Africa is home to many wealthy leaders, and some of these presidents have amassed fortunes that rank among the highest in the world.
When talking about the richest presidents in Africa, it's essential to know their history, where they come from, and the sources of their wealth. Here are the top five richest presidents in Africa.
1. King Mohammed VI of Morocco
King Mohammed VI is the richest president in Africa. He was born in Rabat, Morocco, in 1963.
King Mohammed VI is part of the Alaouite dynasty, which has ruled Morocco for centuries. He ascended the throne in 1999 after King Hassan II, his father, died.
King Mohammed VI has an estimated net worth of around $2 billion, primarily earned from his investments in various sectors, including mining, agriculture, and real estate. His family controls a significant stake in Société Nationale d'Investissement (SNI), a large investment holding company in Morocco.
2. Ali Bongo Ondimba of Gabon
Ali Bongo Ondimba, the president of Gabon, was born in Brazzaville in 1959. He took over in 2009 after the death of his father, Omar Bongo, who had ruled Gabon for over 40 years.
As one of the richest presidents in Africa, Ali Bongo has an estimated net worth of $1 billion. His wealth is derived mainly from Gabon's oil reserves, which have played a major role in making the Bongo family extremely wealthy. His investments in real estate and other sectors also contribute to his fortune.
3. Teodoro Obiang Nguema Mbasogo of Equatorial Guinea
Teodoro Obiang Nguema Mbasogo, president of Equatorial Guinea, was born in Acoacán, Equatorial Guinea, in 1942. He has been in power since 1979 after overthrowing his uncle in a military coup.
With an estimated net worth of over $600 million, President Obiang is known for his wealth derived from Equatorial Guinea's oil reserves. His leadership has been controversial, with many accusations of corruption and misuse of public funds, but he remains one of the richest presidents in Africa.
4. Uhuru Kenyatta of Kenya
Uhuru Kenyatta, the former president of Kenya, was born in Nairobi in 1961. He served from 2013 to 2022. Uhuru, the son of Jomo Kenyatta, Kenya's founding father, was born into a wealthy family.
His net worth is estimated to be around $500 million, making him one of Africa's richest presidents. His wealth comes from family investments in real estate, banking, hospitality, and farming. The Kenyatta family owns several high-value properties across Kenya, including tracts of land.
5. Cyril Ramaphosa of South Africa
Cyril Ramaphosa, born in Soweto in 1952, is the current President of South Africa. Before entering politics, Ramaphosa was a successful businessman with interests in mining, energy, and telecommunications.
He is estimated to be worth over $450 million, making him one of the richest presidents in Africa. Ramaphosa founded Shanduka Group, an investment holding company with interests in multiple sectors, before selling his stake to focus on his political career. His wealth has allowed him to influence politics and business significantly.
These leaders have built significant wealth through inheritance, investments, or leveraging their positions of power.
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