African billionaires more numerous than previously thought, according to new report
African billionaires: Editors of the report said Tuesday their estimates are 'on the conservative side.'
Founder and Chief Executive of the Dangote Group Aliko Dangote gestures during an interview with Reuters in his office in Lagos, last year. According to a new report, Dangote is the richest African, worth $20.2 billion.
Akintunde Akinleye/Reuters
LAGOS, Nigeria
A pan-African magazine says Africa has many more billionaires than previously reported, 55 of them worth $143.88 billion including a Nigerian said to be the richest black woman in the world.
"Move over, Oprah!" Ventures Africa says in its latest edition published this week.
Editor-in-chief Uzodinma Iweala said Tuesday their estimates are "on the conservative side."
The report predictably identifies Nigerian manufacturer Aliko Dangote as the richest African worth $20.2 billion, among 20 Nigerians listed.
It surprises by identifying oil tycoon Folorunsho Alakija as the richest black woman in the world, worth $7.3 billion.
Forbes magazine in its respected list had estimated Alakija's fortune at $600 million and Oprah Winfrey's worth at $2.9 billion. Iweala said his researchers are "closer to the ground" and expect to unearth moreAfrican billionaires.