These 5 African Billionaires Had A Very Good 2015

By on January 20, 2016 in ArticlesBillionaire News

2015 was a good year to be a billionaire in Africa. South African retail mogul Christoffel Wiese saw his net worth increase by $841 million in 2015. That's a 15% boost in his net worth from the previous year. He wasn't the only African billionaire whose fortunes soared, however, he benefitted from a deal in February of 2015 that made him one of Africa's largest retailers of clothing and home goods. Two companies in which he had large stakes – Pepkor and Steinhoff – agreed to a deal in which Steinhoff, a furniture retailer purchased Pepkor, a discount clothing and shoe retailer, founded by Wiese's family. The deal was worth $5.7 billion in cash and stock. He also holds 15% of Shoprite Holdings, which is in supermarkets and fast food chains in 15 countries in Africa. In Weise's $841 million gain made him the biggest billionaire gainer in Africa in dollars. Christoffel Wiese has a net worth of $5.4 billion.

However, Wiese wasn't the biggest gainer in percentage terms. That award goes to Nigerian oil executive Femi Otedola. He owns more than 70% of Forte Oil, Africa's largest importer of fuel products. Oteolda saw his net worth jump by more than 75% in 2015, when Forte Oil's stock price reached a record high. Forte Oil benefitted from being awarded a lucrative crude oil contract from the Nigerian government. As a result, Otedola ended 2015 with a net worth of $1.81 billion. Oteldola's late father is a former governor of Lagos.

PIUS UTOMI EKPEI/GettyImages

PIUS UTOMI EKPEI/GettyImages

Of Africa's 21 billionaires, five of them saw their fortunes increase in 2015.

Christoffel Wiese

South Africa

Net Worth: $5.4 billion

Increase: $841 million (15%)

Femi Otedola

Nigeria

Net Worth: $1.8 billion

Increase: $778 million (75%)

Isabel dos Santos

Angola

Net Worth: $4 billion

Increase: $335 million (12.5%)

Issad Rebrab

Algeria

Net Worth: $3.2 billion

Increase: $181 million (6.6%)

Mohammed Dewji

Tanzania

Net Worth: $1.25 billion

Increase: $308 million (38.7%)

Articles Written by Amy Lamare
Amy Lamare is a Los Angeles based writer covering business, technology, entertainment, philanthropy, and pop culture. She spent 8 1/2 years covering the entertainment industry for www.hsx.com. She attended the University of Southern California where she majored in Creative Writing. An avid long distance runner, weekends she can be found running the streets of Los Angeles training for 1/2 and full marathons. Follow her on Facebook.
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction
Discussion