On the ranking of the Richest Kings In Africa. As contained in history, colonial powers established their colonies and dominated African countries for long. Although a significant number of African nations are regarded as democratic lands, many African monarchs have persisted in maintaining their traditional supremacy.
Across many African locales, cities or rural regions, supreme rulers are found and they are regarded as kings. Under the influence of self-government –as practiced in African countries –many African kings have managed to proclaim traditional authority in their respective domains such as cities, semi-urban regions, and rural areas.
Although the political power vested in kings is considered less formal, many African kings have devoted themselves to promoting the welfare of their people and by reason of this, they are treated with due esteem.
As to the major focus of this article, we’ve obtained the names of the Top 5 Richest Kings in Africa 2019 and based on our findings, these kings are ranked in line with Forbes’ list of Africa’s richest kings.
Top 5 Richest Kings in Africa 2019
#1. King Mohammed VI of Morocco
- Net Worth: $2 Billion
- Country Of Origin: Morocco
King Mohammed VI is the dignified ruler of Morocco and currently, he is deemed the richest African monarch. He ascended the throne after the death of his predecessor and father. With his net worth estimated at $2 billion, King Mohammed VI of Morocco makes the largest portion of his wealth through the directorship of (SNI) Societe Nationale Investissement –a Moroccan company with massive speculation holding and large assets worth over $10 billion.
SNI has high stakes in several companies such as Marjane Holding –a mass media authority. However, the largest portion of SNI’s entire assets is its 48% shareholding in Attijariwafa –the largest Moroccan bank. Besides that, SNI’s shareholding spans across other Moroccan companies including Inwi (a multi-purpose telecom giant) and Managem Group (a giant mining firm).
Having ascended the throne in 1999, King Mohammed VI became the 27th king of the Alaouite descent. As soon as he became king, Mohammed VI implemented his progressive policy of monetary and socio-political changes. Through this policy, the Moroccan kingdom has attained greater freedom and prosperity than how it was during the reign of the previous monarch, King Hassan II (the father of the present king).
King Mohammed VI has attained an unparalleled stance and strengthened Morocco in various spheres including humanity, socio-politics, business, and leadership. Meanwhile, his financial policy has immensely contributed to the industrialization of Morocco and the influx of foreign entrepreneurs who have now established mechanical shops on the Moroccan terrain.
#2. Oba Obateru Akinruntan
- Net Worth: $300 Million
- Country Of Origin: Nigeria
Regarded not only as the richest Nigerian king but also the second richest king in Africa boasts of; Oba Akinruntan is the traditional ruler of Ugbo land –one of the influential communities in Nigeria’s South West, precisely Ondo State. Ugbo land happens to be the major producer of the vast oil deposit in Ondo State and through this natural endowment, Oba Akinruntan was able to carve out his business fortune by setting up a mini petrol station many years ago.
Oba Akiinruntan ascended the throne –as the new Olugbo of Ugbo land –in 2009. Despite his dignified status as a king, the massive portion of Oba Akinruntan’s wealth comes from Obat Oil –the voluminous oil company he set up in 1981.
With a view to promoting the welfare of his family as well as that of neighboring zones, Oba Akinruntan set up the oil company –Obat Oil –as an individual enterprise but today, the oil company has expanded massively with over 50 petrol stations across Nigeria.
Besides his control of the voluminous oil business, Oba Akinruntan has a wide range of assets locally and internationally and his current net worth hovers around $300 million.
#3. Lord Mswati III, Swaziland
Lord Mswati III is the current ruler of Swaziland. As an opulent person who dwells in riches, Lord Mswati III is also an ardent owner of spouses –with nothing less than 15 wives in his royal residence. Lord Mswati, who is in his mid-forties, has a birthday which coincides with the Easter festivity celebrated by Christians.
In the event of the birthday he celebrated recently, Lord Mswati III welcomed a host of dignitaries most of whom were human right activists. To spruce up his birthday party with extravagance, Lord Mswati III lavished a huge sum of money and invited Erykah Badu –an American R&B artiste –as the performing artiste.
With the estimated net worth of $50 million, Lord Mswati III continually makes money through yearly earnings from the national government. Apart from that, the king has authoritative control over the management of Tibiyo TakaNgwane –a large company with massive speculation holding.
Significantly, Tibiyo TakaNgwane has a massive shareholding in two sugar-refining companies namely RSSC (Royal Swaziland Sugar Corporation) and Ubombo Sugar. Also, the company has some significant portions in the shareholding of Swazi Spa Holdings (a lodging network), Swaziland Beverages (a spirits-producing firm) and Parmalat Swaziland (a dairy organization).
King Goodwill Zwelithini Kabhekuzulu
#4. King Goodwill Zwelithini Kabhekuzulu
- Net Worth: $19 Million
- Country Of Origin: South Africa
King Goodwill Kabhekuzulu commands majesty and is highly regarded as the monarch of the Zulu group –the biggest ethnic group in South Africa. With regard to his dignified supremacy, the king is endowed with a mouthwatering sum of $6 million as yearly allowance. With this allowance, King Kabhekuzulu fends for his royal household.
Besides the yearly returns, King Kabhekuzulu magnifies his opulence with lots of grants as well as luxuries including private flight travels which he enjoys on a regular basis.
Quite interestingly, the king spends no penny to enjoy these luxuries since the charges are usually deducted from the revenues generated from tax collection in South Africa. With his massive net worth valued at $19 million, King Goodwill Kabhekuzulu splashes around wealth with a beautiful garage of expensive cars.
#5, Otumfuo Osei Tutu II, Ashanti
- Net Worth: $14 Million
- Country Of Origin: Ghana
Otumfuo Osei Tutu II is regarded as the traditional ruler of Ashanti, the native land of the Asantes –the largest Ghanaian ethnic group. He ascended the royal throne in 1999. As regards his notable supremacy, King Otumfuo Tutu II serves as the spiritual as well as political leader of all Asante indigenes.
Prior to his return after having left Ghana, King Osei Tutu II served as an employee in private organizations based in foreign countries such as Canada and Britain. On his return to Ghana in 1989, he established his own enterprise Transpomech Ghana. With his Ashanti kingdom considered a vast deposit of gold, King Osei Tutu II has managed to acquire a pile of gold royal gems as well as an enormous land expanse in Ghana. Under the influence of his majesty as a king, Osei Tutu II is declared with the net worth of $14 million.
There you have it on The Richest Kings in Africa 2019.
- TOP 10 RICHEST TRIBES IN AFRICA
- RICHEST BLACK MAN IN THE WORLD TOP 10 BLACK BILLIONAIRES
- TOP 20 RICHEST MEN IN AFRICA AND THEIR NET WORTH
- TOP 10 RICHEST PRESIDENTS IN AFRICA
- TOP 10 POOREST CITIES IN AFRICA
Tags: The Richest Kings in Africa 2019