African billionaires are growing in numbers, according to a pan-African magazine which pooled together a list of 55 billionaires from Africa. "Move over, Oprah!" Ventures Africa writes in its latest edition published this week.
The American media tycoon may no longer hold the title as the wealthiest African woman in the world, after the magazine pegged oil tycoon Folorunsho Alakija as the richest black woman in the world, estimating her worth to be in the region of $7.3 billion. Meanwhile, Forbes says Oprah Winfrey is worth $2.9 billion and estimated Alakija's fortune to be a conservative $600 million. Last month, Forbes published a story describing Angolan President Jose Eduardo dos Santos' daughter, Isabel, as Africa's only female billionaire worth about $3 billion.
Previous African billionaires have been counted as 16 billionaires in total, but Ventures said its exhaustive research had identified at least 55 on a continent where the wealthy often fiercely protect details about their fortunes.
Who exactly is this African billionaire Folorunsho Alakija? This 62-year-old Nigerian born self-made billionaire became wealthy after receiving a license to explore for oil in a block. She was given this in 1993 by the the Babangida regime, according to Ventures Africa, although the magazine does not specify under what terms. This block of land went on to become one of the most prolific in the oil-rich country, producing some 200,000 barrels a day and making her a billionaire.
Meanwhile, the report names Nigerian manufacturer Aliko Dangote as the richest African worth $20.2 billion. Out of the list of 55 African billionaires, 20 were from Nigeria, nine from South Africa and eight in Egypt.
According to the magazine report, Algeria, Angola, Zimbabwe and Swaziland only have one billionaire each. It identified billionaires in only 10 of Africa's 53 countries.
