ALIKO DANGOTE DROPS DOWN AS FORBES RELEASES LIST OF AFRICA'S BILLIONAIRES

Aliko Dangote

Nigeria's Aliko Dangote maintains Africa's richest person following the list of Continent's billionaires released by Forbes. With his estimated net worth of $10.3 billion, Dangote have maintained Africa's richest person 8 years in a row but shrunk down with nearly $2 billion in less than one year "due to a roughly 20 % drop in the stock price of Dangote cement " which is his most valuable asset.

Mike Adenuga emerged Africa's second richest with estimated $9.2 billion. Adenuga owns Globacom which is Nigeria's third largest mobile phone network, and oil exploration firm conoil producing, extensive real estate holdings in Nigeria and a network of 12,000 cellphone towers.

Mike Adenuga

According to Forbes, Adenuga's net worth "dramatically climbed from $5.3 billion in January 2018 as a result of more detailed information provided by him about his assets".

Meanwhile, Nicky Oppenheimer of South Africa becomes Africa's 3rd richest with estimated worth of $7.3 billion having dropped down from $7.7 billion a year ago.

Nicky Oppenheimer

From all indications, four people fell Forbes annual list of the continent's richest since last year including Nigeria's Folorunsho Alakija.

Folorunsho Alakija

Alakija, Africa's 19th richest person owns a stake in one of the most productive oil field in Nigeria which is currently operated by Chevron. Her net worth dropped due to a decline in the value of the oil field, in part because it's production has leveled off.

The 20 Africa's billionaires net worth summed up to $68.7 billion down from $75.4 billion of last year's list.

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