The Forbes Magazine has named Asantehene Otumfuo Osei Tutu II as Africa’s 5th richest king.
Forbes estimated Otumfuo’s net worth at $10 million dollars sourcing his wealth from his engagement in mining equipment, property and jewelry.
Otumfuo Osei Tutu II was ranked behind King Mohammed VI of Morocco whose wealth is estimated to be $2 billion dollars.
The Forbes report said Otumfuo after studying in the United Kingdom, worked briefly in private and public organizations in the United Kingdom and Canada before returning to Ghana in 1989 to set up Transpomech Ghana, a $12 million sales company that provides mining equipment to several large industrial companies in Ghana.
Otumfuo according to Forbes, also owns extensive real estates in Ghana and South Africa as well as a collection of valuable gold crown jewels.
But Otumfuo’s $10 million is still peanuts compared to second place, Oba Obateru king of the Ibo Land in Nigeria with 300 million dollars.
Another Nigerian,Oba Okunade Sijuwade – the King of Ile Ife came third with an estimated net worth of at least 75 million dollars.
While the popular King Mswati 111 of Swaziland ranked one place ahead of Otumfuo with an estimated 50 million dollars.
The research from Forbes however said the source of the wealth of the Kings excluded wealth held or controlled by the rulers in trust for their nations or territories.
By: Marian Efe Ansah/citifmonline.com/Ghana