Forbes ranks Otumfuo Africa’s 5th richest king

Asantehene

The Forbes rich list has named the Asantehene, Otumfuo Osei Tutu II, as Africa’s fifth richest king.

The Ashanti King is estimated to be worth $10 million. His source of wealth, according to Forbes, is from mining equipment, an extensive real estate in Ghana and South Africa, and gold jewellry. Otumfuo Osei Tutu II came behind King Mswati III of Swaziland, Oba Okunade Sijuwade of Ile-Ife, Nigeria, Oba Obateru Akinrutan of Ugbo Land, Nigeria and King Mohammed VI, Morocco in the ranking.

King Mohammed VI, Morocco was named Africa’s richest king with an estimated net worth of $2 billion. He made his wealth from investments and owns a large stake of the world’s phosphate reserves.

Oba Obateru Akinrutan of Ugbo Land, Nigeria, came in second with an estimated net worth of $300 million. He owns Obat Oil, one of Nigeria’s largest privately-held oil trading companies, and an extensive portfolio of prime commercial and residential real estate in London and Nigeria.

In third place, Oba Okunade Sijuwade from Ile-Ife, Nigeria, made his $75 million fortune in construction, property and  oil.

King Mswati III of Swaziland’s $ 50 million wealth has been generated by investments in sugar, beverages and dairy products.