Isabel dos Santos, dubbed 'princess', named Africa's first female billionaire

Daughter of Angola's president of 33 years, Dos Santos is 'no role model' in an oil-rich state where most get by on $2 a day

The clue was in the wedding. When Angola's Isabel dos Santos married a Congolese art collector in 2003, there were reports that a choir was flown in from Belgium and two charter planes delivered food from France. African presidents were among 100 guests at the extravaganza, which cost an estimated $4m (£2.5m).

Evidently, Dos Santos was a woman of means. Just how high her fortune has soared in the subsequent decade is now revealed by Forbes, the US financial magazine, which has named her as Africa's first female billionaire.

Critics were quick, however, to dismiss the 40-year-old as a role model for either Africans or women. She is the eldest daughter of President José Eduardo dos Santos, the continent's second longest-serving leader at 33 years and an autocrat accused of enriching his family at the expense of ordinary Angolans. His daughter is sometimes referred to derisively as "the princess".
José Eduardo dos Santos, Angola's president, left, next to his third wife, Ana Paula dos Santos, in Luanda. Isabel dos Santos, his eldest daughter, and her husband, Sindika Dokolo, are in the second row. Photograph: Bruno Fonseca/4See/Eyevine
Forbes found that Isabel dos Santos's shares in several Portuguese firms, including a cable television company and an Angolan bank, put her on the billionaires' list for the first time. Most of the population in the southern African nation live on about $2 a day.

Dos Santos was born to the president's first wife, Tatiana Kukanova, in Baku, Azerbaijan, where he was studying at the time. As the child of a guerrilla fighting for Angolan independence from Portugal, she had few prospects of fabulous wealth.

She attended a state school in the capital, Luanda, at a time when there was no private school alternative, according to the journalist and anti-corruption campaigner Rafael Marques de Morais.

"She was very humble," he said. "People liked her because she was very simple and down to earth and didn't want to be seen as the privileged one."

Her father became president in 1979, and Dos Santos and her divorced mother eventually moved to London. According to a 1991 British newspaper report, she spent two years at St Paul's public school in London. She is then known to have studied electrical engineering and business management at King's College London.

Back in Angola, aged 24, her first business venture was a restaurant in Luanda called Miami Beach. Not a success, said De Morais. "Her restaurant was badly managed. Even today it still takes two hours to be served and an hour to get the bill."

He added: "Then she set up a garbage-collection business and it didn't go anywhere. I have a list of her failed ventures."

According to Forbes, Dos Santos is the biggest shareholder in Zon, a Portuguese media conglomerate, with 28.8% of the stock, worth $385m; she also owns 19.5% of the Portuguese bank Banco BPI, worth $465m; and 25% of Angola's Banco BIC, worth an estimated $160m.

In addition, she is said to be a 25% shareholder in the Angolan telecoms company Unitel. The state-owned newspaper Jornal de Angola awarded her the title of entrepreneur of the year for 2012.

De Morais believes these are mere manifestations of her father's reach and that Dos Santos is no feminist icon. "Most of her businesses in Angola are approved and transferred by her father, the president," he said.

The investments in Portugal, De Morais added, were made first by the state firm Sonangol, which manages Angola's oil and gas reserves, with Dos Santos receiving shares.

"When someone shows up with a billion dollars you have to ask what is the origin of the wealth? This is not explained."

The anti-corruption organisation Transparency International recently ranked Angola 168th out of 178 countries in its corruption perception index.

Peter Lewis, an African studies professor at Johns Hopkins University in the US, told Forbes: "The source of funds and corporate governance are very murky. The central problem in Angola is the complete lack of transparency. We can't trace the provenance of these funds.

"When you tease out the ownership and controlling interests in Angola it reads like a Who's Who of family members and party and military chiefs."

In 2003 Dos Santos married Sindika Dokolo, Congolese art collector the son of the tycoon Sanu Dokolo, founder of Bank of Kinshasa. The couple, who have three children, divide their time between Luanda, London, Lisbon and Johannesburg, where Dokolo has relatives.

Dos Santos speaks several languages but never talks to the media, preferring, like her father, to maintain a low profile. Her spokeswoman in Portugal insisted all her investments have been presented with maximum transparency from publicly listed companies. The Guardian


Disclaimer: The Content Or Opinions Expressed On This Web Site Are Not To Be Interpreted As Medical Advice. Please Consult With Your Doctor Or Medical Practitioner Before Utilizing Any Suggestions On This Web Site.

COMMENTS

Name

10 Years,1,1948 Arab–Israeli War,1,1948 Palestinian exodus,1,1984 Summer Olympics,1,1st Duke of Wellington,1,2007 NBA Playoffs,1,2009 French Open,1,2010 FIFA World Cup,1,2013 Presidents Cup,1,2016 Summer Olympics,1,2016 Zimbabwe protests,2,20th Century Fox,1,3rd Street,1,A Course in Miracles,1,A-ok,1,Abacus Data,1,Abby Wambach,1,ABC Studios,1,Abraham,1,Abuja,1,Academy Award,1,Access (economics),1,Ace Attorney,1,Acton Institute,1,Adam Baker,1,Adams Street (BMT Myrtle Avenue Line),1,Adrian Peterson,1,Advertising,2,Advertising Age,1,Affectional orientation,1,Affluence in the United States,1,Africa,5,Africa Cup of Nations,1,Aging of wine,1,Air Canada Centre,1,Airline,1,Al-Shabaab (militant group),1,Ali Williams,1,Alibaba,1,Alibaba Group,2,Aliko Dangote,8,All-America,1,Alternative for Germany,1,Alternative investment,1,AlterNet,1,Amancio Ortega,1,Amber Rudd,1,Amélie Mauresmo,1,American Dream,1,American Heart Association,1,American Library Association,1,American National Election Studies,1,Americas,1,Amorepacific Corporation,1,Analytical skill,1,Andrew Breitbart,1,Andy Bruce,1,Andy Dehnart,1,Andy Murray,1,Anglican Communion,1,Anglican Consultative Council,1,Angola,1,Angst,1,Animal husbandry,1,Anna Karolína Schmiedlová,1,Apollo Justice: Ace Attorney,1,App Store (iOS),1,Apple Inc.,5,Application programming interface,2,AQR Capital,1,Argentina,1,Ariana Grande,1,Arthur Wellesley,1,Artist,1,Arun Jaitley,1,Asian Americans,1,Asser,1,Assistant director,1,Associated Press,4,Association football,1,Association football culture,1,Aston Park Tennis Center,1,Athena,1,Atlanta,1,Atlassian,1,Australia,2,Australian Bureau of Statistics,1,Baby boomer,1,Bachelor of Arts,1,Balance sheet,1,Ballistic missile,1,Bangkok,1,Bank account,1,Bank of England,2,Banking,1,Banking in India,1,Barack Obama,4,BB cream,1,BBC,2,Beijing,1,Being Mary Jane,1,Benjamin Franklin,1,Bernard Arnault,1,Beverly Hills,1,Bill Gates,7,Bill of materials,1,Billboard (magazine),1,Billboard Hot 100,1,Billionares,11,Biographies,2,Birmingham,1,Black Entertainment Television,1,Blue Bottle Coffee,1,Board of directors,1,Breaking News,18,Brexit,1,British South Africa Company,1,Budgeting,6,Burnley F.C.,1,Business,7,Businesses,53,Calabasas,1,California,5,Cameroon,1,Cameroon News,1,Canada,1,Canadian National Railway,1,Capcom,1,Capital gains tax,1,Carrie Underwood,1,Celebrities,1,Certified Financial Planner,1,Chairman,1,Charlie Munger,1,Chelsea F.C.,1,China,2,Chinese language,1,Chris Bosh,1,Christmas,1,Cleveland,1,Cleveland Cavaliers,2,Cloudy Bay,1,Companies,5,Continental Resources,1,Contract,1,Craig Venter,1,Cricket South Africa,1,Cristiano Ronaldo,1,Cupertino,2,Customer relationship management,1,David Icke,1,Davido,2,Death by natural causes,1,Debt,1,DeMar DeRozan,1,Democratic Part,1,Dick Enthoven,2,Directorate General of Economic Enforcement,1,Donald Trump,4,Dude Perfect,1,Dustin Moskovitz,1,Dwyane Wade,1,Earnings,2,Earnings call,2,Eastern Conference (NBA),1,Ecolab,1,Economic inequality,1,Education,1,Ellen DeGeneres,1,Elon Musk,1,England,1,Entrepreneur,1,Entrepreneurs,3,Entrepreneurship,3,Equal Protection Clause,1,Establishment Clause,1,Evan Williams,1,Evangelicalism,1,Facebook,5,Falcon 9,1,FC Barcelona,1,Feature phone,1,Finances,4,Financial adviser,1,Financial planner,1,Financial statement,1,Finland,1,Folorunsho Alakija,1,Forbes,1,Foxconn,1,French Open,1,Garbiñe Muguruza,1,Gerald Celente,1,Global Positioning System,1,Golden State Warriors,1,Goodwill Shana,1,Government of India,1,Greatest Zimbabweans,4,Grey's Anatomy,1,Gross domestic product,1,Gucci Mane,1,Harare,3,Harold Hamm,1,Harvard Business Review,1,Harvard Business School,1,Harvard University,1,Health,1,Helena Blavatsky,1,Herman Chinery-Hesse,2,Hillary Clinton,3,History of the United States,1,Hong Kong,1,Hope Solo,1,How Tos,11,Human Potential Movement,1,Hwange National Park,1,India,1,Indian Premier League,1,Indiana,1,Initial public offering,1,Insurace,1,International Monetary Fund,1,Internet,1,Investment,1,IPhone,3,Jack Ma,8,Jeff Bezos,1,Jerry Robinson,1,Job Growth,1,Joint Chiefs of Staff,1,Kanye West,1,Kerry Washington,1,Kevin Durant,1,Killing of Cecil the lion,1,Kim Jong-un,1,Kim Kardashian,1,Kingfisher Airlines,1,Korean language,1,LeBron James,2,Leicester City F.C.,1,LinkedIn,2,Lionel Messi,1,Loan,1,London,1,Los Angeles,1,Louis Vuitton,1,LVMH,1,Make-up artist,1,Manchester,1,Manchester United,1,Manchester United F.C.,1,Mara Brock Akil,1,Maria Sharapova,1,Mark Zuckerberg,5,Massachusetts,1,Medium (TV series),1,Men In Business,43,Miami Heat,1,Michael Jackson,1,Michelle Obama,1,Microsoft,1,Microsoft Office 365,1,Microsoft Windows,1,Military parade,1,Millionaires,52,Minister of Finance (New Zealand),1,MiraCosta College,1,Mobile Web,1,Money,2,Monthly Active Users,1,Morgan Tsvangirai,1,Muhammad,1,Muhammad Ali,1,Muhammadu Buhari,1,Nashua River,1,National Basketball Association,2,Nativity scene,1,Net worth,1,New Corporation,1,New York Angela Merkel,1,New Zealand,1,News,37,Nigel Chanakira,1,Nigeria,1,Nokia,1,North Korea,1,Nuclear weapons testing,1,Oceanside,1,Oklahoma City Thunder,1,Olympic Games,1,Oprah Winfrey,1,Oprah Winfrey Network (U.S. TV channel),1,Paris,2,Patrick Awuah,2,Philip Chiyangwa,1,Politics,3,Pony Ma,1,Portugal national football team,1,Premier League,2,President of the United States,2,President Robert Mugabe,1,Priscilla Chan,1,Production company,1,Prophet Magaya,1,Prophet Uebert Angel,1,Publishing,1,Pyongyang,1,Real Madrid C.F.,1,Reality television,1,Reid Hoffman,1,Republican Party (United States),3,Retail and Wholesalers,1,Revenue,2,Richard Branson,2,Richest Person,5,Robert Kiyosaki,1,Robert Mugabe,1,Ronaldo,1,Rotary International,1,Roth IRA,1,Rubber duck,1,Russell Westbrook,1,Sacrifice Chirisa,1,Sales,2,Salesforce.com,1,Sam Neill,1,Sarah Huffman,1,Satya Nadella,1,Seoul,1,Serena Williams,1,Share (finance),1,Shingi Munyeza Articles,10,Shonda Rhimes,1,Simon Towns,1,Simpson Street,1,Slider,100,Small Business,3,SMEs,50,Social media,1,SoftBank,1,South Africa,1,South Bend,1,South Korea,1,SpaceX,1,Special drawing rights,1,Stanislas Wawrinka,1,Start Ups,3,Steve Ballmer,1,Steve Jobs,3,Steve Wozniak,1,Stockmarkets,1,Strive Masiyiwa Articles,21,Supreme Court of the United States,1,Taylor Swift,1,Tech Industry,1,Tencent Holdings,2,The Boston Globe,1,The Elkhart Truth,1,The Oprah Winfrey Show,1,Theresa May,1,Tips,60,Tokyo,1,Top Stories,9,Toronto,1,Toronto Raptors,1,Travis Scott,1,Twitter,3,United Kingdom,2,United States,8,United States Constitution,1,United States district court,1,United States Soccer Federation,1,Vending machine,1,Venice,1,Vice President of the United States,1,Wall Street,2,Warren Buffett,1,Wealth,3,Wealth management,2,Wealthy Women,20,Wet Reckless,1,Wither Hills Vineyards,1,Women In Business,31,Zane Lowe,1,Zimbabwe,6,Zinedine Zidane,1,
ltr
item
African Millionaires: Isabel dos Santos, dubbed 'princess', named Africa's first female billionaire
Isabel dos Santos, dubbed 'princess', named Africa's first female billionaire
Daughter of Angola's president of 33 years, Dos Santos is 'no role model' in an oil-rich state where most get by on $2 a day
http://1.bp.blogspot.com/-q06ob3xoqxk/VK-A-Qq5fuI/AAAAAAAAUsI/g1NfsG-VdoE/s1600/Jos--Eduardo-dos-Santos-A-010.jpg
http://1.bp.blogspot.com/-q06ob3xoqxk/VK-A-Qq5fuI/AAAAAAAAUsI/g1NfsG-VdoE/s72-c/Jos--Eduardo-dos-Santos-A-010.jpg
African Millionaires
http://africanmillionares.realinfozones.com/2015/01/isabel-dos-santos-dubbed-princess-named.html
http://africanmillionares.realinfozones.com/
http://africanmillionares.realinfozones.com/
http://africanmillionares.realinfozones.com/2015/01/isabel-dos-santos-dubbed-princess-named.html
true
3084929495899154524
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy