Forbes List Of World's Richest! Orji Uzor Kalu, Tony Elumelu Joins

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Forbes Magazine just published its annual ranking of Africa's 50 Richest People, and former Abia state governor and business man Orji Uzor Kalu and former MD of UBA Tony Elumelu are listed as billionaires. And Nigeria has also overtaken South Africa in the number of wealthiest.

According to Forbes, among the list of Africa's 50 Richest, Nigeria claims 13 spots while South Africa has 11 billionaires.

Africa's 50 richest are also wealthier than a year ago. Their combined net worth of $110.7billion is 6.7% more than in Nov. 2013. The minimum net worth needed to join this elite group rose to $510 million, up from $400 million a year ago."

There are three new billionaires on the list: Orji Uzor Kalu of Nigeria, Tony Elumelu of Nigeria and King Mohammed VI of Morocco." Forbes reports.