Richest King In Africa 2020 Current Net Worth- Royalty is synonymous with wealth and power which is why we beamed our searchlight on the richest kings in Africa currently. Due to the multi-ethnic composition of Africa, there are several thousands of Royal fathers leading their people all across Africa. Some rule over lands that are more blessed than others which have led to such Kings boasting of enormous wealth.
Although the powers of the monarchy have greatly diminished with the rise of the democratic system of government in Africa, some African Kings are still considered the head of the government in their countries. Some of these wealthy kings made their fortune from serving in public corporations. An example is the Obi of Onitsha, a royal father in the Southeastern part of Nigeria. Obi Nnaemeka Achebe serves as the Non-Executive Chairman of a large publicly-listed manufacturer of consumer goods in Nigeria known as Unilever Nigeria.
He also previously served as the Chairman of Diamond Bank, a leading Nigerian commercial bank. Another example is the current Alake (King) of Egbaland in South-Western Nigeria, Oba Adedotun Gbadebo. Oba Gbadebo is the Chairman of Oando, a sizeable Nigerian energy company. Some others accumulated wealth by starting successful enterprises and shrewdly reinvesting their profits into a diverse range of business concerns. Others simply had the fortune of wealth transferred to them by their ancestors. Without much ado, let’s reveal the richest kings in Africa currently.
TOP 5 RICHEST KING IN AFRICA 2020 CURRENT NET WORTH, BIOGRAPHY AND ALL YOU NEED TO KNOW ABOUT THEM
- #1. King Mohammed VI, Morocco
- Estimated net worth: $2 billion
- Source of Wealth: Investments
The Richest King In Africa Currently is none other than His Majesty King Mohammed VI of Morocco. He ascended the throne of his ancestors in July 1999 become the 23rd king of the Alaouite dynasty which began to reign in the middle of the 17th century. Immediately he ascended the throne; he initiated a series of socio-political and economic reforms that improved the economy of the Kingdom and also made the Kingdom freer than it was during the reign of his father. His Majesty King Mohammed VI was born on the 21st of August, 1963, in Rabat. He was Crown Prince under the reign of his father and was enthroned as King of Morocco on the 30th of July, 1999. He married his wife, Her Royal Highness Princess Lalla Salma on the 12th of July, 2002, in Rabat. The union is blessed with two children, His Royal Highness Crown Prince Moulay El Hassan who was born on the 8th of May, 2003 in Rabat and Her Royal Highness, Princess Lalla Khadija whose birth occurred on the 28th of February, 2007, also in Rabat. At the age of 4, King Mohammed VI was enrolled at the Koranic School of the Royal Palace by his father. He had his Primary and Secondary education at Royal College, Baccalaureate and graduated in June 1981. He then proceeded to the University Mohammed V of Judicial, economic and social sciences in Rabat for his higher education in Law. He defended his B.A thesis in 1985. In 1987, he got his First Certificate of large studies in political sciences and followed with a Second Certificate in Public Law, in July 1988, both of them with honor. He also received the title of Doctor in law from the University of Nice-Antipolis in France on the 29th of October 29th, 1993 as well as an Honoris Causa Doctorate from the University of George Washington on the 22nd of June, 2000. He writes and speaks the following languages: Arabic, French, Spanish, and English. He is an avid sports lover. The wealth of the King of Morocco stems from his control of Société Nationale d'Investissement (SNI), a large Moroccan investment holding company that has assets valued at over $10 billion. Also, the King of Morocco owns a substantial amount of the world’s phosphate reserves.
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- #2. Oba Obateru Akinrutan, Ugbo Land, Nigeria
- Estimated net worth: $300 million
- Source: Oil
The second Richest King In Africa Currently is the Olugbo (King) of Ugbo land, Oba Obateru Akinrutan. His domain, Ugbo is a small oil-rich community in Ilaje area of Ondo state, Southwestern Nigeria. He is the richest King in Nigeria currently. He was born in the year 1950 and ascended the throne of his ancestors in 2009. The source of his wealth is from Oil. He founded Obat Oil in the year 1981 with a single gas station to meet the immediate needs of his family and neighboring community. Today, Obat Oil is one of the largest privately owned oil trading companies in Nigeria, owning over 50 gas stations as well as one of the largest tank farms in all of Africa. Oba Akinrutan is also a lover of real estate as he owns an extensive portfolio of prime commercial and residential real estate in Nigeria and also in London. He is the proud owner of the landmark Febson Hotels and Mall located in the Central Business District of Abuja.
- King Mswati III, Swaziland
- Estimated net worth: At least $50 million
- Source: Investments
Rounding up the top three is the King of Swaziland, King Mswati III. He holds the title of the third Richest King In Africa currently. He was born as Prince Makhosetive on the 19th of April 1968. His father was King King Mona Nkhotfotjeni Sobhuza II, and his mother is Ntfombi Tfwala. He is the only child of his mother. He had his primary education at Masundvwini Primary School, and his secondary education was at Lozitha Palace School. He was at Sherborne School in North-west Dorset, England from1983 to 1986. He ascended the throne of his forefathers and was crowned as Mswati III, Ingwenyama and King of Swaziland, on the 25th of April, 1986 at the age of 18. He became the youngest ruling monarch in the world at that time and ruled the country as an absolute monarch, the last in Africa. He is a well-known polygamist and currently has 15 wives. His net worth is said to be at least $50 million, based on the annual $50 million salaries that he earns from government coffers. He is also in control of Tibiyo TakaNgwane, an investment holding company with assets worth over $140 million, but he only holds it in trust for the entire people of Swaziland. Recently, Mswati renamed Swaziland to the Kingdom of eSwatini. The King has received criticism from his people due to his lavish lifestyle as more than 65% of Swaziland’s population live on less than $1.25 a day, while unemployment rates in the country are as high as 40%.
- #4. King Goodwill Zwelithini Kabhekuzulu, South Africa
- Estimated Net Worth: $19 Million
- Source of Wealth: Unknown
King Goodwill Kabhekuzulu, the ruler of the Zulu people of South Africa, is the next king in this list. The Zulus constitute the largest ethnic group in South Africa. The Zulu monarch receives a yearly allowance of $6 million to fend for his royal household. Apart from his yearly salary, King Kabhekuzulu also receives lots of grants as well as luxuries such as private flight travels which he enjoys regularly. Interestingly, the king enjoys these luxuries because the charges are usually deducted from the revenues generated from tax collection in South Africa. His current net worth of $19 million makes him the 4th richest King in Africa. King Goodwill Kabhekuzulu has an array of expensive cars which further emphasize his wealth.
- #5. Otumfuo Osei Tutu II, Ashanti, Ghana
- Estimated net worth: $14 million
- Source: Mining Equipment, Property, Jewelry
The fifth Richest Royal father in Africa is Otumfuo Osei Tutu II, the King of Ghana's gold-rich Ashanti kingdom and home to the largest ethnic group in the country, the Asantes. The Royal father ascended the throne in the year 1999 and served as the political as well as spiritual head of the Asante people. Osei Tutu set up Transpomech Ghana in the year 1989, a $12 million (sales) company that supplies mining equipment to several large industrial companies in Ghana. He is also known to own several real estate properties in Ghana and South Africa as well as a collection of highly valuable gold crown jewels.
Conclusion On Top 5 Richest King In Africa 2020 Current Net Worth, Biography And All You Need To Know About Them
In this article, we have looked at some of the Richest Kings on the African continent. It is important to point out that there are several other wealthy Kings in Africa, but due to a lack of available information on their assets, we cannot include them on this list. When more African Kings have their assets valued, and a figure is attached to their net worth, we will update this list.
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