U.S website RichestLifestyle.com recently released their Richest African Presidents 2014 list, but the release prompted Nigerian President Goodluck Jonathan to threaten legal action for his placement on the list.
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Here are Africa’s top 8 richest presidents, according to RichestLifestyles.com:
8) Robert Mugabe – Net Worth: $10 Million
Country: Zimbabwe Years in Power: 26
Robert Mugabe is the President of Zimbabwe. His net worth is estimated to be around $10 million, according to Celebrity Net Worth. Mugabe’s family is also reportedly very wealthy. And while Mugabe has won many elections in his country, outsiders frequently criticize the leader for violating various electoral procedures. Mugabe, though, also enjoys support from the masses — both in Zimbabwe and throughout Africa and the diaspora — for his unflinching Pan-African stances that are in defense of his people.
7) Idriss Deby – Net Worth: $50 Million
Country: Chad Years in Power: 23
Idriss Deby has been the President of Chad since 1990. His net worth is estimated to be $50 million, according to Celebrity Net Worth. Toward the end of August 2006, Deby reportedly made international news after calling for his nation to have a 60 percent stake in its output after receiving close to nothing from foreign companies running the industry.
6) King Mswati III – Net Worth: $100 Million
Country: Swaziland, Years in Power: 28
According to Forbes Magazine, Mswati III is the 15th richest royal in the world as the King of Swaziland. He is reportedly worth more than $100 million; down $100 million from his 2012 fortune ($200 million). The King has often been criticized for his lavish spending. For example, in the summer of 2009, several of his 13 wives reportedly spent more than $6 million in a shopping spree. In addition, in the 2014 budget, parliament allocated $61 million for the King’s annual household budget, while 63 percent of Swazis reportedly live on less than $1.25 per day. Mswati also reportedly has a luxury car collection that includes a $500,000 Daimler Chrysler’s flagship Maybach 62.
6) – Net Worth
5) Paul Biya – Net Worth: $200 Million
Country: Cameroon Years in Power: 31
Paul Biya has been the President of Cameroon since November 6 1982. His estimated net worth is around $200 million, according to ForeignPolicy.com, even though about 48 percent of the citizens of Cameroon live below the poverty line. Catholic Committee against Hunger and for Development (CCFD) and several on-and-offline media have placed him on the list of leaders with ill-gotten wealth. In 2009, French online newspaper Rue 89 reported the Cameroon President’s vacation was the most expensive among world leaders — reportedly surpassing those of the American President. At the time, President Biya was criticized for spending 30,000 euros ($40,000) per day on renting a villa. However in a recent Gallup Poll, asking the question, “Do you approve of the way [Paul Biya] is handling his job as President, which came out in August, Biya enjoyed a 70 percent approval rating, with only 26 percent disapproving.
4) Uhuru Kenyatta – Net Worth: $500 Million
Country: Kenya Years in Power: 1
Uhuru Muigai Kenyatta was the President of Kenya and the son of Kenya’s first President, Jomo Kenyatta. In 2011, Forbes estimated that his net worth was $500 million. Most of his wealth comes from property. Along with his family, the President reportedly owns stakes in Kenya’s largest dairy company Brookside Dairies, media company Mediamax, Heritage Hotels, Commercial Bank of Africa, and hundreds of thousands of prime Kenyan land. Kenyatta is regarded as man of the people due to his sociability. During his inaugural speech, he promised economic transformation through Vision 2030, free maternal care, and unity among all Kenyans. But just this week, Kenyatta traveled to Hague in order to face the International Criminal Court (ICC) for alleged crimes against humanity during his nation’s 2007 elections. In order to answer the charges, Kenyatta has temporarily stepped down as president.
3) Teodoro Obiang Nguema Mbasogo – $600 Million
Country: Equatorial Guinea, Years in Power: 34
Teodoro Obiang Nguema Mbasogo is the president of Equatorial Guinea. He came to power in August 1979 by ousting his uncle Francisco Macias Nguema in a military coup. He has overseen the emergence of the nation as an important oil producer, beginning in 1990s. His personal fortune exceeds $600 million, according to Forbes Magazine (back in 2006). In October 2011, the U.S. government seized $70 million assets of his son, Teodoro Nguema Obiang Mangue. Though Equatorial Guinea is Africa’s second richest nation, the majority of the population reportedly live under the poverty line.
2) Mohammed VI of Morocco – Net Worth: $2.5 Billion
Country: Morocco, Years in Power: 15
Mohammed VI is the current King of Morocco. He is also the country’s leading businessman. He is worth more than $2.5 billion, according to Forbes. The King ascended to the throne following his father’s death in 1999 and he immediately set about improving upon his appalling human rights record and alleviating poverty.
1) Jose Eduardo dos Santos – Net Worth: $20 Billion
Country: Angola, Years in Power: 34
Jose Eduardo dos Santos is the president of Angola. He has held on to this post since 1979. His personal estimated wealth exceeds $20 billion, according to Cabinda Online. While around 70 percent of Angolans live on less than two dollars a day. His daughter, Isabel dos Santos, is among the Forbes’ Africa billionaires with a net worth of $3.8 billion. She’s currently Africa’s richest woman and also the world’s richest Black woman.
Meanwhile, Nigerian President Jonathan was originally ranked the sixth richest African president, with a net worth of $100 million. However, Goodluck rejected the claim earlier this week, threatening legal action against RichestLifestyle.com.
In a statement released on Wednesday, the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, said that President Jonathan has never been a businessman and all his income since 1999 till date has been from the emoluments he earned from the offices he has held:
“The totally unwarranted inclusion of President Jonathan in the publication titled ‘Africa’s Richest Presidents 2014’ is another attempt to unjustifiably portray the President as a corrupt leader and incite public disaffection against him.
Tthere has been no significant variation in the totality of his personal assets as contained in his last declaration to the Nigerian Code of Conduct Bureau in 2011 which, as can be verified, was a very, very far cry from the $100 million figure now being bandied about by Richest Lifestyle.com and other irresponsible, copy-cat publications.
“We have noted with consternation the listing of President Goodluck Ebele Jonathan by a website – RichestLifestyle.com – as the sixth richest African President with an estimated net worth of $100 million U.S. Dollars.
“The Presidency condemns the totally unwarranted inclusion of President Jonathan in the publication titled “Africa’s Richest Presidents 2014″ as another attempt to unjustifiably portray the President as a corrupt leader and incite public disaffection against him.
“We categorically assert that there is no factual basis for ranking President Jonathan as the sixth richest African Head of State with a net worth of about $100 million U.S. Dollars.
“As is well known, President Jonathan has never been a businessman or entrepreneur, but a life-long public servant. The President has held public office since 1999 and has regularly declared his assets as required by Nigerian laws. He has had no personal income since 1999 other than his official remuneration as deputy governor, governor, vice president, acting president and president which are matters of public record.
“The clear and unacceptable imputation of the claim that President Jonathan is now worth about $100 million is that the President has corruptly enriched himself while in office which is certainly not the case.
“We therefore demand a retraction and an unreserved apology from Richest Lifestyle.com and all those who have reproduced the offensive article.
“Otherwise, they should be prepared to substantiate their libelous claims against the President in courts of law within and outside Nigeria”.
By Thursday, President Jonathan’s ranking had been deleted, with the publishers stating in its place, ”This article has been removed. The net worth was evaluated by Celebrity Net Worth.”