There are many African rulers whose net worth are not even known to them. Many of such rulers got so wealthy through illegal means and so, they “hide” it from public’s the all-seeing eye. But on this list, we have African Kings who are also businessmen and do more than reign and rule as kings. See the top four below:
1. King Mohammed VI, Morocco
Estimated net worth: $2.1 billion
The richest African king is King Mohammed VI of Morocco. He succeeded his father King Ha$$an II as 27th king of the Alaouite dynasty in July 1999. He derives his fortune from his control of Société Nationale d’Investissement (SNI), a large Moroccan investment holding company with a$$ets valued at more than $10 billion. The King also owns a substantial chunk of the world’s phosphate reserves.
2. Oba Obateru Akinrutan, Ugbo Land, Nigeria
Estimated net worth: $300 million
In a small oil-rich community in Ondo state called Ugbo land, there lives the second richest African king named Oba Obateru Akinrutan. Oba Akinrutan, who ascended the throne in 2009, is also the founder of Obat Oil, one of Nigeria’s largest privately-held oil trading companies. He founded the company in 1981 with a single gas station to meet the needs of his family and neighboring community. OBAT Oil now owns more than 50 gas stations across Nigeria as well as one of the largest tank farms in Africa with a storage capacity of 65 million liters of petroleum products. He also owns an extensive portfolio of prime commercial and residential real estate in London and Nigeria, including the landmark Febson Hotels and Mall in the Central Business District of Abuja.
3. King Mswati III, Swaziland
Estimated Net Worth: $100 million
Though more than 65% of the Swaziland’s population earns less than $1.25 and unemployment rates are as high as 40%, the King remains unaffected. His personal net worth dropped from $200 million in 2012 to $100 million in 2014. He also controls Tibiyo Taka Ngwane, an investment holding company with a$$ets worth over $140 million, but he holds it in trust for the people of Swaziland. He has 15 wives, each living in her own house, and 13 palaces.
4. Otumfuo Osei Tutu II, Ashanti, Ghana
Estimated net worth: $10 million
Source: Mining Equipment, Property, Jewelry
Otumfuo Osei Tutu II is the King of Ghana’s gold-rich Ashanti kingdom, home to the country’s largest ethnic group, the Asantes. He ascended the throne in 1999 and serves as the political and spiritual head of the Asante people. In 1989, he set up Transpomech Ghana, a $12 million (sales) company that provides mining equipment to several large industrial companies in Ghana. The King also owns extensive real estate in Ghana and South Africa as well as a collection of valuable gold crown jewels.