such areas as promoting political freedom; panel of judges decided not to award prize in 2009.”

10. Samih Sawiris

Source of Wealth: Hotels
2010 Forbes Ranking: #655
Country Of Citizenship: Egypt
Education: Technical University of Berlin, BSc
Age: 53
Marital Status: N/A
Residence: Cairo
Fortune: $1.5 bil (Inherited and Growing)
Forbes.com Says:
“Middle son of Orascom conglomerate founder Onsi Sawiris. Samih owns and runs family’s real estate and hotel division with operations in Egypt, Jordan, Oman, UAE, Switzerland, Mauritius, and Morocco. Shares in Orascom Development Holding have gone up 150% over the past year. Fluent in German, has engineering degree from Berlin Institute of Technology. Founded first company, National Marine Boat Factory, in the 1980s. Established El Gouna Beverages Co. in 1997, which he sold in 2001 when it was the largest beverage company in Egypt.”

Antik CEO is Founder and CEO of Rankaster.com. Rankaster.com is a website where users can make top ten lists in important categories

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14 Responses to “[FORBES]: The Richest Africans in 2010”

  1. solomonsydelle
    August 25, 2010 at 12:42 am #

    Nice to see Dangote is still on the list.

  2. Ken Hews
    December 4, 2010 at 6:10 pm #

    There are several hubdred hidden Nigerian Billionnaires whose names cannot be on the list because their source of wealth is looting of their Government's treasury! The first on that hidden list is Ibrahim Babangida who looted Nigeria's treasury dry while a military head of state and has been using some of the money to work his way backto power again so as to loot some more! Nigerians wake up!

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  1. Nmachi Jidenma - August 20, 2010

    [FORBES]: The Richest Africans in 2010 http://goo.gl/fb/An48r

  2. Sentletse - August 20, 2010

    RT @cpafrica: [FORBES]: The Richest Africans in 2010 http://goo.gl/fb/An48r

  3. Semakaleng Manyike - August 20, 2010

    This Sawaris family r mafias yong! RT @Sentletse: RT @cpafrica: [FORBES]: The Richest Africans in 2010 http://goo.gl/fb/An48r

  4. Nmachi Jidenma - August 20, 2010

    4 out of 10 of them are from the Sawaris family, owners of Orascom RT @cpafrica: [FORBES]: The Richest Africans in 2010 http://bit.ly/939AWn

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