#8 Mohammed Al Amoudi
Net worth: US$5.72 billion
Nationality: Ethiopian
Mohammed Al-Amoudi, Ethiopia’s richest man, saw his net worth plummet by nearly US$1 billion in the first half of 2022, as the market value of his industrial assets, which include prestigious Swedish oil companies, plummeted significantly during the period, closely mirroring the drop in European stocks.
Al-Amoudi, a leading billionaire who was the wealthiest Black person in the world until he was dethroned by Nigerian cement tycoon Aliko Dangote in 2013, derives the majority of his net worth from a variety of industrial assets in Sweden, Saudi Arabia, and Ethiopia.
According to Bloomberg, his net worth dropped by US$982 million in the first half of 2022, from US$6.71 billion at the start of the year to US$5.73 billion on June 30.
#9 Issad Rebrab
Net worth: US$5.1 billion
Nationality: Algerian
Despite maintaining his wealth figures in the first half of 2022, as well as his position as Africa’s ninth richest man and Algeria’s richest man, Issad Rebrab’s net worth has risen to $5.1 billion in recent years, thanks to the valuation of his well-diversified manufacturing conglomerate Cevital, which has improved significantly due to increased capacity and robust earnings growth.
Rebrab, who retired from Cevital, Algeria’s largest private conglomerate, on June 30, derives the majority of his US$5.1-billion fortune to Cevital.
His net worth has increased from US$4.2 billion in 2020 to US$5.1 billion at the time of writing this report, representing a total net worth gain of US$900 million for the Algerian billionaire.
#10 Naguib Sawiris
Net worth: US$3.4 billion
Nationality: Egyptian
Naguib Sawiris, the elder brother of Egypt’s richest man Nassef Sawiris, is the second-wealthiest man in Egypt and the tenth-richest man in Africa, with a fortune of US$3.4 billion.
The billionaire amassed his fortune after selling Orascom Telecom to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction in 2011.
He is presently a shareholder in Orascom TMT Investments and Ora Developers, a real estate developer.- Billionaires.Africa
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