Black Billionaires 2011

Dr. Mike Adenuga

Forbes magazine has released it's annual ranking for 2011 of the worlds richest people. This year there are 1210 billionaires in the world up from 1011 a year ago. The 2011 Billionaires List breaks two records: total number of listees (1,210) and combined wealth ($4.5 trillion). This beats the previous record of 1,125 set in 2008 by 85.

There are 214 new names on the list this years according to Forbes.com and 108 of those where produced by Brazil, Russia, India and China.

Mexican tycoon Carlo Slim Helu (net worth $74 billion calculated March 2011) remains the wealthiest person on the list for the second year in a row as Bill Gates (net worth $56 billion calculated March 2011) and Warren Buffet (net worth $50 billion calculated March 2011) continue to give away large chunks of their fortune. His fortune grew to an estimated $53.5 billion, up $20.5 billion in 12 months, and $29 billion over the last two years.

Bill Gates, who had held the title of world's richest 14 of the past 16 years, is now worth $56 billion, and is ranked second in the world because he has given away $30 billion to his foundation. He is up $3 billion from a year ago.
Warren Buffett, who ranks third, saw his fortune grow by $3 billion to $50 billion on rising shares of Berkshire Hathaway.

This year there are six black billionaires the same as last year. Mike Adenuga (World's Billionaire Rank #595), is new to our list this year. Canadian Jamaican, Michael Lee-Chin fell off the billionaires list this year but we expect to see him back.

Aliko Dangote (World’s Billionaires Rank #51), net worth is estimated to be $13.8 billion up $11.7 billion from last year. Nigeria's first billionaire and the richest black person in the world, hit the jackpot when his sugar-production company listed on the Nigerian stock exchange last year. Meanwhile,stake in Benue Cement has doubled, helped by demand from China. He became President of the Nigerian Stock Exchange last August. Settled row with businessman Femi Otedola, who fell off the billionaires list this year. Began career as trader at 21 with loan from his uncle; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, haulage and oil and gas. Closely linked to Nigeria's former president Olusegun Obasanjo.

Saudi Arabia's Mohammed Al Amoudi (World’s Billionaires Rank #63), is the second richest black person in the world and in Saudi Arabia, with an estimated networth of $12.3 billion dollars, up from last year by $2.3 billion. Born in Ethiopia to Saudi father and Ethiopian mother, Mr. Al Amoudi made his fortune in construction and real estate before betting on Swedish and Moroccan oil refineries. His Svenska Petroleum conducts oil exploration from the Nordic shelf to the Ivory Coast. Hit jackpot with gold mine in the Oromo region of Ethiopia; it now produces 6 tons of gold annually, set to double production by 2010. He is the largest foreign investor in Sweden and the largest private investor in Ethiopia. His Swedish investments comprise half his fortune. Owns several properties in London and the U.S. Donated more than $1 million to the Clinton Foundation.

Patrice Motsepe (World’s Billionaires Rank #336), who has the honour of being South Africa's first black billionaire has an estimated net worth of $3.3 billion (calculated March 2011), up from $2.3 billion last year. Net worth up this year by $1 billion as a result of rising stock prices. Born in the sprawling black township of Soweto and then trained as a lawyer, Motsepe became the first black partner at Johannesburg's Bowman Gilfillan law firm, before starting a low-level conracting business doing mine scutt work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then, built $875 million (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: precious metals (platinum and its cousins), nickel, chrome, iron, manganese and coal. Benefited from South Africa's Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 6.2% stake in Sanlam, a publicly traded financial services company outside Cape Town.

Oprah Winfrey's (World’s Billionaire Rank #420) net worth is estimated to be $2.7 billion (calculated March 2011) up from $2.4 billion. The queen of daytime television continues to expand her empire, launched her Oprah Winfrey Network (OWN) with Discovery;in January 2011. In addition to her cable channel, Winfrey is overseeing the last season of her syndicated show, her Oprah magazine and Harpo productions. Oprah's Angel Network has raised more than $70 million for international humanitarian causes.
Mike Adenuga (World's Billionaire Rank #595) is Nigeria’s second richest person with a net worth of $2 billion (calculated March 2011). Adenuga debuts on our billionaires list after making waves with mobile technology. His telecoms carrier Globacom recently launched a 4G network, and he's invested $1 billion on a submarine cable connecting Nigeria to the rest of the world. He made his first million at age 26 selling lace and distributing Coca-Cola, then won a contract to build military barracks in the late 1980s.

Mo Ibrahim (World’s Billionaire Rank #692) net worth estimated at $1.8 billion (calculated March 2011). He is a global expert in mobile communications with a distinguished academic and business career. Founder of Celtel International, sold 2005 to MTC Kuwait for $3.4 billion, making it one of Africa's most successful commercial ventures. Dr. Ibrahim personally pocketed $1.4 billion from the sale. The London resident now spends his time on philanthropy and investing in Africa. Created Mo Ibrahim Foundation to award monetary prize to former African heads of state who have shown exemplary leadership in such areas as promoting political freedom; panel of judges decided not to award prize in 2009 or 2010.

SOURCE: Forbes.com

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