True Winners And False Losers In The Forbes 2020 Billionaire Rankings

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In the 2020 Forbes magazine’s ranking of Africa’s billionaires, Aliko Dangote ($10.1bn) remains number one. Overall, two big winners stand out, while several others see their fortunes — and rankings — seriously reduced.

The cumulative fortune of the continent’s billionaires, according to the latest Forbes ranking published on 17 January, represents $73.7bn. This is up from $68.7bn recorded a year ago. The growth is attributed mainly to the rise in share prices over the past year.

Although his wealth dropped slightly — down to $10.1bn from $10.3bn last year — Aliko Dangote stays on top as the richest person in Africa, a position he has held for the last nine years. The Nigerian tycoon, on the verge of multiplying his income fivefold by 2021, saw his wealth blunted by the drop in shares in Dangote Cement. The 62-year-old billionaire’s wealth was estimated at the same level in 2011, the first year in which he ranked among the richest in Africa but had more than doubled by 2014.

Next in line are Egypt’s Nassef Sawiris, with $8bn (up by $1.7bn from 2019) and telecom magnate Mike Adenuga, with $7.7bn (down by $1.5bn and by one place in the rankings from the previous year). In all, eight of the 20 billionaires saw their fortunes grow or fall by at least $700m.

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Rabiu’s momentum continues slowly but surely

Nassef Sawiris may not have made number 1, but he’s the big winner in this year’s standings, up two places from 2019. This is the first time the Egyptian, brother of Naguib (in ninth place with $3bn), has won the silver medal in the ranking. Nassef Sawiris’ most profitable asset is a 5.7% stake in the Adidas sports brand, valued at just over $4bn. The increase in Adidas’ share price alone has added nearly $1.5bn to his fortunes since January 2019. Sawiris is mainly active in the construction and chemical sectors and has a significant stake in fertilizer producer Orascom Construction Industries (OCI NV), the construction division of Orascom, founded by his father, Onsi Sawiris.

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Another big winner in the Forbes ranking is Nigerian Abdul Samad Rabiu, head of the conglomerate BUA Group (cement, sugar). Having made a comeback last year at $1.6bn, this year he weighs in at $3.1bn and moves up to eighth in the rankings.

Masiyiwa, big loser of the year

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Zimbabwe’s only billionaire, Strive Masiyiwa, who built his fortune in telecoms, holds a stake in two local companies listed on the stock exchange. Zimbabwe’s decision in June 2019 to ban all foreign currencies and to use only the Zimbabwean dollar, however, accelerated inflation, causing the value of the newly established dollar to fall. For Masiyiwa, this meant a drop in his Econet Wireless Zimbabwe and Cassava Smartech holdings in US dollars. His fortunes fell to $1.1bn from $2.3bn a year ago.

Rebrab hit but not sunk

Cevital CEO Issad Rebrab, despite some shaky political dealings in 2019 and his imprisonment for eight months in connection with investigations opened against several Algerian businessmen linked to former President Abdelaziz Bouteflika, managed to remain in sixth place, with some $4.4bn. The Algerian boss saw his fortune reduced by $700m compared to 2019.

Will the other billionaire in the ranking, also the target of various lawsuits, Isabel dos Santos follow the same route? One of only two women in the rankings, alongside the Nigerian Folorunsho Alakija (20th; $1bn), the daughter of former president Jose Eduardo dos Santos, is ranked 13th with a fortune worth $2.2bn. In 2019, she was tied for 8th place with $2.3 billion.

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True Winners And False Losers In The Forbes 2020 Billionaire Rankings - Brand SpurTrue Winners And False Losers In The Forbes 2020 Billionaire Rankings - Brand Spur

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True Winners And False Losers In The Forbes 2020 Billionaire Rankings - Brand SpurTrue Winners And False Losers In The Forbes 2020 Billionaire Rankings - Brand Spur

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HONG KONG SAR - Media OutReach - 21 April 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, excelled in the latest ATT&CK Evaluation performed by MITRE Engenuity. The Trend Micro Vision OneTM platform quickly detected 96% of attack steps from the simulation that mimicked the behavior of two infamous APT groups.

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Its performance against techniques used by two of the world's most formidable cybercrime enterprises proves its value in threat detection and response, and ability to optimize cyber-risk reduction for customers.

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About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk


About MITRE Engenuity ATT&CK Evaluations

MITRE Engenuity ATT&CK Evaluations are paid for by vendors and are intended to help vendors and end-users better understand their product's capabilities in relation to MITRE's publicly accessible ATT&CK® framework. MITRE developed and maintains the ATT&CK knowledge base, which is based on real world reporting of adversary tactics and techniques. ATT&CK is freely available, and is widely used by defenders in industry and government to find gaps in visibility, defensive tools, and processes as they evaluate and select options to improve their network defense. MITRE Engenuity makes the methodology and resulting data publicly available so other organizations may benefit and conduct their own analysis and interpretation. The evaluations do not provide scores, ranks, or endorsements.


True Winners And False Losers In The Forbes 2020 Billionaire Rankings - Brand Spur
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