The richest kings in Africa, are rulers who have inherited Kingdoms that thrived on the continent before the arrival of European colonialists. While most of these kingdoms suffered violence, and had their influence and wealth reduced or even plundered in some cases, Africa has gradually began to grow in wealth and prosperity, as can be seen by the kind of wealth on display by the monarchs.
While the average African king may have about 200 million dollars as his official net worth; one thing that royalty does is that it gives one the power to create unlimited wealth for the benefit of posterity, and those within the domain of the king.
Top 10 Richest Kings in Africa And Their Net Worth
1. King Mohammed VI of Morocco
Net worth: – $2.1 billion
King Mohammed VI of Morocco is the richest king, and one of the only two absolute monarchs in Africa. His official title reads; ‘His Majesty the King Mohammed the Sixth, Commander of the Faithful, may God grant him Victory.’ King Mohammed VI is of The Moroccan Royal Family, also known as the Alaouite Dynasty which traces its history back several centuries.
His money is tied to the Société Nationale d’Investissement (SNI), which is a holding company that owns or controls several investments including agriculture, banking, real estate, power generation, and so on. His wealth is also boosted by Managem (mining company), Onapar, SOMED (tourism/real-estate companies), Wafa Assurance (insurance company), Marjane (hypermarket chain), Wana-Inwi (telecommunications company), and so on. He also has interests in food processing and packaging.
Not just does he have a great deal of money; he also has unlimited power to generate more wealth. King Mohammed VI of Morocco is not just a monarch; he is a astute businessman, and a superb diplomat.
2. Oba Fredrick Obateru Akinruntan of Ugbo Land Nigeria
Net-worth: $300 million
Oba Fredrick Obateru is the king of Ugbo in Ilaje Kingdom of Ondo State in Southwestern Nigeria. He is not the kind of king that makes noise all over the Television, or whose photos are always in the papers; this king is one for the board room; one of the richest kings in Africa, and one of the richest men in Nigeria. Oba Frederick Obateru is the Founder and Chairman of Obat Oil; an indigenous, privately held oil marketing company in Nigeria.
He also owns an extensive portfolio of residential and prime commercial real estate both in Nigeria and London. Oba Frederick Obateru Akinrutan has been associated with several large scale real estate development schemes in prime areas of Lagos; he has several estates in the Lekki Area.
3. Sultan Sa’adu Abubakar III of Sokoto
Sultan Sa’adu Abubakar III of Sokoto is perhaps the most powerful monarch in Nigeria. He is the 20th Sultan of Sokoto; but most impressively he is exceptionally influential in politics. Even the most despotic military rulers have usually listened to the Sultan of Sokoto because his position is seen as not only a regal but also spiritual.
Sultan Sa’adu Abubakar III of Sokoto receives patronage from any politician in northern Nigeria who is worth his salt, and also from any person aspiring to the highest offices in the land. The Sultan himself is a former decorated military officer; he headed the Armoured Corps that guarded General Babangida. He was commissioned as a Second Lieutenant in the Nigerian army; and so served with many who have become the top military brass.
4. King Mswati III of Swaziland
Net worth: $100 million
King Mswati III of Swaziland is quite a wealthy monarch. Swaziland or eSwatini is a small area of land that is landlocked; almost entirely surrounded by South Africa, and then what is left is bordered by Mozambique. King Msanti III of Swaziland took the crown on 25th April 1986 at 18 years old, and he is an absolute monarch.
As an absolute Monarch he holds the title to all the land in the country; and all the wealth in and on it. The king can therefore afford to live a life of opulence and luxury; even though the average person in the country lives on less than $1.25 per day.
5. Oba Adeyeye Ogunwusi Enitan
Net worth: $70 million
His Imperial Majesty Oba Adeyeye Ogunwusi Enitan is one of the most recognized royal fathers in the whole of Nigeria. He is the Ooni of Ife; which makes him the de facto overall ruler of Yoruba land because Ife is historically the bedrock of the Yoruba Nation. As for wealth; Oba Adeyeye Ogunwusi Enitan is one of the richest kings in Africa with an estimated net worth of $70 million.
He lives a lavish life style, and is known to make appearances in the most iconic of motor vehicles including a White Rolls Royce Phantom. He is quite fond of travelling; and has been known to tour exotic locations in Europe with his royal entourage. Oba Adeyeye Ogunwusi Enitan is also a very outspoken figure. He is the 51st Ooni of Ife; he ascended the throne of his forefathers in 2015, after the death of Oba Okunade Sijuwade, who was also known as one of the richest kings of Nigeria during his reign.
6. Oba Ewuare II Ogidigan
Net worth: $60 million
Oba Ewuare II Ogidigan; the Oba of the Great Benin Kingdom. For the records Oba Ewuare II is the king of a Kingdom that was a vast empire reaching all the coastal cities of Nigeria. He was crowned the Oba of Benin in 2016, after his father Oba Erediauwa passed on. Oba Ewuare II is the 40th Oba of Great Benin; and he sits on a throne of rulership that has endured since around 1180.
Oba Ewuare is one of the most respected personalities in Nigeria; as for wealth; he is known to be one of the wealthiest monarchs in all the land. He lives in an opulent mansion at the heart of Benin City; and makes appearances in an Iconic Rolls Royce; said to be the exact model used by the Queen of England.
Oba Ewuare II has seen some of the wealth looted from Benin by the British during the in 1897, when the Kingdom fell to the British, and his ancestor Oba Ovonramwen was exiled from the city. This return of stolen artifacts has further increased his prestige and wealth; Benin now has even more potential for wealth generation.
The Oba lived for a long time in London, and has held several diplomatic positions.
7. Obi Nnaemeka Alfred Ugochukwu Achebe of Onitsha, Nigeria
Net worth: – $50 million
HRH Obi Nnaemeka Alfred Ugochukwu Achebe of Onitsha is the 21st Obi of Onitsha. He was born on the 14th May 1941, and was crowned in 2002. He is the most prominent king in the Eastern region of Nigeria; and one of the most respected monarchs in the country.
Obi Nnaemeka Alfred made his money in oil and gas; he has held several big positions in Shell Petroleum Development Company both in Nigeria, and in several countries of Europe, and other parts of the world. He is currently the Chancellor of Ahmadu Bello University and the Chairman of the board of directors of Unilever Nigeria.
8. Oba Rilwan Akiolu of Lagos Nigeria
Net worth: $40 million
Oba Rilwan Akiolu is the Oba of Lagos. He was born on 29th October 1943 and was crowned the 21st Oba of Lagos in May 2003. He is from the ancient ruling house of Lagos. He is a law graduate from the University of Lagos, and served in the Nigerian Police Force for 32 years, before ascending the throne of his fathers.
He was an Assistant Inspector General of Police.
9. Togbe Afede XIV of Asogli State Ghana
Net Worth: $30 million
Togbe Afede XIV of Asogli State Ghana was born on 23rd April 1957 as James Akpo. He was crowned in October 2003. He studied at the University of Ghana, and has proven himself as an astute business man. He is the Current executive chairman of the World Trade Centre Accra, as well as several other companies including Databank Financial Services, Sunon Asogli Power Ghana Ltd, and The majority shareholder in Accra Hearts of Oak FC.
10. Ogiame Atuwatse III, Olu of Warri, Nigeria
Net worth: $20
His Royal Highness Ogiame Atuwatse III of Warri sits on the royal throne dating back to 1480 AD. He is the monarch of the Ìtsẹ̀kírì people in Warri, Delta State of Nigeria. He was crowned Olu on 21 August 2021. He is estimated to be worth at least $20 million by virtue of his office; titles and patronage by politicians and wealthy citizens.
The richest kings in Africa rule from the North to the Southern tip of the continent. Royalty has always been associated with wealth; and in Africa the situation is no different. The sources of wealth, however, of each of these kings tend to differ according to the forms of wealth that exist in the domains that they rule. Africa’s monarchs have the wealth to rival other kings in other corners of the world.