Fashion Week Flash: Tracy Reese Fall 2012 (PHOTOS)
54 Ways to Say "I Love You" In Africa
For the first time ever, black Africans have made it onto the Forbes list of the world's wealthiest billionaires. While one hails from South Africa, the other rules his enterprise in Nigeria.
This exclusive club includes Warren Buffett, the world's richest man, who has a fortune estimated at $62 billion. He's banked $10 billion more since last year.
Aliko Dangote (from Nigeria, pictured left) and Patrice Motsepe (from South Africa, pictured below) have wealth of $3.3 billion and $2.4 billion respectively, and represent some of the richest black people in the world.
This exclusive club includes Warren Buffett, the world's richest man, who has a fortune estimated at $62 billion. He's banked $10 billion more since last year. Aliko Dangote (from Nigeria, pictured left) and Patrice Motsepe (from South Africa, pictured below) have wealth of $3.3 billion and $2.4 billion respectively, and represent some of the richest black people in the world.
At the age of 21, Dangote became a stock trader off an uncle's loan. After he built his company, The Dangote Group, into a conglomerate with interests in sugar, flour milling, cement and salt processing, he struck gold when his sugar production company was listed on the Nigerian stock exchange last year
The Dangote Group dominates the sugar market in Nigeria and is the country's largest Industrial group.
He is ranked the 334th richest man in the world and the the second richest black person in the world after Ethiopian-born Mohammed Al Amoudi. Al Amoudi is the richest black person in the world with a total net worth of $9 Billion followed by Oprah Winfrey ($2.5 billion), Mo Ibrahim ($2.5 billion) and of course Patrice Motsepe ($2.4 billion).
Motsepe, has been dubbed the "prince of mines" by some because of the vast fortune he has amassed through his company African Rainbow Minerals (ARM). Not only is he the executive chairman of ARM, but he also holds a 42 percent stake in the company, allowing him to join the 226 other new billionaires to join this list this year.
Over 15 years Motsepe, preaching free market capitalism, turned a low-level mining services business into the country's first black-owned mining company, African Rainbow Minerals, with 2007 revenue of $875 million. Driven by the Asian commodities boom, ARM's share price has rocketed in the past year from $12 to $24, pushing Motsepe's net worth to $2.4 billion.
Comments: (80)
Add a comment
By: Jimmy Jam on 3/11/2008 7:26AM
I'm really upset at Black Aol in us talking about a
Black African Billionare, why don't you talk about the
people across this SO CALLED America Starving, Men out
of work as Women too. Its terrible, its ABOMINABLE.
Reply to this Comment | Report This
By: Ayodele Antoine on 3/11/2008 7:46AM
I am so happy that finally we have some confirmation that Africans have the intellectual capacity to become multi-millionares. These two individuals are proof that Blacks are not only talented in sports and music, but we can also be savy business people
Reply to this Comment | Report This
By: Sherie on 3/11/2008 9:46AM
We were billionaire's since the begining, it stopped when the (W) man rolled into africa and stole what didn't belong to them like they continue to do. I'm not impressed that we've just now made this (w) mans list.
Reply to this Comment | Report This
By: jessica on 3/11/2008 10:01AM
why don't one of those billionaires donate money to the homeless? they can spare 1 or 2 billion to stop world hunger. if you think about it, if everyone of these million and billionaires donate money to a homeless charity to keep people off the streets and into a home, that would end all the suffering. The problem: the government and their ego won't allow it. They love spending money on extremely expensive toilet seats.
Reply to this Comment | Report This
By: tony oke on 3/11/2008 10:02AM
A QUICK CORRECTION
DANGOTE IS RICHER THAN OPRAH.
OPRAH IS THIRD RICHEST NOT SECOND. STOP BEING SO IRRATIONAL. AND ALSO YOU SITTING ON A PACK OF CASH COMMENT IS JUST AS IRRATIONAL.
Reply to this Comment | Report This
By: K on 3/11/2008 11:41AM
You know What? I am tired of people demanding that the rich do the giving. Each of us, no matter how poor can afford to drop a dollar in the save-the-world pot. But, oh no, we want/demand that the rich donate their share--and ours too.
Reply to this Comment | Report This
By: Airet on 3/11/2008 6:51PM
I just hope they are being good stewards over their wealth. A good steward understands that when God gives wealth we have a responsibility towards advancing His Kingdom. It may be difficult to read this report, because many people are being challenged with a "recession". I understand, I was recently laid off and I have two children. If God can do it for them, He can do the same for me. Keep praying and working towards your destiny.
Reply to this Comment | Report This
By: Darryl on 3/11/2008 7:25PM
Jimmy Jam and Jessica are both narrow minded IDIOTS!
First of all to Jimmy - Black AOL indulges in a plethora of stories including Men/Women out of work, so what if they englighten readers about an African Billionaire - get over it expand your mind to learn about some positive aspects of our race. And to Jessica did you ever stop to think that maybe these black billionaires Do Donate monies for hunger and other various causes possibly as a secret donor? Duh!!!! Both of you need to take a THINKING TIME OUT.
Reply to this Comment | Report This
By: mike Hunt on 3/11/2008 7:51PM
IM SURE THEY GIVE BACK--- NOT !
Reply to this Comment | Report This
By: Mr. Ra on 3/12/2008 4:12AM
A reader named "Jimmy Jam" commented that, "Its terrible, its ABOMINABLE."; referencing the homeless problem in the US.
Well, as someone who (I assume) is not homeless or starving I ask, "How often do you donate?". See, if every poor person donate a quarter, then that also will eliminate the problem. I say poor people because they know hardships. But they won't; because they have a perfect excuse and that's terrible and ABOMINABLE.
Also, in the US there are resouces and services available that doesn't exist in many countries on the continent of Africa. In fact, there are more than a few cases (in the US) wherein there is no excuse for being homeless.
So, let's stop complaining about what other people are not doing, and get up and do something yourself.
Reply to this Comment | Report This