Femi Otedola, Nigerian billionaire businessman has been tagged as Africa’s “poorest billionaire” in the latest ranking released by Forbes sparking reactions from Nigerians on social media.
In a recent report, the publication revealed that the combined fortune of Africa’s 23 billionaires rose to about $126.7 billion, largely driven by a strong rally in regional equity markets.
Despite the general surge in wealth, the report maintained that Otedola and Moroccan businessman Anas Sefrioui are tied at the bottom of the list with a net worth of $1.3 billion, making them the “poorest” among Africa’s billionaires.
Forbes reported that Otedola lost about $200 million after selling much of his stake in Geregu Power Plc for less than its market value.
The report found that 14 out of 23 billionaires on the list are self-made. This means they earned their wealth on their own instead of inheriting it.
The report also pointed out a demographic gap among Africa’s richest people. There are no female billionaires on the continent right now, and most of those on the list are over 60 years old.
The youngest billionaire on the list is Mohammed Dewji from Tanzania, who is 50 years old.
Looking at countries, South Africa has the most billionaires with seven. Egypt follows with five, Nigeria has four, and Morocco has three.
Meanwhile, Nigerian industrialist Aliko Dangote retained his position as Africa’s richest person with an estimated net worth of $28.5 billion. His wealth increased by about $4.6 billion over the past year, after Dangote Cement’s shares surged by nearly 69 per cent.
The report has caused a stir amongst Nigerians on social media. Below are some of the reactions culled by eelive.ng;
How Nigerians Reacted:
One user wrote: ”Using the word poor against the word billionaire is diabolic.”
Another added: ”Poor Billionaire. What an Oxymoron.”
One added: ”No such thing as poor billionaire, Forbes be tripping for no reason.”
One commented: “Oxymoron, na here we go know who go school.”
“Poorest billionaire still better than Richest pauper,” one remarked.
One added: “He’s still a billionaire. Needs no validation. The End.”
Another added: “In the words of a famous philosopher, inside Evian, another Evian Dey inside.”
“Oh lord i just want to be poor like Otedola lol,” One commeted