- Mike Adenuga
Wealth loss in 2022: US$1.1 billion
Net worth: US$5.6 billion
Mike Adenuga, a Nigerian telecom billionaire and oil mogul, saw his net worth plummet by more than a billion dollars in 2022 as the valuation of his privately held businesses plummeted.
The billionaire businessman, who derives the majority of his fortune from his privately held telecom company, Globacom Limited, as well as his investments in the Nigerian oil industry through Conoil Producing and Conpetro Limited, saw his net worth fall by US$1.1 billion in 2022, from US$6.7 billion to US$5.6 billion at the start of the year.
- Johann Rupert
Wealth loss in 2022: US$1.03 billion
Net worth: US$10.9 billion
Johann Rupert, South Africa’s richest man, and Africa’s second-wealthiest businessman saw his net worth fall by US$1.03 billion in 2022, owing to a drop in the market capitalization of his Swiss luxury goods holding company, Compagnie Financiere Richemont (Richemont).
According to Bloomberg Billionaires Index, Rupert’s net worth fell by US$1.03 billion in 2022, from US$11.9 billion at the start of 2022 to US$10.9 billion.
- Natie Kirsh
Wealth loss in 2022: US$821 million
Net worth: US$7.45 billion
Nathaniel “Natie” Kirsh, the richest man in Eswatini (formerly Swaziland), saw his net worth fall by US$821 million in 2022, falling from US$8.27 billion at the start of 2022 to US$7.45 billion.
The decline in his net worth can be attributed to the decline in the market value of his portfolio investments through Kirsh Group, a closely held conglomerate that owns a majority stake in Jetro Holdings, a food supply company.
- Aliko Dangote
Wealth loss in 2022: US$393 million
Net worth: US$18.7 billion
Aliko Dangote, Africa’s richest man, saw his net worth fall by US$393 million in 2022, from US$19.1 billion to US$18.7 billion.
Dangote, who ranks as the world’s richest black person, derives the majority of his fortune from an 86 percent stake in Dangote Cement, which is currently worth US$8.64 billion.
The decline in the market value of his flagship company, Dangote Cement, Africa’s largest cement company, is to blame for the multimillion-dollar drop in his net worth.
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