The Forbes rich list has named the Asantehene, Otumfuo Osei Tutu II, as Africa’s fifth richest king.
The Ashanti King is estimated to be worth $10 million. His source of wealth, according to Forbes, is from mining equipment, an extensive real estate in Ghana and South Africa, and gold jewellry. Otumfuo Osei Tutu II came behind King Mswati III of Swaziland, Oba Okunade Sijuwade of Ile-Ife, Nigeria, Oba Obateru Akinrutan of Ugbo Land, Nigeria and King Mohammed VI, Morocco in the ranking.
King Mohammed VI, Morocco was named Africa’s richest king with an estimated net worth of $2 billion. He made his wealth from investments and owns a large stake of the world’s phosphate reserves.
Oba Obateru Akinrutan of Ugbo Land, Nigeria, came in second with an estimated net worth of $300 million. He owns Obat Oil, one of Nigeria’s largest privately-held oil trading companies, and an extensive portfolio of prime commercial and residential real estate in London and Nigeria.
In third place, Oba Okunade Sijuwade from Ile-Ife, Nigeria, made his $75 million fortune in construction, property and oil.
King Mswati III of Swaziland’s $ 50 million wealth has been generated by investments in sugar, beverages and dairy
Black Stars captain, Asamoah Gyan and his elder brother, Baffour Gyan, have released a statement on the suspected drowning of hiplife artiste, Castro, and Jane Bandu in the Ada estuary on Sunday.
VENTURES AFRICA – The combined fortune of Africa’s 55 billionaires is $143.88 billion. The average net worth of the members of this exclusive club is $2.6 billion, while the median age of the richest people in Africa is 65 years. The oldest billionaires are Kenyan industrialist, Manu Chandaria, and Egyptian property tycoon, Mohammed Al-Fayed, both aged 84. The youngest billionaires are Mohammed Dewji of Tanzania and Igho Sanomi, a Nigerian oil trader. They are both 38 years old. Nigeria, South Africa and Egypt lead the pack with the highest number of billionaires at 20, nine and eight respectively. Algeria, Angola, Zimbabwe and Swaziland only have one billionaire each. In all, there are 10 African countries represented on the list. Three women made it into the rankings. The richest of them is Folorunsho Alakija, a Nigerian fashion designer and oil tycoon worth some $7.3 billion by our estimates. Isabel Dos Santos, an Angolan investor and the daughter of Angolan President, Eduardo Dos Santos, together with Mama Ngina Kenyatta, the widow of Kenya’s first President, also made the cut. Africa’s richest people derived their fortunes pursuing a variety of business endeavours including financial services, mining, construction, energy