Top 10 Richest Presidents in Africa

Top 10 Richest Presidents in Africa 2021

It’s no longer news that African leaders aren’t exactly the most honest folks around. Just look at the number of corruption scandals that have been associated with government leaders on the continent; there’s plenty of them – and none seem to be slowing down either.

Now, this isn’t to say that all African presidents are liars; some just happen to be much richer than others – some have even been accused of looting state coffers for their own benefit. And since we don’t see any sign of these abuses ending anytime soon, let’s simply take an interesting look at the top 10 richest presidents in Africa (in no specific order).

It should come as no surprise that many of these individuals inherited their money while serving as President and they made sure to ensure it stays within their families. It should also come as no surprise that such accusations go back and forth between African presidents when such claims are made.

If you’ve ever wondered what job you could get to make the most money, this article might give you some ideas.

Here is a list of the richest Presidents in Africa in 2021.

10. Idriss Déby ($50 million)

Idriss Déby born on June 18th, 1952 has been the president of Chad since 1990.  He won the presidency in 1990 through a coup to become the 6th president of Chad. He has consecutively won the five other presidential elections that have been held in Chad.

Idriss Déby is worth $50 million according to Celebrity Net Worth.  In 2006, Chad was listed as the world’s most corrupt nation by Forbes Magazine. Chad’s wealth comes from oil but over 10 million of its citizens live below the poverty line.

9. Isaias Afwerki ($100 million)

Isaias Afwerki was born on 1946 February 2nd in Asmara, Eritrea.  He has been in power since 1993 as the president of Eritrea.  His net worth is estimated to be $100 million. His wealth is said to come from compensations as a world leader.

8. Abdel Fattah el-Sisi ($185 million)

The president of Egypt since 2014 is Abdel Fattah el-Sisi. He was among the top 50 powerful people in Forbes List 2018.  The president was born on 1954 November and his net worth is $185 million.  His source of wealth includes inheritance, land assets as well as family success as reported by the Guardian.

7. King Mswati III ($200 million)

King Mswati III is the leader of a monarch that currently rules Swaziland. He is worth $200 million according to Forbes. His wealth comes from his enormous investments.

The 51-year-old monarch owns several vehicles including a Maybach worth $500,000.  He also has a private jet that he received in 2018 as a gift for his birthday as he turned 50. The private jet is worth $17 million. Allegedly, his over 13 wives spent $6million on shopping in summer 2020. The king has however been criticized due to his extravagant lifestyle as the rest of the citizens suffer. Over 40% of the population is also unemployed.

6. Cyril Ramaphosa ($450 million)

Cyril Ramaphosa is the current president of South Africa.  According to Time Magazine Cyril Ramaphosa was among the most influential people in 2021.  According to Forbes Magazine, Cyril Ramaphosa net worth was $450 million in 2015.

He was also number 12 among the richest South African the same year. He is a self-made millionaire. He was the chairman of Shanduka Group that merged with the Pembani Group to form Pan African Industrial Holding Group, with total assets amounting to $900 million. Shanduka own financial institutions, bottling plants among other businesses.

Also Read: Who is the richest man in Africa?

5. Paul Kagame ($500 million)

Paul Kagame, the president of Rwanda was born in October 1957, in Tambwe Ruanda-Urundi. He rose into power in 2000 and has been the president of Rwanda after the resignation of Pasteur Bizimungu.  He is worth $500 million.

According to a report by Financial Times in 2012, Paul Kagame and his family own the majority of investments in Rwanda such as Crystal Ventures.  The company has $500 million worth of assets inclusive of a Bombardier Global Express private jet worth $50 million. Most of his wealth is also hidden offshore under the names of his children. Ivan Kagame is said to have a house in Beverly Hills, California worth 2 million dollars.

4. Uhuru Kenyatta ($500 million)

Uhuru Kenyatta is the current president of Kenya serving his second term as the 4th ruler of the republic. He was born in 1961 October 26th.  His father, Mzee Jomo Kenyatta was the first president of the nation.  Although sources estimate Uhuru Kenyatta’s net worth to be $500 million, he is richer than the Rwandese president.

According to Forbes, his main source of wealth is land. He is the heir of the largest land holdings in the country with over 500,000 acres of land acquired by his father in 1960s. Uhuru Kenyatta and his family members also own popular businesses in the country such as Brookside Dairies, shares in K24 a television station and a commercial bank among others.

3. Teodoro Obiang Nguema Mbasogo ($600 million)

Teodoro Obiang Nguema Mbasogo is the 2nd and incumbent president of Equatorial Guinea. He has been in power since 1979.  He was born on June 5th, in the year 1942.  The country constitution has given him the power to rule through a dictatorship.  As of 2021, his net worth stood at $600 million as per Forbes Magazine.

In 2007, he was investigated on corruption and use of funds fraudulently to finance his luxuries and purchase private mansions.  Teodorin, the eldest son of Obiang and the vice president of the country has been accused by various international countries such as France and the USA for money laundering and purchase of property using stolen funds. The family is said to own Equatorial Guinea’s economy. Corruption, poverty, and abuse of human rights continue to affect the citizens of the country under Teodoro Obiang Nguema Mbasogo leadership.

Also Read: Top 10 Richest Countries in Africa 2021

2. Ali Bongo Ondimba ($1 billion)

Ali Bongo Ondimba is the president of Gabon and among the top richest presidents in Africa. He is worth $1 billion. He has been in power since 2009 October. He is the son of the former president of the county Omar Bongo.  Ali Bongo Ondimba was born on 1959 February 9th.  He owns several properties in foreign nations including a townhouse worth $138 million in Paris.

1. Mohammed VI ($5.8 billion)

Mohammed VI is the richest president in Africa with an estimated net worth of about $5.8 billion. He was born on 1964August 21st. He was number five in the Forbes List of top richest in Africa in 2015.  His wealth emanates from an inheritance from his father King Hassan. He owns 5% of shares in Societe Nationale d’Investissement (SNI) a holding company that has stakes in Atijariwafa, Management Group, and Centrale Danone.

Africa has had some very rich presidents and other political leaders, who have used their position to amass large sums of wealth. While it might not be politically correct to say so, but let’s just go on record to say that corruption exists worldwide, and it affects leaders from all backgrounds.

For instance, here is a quote from the former president of South Africa: “I am making this statement today because I have decided to voluntarily pay back money that was obtained illegally through the arms deal.” This is a confession but it is also a defense mechanism employed by the president to distract public attention from the many acts of corruption that took place during his regime as well as put public opinion in his favor once again.

Of course, there are exceptions, one great example would be Nelson Mandela. He never made any attempt to enrich himself using the power of his office for personal gains.

Top 10 Richest Presidents in Africa 2021:

1. Mohammed VI ($5.8 billion)
2. Ali Bongo Ondimba ($1 billion)
3. Teodoro Obiang Nguema Mbasogo ($600 million)
4. Uhuru Kenyatta ($500 million)
5. Paul Kagame ($500 million)
6. Cyril Ramaphosa ($450 million)
7. King Mswati III ($200 million)
8. Abdel Fattah el-Sisi ($185 million)
9. Isaias Afwerki ($100 million)
10. Idriss Déby ($50 million)