There are 55 African billionaires according to a Pan-African Magazine. On Oct. 8, ABC News reported that the mag found that each of those 55 people are collectively worth $143 billion -- and one of them is the richest black woman in the world. Yeah, it's not Oprah Winfrey like you may have previously thought.
"Africa Ventures put the average net worth of Africa's billionaires at $2.6 billion and their average age at 65. The oldest billionaires are Kenyan industrialist Manu Chandaria and Egyptian property tycoon Mohammed Al-Fayed, both aged 84. The youngest billionaires are Mohammed Dewji of Tanzania and Nigerian oil trader Igho Sanomi, both 38 years old," ABC News reported.
55 African billionaires might not mean much to you but a previous report from Forbes claimed that there were only 16 billionaires in Africa -- so the difference is significant. As you might expect, these findings have stirred up quite a bit of controversy with people wondering just how there are so many wealthy people in Africa -- but it's fairly simple.
Most of the billionaires have been credited with forming large corporations and chains -- many of which spread successfully all over the continent. Sure, there are a lot of Africans that travel to America or Europe to prosper but many do well at home. Does this surprise you?
All 55 African billionaires currently live in Africa.
© Effie Orfanides 2013