Forbes has announced that Isabel Dos
Santos is Africa’s richest woman and the first to be worth more than a
billion dollars. But her riches appear to have little to do with hard
work or doing smart business. Here are facts about Isabel and her
suspicious wealth...
She’s The Daughter of Angola’s President
Dos
Santos, age 40, is the oldest daughter of Angolan President José Eduardo
dos Santos, a noted autocrat and perhaps even a despot, who has been in power since 1979.
Her Early Business Ventures Failed
Santos
started her first business at age 26, a Luanda-based restaurant called
Miami Beach. It was a failure and badly managed. She followed with a
garbage collection business, which also failed despite ‘winning’
contracts that were arranged by her father. Critics say there is a long
list of similar failures and Dos Santos has proven more successful at
owning stock and sitting on the boards of businesses arranged through
her political connection.
The Sources Of Her Wealth
Being
crowned Africa’s richest woman is a remarkable achievement. Dos Santos
did so through investments in numerous Angolan and Portuguese
businesses. Forbes reports that she owns significant shares in a
Portuguese media conglomerate and at least one bank. She also has
similar respective stakes in an Angolan bank and telecoms firm. But how
she acquired these is not so clear.
The Questions About Her Wealth
Dos
Santos may be rich, but she is far from a self-made billionaire. According to
activists, much of Dos Santos’ wealth come from deals arranged by her
father and transferred to her.
The Defence Of Her Wealth
Africa’s richest
woman has kept a remarkably low profile throughout her career. Even
Forbes could not reach the business woman to talk about her massive
fortune. But her spokesperson has denied stories about the shady origins of
Dos Santos’ wealth, saying it is mere speculation.
With the facts on ground, what do you think of her massive wealth?
No comments:
Post a Comment