00:00 The fortunes of Africa's wealthiest people have rebounded slightly in the past 12 months,
00:07 reversing the decline in their fortunes from a year ago, though they are still off their
00:11 all-time highs from 2022.
00:14 The 20 billionaires on the 2024 Forbes list of Africa's richest are worth a combined
00:19 $82.4 billion.
00:20 That's up $900 million from last year's $81.5 billion.
00:26 However, all of that gain can be attributed to the return of Nigeria's Femi Otadola,
00:31 who last appeared on the Africa list in 2017.
00:35 This year, South Africa claims six spots on the ranking, followed by Egypt with five and
00:41 Nigeria with four.
00:42 Algeria, Tanzania and Zimbabwe each have one billionaire on the list, while Morocco has
00:47 two.
00:48 Here are Africa's top five billionaires for 2024.
00:55 Number five, Mike Adenuga.
00:58 Adenuga is Nigeria's second richest man, and he built his fortune in telecommunications
01:03 and oil production.
01:05 His mobile phone network, Globacom, is the second largest operator in Nigeria, with more
01:11 than 60 million subscribers.
01:14 Globacom also built Glo1, a 6,100-mile-long submarine internet cable that runs to the
01:22 UK via Ghana and Portugal.
01:25 His oil exploration outfit, Con Oil Producing, operates six oil blocks in the Niger Delta.
01:32 Number four, Nasef Sawiris.
01:35 Nasef Sawiris is an investor and a scion of Egypt's wealthiest family, with a net worth
01:40 of $8.7 billion.
01:43 In December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden
01:49 Sports, owner of the NBA's Knicks and the NHL's Rangers.
01:53 His holdings include a nearly 6% stake in German sportswear firm Adidas.
01:59 He also runs OCI, one of the world's largest nitrogen fertilizer producers, which has plants
02:04 in Texas and Iowa.
02:07 Number three, Nicky Oppenheimer and family.
02:11 Nicky Oppenheimer, heir to the De Beers diamond fortune, was the third generation of his family
02:17 to run De Beers, and he took the company private in 2001.
02:22 For 85 years, the Oppenheimer family occupied a controlling spot in the world's diamond
02:27 trade.
02:28 Then, in 2012, Nicky Oppenheimer sold his 40% of the firm to mining group Anglo American
02:35 for $5.1 billion in cash.
02:39 In 2014, Oppenheimer started Fireblade Aviation in Johannesburg, which operates chartered
02:45 flights, and he owns at least 720 square miles of conservation land across South Africa,
02:52 Botswana, Zimbabwe, and Mozambique.
02:57 Number two, Johan Rupert and family.
03:02 This South African luxury goods owner held onto the number two spot this year with $10.1
03:07 billion, down from $10.7 billion in 2023 as shares of his company financier Richemont
03:13 slid.
03:15 The company is best known for its brands Cartier and Montblanc, and it was formed in 1998 through
03:22 a spin-off of assets owned by Remgro Limited, a company which his father, Anton, formed
03:28 in the 1940s.
03:30 Rupert owns 7% of diversified investment firm Remgro, which he chairs, as well as 26% of
03:37 Reynet, an investment holding company based in Luxembourg.
03:42 He has been a vocal opponent of plans to allow fracking in the Karoo, a region of South Africa
03:47 where he owns land.
03:49 Number one, Aliko Dangote.
03:52 Dangote is Africa's richest person and the founder of Dangote Cement, the continent's
03:57 largest cement producer.
03:59 He owns 85% of publicly traded Dangote Cement through a holding company.
04:06 After many years in development, Dangote's fertilizer plant in Nigeria began operations
04:11 in March 2022, and his Dangote refinery is expected to begin refining operations in 2024.
04:19 His fortune rose by $400 million this year to $13.9 billion, and he claimed the ranking's
04:26 number one spot for the 13th year in a row.
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