Monarchy was the dominant type of governance throughout pre-colonial Africa, with many kings revered not just for their ceremonial roles but in addition for his or her affect and inherited wealth.
Whereas some served symbolic functions, others wielded substantial energy, commanding respect and controlling huge fortunes handed down by royal dynasties.
Beforehand, Intel Area highlighted the wealthiest monarchs in Nigeria and Yorubaland.
This text expands that focus to current the highest ten richest kings throughout the African continent.
)
)
READ MORE: God should bless me with money to marry 3 wives and live long – Prophet Kumchacha
1. King Mohammed VI of Morocco – $2.1 Billion
King Mohammed VI ascended the Moroccan throne in 1999, following the demise of his father, King Hassan II. As the pinnacle of the Alawi dynasty, he’s Africa’s wealthiest monarch, with an estimated web price of $2.1 billion.
READ MORE: 7 powerful pre-colonial African kingdoms that shaped the continent’s history
Except for his royal duties, King Mohammed VI is a formidable businessman. His household controls a big stake in Société Nationale d’Investissement (SNI), a previously state-owned funding agency. His fortune locations him among the many wealthiest royal households globally.
)
2. Oba Obateru Akinruntan (Olugbo of Ugbo, Nigeria) – $300 Million
READ MORE: Sarkodie praises Akon for powering Afrobeats’ global breakthrough
Oba Frederick Obateru Akinruntan, the Olugbo of Ugbo in Ondo State, Nigeria, is each a standard ruler and a profitable entrepreneur. He based Obat Oil, one in all Nigeria’s largest non-public oil corporations. Although not essentially the most influential Yoruba monarch, he’s reportedly the wealthiest, with a web price of $300 million.
Topped in 2009, Oba Akinruntan is understood for his luxurious way of life. “In 2012, he made historical past as the primary Black particular person to buy the 2014 Bentley mannequin beforehand owned by Queen Elizabeth II.” He additionally allegedly owns one in all Nigeria’s costliest yachts, befitting the riverine setting of his kingdom.
)
3. Sultan Sa’adu Abubakar III of Sokoto – $100 Million
READ MORE: ‘I’m not retired; this is just the beginning’ – Stay Jay denies career death claims
Sultan Sa’adu Abubakar III, the twentieth Sultan of Sokoto, holds spiritual authority over Nigeria’s Muslim inhabitants and is essentially the most outstanding conventional ruler in Northern Nigeria. His estimated wealth stands at $100 million.
He succeeded his brother in 2006 and had beforehand served in the Nigerian military, occupying a number of administrative positions earlier than taking up royal tasks.
)
4. King Mswati III of Eswatini – $100 Million
King Mswati III, Africa’s final absolute monarch, grew to become king of Eswatini at simply 18. With a web price of $100 million, he’s additionally ranked among the many wealthiest royals globally.
READ MORE: Marriage is not for everyone – Uncle Ebo Whyte challenges social pressure to wed
Past his monarchic position, he serves because the CEO of Tibiyo TakaNgwane, a state-run funding firm that manages the nation’s main property.
)
5. Oba Adeyeye Enitan Ogunwusi (Ooni of Ife) – $70 Million
Oba Adeyeye Enitan Ogunwusi, often called Ọjájá II, grew to become the 51st Ooni of Ife in 2015 after the passing of Oba Okunade Sijuwade. With a fortune estimated at $70 million, he’s among the many richest kings in Yoruba land.
Earlier than his ascension, he was a outstanding actual property developer in Lagos. His storage boasts luxurious autos, together with a Rolls-Royce Phantom, Mercedes-Benz S550, and two Bentleys—symbolic of his opulence.
)
READ MORE: Nana Agradaa claims powerful figures are pressuring her to settle case with Empress Gifty
6. Oba Ewuare II of Benin – $60 Million
Oba Ewuare II Odidigan, the fortieth monarch of the historic Benin Kingdom, holds an estimated web price of $60 million.
He succeeded his father, Oba Erediauwa, and oversees one of many oldest conventional establishments in West Africa.
A former diplomat and businessman, he’s additionally a United Nations ambassador, combining his royal lineage with international affect.
)
7. Obi Nnaemeka Alfred Ugochukwu of Onitsha – $50 Million
The twenty first Obi of Onitsha, Obi Nnaemeka Alfred Ugochukwu Achebe, assumed the throne in 2002 after an illustrious profession with the Royal Dutch Shell Group, the place he served in numerous govt roles.
He at the moment chairs the board of Unilever Nigeria and serves as Chancellor at Ahmadu Bello College. His wealth is estimated at $50 million.
READ MORE: 6 Ghanaian entertainers who have survived deadly road crashes
)
8. Oba Rilwan Akiolu of Lagos – $40 Million
Oba Babatunde Aremu Akiolu, the Oba of Lagos, is one in all Nigeria’s wealthiest monarchs, with a web price of $40 million.
Earlier than his coronation in 2003, he spent over three a long time within the Nigeria Police Power, retiring as Assistant Inspector-Normal.
He’s additionally affiliated with the Nigerian Legislation College and the Nigerian Institute of Administration, combining royal affect with a powerful skilled background.
)
9. Togbe Afede XIV of Asogli – $30 Million
Togbe Afede XIV, President of the Asogli State Council in Ghana, is valued at roughly $30 million. He was topped in 2003 and holds levels from the College of Ghana and Yale College of Administration.
READ MORE: How Accra socialite Dada Joe Remix was arrested: exclusive details emerge
His enterprise portfolio consists of chairing the World Commerce Centre Accra and founding SAS Finance Group, a inventory brokerage and advisory agency.
)
10. Otumfuo Osei Tutu II of Ashanti – $30 Million
Otumfuo Osei Tutu II, King of Ghana’s Ashanti Kingdom, has a web price of $30 million. Since 1999, he has served because the non secular and political chief of the Asante folks.
Educated within the UK, he based Transpomech Ghana, a $12 million mining provide firm, and owns important actual property in Ghana and South Africa, together with worthwhile crown jewels.
)
These monarchs exemplify how custom, affect, and entrepreneurship intertwine in fashionable Africa, showcasing not solely royal heritage but in addition financial would possibly.
How African Kings earn a living
Many African monarchs earn a big earnings by the goodwill and generosity of their communities. It’s not unusual for rich members of a tribe or neighborhood to offer substantial sums of cash, vehicles, land or homes to their conventional Kings in return for non secular blessings or unrelated favors. And since these conventional monarchs could wield important affect in political circles, a few of them get invited be a part of boards of enormous companies. Obi Nnaemeka Achebe, the Obi (King) of Onitsha, a mid-sized industrial city in Nigeria’s southeastern area, serves because the Non-Government Chairman of Unilever Nigeria, a big publicly-listed producer of shopper items, and he beforehand served as Chairman of Diamond Financial institution, a number one Nigerian industrial financial institution. Oba Adedotun Gbadebo, who’s the Alake (King) of Egbaland, a clan of Yoruba-speaking folks in Nigeria, is the Chairman of Oando, a big Nigerian vitality firm.
A few of these rulers management massive fortunes. Some have constructed their fortunes from scratch by beginning profitable enterprises and shrewdly reinvesting their income into a various vary of enterprise considerations. Others have merely had wealth transferred to them by their forefathers.
