Royalty and riches go hand-in-hand as it’s rare to see a poor ruler. The 21st century is a time of prosperity and wealthy African monarchs make their money through taxes paid by the government, community donations, business inheritance, and other ventures. The Net worth of Kings is calculated from the assets they own after taking into account debt.
In modern Africa, most traditional rulers are under the control of written constitutions and laws of the nation. King Mohammed VI of Morocco is the richest King in Africa with an estimated net worth of $2.1 billion. The heads of the royal family are required to safeguard the economic growth of their subjects even as they accumulate personal wealth.
Top 10 Richest Kings In Africa
1. The King Mohammed VI of Morocco
King Mohammed VI is the richest King in Africa and also one of the billionaires of the world. He comes from the Alaouite dynasty. He was elected in July 1999, following the death of his father. As Morocco’s most prominent businessman and banker, he is the most affluent monarch ever in Africa.
King Mohammed VI’s wealth is estimated at $2.1 billion making him the richest King in Africa. His Moroccan royal family is renowned for holding one of the richest wealth in the globe. They have the largest stake in the Societe Nationale d’Investissement (SNI) which was originally state-owned. King Mohammed VI also is one of the top farmers and landowners throughout the world. Agriculture is among the most important sources of his income because it is tax-free.
2. Oba Fredrick Obateru Akinruntan of Ugbo
Oba Fredrick Obateru Akinruntan is a Nigerian monarch and is the traditional ruler of the Ugbo Kingdom. The Ugbo Kingdom is located within the Ilaje Local Government of the Ondo State in southwestern Nigeria. He was enthroned in the year 2009. The Ondo monarch owns Obat Oil, one of the largest privately-owned oil companies in Nigeria.
He also owns a large portfolio of prime and residential commercial real estate across Nigeria as well as London. Oba Fredrick Obateru Akinruntan is estimated to have an estimated net worth of about $300 million making him the second-richest King in Africa.
3. Sultan Sa’adu Abubakar III of Sokoto
Muhammadu Sa’ad Abubakar is the 20th Sultan of Sokoto. He is also the spiritual leader of Nigerian Muslims which comprise over 50% of the country’s population. The Sultan was appointed in November 2006. He was initially a soldier before becoming a monarch.
He became a Second Lieutenant officer in 1977 and in the latter part of the 1980s he was in charge of his own Armoured Corps that guarded General Babangida. Sultan Sa’adu Abubakar III is the second-richest king of Nigeria with an estimated net worth of about $100 million.
4. The King Mswati III Swaziland
The King of eSwatini was born on the 19th of April, 1968 in Manzini also known as Makhosetive. He was crowned on the 25th of April, 1986 at the age of 18 hence becoming the youngest monarch in Swaziland. He also is the only absolute monarch from Africa. Despite his status as the chief of eSwatini, the King of Mswati III is accused of living a lavish life and letting the citizens of Swaziland starve.
In 2014, the parliament gave $61 million to the Royal family, while the majority of citizens lived on less than $1.25. In addition to being the leader of eSwatini and king of eSwatini, King Mswati III is the chief fofTibiyo TakaNgwane, an investment firm whose assets are estimated at around $140million. The monarch has an estimated net worth of about $100 million.
5. Lamido Sanusi Lamido
Muhammadu Sanusi II, also called Khalifa Sanusi II is the spiritual leader of the Tijanniyah Sufi tribe in Kano state, Nigeria. Lamido Sanusi Lamido was born to the royal family, and he succeeded his uncle.
Sanusi was a banker as well as an economist. He was the governor of Nigeria’s Central Bank between 2009 and 2014. In his time, he was the one to bring about the oil scandal of $20 billion. Lamido Sanusi Lamido has an estimated net worth of $80 million making him one of the richest Kings in Africa.
6. Oba Adeyeye Ogunwusi Enitan
Oba Adeyeye Ogunwusi, also known as the Ooni of Ife is the 51st ruler of the Yoruba kingdom. He came to power in 2015 following the death of Oba Sijuwade. The monarch is recognized as one of the most wealthy kings in Nigeria.
Oba Adeyeye Ogunwusi is an associate accounting technician and a member of the Institute of Chartered Accountants of Nigeria popularly known as ICAN. He is also an associate participant in the Global Real Estate Institute and an accredited member of the Institute of Directors. Oba Adeyeye Ogunwusi’s net worth is estimated to be about $70 million.
7. Oba Ewuare II Ogidigan
Oba Ewuare II Ogidigan is the 40th King of the Benin Empire. He was appointed in October 2016 and is one of the most affluent monarchs in Nigeria. Before his rise to power, he held several ambassadorial posts and was involved in several business ventures. Oba Ewuare Ogidigan’s total net worth amounts to about $60 million making him one of the richest kings in Africa.
8. Obi Nnaemeka Alfred Ugochukwu Achebe of Onitsha Nigeria
Nnaemeka Alfred was born on May 14th, 1941. He became the 21st Obi of Onitsha in May 2002. He is among the most well-known kings of Eastern Nigeria. Nnaemeka has been appointed the Chancellor of Ahmadu Bello University and the chairman of the board of directors for Unilever Nigeria.
He was employed for a time in the USA before moving to Nigeria in 1972. After 1972, he began working for Shell Petroleum Company and currently is a trustee for the National Traditional Rulers Council. Between 1985 and 1987, he served as director of various Shell companies located in the Netherlands, UK, Sierra Leone, Angola, Liberia, the Gambia, Ghana, and Nigeria. Alfred’s net worth is estimated to be about $50 million making him one of the richest kings in Africa.
9. Oba Rilwan Akiolu of Lagos Nigeria
Oba Rilwan Akintola was born on the 29th of October 1943. He was made the 21st Oba of Lagos in May 2003. He graduated as a lawyer at his school, the University of Lagos. He was a member of the Nigerian Police Force for 32 years and he was promoted to the rank of the Assistant Inspector-General of Police. With an estimated net worth of about $40 million, the Oba of Lagos is undoubtedly one of the richest Kings in Africa.
10. Togbe Afede of Asogli State Ghana
The Agbogbomefia was born on the 23rd of April in 1957. He was christened James Akpo and was coronated in October 2003. He has a Business Administration degree from the University of Ghana and an MBA from the Yale School of Management. The Togbe Afede is a savvy investor and also a holder of several titles. He is the present executive chairman of the World Trade Centre, Accra, and a board member of many companies.
He founded SAS Finance Group Ltd, which is made up consisting of SAS Investment Management Ltd and Strategic African Securities Ltd. He also founded an investment firm for private equity named Strategic Initiatives Ltd (SIL). Furthermore, he is a co-founder of Africa World Airlines Ltd, Sunon Asogli Power Ghana Ltd, and Databank Financial Services. The monarch has an estimated net worth of about $30 million making him one of the richest kings in Africa.