It is a big irony: the super-wealthy among us are creating wealth at a faster rate than the overall growth rate on production costs, due to primarily marginal cost improvement, as a result of technology which continues to improve productivity across market sectors. In 2021, America’s 1% touched the sky and found more dollars. In Africa, that seems to be the same story, according to Forbes, summarized by Premium Times.
“The continent’s 18 billionaires are now worth an estimated $84.9 billion, which implies a 15 per cent increase within a year and the most since 2014 when a larger number of billionaires (28 billionaires ) were worth $96.5 billion when combined. ”
Nigeria’s Aliko Dangote retained his trophy – richest man in Africa, 11th straight year on the go, at $13.9 billion, up from $12.1 billion in 2020. Dangote Cement remains the “osisi na-ami ego” [the tree that produces money as fruits!] in the empire.
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Yet, this Forbes list will change by 2030 as some of the digital entrepreneurs begin their ascensions.
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Once you have grown, you have grown.
Hope a bag of cement will go back to N3k, now that the big man has retained his trophy?
That would be more valuable and impactful than reading list of guys that added more zeros to their dollar numbers.