Real Estate news – Africa’s Self made Billionaires

According to, the richest black African is 63 year old Mohammed Al Amoudi, net worth $9B. Al Amoudi was born in Ethiopia and now a Saudi citizen. He built his fortune in construction and real estate in Saudi Arabia before betting on energy. Began investing in Sweden in 1974.

Al Amoudi displaced 51 year old Nigerian Aliko Dangote, net worth $2.5B, from the top slot; a position Aliko held in 2008. Dangote began career as trader at age 21 with loan from his uncle; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.

At #3 and 4 are Patrice Motsepe (South African), net worth $1.3B, and Femi Otedola, net worth $1.2B, respectively. All men, except Femi Otedola, were listed on the Forbes billionaire list last year.

Patrice Motsepe, age 47, is a Johannesburg mining magnate, and South Africa's first black billionaire. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work

Femi Otedola, age 42, used his majority stake in African Petroleum to get himself appointed its chief executive last year. Now he plans to merge it with his private firm, Zenon, to create the continent's largest oil company.

All these men are self-made entrepreneurs who made their fortunes in the real estate, oil and gas, mining and manufacturing.

Al Amoudi is #43, Dangote #261, Motsepe #559, and Otedola #601, in the global billionaire ranking.

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