Finance Although there are super rich Ghanaians, they have never made it to the Forbes Africa billionaire list - here is why

  • Published:

There are quite a number of billionaires in Ghana yet they never get listed on Forbes billionaire list

play Sam Esson Jonah

Ghana's economy may be weathering the toughest storms but for those at the top, there has rarely been an easier time to join the billionaires' club.

On an annual or even monthly basis, multi-millionaires are propelled into the premier league of extreme rich as they achieve 10-figure fortunes.

This super-rich set together sit on wealth estimating billions of dollars.

READ ALSO: Former British High Commissioner to Ghana reveals the only thing that will make him visit Ghana

Last year, Goodman AMC's Ghana Wealth Report discovered 2 Ghanaian billionaires, namely Charles Ampofo ($1.46 billion) and Sam Esson Jonah ($1.2 billion)        

There are quite a number of billionaires in Ghana yet they never get listed on Forbes billionaire list -here is why

Kerry Dolan of Forbes reports the factors considered before one is listed to be part of Forbes league of super rich people.

ALSO READHere are Ghana’s 8 wealthiest self-made millionaires

Investments must be found in home continent

Forbes list tracks the wealth of African billionaires who reside in Africa or have their primary businesses on the continent  but all Ghanaian billionaires have their assets out of Africa.

Lets take a look at the newest African added to the billionaire list in Africa. Strive Masiyiwa, a citizen of Zimbabwe and a London resident, is on the list as a result of his expansive telecom holdings in Africa.

How net worths are calculated and authenticated

In calculating the net worth of the listed billionaires, Forbes uses stock prices and currency exchange rates from the close of business of a stipulated time before the release of the list.

To value privately-held businesses, Forbes couple estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies.

Interestingly, some list members grow richer or poorer within weeks --or days -- of the measurement date.

 

24/7 Live - Subscribe to the Pulse Newsletter!