Friday, January 4, 2013

Oprah Winfrey-No Longer the Richest Black Woman

Philanthropist, Fashion Designer, Oil Tycoon
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*Oprah Winfrey has reportedly been unseated as the world’s richest black woman. According to a report published by Ventures Africa, an African business magazine and news service, the new title holder is Nigerian fashion designer and oil tycoon Folorunsho Alakija, who is worth an estimated $3.3 billion. That’s $500 million richer than Winfrey, whose wealth Forbes magazine estimated at $2.7 billion in September.

Alakija, 61, is the founder and owner of Famfa oil, a Nigerian oil company which owns a 60% working interest in OML 127, an offshore oil field which produces 200,000 barrels of oil per day. “Total E&P recently sold off its 20% stake in a similar oil field to China’s Sinopec for $2.5 billion,” explains Ventures Africa editor Douglas Imaralu. “The oil field in question has a daily production capacity of 180,000 barrels a day.

“Similarly, other hand, OML 127 in which Famfa has a 60% interest produces about 200,000 barrels a day. When we did the math using the Total-Sinopec deal as a comparator, we came to the realization that Alakija’s stake is easily worth billions of dollars. We showed our calculations on At this point, we have no doubt that she is indeed, richer than Oprah.”

(Original post by Keith Washington)
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