Isabel dos Santo has joined the world’s richest black woman Folorunsho Alakija of Nigeria as one of the first two women members of the Forbes Africa’s 40 Richest. Isabel dos Santos, a daughter of Angola’s President Jose Eduardo dos Santos, is an entrepreneur and investor.
Isabel Dos Santos joins the Forbes list of Africa’s 40 Richest after having increased her private equity firm’s stake in Portugal’s ZON Multimedia, a cable TV and Internet company, to nearly 19% over the summer. A separate entity she controls owns an additional 10% of ZON. According to Forbes, Dos Santos is also an investor in Banco BPI of Portugal, and a board member and investor in Banco BIC Portugues, which recently acquired Banco Portugues de Negocios, a nationalized bank. At the age of 24, she leveraged her father’s position to corner lucrative state contracts such as the exclusive rights to cleaning and disinfecting Luanda and other cities.
dos Santos is a graduate of King’s College in London, where she studied engineering. While in London, Miss dos Santos lived with her mother, who is divorced from President dos Santos. She started her business career in 1997, at age 24, opening a restaurant in Luanda (the Miami Beach). She worked as an engineer and project manager of Urbana 2000, a subsidiary of Angola’s Jembas Group in the early part of 1990s.
Isabel’s father has been President of Angola, an oil rich country with estimated poverty of 40%, since 1979 – just four years after Angola became independent from the Portuguese.
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