Africa is now home to 55 billionaires, up from previous estimates of 16-25 billionaires, new research has found. These super rich are worth a combined total of $143.88bn (£89.27bn).
The UK, in contrast, is home to 84 billionaires, worth a nearly £250bn, according to the 2013 Sunday Times Rich List.
With 55 billionaires, Africa is comparable to Latin America, which has 51 at last count (Forbes). However, Africa has some way to go if it’s to top the super-rich tally in Asia, which is home to 399 billionaires as of 2013.
The new study, undertaken by African business magazine and news service Ventures Africa, is the most extensive list ever compiled, claims founder Chi-Chi Okonjo. It reveals the “true wealth” of Africa’s richest people, he said.