Do you know who the richest king in Africa is? And do you know which of Nigerian kings are on the list of the richest Africa’s kings? Read the article to find out!
Recently Forbes, a world-wide known business magazine, has released a list of the richest Kings in Africa and it also includes two monarchs from Nigeria.
King Mohammed VI
This king from Morocco is on the first place of Forbes’ list. He derived his fortune from his control of Société Nationale d’Investissement (SNI), a large Moroccan investment holding company with assets valued at more than $10 billion.
Born in 1963, he ascended to the throne on 23 July 1999 after the death of his father, King Hassan II. Shortly after he took the throne, Mohammed VI addressed his nation via television, promising to take on poverty and corruption, while creating jobs and improving Morocco's human rights record.
Mohammed VI is Morocco's leading businessman and banker. He is also a leading agricultural producer and land owner in Morocco, where agriculture is exempted from taxes. His holding company "Siger" has shares in the large agricultural group "Les domaines agricoles, which was founded by Hassan II.
The official style of the King is "His Majesty the King Mohammed the Sixth, Commander of the Faithful, may God grant him victory".
His current net worth is $ 5.7 Billion.
As we said earlier, two Nigerian kings are also in this list. Let’s take a look at them also.
Oba Obateru Akinrutan
Oba Obateru Akinrutan is the Olugbo (traditional King) of Ugbo land, a small oil-rich community in Ondo state, in Nigeria’s southwestern region. He ascended the throne in 2009 and he is a co-founder of Obat Oil, one of Nigeria’s largest privately-held oil trading companies.
The company was founded in 1981 with a single gas station to meet the needs of his family and neighboring community. It now owns more than 50 gas stations across Nigeria as well as one of the largest tank farms in Africa.
His net worth is $ 300 Million.
Oba Okunade Sijuwade
Alayeluwa Oba Okunade Sijuwade, Olubuse II, is the traditional King (Ọọ̀ni) of Ile-Ife’. He ascended the throne in 1980. The Ọọ̀ni started his work in big business by working in his father’s trading business as a teenager before going to the United Kingdom to study for a degree in business.
In 1964 he started WAATECO, an automotive distribution business that imported vehicles and vehicle parts from the Soviet Union to sell in Nigeria. He is the founder of the Sijuwade Group, a Nigerian conglomerate with interests in oil & gas, construction, property development and hospitality, which he incorporated in 1975.
His net worth is $ 75 Million.
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