The net worth of Africa’s richest man Aliko Dangote has declined in Forbes latest ranking of richest people in the world.
The business mogul in 2016 ranked 51st with a net worth of $15.4 billion but has dropped to $12.2 billion making him the 105th richest person in the world.
Dangote’s fall on the ladder of billionaires has been attributed to the devaluation of the Naira.
The businessman was ranked the 37th richest man in the world in 2014 with a net worth of $25 billion.
The African continent has 21 billionaires who are altogether worth $70 billion.
The second richest African after Dangote is a diamond tycoon from South Africa, Nicky Oppenheimer with a net worth of $7 billion ranking 199 on the list and followed closely by Johann Rupert with $6.1 billion and 237 in the ranking.
Another Nigerian that made it on the list is Mike Adenuga, a telecom mogul worth $5.8 billion and ranked 250.
Christoffel Wiese, a retail magnate from South Africa and Egypt’s richest billionaire Nassef Sawiris individually worth $5.6 billion and ranked at 269.
South Africa still remains the most dominated country in Africa on the list while the most represented in individual billionaires is Egypt.
Africa’s richest woman and daughter of Angola’s president, Isabel dos Santos also made the list together with Folorunsho Alakija, the vice chair of Famfa Oil, a Nigerian oil exploration company.
The two, are the only women in Africa represented on the list.
The youngest billionaire on the continent, Mohammed Dewji from Tanzania is only 41. He is CEO of conglomerate METL, which his father founded in the 1970s.
Africa’s oldest billionaire is Egypt’s 86 year old Onsi Sawiris who is the father two other billionaires, Egypt’s richest Nassef and his brother Naguib Sawiris.
Thirteen out of Africa’s 21 billionaires have self-made fortunes, while the other eight inherited their fortunes.
Only eight of the continent’s billionaires inherited their wealth, with the other 13 being self-made billionaires
The world’s richest from Africa come from South Africa, Egypt, Nigeria, Morocco, Algeria, Angola, and Tanzania.