Check Out Africa’s Richest Monarchs Worth Over $6 Billion (Photos)

Africa is home to rich traditions and cultures and monarchs are an important aspect of African societies.

Monarchs are very powerful in some communities and affect the lives of many people. In some countries, monarchs or kings take on important governance roles and become the primary symbols of political authority.

In fact, highly respected monarchs in Africa own a lot of wealth through land ownership and other business transactions.

Here are the richest monarchs in Africa

According to Business Insider South Africa, three prominent monarchs in Africa are worth more than $6.2 billion together.

1 Mohammad VI (Morocco)

According to Forbes magazine, the fortune of Mohammed VI is estimated at around 5.7 billion dollars, which makes him the richest king in Africa. Business Insider reports that his “wealth comes primarily from investments.”

King Mohammed VI is at the head of the National Investment Company whose assets are estimated at more than 9 billion dollars. The King of Morocco has also made investments in the financial, mining, telecommunications and distribution sectors.

1. Fredrick Obateru Akinrutan (Nigeria)

Fredrick Obateru Akinrutan, the king of the Ugbo kingdom in Ondo State, ranks second in this ranking. His fortune is estimated at $297 million. Much of his income comes from his investments in the oil industry. Obat Oil, one of Nigeria’s largest private oil companies, is owned by King Akinrutan.

1. King Mswati III (eSwatini)

He recently changed the name of his country from Swaziland to eSwatini. He is worth around $198 million. According to Forbes, the majority of his fortune comes from investments.

King Mswati III took the throne of the tiny southern African kingdom in April 1986 and has ruled for more than 31 years.

Photo credit: africafeeds

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