Monday, March 31, 2008

Aliko Dangote and Patrice Motsepe make Forbe's Billionaire List



Having someone of African descent making the Forbes Billionaires list is nothing novel anymore. Over the years media mogul Oprah Winfrey has reigned supreme for three years. Other African-American billionaires according to the Forbes list included BET founder, Bob Johnson.

However, it is indeed a novelty and well worth sharing when not one, but two black Africans make the list. The richest black billionaire is now listed as Aliko Dangote of Nigeria. Dangote’s net worth is believed to be at least US$3.3 billion.

There is debate as to whether or not Dangote is in fact Nigeria’s first black billionaire as that honor may well belong now deceased former dictator, Sani Abacha. Nonetheless, Dangote is the first black Nigerian billionaire on record. Dangote built his empire after acquiring a loan from his uncle over 25 years ago. With this capital he built the Dangote Group. His income comes primarily from investment in sugar production, pasta and cement.

South Africa on the other hand has no shortage of billionaires, but 46-year old Patrice Motsepe is the first black South African to become a billionaire. Motsepe who is a self-made billionaire who made his wealth from buying gold mines that were performing below par. He then turned them into profitable enterprises by employment of stringent management practices. His current net worth is set at US$2.4 billion.

Motsepe is also a lawyer by training and is believed to have made good use of the post-Apartheid Black Economic Empowerment laws. Under these laws, all mining entities had to be at least 25 percent owned by blacks.

Of the current 1062 billionaires listed so far for 2008, Dangote and Motsepe are not doing badly at number 334 and 503 respectively.

-Jessica McCurdy Crooks

5 comments:

qishaya said...

abercrombiefitch.uk.com propose Concise design model, whether it is Abercrombie fitch or a shirt, jacket is a good array oh.Ultra-Zan’s pants manner. buy Abercrombie Make up your body a little less than the curve.Abercrombie sale Easily with any clothing, different shoes and boots with different styles. Both kind, genial comfort, you can also cool very special Abercrombie .Designed to highlight hurtful the chest, waist and hip, quite close, sexy extraordinary.Companies consider the use of at least 4 time in-gravity Japanese market. Ginza stockroom Abercrombie & FitchAbercrombie Sweaters may be the most costly ever built one of the flagship storeroom, flagship stockpile in cheap Abercrombie compared to superior construction expenses for 1800-2000 million. The circle spokesman said in Tokyo supplies opened for the Abercrombie & Fitch's worldwide growth policy in provisos of a very important measure. Ginza supply is the circle's first mass in Asia, the business campaign to open next year in Fukuoka, Japan, out of a moment Asian restaurant. However, abercrombie stores the spokeswoman did not disclose more shop list.present high level and high assess clothing for youngsters. The food extended of Abercrombie and Fitch embrace not only casual wears,breitling watches, shirts and dresses for the youngsters but it also includes luxury matter such as perfumes and discount Abercrombie accessories. The new limit of yield from Abercrombie and Fitch has superb designs for kids and teenagers. The strain is also recognized for its advertisements,model watches, where you have physically attractivpoorly clad men and women, who begin vigorous, abercrombie outlet enthusiastic, smart and outgoing.Abercrombie 2010

leader said...

In most cases, thomas sabo charms buildings insurance covers the sourcing cost of rebuilding or thomas sabo restoring your properties structure in a case where it is destroyed by an event paid for thomas sabo bracelets by your home insurance plan, whilst contents insurance protects the price of replacing specified things. cheap thomas sabo watches Families are often demanded to order home insurance as a general condition of obtaining their mortgage, thpmas sabo although, they may be under no obligation to buy it using their mortgage service provider.

techos decorativos said...

There's no doubt, the dude is absolutely right.

China travel service said...

Congratulations for this wonderful reading article. I found it very informative and interesting too, I think you are a brilliant writer. I have bookmarked your blog and will return in the future. I want to encourage you to continue that marvelous work, have a great daytime!I am a china tour lover,You can learn more: Beijing tour| Lhasa Tour | Beijing tour packages

Learn Mandarin Chinese said...

The best place to study mandarin online is in China. However, we understand that it isn't always possible to move here to study Chinese language. The next best thing is to study with our experienced teachers in a virtual classroom. Online students enjoy the same excellent way of mandarin online lesson and custom designed courseware that we provide for our face to face clients.