2018 has been a harsh environment for Africa’s economy. It can be seen in The Forbes’ richest American list. There are four African billionaires who fell from the rankings and are removed from the list. It is not a surprising thing because Africa saw some of the harshest declines of shares and the devaluation of its currencies. Most of the assets of the richest people in Africa has shrunk in the past year, which made them fell or retained their position in Forbes’ list, except Angola’s most influential businesswoman, Isabel Dos Santos.
There are only two women in the Forbes’ Billionaires list, and one of them is Isabel Dos Santos. Her net worth was also down from $2.7 billion to $2.3 billion (€2.3 billion to €2 billion). This is due to the drop of the stock value from the companies that she handles, which are Galp, Nos, and Unitel (in which she owns 25% of the shares). However, even after the decline of stock prices, as well as the devaluation of the African currencies, her place in the Forbes’ Billionaire list went up from 9th place in 2017 to 8th place in 2018. The other woman in the list is Folorunsho Alakijada, which has a net worth of $1.1 billion or €95 million. Isabel Dos Santos also has the lowest decline in net worth, with only $0.4 billion declines.
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According to the list, the richest person in Africa right now is Aliko Dangote from Nigeria and is the one who held the title for eight consecutive years. His net worth was down from $10.3 billion to $8.9 billion, which is one of the biggest declines in the list. All in all, the value of all net worth in the list is $68.7 billion, which is 8.88% down. We will see who will go down and who will go up in the list once again next year.
Isabel Dos Santos is a known investor and entrepreneur in the area of communications, constructions, finance, and media production. She established herself as an entrepreneur in 20 years and has been helping her country by integrating technology. She is also the daughter of the former Angolan president Jose Eduardo Dos Santos.