The 2019 Forbes list of the world’s billionaires identified 13 individuals of African descent, with Nigeria accounting for four entries. Aliko Dangote, founder of the Dangote Group, remained the wealthiest person of African heritage with a net worth of $10.9 billion. Born in Nigeria, Dangote built his empire through commodity trading before expanding into industrial sectors.
Mike Adenuga, another Nigerian, ranked second with $9.1 billion. As founder of telecom giant Globacom and oil company Conoil, Adenuga’s wealth stems from energy and telecommunications. Robert Smith, an American private equity magnate, held the third position with $5 billion through his firm Vista Equity Partners.
Zimbabwean entrepreneur Strive Masiyiwa led African representatives with $2.4 billion through his telecom company Econet. South Africa’s Patrice Motsepe, the only black mining magnate on the list, had a net worth of $2.3 billion via Rainbow Minerals. Nigerian businesswoman Folorunsho Alakija and British entrepreneur Mohammed Ibrahim each held $1.1 billion through oil and banking ventures.
Ibrahim’s wealth originated from founding Celtel in 1998, which he sold to Kuwait’s Mobile Telecommunications Company for $3.4 billion in 2005. The list also included American media mogul Oprah Winfrey ($2.5 billion) and former NBA star Michael Jordan ($1.9 billion). The 2019 edition marked a decline in global billionaire numbers compared to previous years.
Forbes’ annual ranking underscored the growing economic influence of African entrepreneurs, with Nigeria’s business sector featuring prominently among the world’s wealthiest individuals.
