The number of African billionaires has shrunk to just 20, down from 23 a year ago, because of plunging stock prices and weaker currencies, and honestly, our thoughts and prayers are with them and their families during this very difficult time.
As for Aliko Dangote, while he is also mourning the loss of a few billions, he's still Africa’s richest person (for the eighth year in a row), according to Forbes. His estimated $10.3 billion net worth is about $2 billion less than a year ago, due to a 20% drop in the stock price of Dangote Cement.
Africa's second-richest person is Mike Adenuga, also from Nigeria, worth an estimated $9.2 billion (an increase from last year's$5.3 billion). He owns telecoms company, Globacom; oil exploration firm, Conoil; extensive real estate in Nigeria; and a network of 12,000 cellphone towers.
In third place on the list is diamond heir, Nicky Oppenheimer of South Africa, whose grandfather founded diamond mining firm, DeBeers, which Nicky ran and then sold to mining giant, Anglo American for $5.1 billion cash in 2012. He is currently worth an estimated $7.3 billion.
Folorunsho Alakija is the only Nigerian woman on the list, coming in at number 19 with $1.1 billion. Zimbabwe's Strive Masiyiwa, founder of Econet Wireless, is also on the list, and is richer than a year ago. He's now worth an estimated $2.3 billion, up from $1.6 billion last year.
In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two. Forbes found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe. For the most part, they all credit grit and hard-work for their fortunes.