| The collapse in commodity prices and the rise of the African middle class has flipped the fortune trends of the continent's richest people. Commodities tycoons Aliko Dangote and Patrice Motsepe have lost almost $4 billion in 2015, while Nigerian telecom billionaire Mike Adenuga and South African retail mogul Christo Wiese have added almost $2 billion, according to the Bloomberg Billionaires Index.
"The go-go years of African billionaires whose wealth has been built around oil is over," said Martyn Davies, CEO of Johannesburg, South Africa-based investment research firm, Frontier Advisory. "We have placed far too much emphasis on a handful of people making significant capital through distorted-priced resources. True wealth creation is where billionaires are created from non-resource assets."..............................................Full Article: Source
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