Who knew? Swaziland: Swazi King Third Richest in Africa

King Mswati III of Swaziland is Africa’s third wealthiest monarch with a personal fortune of US50 million, even though more than 65 percent of his 1.3 million subjects are forced to scrape by on less than $1.25 a day, according to new data published by Forbes magazine.

The fortune does not include the estimated US$140 million he holds through the conglomerate Tibiyo TakaNgwane, that he supposedly ‘holds in trust’ for the Swazi nation.

King Mswati III, who rules as sub-Saharan Africa’s last absolute monarch, owns 13 palaces, a private jet airplane, fleets of Mercedes and BMW cars and at least one Rolls Royce, while the majority of his subjects rely on some form of food aid to avoid hunger. At least 40 percent of the working population is unemployed.

Forbes, in an analysis of the richest monarchs in Africa reported that the King was ‘more well known for his relationships with women (he had at least 15 wives at the last count), and for his flamboyant parties’.

It added, ‘He turned 46 recently, with his birthday coinciding with the Christian Easter holidays. Not willing to share the spotlight with Jesus, King Mswati postponed his birthday celebrations for five days so that a proper national holiday could be held in his honor.

‘American R&B artist Erykah Badu performed for the King during the expensive celebrations, irking thousands of human right activists.’

Forbes reported, ‘The King is one of Africa’s wealthiest royals. His personal net worth is at least $50 million, based on the annual $50 million salary that he is paid out of government coffers.

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Categories: The Elite, or “TPTB”

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2 replies

  1. I think that it’s a crued fact that King Mswati III is greedy. His father was far more modest. He even put his children to public schools. That won’t happen with Mswati. I just recently blogged about the food aid Swaziland is getting: http://justapieceofafrika.wordpress.com/2014/03/22/need-for-aid/

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