Saudi-Ethiopian billionaire Mohammed Al-Amoudiis no longer the richest Black person in the world. He has been ousted by Nigerian cement tycoon Aliko Dangote, who is worth an estimated $16.1 billion. That’s $2.6 billion richer than Al-Amoudi.
Of the 1,426 people who made it to the 2013 FORBES list of the World’s Billionaires, only 7 are Black. These are the 7 who made the cut:
Aliko Dangote, $16.1 billion
Nigerian. Sugar, Cement, Flour
The fortune of Africa’s richest man is up $4.9 billion this year, cementing his position as the world’s richest Black person. Last October, Dangote sold off his controlling stake in his flour milling company to Tiger Brands, one of South Africa’s largest consumer goods companies. He pocketed $190 million from the sale. Dangote began building his fortune more than three decades ago when he started trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle. He became a billionaire by venturing into the production of these items in the early 2000s. His eponymous Dangote Group owns sugar refineries, salt processing facilities and Dangote Cement, the continent’s largest cement producer.
Mohammed Al-Amoudi, $13.5 billion
Saudi Arabian. Oil Refineries, Mining
Mohammed Al-Amoudi, the son of a Saudi father and Ethiopian mother, made his initial fortune by cornering lucrative construction contracts in Saudi Arabia. He now sits atop Midroc Group, a sprawling conglomerate that owns oil refineries in Morocco and Sweden and oil fields off West Africa. In Ethiopia, his holdings include a 70% stake in the National Oil Company as well as hotels and gold mines.