African Vibes Magazineโs 2018 African Billionaires List
When it comes to African Billionaires, there are some usual suspects that make the list every year. Unfortunately, 2018 closed on a very bumpy note in the equities market and for many billionaires, this among other things resulted in some considerable loses in fortunes and some billionaires dropping off the list altogether.
The list dropped by 7 from 31 African billionaires to 24. A few billionaires still managed to grow their fortunes. Most Notably Nigeriaโs Mike Adenugu who grew his fortunate the most with a 3.2 billion increase over his 2017 fortune.
Isabel Dos Santos remained Africaโs richest woman, Mohammed Dewji is still Africaโs youngest billionaire, and South Africaโs Elon Musk maintained the number one spot as the richest African on the list.
African Countries represented on the Billionaire list
By the end of 2018, South Africa had dropped 5 billionaires from the previous year. They closed with 6 billionaires, same as Egypt which dropped 2 billionaires from its 2017 list.
Nigeria maintained its 3 billionaires while last yearโs newcomer from Zimbabwe still held his own. The other countries represented are Angola, Algeria, Ethiopia, Sudan, Swaziland and Zimbabwe with theirย first Billionaire.
African Billionaire Age Distribution
There areย 3ย billionaires in theirย forties, 5 in their fifties, 7 in their sixties, 6ย in their seventies and 3 in their eighties.ย Africaโs youngest Billionaire is still Mohammed Dewji from Tanzania at Ageย 42.
Methodology
The African Billionaires listย is a snapshot of wealth taken onย January 1, 2019. It is based on theย Forbesย Real-time billionaire wealth calculator. The calculation is derived from stock prices and exchange rates from around the world used to calculate net worths. Some fortunes change from day to day due to fluctuations in the market.
The list is based on individuals rather than multigenerational familiesย who share large fortunes, though included is wealth belonging to a billionaireโs spouse and children if the current list member is the founder of the fortune.ย In that case, youโll seeย โ& familyโ on the list. Also included are married couples who built fortunes and businesses together.
It was an interesting year for African billionaires as some fortunes shrunk and others grew. So letโs look at who is left on the list and how they did in spite of the rough year-end.
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