LIKELY PRACTICAL QUESTION AND ANSWERS FOR JAVA

 

image credit: google

Aliko Dangote, a Nigerian entrepreneur whose fortune has decreased $400 million to $13.5 billion in the last year, has been named Africa's richest person for the 12th year in a row.

South African luxury goods billionaire Johann Rupert comes in second for the second year in a row, despite a $300 million drop to $10.7 billion, with metals and mining magnate Nicky Oppenheimer and his family coming in third with $8.4 billion.

This was included in Forbes Magazine's freshly announced list of Africa's billionaires for 2023.

According to the ranking, Africa's wealthiest people have lost a total of $3.1 billion in the last year.

The continent's 19 billionaires are worth an estimated $81.5 billion, down from $84.9 billion a year earlier, despite the addition of one billionaire.

AFRICA'S TOP TEN WEALTHIEST PEOPLE:

1. Aliko Dangote of Nigeria - $13.5 billion

2. Johann Rupert (South Africa) - $10.7 billion

3. Nicky Oppenheimer (South Africa) - $8.4 billion

Abdulsalmad Rabiu (Nigeria) - $7.6 billion

5. Nasser Sawiris of Egypt - $7.3 billion

Mike Adenuga (Nigeria) - $6.3 billion

Issad Rebrab (Algeria) - $4.6 billion

Naguib Sawiris (Egypt) - $3.3 billion

Patrice Motsepe (South Africa) - $3.2 billion

Mohamed Mansour (Egypt) - $2.9 billion

The 4% drop comes after a 15% increase last year when stock values in the region skyrocketed.

The fortunes of these tycoons declined in lockstep with global equity values, with the S&P All Africa index dropping more than 20% in the first nine months of 2022 before beginning a late-year rally that left the index down only 3% through January 13, the day Forbes locked in stock prices and exchange rates for the list.

Only seven of Africa's 54 countries have billionaires among them.

Methodology

The Forbes list examines the wealth of African billionaires who live or conduct business in Africa, eliminating Sudanese-born billionaire Mo Ibrahim, a U.K. citizen, South African Nathan Kirsh, who works out of London, and another wealthy London resident, Egyptian citizen Mohamed Al-Fayed. Strive Masiyiwa, a Zimbabwean living in London, is on the list because to his telecom interests throughout Africa.

Methodology

The net worths were estimated using stock prices and currency exchange rates as of Friday, January 13, 2023. We begin with estimations of sales or profits and apply current price-to-sale or price-to-earnings ratios for comparable public companies to evaluate privately owned enterprises. Within weeks or days following the measurement date, some list members become richer or poorer.