Africa is the second largest continent in the world. It is also world’s second most populous continent. Ironically, Africa is regarded as the poorest continent. Furthermore, most of Africa’s political leaders and their families are very rich. They make their wealth from natural resources of these nations through the creation of companies under the names of their families. Here is a brief overview of the richest African presidents according to Africa Cradle investigate journalism and research team.
The South African politician has an estimated net worth of $215 million. He owes his fortune to smart stock investments, substantial property holdings, lucrative endorsement deals with CoverGirl cosmetics. He also owns several restaurants (the “Fat Zuma Burger” chain) in Pretoria, a Football Team (the “Nkandla Angels”), has launched his own brand of Vodka (Pure Wonderzuma – South Africa), and is tackling the juniors market with a top-selling perfume (With Love from Jacob) and a fashion line called “Jacob Zuma Seduction”.
The ranking is significant for many Jacob fans, who have been waiting for his triumphant return to the glory days for what seems like a lifetime.
Robert Mugabe – Net Worth: $100 Million
Robert Mugabe is the President of Zimbabwe. His net worth is estimated to be around $100 million. The dictator’s family is very wealthy. Mugabe spend $5 million on the wedding of his daughter Bona Mugabe, who married Simba Chikore in 2014. His net worth could however in the billions since the discovery of diamonds in Zimbabwe. Mugabe recently announced that $15 billion in diamond revenue was missing. How could such an amount just go missing without his knowledge? Mugabe has won many elections, although frequently these have been criticized by outsiders for violating various electoral procedures.
Idriss Deby – Net Worth: $50 Million
Idriss Deby has been the President of Chad since 1990. His net worth is estimated to be $50 million. Towards the end of August 2006, he made international news after calling for his nation to have 60 percent stake in its output after receiving crumbs from foreign companies running the industry.
Paul Biya – Net Worth: $200 Million
Paul Biya has been the President of Cameroon since November 6 1982. His estimated net worth is around $200 million; this figure was published by the Foreign Policy.com. Around 48 percent of the citizens of Cameroon live below the poverty line. Catholic Committee against Hunger and for Development (CCFD) and several on-and-offline media has placed him in the list of leaders with ill-gotten wealth. In 2009, French online newspaper, Rue 89, reported the Cameroon President’s vacation was the top most expensive among world leaders. More than that of the American President. He was criticized for spending 30,000 euros ($40,000) per day on renting a villa
King Mswati III – Net Worth: $100 Million
Country: Swaziland, Years in the 15th richest royal in the world, according to Forbes Magazine. Mswati III is the King of Swaziland. He is worth more than $100 million; down $100 million of his 2012 ($200 million) fortune. The King has often been criticized for his lavish spending. In 2009 summer, several of his 13 wives reportedly spent over $6 million in a shopping spree. In the 2014 budget, parliament allocated $61 million for the King’s annual household budget, while 63 percent of Swazis live on less than $1.25 per day. His luxury car collection include a $500,000 Daimler Chrysler’s flagship Maybach 62. And has banned the photography of his cars.
Uhuru Kenyatta – Net Worth: $500 Million
Uhuru Muigai Kenyatta is the President of Kenya and the son of Kenya’s first President, Jomo Kenyatta. In 2011, Forbes estimated his net worth at $500 million. Most of his wealth comes from property. With his family, the President owns stakes in Kenya’s largest dairy company Brookside Dairies, media company Mediamax, Heritage Hotels, Commercial Bank of Africa and hundreds of thousands of prime Kenyan land. He is regarded as man of the people due to his sociability. During his inaugural speech, he promised economic transformation through Vision 2030, free maternal care and unity among all Kenyans.
Teodoro Obiang Nguema Mbasogo – $600 Million
Teodoro Obiang Nguema Mbasogo is the President of Equatorial Guinea. He came to power in August 1979 by ousting his uncle Francisco Macias Nguema in a military coup. He has overseen the emergence of the nation as an important oil producer, beginning in 1990s. This President and his family literally own the economy, his personal fortune exceed $600 million, according to Forbes Magazine. In October 2011, the United States government seized $70 million assets of his son, Teodoro Nguema Obiang Mangue. Though Equatorial Guinea is Africa’s second richest nation, majority of the population actually live under the poverty line.
Mohammed VI of Morocco – Net Worth: $2.5 Billion
Mohammed VI is the current King of Morocco. He is also the country’s leading businessman. He is worth more than $2.5 billion, according to Forbes. The King ascended to the throne following his father’s death in 1999 and he immediately set about improving upon his appalling human rights record and alleviating poverty.
Jose Eduardo dos Santos – Net Worth: $20 Billion
Jose Eduardo dos Santos is the President of Angola. He has held on to this post since 1979. His personal estimated wealth exceed more than $20 billion, according to Cabinda Online. While around 70 percent of Angolans live on less than two dollars a day. His daughter, Isabel dos Santos is among the Forbes Africa’s billionaires with a net worth of $3.8 billion. She’s currently Africa’s richest woman and also the world’s richest black woman.