15 Richest Billionaires in Africa – This Might Surprise You

Mike Adenuga

Mike Adenuga (Net Worth $4.7B)

The reclusive, self-made Nigerian billionaire Mike Adenuga built a fortune in mobile telecom and oil production. He founded Globacom, Nigeria’s second largest mobile phone network, in 2006. It has 24 million customers in Nigeria, operates in the Republic of Benin and recently acquired licenses to start businesses in Ghana and the Ivory Coast. His Conoil Producing is one of Nigeria’s largest independent exploration companies, with a production capacity of 100,000 barrels of oil per day. Adenuga made his first fortune at age 26 in the 1970s by distributing lace and other materials, but he hit it big during the military regime of former President Ibrahim Babangida. Adenuga is widely believed to be a proxy investor for former President Babangida.

 

johann rupert

Johann Rupert  (Net Worth $6.6B)

South African Johann Rupert’s fortune has grown an astounding 30 percent over the course of the past year, due largely to the thriving fortunes of his Swiss-based luxury goods outfit, Compagnie Financiere Richemont. The stock has jumped more than 50 percent year-on-year. In November of 2012, the company announced that Rupert would step down as CEO by March, and co-CEOs Richard Lepeu (currently deputy CEO) and Bernard Fornas (currently head of Cartier) would replace him. His fortune is further buoyed by stakes in investment holding companies Remgro and Reinet.

Democracy needs journalism it can trust.

This election season, the stakes are higher than usual — and so is the pressure on newsrooms to soften their coverage, stay quiet, or just disappear. Independent reporting, the kind that answers to readers instead of advertisers or political pressure, matters more in a moment like this, not less.

For over 14 years, Atlanta Black Star has stayed independent and reader-funded. We have no corporate owner and no shareholders telling us what to cover or how to cover it. That independence is also our biggest vulnerability: nothing protects it except readers choosing to fund it directly.

Newspaper ad revenue has fallen more than 80% since 2005, and local newsrooms are closing at a rate of roughly two a week nationwide. When outlets go under in a moment like this, it's rarely the independent, reader-funded ones that get to stick around.

We know a request for support isn't why you came here. But without readers choosing to fund this work directly, the depth of reporting we can do at home and abroad shrinks along with everyone else's. If you're not in a position to give, that doesn't change how much we value you as a reader.

If you are able to, a recurring contribution does more for us than a single one-time gift, because it lets us plan the next investigation instead of just the next invoice. It takes about 30 seconds, no long form, no account. Thank you for continuing to support independent journalism and freedom of the press.

Back to top