The 4 richest kings in Africa
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Being a traditional monarch in Africa can be a lucrative affair.
The kings on the African continent carry a high level of influence.
In some African countries, traditional empires have been constitutionally recognized as state institutions.
Don't be totally shell-shocked to see some African monarchs living lavishly with lots of privileges, including state protection, a generous monthly salary and allowances, and a motorcade of luxury vehicles.
Yes, they are living large.
Business Insider Sub Saharan African has compiled top four wealthiest kings in Africa.
1. Mohammed VI of Morocco
Estimated net worth: $2 billion
Source: Investments
First on our list is the inviting Mohammed VI. Apparently, he is still reigning. He was born on August 1963 and ascended to the throne in July 1999 after the death of his father, King Hassan II. Mohammed VI is considered the wealthiest African king, controlling Moroccan investment holding company Societe Nationale d’Investissement, whose assets are estimated to be worth more than $10 billion. The King also owns one of the world’s largest phosphate reserves and has investments in the financial, mining, telecommunications, and distribution sectors.
2. Fredrick Obateru Akinrutan of Nigeria
Estimated net worth: $300 million
Source: Oil
King Fredrick Obateru Akinruntan, born in 1950, is estimated to be worth $300 million. He is the traditional ruler and king of Ugbo Kingdom. His investments in the oil industry are somewhat remarkable. King Akinrutan owns Obat Oil, one of the largest private oil companies in Nigeria. King Akinrutan lives quite lavishly. In 2014, he was quoted by a local newspaper saying that he wears a $1 million watch.
3. King Mswati III of Swaziland
Estimated net worth: At least $50 million
Source: Investments
King Mswati III was born in April 1968 in Manzini, Swaziland. He is the current King of Swaziland and head of the Swazi Royal Family. He was crowned king in April 1986 at the age of 18. He rules the small south African country as the absolute monarch.
King Mswati III has often been criticized for his lavish lifestyle, with many local and international media outlets accusing him of living an extravagant life, while his people languish in poverty. In the 2014 national budget, the country’s national assembly allocated $61 million for the King’s annual household budget. King Mswati is estimated to be worth $200 million.
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