Wealthiest Kings in Africa: Although many of Africa’s remaining kings don’t have any significant political power, they still play a key role in fulfilling traditional and spiritual obligations in their respective monarchies. In some African countries, these traditional empires have been constitutionally recognized as state institutions Some African monarchs are known to live lavishly with lots of privileges, including state protection, a generous monthly salary and allowances, and a motorcade of luxury vehicles. They also hold massive fortunes which have been acquired through investments and inheritance. Here are the top five wealthiest kings in Africa.
1 King Mohammed VI, Morocco
Born in August 1963, Mohammed VI is the current king of Morocco. He 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, telecommunication, and distribution sectors. King Mohammed VI is considered more democratic than his predecessors. In 2014, he introduced a law governing family rights that made Morocco’s women among the most emancipated in the Arabian world.
2 Fredrick Obateru Akinrutan, Nigeria
King Akinrutan is known to live a lavish lifestyle. In 2014, he was quoted by a local newspaper saying that he wears a $1 million watch. He ascended to power in 2009 after a legal battle with another royal family that was claiming the throne.
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