Middle East And Africa

March 2008
Forbes Asia;3/24/2008, Vol. 4 Issue 5, p64
The article deals with billionaires in the Middle East and Africa. Turkey added 13 billionaires in 2008. Divvying up family assets, rather than wealth creation, is largely responsible for the billionaire boom in Turkey. Nigeria's first billionaire, Aliko Dangote, hit the jackpot when his sugar production company was listed on the Nigerian stock exchange in 2007. Turkish telecom tycoon Mehmet Karamehmet is worth $4.3 billion, due to the rising value of his Turkcell stake and a Russian telecom that helped pay off his debts.


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