It is popular knowledge that royalty and wealth are like peas in a pod. Since time immemorial, the world’s monarchs have always been blessed with so much wealth which was gotten through taxes of their people, inheritance, or by resources of their lands.
In recent times, however, kings can also brag about having private wealth gotten from individual stakes, properties, and investments.
Let us look at some of the top richest African kings in the world today, how they got the title, and how high their net worth is.
Here are the 10 Richest African Kings
1. King Mohammed VI of Morocco
This African King was born on August 21, 1963, and ascended the throne at the age of 36, in 1999 after the death of his father, Hassan II of Morocco. Mohammed VI has remained on the monarchial throne to date.
King Mohammed VI has an estimated net worth of about $2.6 billion and his source of wealth is known to be through investments. He is the top banker and businessman in the country and has investments even in agriculture.
In addition to being the richest King in Africa as of 2022, Mohammed is well-educated and has a degree in Political Science, a DEA in Public Law, and also a Ph.D. in Law.
He controls Al Mada formerly known as the SNI (Societe Nationale d’Investissemen). This private company has stakes in different ventures and is said to be valued at over $10 billion. This king owns a great amount of the world’s phosphate reserves and so many other investments.
The palace of King Mohammed VI of Morocco has an operating budget of about $960,000. This budget is paid by the state government of Morocco and covers for expenses such as personnel, clothing, and repairs.
2. Oba Fredrick Obateru Akinruntan of Ugbo Land, Nigeria
Closely following King Mohammed VI is Oba Fredrick of Ugbo Land, Ondo, Nigeria. He was born in 1950 and became king in 2009 after winning a lawsuit against his royal family by another royal family.
This king, worth over $300 million, is popularly described as an oil magnate. Oba Fredrick is the owner and founder of Obat Oil which occupies one of the top spots of privately owned oil companies in Nigeria.
The company was established in 1981 and as of 2022, brags over 50 gas stations across Nigeria. In addition to this, he owns one of the largest tank farms in Africa which is able to hold 65 million liters of petroleum products.
Oba Fredrick also owns properties in London and Nigeria in form of real estate. Some of these include the Febson Hotels and the Mall of Abuja. He was the first black person to buy the 2014 model Bentley car. He has a custom-built 2012 Rolls Royce car and a watch he bragged cost $1 million.
3. King Mswati III of Swaziland
King Mswati III of Swaziland began to rule Eswatini in April 1986 and has remained on the throne to date. He has a net worth of $200 million and has gained a lot from government funds.
In 2004, rumor had it that the king demanded that the government use about $15 million to redecorate 3 major palaces and build other palaces for his 11 wives.
A decade later, in 2014, a sum of $61 million was allocated to the King’s annual household budget. He owned a $500,000 DaimlerChrysler Maybach 62 and this purchase caused a media uproar which resulted in him banning the photographing of his cars.
He has however been in the news for more controversies than for good. His people have, a couple of times, protested the royal family’s reckless spending. While the King, his wives, and concubines live extravagant lives, the people he rules over live in almost abject poverty and starvation.
4. Sultan Sa’adu Abubakar III of Sokoto, Nigeria
He is the 20th Sultan of Sokoto, a state found in the Northern part of Nigeria. Born on August 24, 1956, he became the Sultan at the age of 50, in 2006. He took over the throne after the death of his brother, Muhammed Maccido who died on ADC Airlines Flight 53.
Sultan Sa’adu is placed in the third position of the richest African king because he has a net worth of about $100 million.
He was once in the military and even rose to the rank of Second Lieutenant in 1977. He also served as the commander of his own Armored Corps that was responsible for protecting former Nigerian Head of State, General Ibrahim Babangida.
This reigning monarch is the religious leader of the Muslims located in Nigeria. His affluence and respect can be dated back to his father, Siddiq Abu Bakar Dan Usman who was the 17th Sultan and held the position for over 50 years.
5. Otumfuo Osei Tutu II of Ashanti, Ghana
King Otumfuo Osei Tutu II is the 16th King of the Ashanti Kingdom located in Ghana. Born in May 1950, King Otumfuo ascended the throne at the age of 49, in 1999.
He studied in the United Kingdom and worked for a short while in private and public organizations in the UK and Canada. Upon leaving his job, he returned to start up his own company in Ghana.
In 1989, King Otumfuo Osei started Transpomech Ghana which provides mining equipment to industrial companies in the country. He also owns real estate in Ghana and South Africa and is the custodian of a collection of valuable gold crown jewels.
6. Oba Adeyeye Ogunwusi Enitan, Nigeria
Oba Adeyeye is a known associate accounting technician, a member of the Institute of Chartered Accountants of Nigeria, and a certified member of the Institute of Directors. He is also a member of the Global Real Estate Institute with a net worth of $70 million.
He is the 51st Ooni (traditional ruler) of Ife who ascended the throne in 2015 at the age of 41, after receiving his staff of office.
Oba Adeyeye is known to be a transformer as he redesigned, restructured, and beautified the ancient city of Ile-Ife. He is also an advocate for the empowerment and emancipation of women and the youth.
As a businessman, he has worked with multinational groups such as Dohagro Allied, Global Apex, Olam, Clemco, Stallion Group, and Milan Group. He also ventured into real estate and launched Essential Homes in 2014. This venture was aimed at providing luxurious homes to low-income earners.
Oba Adeyeye personally enjoys his about $70 million wealth in his mansion, the ‘White House’ which is the name given to his palace and he also drives an array of cars consisting of a Rolls Royce, Bentley, and Mercedes.
7. Oba Ewuare II Ogidigan of Benin, Nigeria
This prestigious king of the Benin Kingdom began his reign as king in 2016 after the death of his father Oba Erediauwa. He is the 40th Oba and is undoubtedly one of the wealthiest living monarchs.
Oba Ewuare II is well-educated, lived in London for a while, and was reportedly a diplomat who held notable positions there.
Worth about $60 million, Oba Ewuare II lives in a mansion located in the heart of Benin. He rides in a Rolls Royce and is the custodian of some returned artifacts stolen by the British people in the 19th century.
Oba Ewuare II is considered to be very wealthy because those returned artifacts are worth quite a fortune and his people are also very capable of generating wealth.
8. Obi Nnaemeka Alfred Ugochukwu Achebe of Onitsha, Nigeria
Obi Nnaemeka Alfred Ugochukwu Achebe was the former Chancellor of Kogi State University and the current Chancellor of Ahmadu Bello University. He has a net worth of $50 million and is well known for various contributions to the educational, petroleum, socio-economic, and political sectors of Nigeria.
He was born on May 14, 1941, and emerged as the Obi of Onitsha at the age of 61, in 2002. His position, unlike the aforementioned above, is not that of coronation but of emergence.
He is the 21st Obi of Onitsha land, located in Anambra State, Nigeria but before his emergence, served as a director in various companies of the Royal Dutch Shell Group.
He had affiliations with Shell Petroleum Company upon his return from the United States in 1972.
Obi Nnaemeka is the current chairman of the board of directors of Unilever Nigeria. He also currently holds the position of the National Traditional Rulers Council and is the state Chairman in his home state of Anambra.
Over the years, Obi Nnaemeka has served in various capacities, representing his country in bilateral, multilateral, and diplomatic relations.
READ ALSO: African Kings: The Most Powerful Monarchs That Are Still Alive
9. Oba Rilwa Akiolu of Lagos, Nigeria
He is the 21st Oba of Lagos after he was crowned the Oba on August 9, 2003. He ascended the throne at the age of 60 as he was born on October 29, 1943, and has since ruled as the traditional head of Lagos.
Oba Rilwa is said to be worth $40 million in net worth. He had previously served in the Nigerian Police Force for 32 years before he became an Oba. He is a fellow of the Nigerian Law School after graduating with a Bachelor of Law degree from the University of Lagos. The Oba is also a member of the Nigerian Institute of Management and has contributed immensely to the growth of Lagos State and the progress of the state’s indigenes.
10. Togbe Afede XIV of Asogli State, Ghana
Togbe Afede XIV from Ghana was born James Akpo on April 23, 1957. He was crowned king on October 2003 and can boast of having a net worth of $30 million.
The Agbogbmefgia of the Asogli State has a degree from the University of Ghana in Business Administration and also earned an MBA from Yale School of Management.
As a great investor, he is the current executive chairman of the World Trade Centre, Accra, he serves as a member of the board of several companies.
Togbe Afede is the majority shareholder of Accra Hearts of Oak FC, he co-founded Africa World Airlines Ltd, Sunon Asogli Power Ghana Ltd, and Databank Finacial Services. Additionally, the Agbogbemefgia established Strategic Initiatives Ltd – a private equity investment company.
Mansa Musa has Remained the Richest King in African History
Mansa Musa holds the position of the richest African king to ever live. Interestingly, this reputation is not limited to just Africa but even the world at large despite reigning long ago in the 14th century.
This king of the then Mali Empire who lived from 1280-1337 became the ruler of the empire in 1312. He has a wealth that is yet to be estimated or described.
Mansa Musa made his wealth through many activities and had multiple streams of income. Under his rule, Mali experienced prosperity and blossomed greatly even when talking about territorial conquests.
The Mali Kingdom under Mansa stretched from the Atlantic Ocean all the way to what is now known as Niger and bragged of a landscape covering about 2,000 miles.
Under his reign as King, Musa was in control of great resources such as salt and gold. His rule accounts for almost half of the world’s gold and it all belonged to the king. Elephant Ivory was another source of the Mali Empire’s wealth but not as notable as the gold and salt sector, particularly gold.
Mansa Musa was also described as a generous person who was wont to gift people gold worth a lot of money. His generosity in gold reduced its value in Cairo after the king paid a 3-months visit there and gave out a lot of gold to people. This act reportedly made the value of gold crash for about 10 years after Musa left.
Mansa Musa’s throne was built with gold, he was adorned in gold and he paid visitors, entertainers, and everybody with gold. His wealth knew no bounds and even though he was very charitable, he still never went broke.
