Top 10 Richest African Presidents , Net Worth And Source Of Income
Africa is quite apparent the world’s second-largest and second-most populous continent. At about 30.3 million km 2 including adjacent islands, it covers 6% of Earth’s total surface area and 20% of its land area. With about 1.3 billion people as of 2018, Africa accounts for about 16% of the world’s human population.
This article covers the list of the top ten richest presidents in Africa. The list consists of the wealthiest and among the most influential presidents in Africa in 2019.
Africa is well-endowed with natural resources. Unfortunately, high levels of corruption amongst the political leaders have forced many citizens to live below the poverty line. Most African presidents have been accused of accumulating wealth at the expense of the poor citizens. Below are the top ten richest presidents in africa;
1. Mohammed VI – Morocco ($5.8 billion)
Mohammed VI the king of Morocco who is believed to be the richest president in Africa is worth $5.8 billion. He was born in 1964, August 21st. He was number five in the Forbes List of top richest in Africa in 2015. His wealth emanates from an inheritance from his father King Hassan. He owns 5% of shares in Societe Nationale d’Investissement (SNI) a holding company which has stakes in Atijariwafa, Management Group, and Centrale Danone.
2. Ali Bongo Ondimba – Gabon ($1 billion)
Ali Bongo Ondimba is the president of Gabon and among the top richest presidents in Africa. He is worth $1 billion. He has been in power since 2009 October. He is the son of the former president of the county Omar Bongo. Ali Bongo Ondimba was born on 1959 February 9th. He owns several properties in foreign nations including a townhouse worth $138 million in Paris.
3. Teodoro Obiang Nguema – Guinea ($600 million)
Teodoro Obiang Nguema Mbasogo is the 2nd and incumbent president of Equatorial Guinea. He has been in power since 1979. He was born on June 5th, in the year 1942. The country constitution has given him the power to rule through a dictatorship. As of 2019, his net worth stood at $600 million as per Forbes Magazine. In 2007, he was investigated on corruption and use of funds fraudulently to finance his luxuries and purchase private mansions. Teodorin, the eldest son of Obiang and the vice president of the country has been accused by various international countries such as France and the USA for money laundering and purchase of property using stolen funds. The family is said to own Equatorial Guinea’s economy. Corruption, poverty, and abuse of human rights continue to affect the citizens of the country under Teodoro Obiang Nguema Mbasogo leadership.
4. Uhuru Kenyatta – Kenya ($500 million)
Uhuru Kenyatta is the current president of Kenya serving his second term as the 4th ruler of the republic. He was born in 1961 October 26th. His father, Mzee Jomo Kenyatta was the first president of the nation. Although sources estimate Uhuru Kenyatta’s net worth to be $500 million, he is richer than the Rwandese president. According to Forbes, his main source of wealth is land. He is the heir of the largest land holdings in the country with over 500,000 acres of land acquired by his father in 1960s. Uhuru Kenyatta and his family members also own popular businesses in the country such as Brookside Dairies, shares in K24 a television station and a commercial bank among others.
5. Paul Kagame – Rwanda ($500 million)
Paul Kagame, the president of Rwanda was born in October 1957, in Tambwe Ruanda-Urundi. He rose into power in 2000 and has been the president of Rwanda after the resignation of Pasteur Bizimungu. He is worth $500 million. According to a report by Financial Times in 2012, Paul Kagame and his family own the majority of investments in Rwanda such as Crystal Ventures. The company has $500 million worth of assets inclusive of a Bombardier Global Express private jet worth $50 million. Most of his wealth is also hidden offshore under the names of his children. Ivan Kagame is said to have a house in Beverly Hills, California worth 2 million dollars.
6. Cyril Ramaphosa – South Africa ($450 million)
Cyril Ramaphosa is the current president of South Africa. According to Time Magazine Cyril Ramaphosa was among the most influential people in 2019. According to Forbes Magazine, Cyril Ramaphosa net worth was $450 million in 2015. He was also number 12 among the richest South African the same year. He is a self-made millionaire. He was the chairman of Shanduka Group that merged with the Pembani Group to form Pan African Industrial Holding Group, with total assets amounting to $900 million. Shanduka own financial institutions, bottling plants among other businesses.
7. King Mswati III – Swaziland ($200 million)
King Mswati III is the leader of a monarch that currently rules Swaziland. He is worth $200 million according to Forbes. His wealth comes from his enormous investments. The 51-year-old monarch owns several vehicles including a Maybach worth $500,000. He also has a private jet that he received in 2018 as a gift for his birthday as he turned 50. The private jet is worth $17 million. Allegedly, his over 13 wives spent $6million on shopping in summer 2019. The king has however been criticized due to his extravagant lifestyle as the rest of the citizens suffer. Over 40% of the population is also unemployed.
8. Abdel Fattah el-Sisi – Egypt ($185 million)
The president of Egypt since 2014 is Abdel Fattah el-Sisi. He was among the top 50 powerful people in Forbes List 2018. The president was born on 1954 November and his net worth is $185 million. His source of wealth includes inheritance, land assets as well as family success as reported by the Guardian.
9. Isaias Afwerki – Eritrea ($100 million)
Isaias Afwerki was born on 1946 February 2nd in Asmara, Eritrea. He has been in power since 1993 as the president of Eritrea. His net worth is estimated to be $100 million. His wealth is said to come from compensations as a world leader.
10. Idriss Déby – Chad ($50 million)
Idriss Déby Itno born on June 18th, 1952 has been the president of Chad since 1990. He won the presidency in 1990 through a coup to become the 6th president of Chad. He has consecutively won the five other presidential elections that have been held in Chad.
Idriss Déby is worth $50 million according to Celebrity Net Worth. In 2006, Chad was listed as the world’s most corrupt nation by Forbes Magazine. Chad’s wealth comes from oil but over 10 million of its citizens live below the poverty line.