Forbes has released its annual list of the world’s billionaires for 2023, and it came with a few surprises.
The list, which was released on Tuesday, April 4th, features 2,460 individuals globally, with a collective net worth of $10.2 trillion.
This year’s list is particularly noteworthy since the last year has been a tumultuous one for many of the world’s wealthiest people.
The 25 richest people in the world have a combined net worth of $2.1 trillion, down $200 billion from last year. Bernard Arnault, the luxury goods tycoon, had the biggest gain in net worth, surging by $53 billion to reach a net worth of $211 billion.
This gain propelled him to the number one spot on the list, surpassing Elon Musk, who slipped to second place after his net worth fell by $39 billion due to his purchase of the social messaging app, Twitter.
One of the most surprising changes on the list was the rise of Abdul Samad Rabiu, the chairman of BUA Group.
Forbes notes that Rabiu’s net worth has grown rapidly in recent years, from $1.6 billion in 2019 to $6.9 billion in 2022, and now to $8.2 billion in April 2023.
He is now ranked as the 249th richest person in the world and is closing in on overtaking the third richest man in Africa, Nicky Oppenheimer, who has a net worth of $8.4 billion.
Rabiu’s rise is attributed to his investments in cement, sugar, and real estate, as well as his plans to build sub-Saharan Africa’s second-largest refinery and petrochemicals plant in Akwa Ibom, Nigeria.
Meanwhile, Aliko Dangote has retained his position as the wealthiest person of African descent in the world, with a net worth of $14.2 billion.
He is the largest cement producer in Africa and also has investments in other areas of manufacturing, sugar, and pastries. Mike Adenuga, the third Nigerian on the African billionaires’ list, saw his net worth fall from $7.3 billion in 2022 to $6.1 billion this year. He is currently ranked as the 418th richest person in the world at 58 years old.
There was also a surprise addition to the list in the form of 90-year-old Nathan Kirsh, who is from the tiny African country of Swaziland. Kirsh, who is believed to be into real estate, retail, and fashion, is now worth $6.5 billion, making him the 6th ranked African billionaire and placing him above Mike Adenuga on the list. It is the first time he has been featured as an African billionaire.
According to Forbes, their methodology involves using stock prices and exchange rates from March 10, 2023, to calculate net worth. The magazine values a variety of assets, including private companies, real estate, and art. The list only features individuals and not multigenerational families who share fortunes, although it does include wealth belonging to a billionaire’s spouse and children if that person is the founder of the fortune.
