In some African countries, traditional empires have been constitutionally recognized as state institutions.
Yes, they are living large.
Business Insider Sub Saharan African has compiled top four wealthiest kings in Africa.
First on our list is the inviting Mohammed VI. Apparently, he is still reigning. He was born on August 1963 and 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, telecommunications, and distribution sectors.
Estimated net worth: $300 million
King Fredrick Obateru Akinruntan, born in 1950, is estimated to be worth $300 million. He is the traditional ruler and king of Ugbo Kingdom. His investments in the oil industry are somewhat remarkable. King Akinrutan owns Obat Oil, one of the largest private oil companies in Nigeria. King Akinrutan lives quite lavishly. In 2014, he was quoted by a local newspaper saying that he wears a $1 million watch.
Estimated net worth: At least $50 million
King Mswati III was born in April 1968 in Manzini, Swaziland. He is the current King of Swaziland and head of the Swazi Royal Family. He was crowned king in April 1986 at the age of 18. He rules the small south African country as the absolute monarch.
King Mswati III has often been criticized for his lavish lifestyle, with many local and international media outlets accusing him of living an extravagant life, while his people languish in poverty. In the 2014 national budget, the country’s national assembly allocated $61 million for the King’s annual household budget. King Mswati is estimated to be worth $200 million.
Estimated net worth: $10 million
Source: Mining Equipment, Property, Jewelry
Otumfuo Osei Tutu II is the 16th King of the Ashanti Kingdom in Ghana, a very powerful kingdom in Ghana. He was born in May 1950 and ascended the throne in April 1999. He is the absolute monarch and head of the Ashanti royal house of Oyoko.
After studying in the United Kingdom, Osei Tutu II 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 company that provides mining equipment to several large industrial companies in Ghana. The King also owns an extensive real estate in Ghana and South Africa as well as a collection of valuable gold crown jewels.