There are three new billionaires on the list: Orji Uzor Kalu of Nigeria, Tony Elumelu of Nigeria and King Mohammed VI of Morocco. Three billionaires on last year’s list are no longer members of the 10-figure club: Vimal Shah of Kenya is off the list, replaced by his father Bhimji Depar Shah at a lower net worth. Abdulsamad Rabiu of Nigeria dropped below $1 billion due to ceased operations at his floating cement terminal in Nigeria. And South African mining mogul Desmond Sacco dropped to a net worth of $680 million, down from $1.4 billion last year, because of a sharp decline in the share price of his mining firm Assore Group. The net result: the number of billionaires on the list stayed steady with 2013 at 27.

For the full list, see www.forbes.com/africa-billionaires



Africa’s 50 richest are, as a whole, wealthier than a year ago. Their combined net worth of $110.7 billion is 6.7% more than in November 2013. The minimum net worth needed to join this elite group rose to $510 million, up from $400 million a year ago.

Behind Aliko Dangote at number one with a fortune of $21.6 billion, comes South African luxury goods magnate Johann Rupert, number two for the second year in a row, worth an estimated $7.3 billion. His Compagnie Financiere Richemont has a stable of luxury brands including Cartier, Montblanc and fashion house Azzedine Alaia.

Six newcomers join the list of richest Africans, including the above mentioned new billionaires, as well as Ali Wakrim of Morocco and Ahmed Ezz of Egypt. Mohamed Bensalah of Morocco rejoins the list after dropping off in 2013. Seven members of the 2013 list fell off: Vimal Shah of Kenya (as mentioned earlier, his father Bhimji replaced him), Cyril Ramaphosa of South Africa, Raymond Ackerman of South Africa, Sani Bello of Nigeria, Adrian Gore of South Africa, Shafik Gabr of Egypt, and Alami Lazraq of Morocco.

The oldest person on the list is 85 – both Miloud Chaabi of Morocco and Onsi Sawiris of Egypt share that age. The youngest is Mohammed “Mo” Dewji of Tanzania, age 39. The number of women on the list is two, unchanged from a year ago. Thirty-five of the fortunes were self made; two were inherited and the remaining 13 were inherited but are being expanded. The average net worth of each list member is $2.2 billion, compared to $2.1 billion a year ago.


Our list tracks the wealth of African citizens who reside on the continent, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen, and billionaire London resident Mohamed Al-Fayed, an Egyptian citizen. We calculated net worths using stock prices and currency exchange rates from the close of business on Friday, November 7. To value privately-held businesses, we couple estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies.

We have purposely excluded dispersed family fortunes such as the Chandaria family of Kenya and the Madhvanis of Uganda, because the wealth is believed to be held by dozens of family members. We do include wealth belonging to a member’s immediate relatives if the wealth can be traced to one living individual; in that case, you’ll see “& family” on our list as an indication.

Editor’s note: An earlier version of this article incorrectly stated that Abdulsamad Rabiu had halted his cement operations in Nigeria; the operations that were halted were at his floating cement terminal, which imports cement in bulk and distributes it in bags.

Follow me on Twitter at @KerryDolan.

kettykin:
A note to Niger Deltans and other Nigerians , the igbos who made the List have no links whatsoever with Niger Delta Oil unlike some of the other Nigerian billionaires who were allocated Niger Delta oil wells by the Northern Military heads of state .

These Include Mike Adenuga, TY Danjuma, Folorunsho Alakija,Femi otedola,mohammed Indimi, Tunde Folawiyo etc these have feasted and still feast on Niger Delta heritage
see the full list below
http://www.forbes.com/africa-billionaires/list/#tab:overall

ofiafuluego:
D first ever billionaires in Nigeria who had no connection with oil and still made it to Forb list.
Lesson! Igbos can make it to d top wit little or no connection wit oil.More reasons I shld canvass for Biafra.
#teambiafra#

Chylo:
What kind of stupid nonsense is this? So they are Igbos. and so what? What have they done for our people? How much development have they attracted to our people? This kind of news irritates me. They will gather money and invest in everywhere apart from their hometown. Let they gerrout with their money joor. ọbara ego, ụmụ anụmanụ!

mhizenugu:
Your obviously a dumb aSss • •

IGBOSON1:


^^^Any Niger Deltans on the list?

If this was a country built on fairness and equity, Niger Deltans ought to occupy the top three Nigerian slots!

9jii:
I wonder d kind noise these people will make if dangote na one of em?

kettykin:
Not included on the Forbes List include Chinedu Echeruo whose mega deal with Apple last year was celebrated world wide

kettykin:

it is on record that the greatest opposition to Jonathan's aspiration to contest for the presidency is from the south west and also the greatest beneficiaries of Niger Delta oil wealth is from the South West

Slonge2:
is the deal not worth just 1billion dollars?

Slonge2:
is the deal not worth just 1million dollars, we are talking billions.

Slonge2:
is the deal not worth just 1billion dollars?

Chylo:
What kind of stupid nonsense is this? So they are Igbos. and so what? What have they done for our people? How much development have they attracted to our people? This kind of news irritates me. They will gather money and invest in everywhere apart from their hometown. Let they gerrout with their money joor. ọbara ego, ụmụ anụmanụ!

kettykin:


we all saw how Obasanjo treated somebody who would have beaten Dangote hands down, Nigeria would have been very uneasy if Ibeto emerged
the richest african

mikeson12:



Jealousy kills!

Ayekotoo:
Can someone list all the companies and investments own by Orji Uzor Kalu? who milked Abia state dry despite having 13% derivation?