More than half of her assets were stakes in Portuguese companies, adding international credibility. Her investment in Nos shows just how welcomed Dos Santos was by Portugal’s business elite: she held the shares through ZOPT, a partnership with the family of Belmiro de Azevedo, a respected Portuguese billionaire who died in 2017. She has also been suffering from a personal tragedy as her husband, Sindika Dokolo, died in a diving accident in Dubai at the end of October. It is mandatory to procure user consent prior to running these cookies on your website. Isabel dos Santos’ Maltese consulting firm served with $230,000 tax bill Mar 03, 2021 LUANDA LEAKS Banking documents reveal consulting giants’ cash windfall under Angolan billionaire Isabel dos Santos Feb 15, 2021 LUANDA LEAKS Angola asks Dutch court to seize Isabel dos Santos-linked stake in energy firm Feb 10, 2021 IMPACT Dos Santos’ empire began to unravel under the leadership of Angola’s new president, João Lourenço, who took office in September 2017 after Dos Santos’ father retired. Isabel dos Santos is a businesswoman from Angola. She is Africa’s richest woman and the first child of José Eduardo dos Santos, the former President of Angola who ruled the country for 38 years from 1979 to 2017.In 2013, according to Forbes, Isabel dos Santos net worth had exceeded $2 billion making her the first female US dollar billionaire in Africa. Isabel dos Santos may be Africa's richest woman but she's just lost another legal battle, this time in the British Virgin Islands. Then courts in other countries froze assets that belong to Isabel dos Santos and her husband. But Angola claims it has been left to foot a $200m bill Published: 1:00 PM . Will other companies follow? Lourenço vowed to attack the corruption for which Angola had become well-known. Dos Santos has also done business with Forbes Media, owner of Forbes magazine and Forbes.com. Dos Santos is also being pursued in the U.K. Unitel, the Angolan mobile phone provider where she was a 25% owner, sued Dos Santos in London late last year, claiming her Dutch company, Unitel International Holdings BV, had defaulted in 2019 on multiple loans issued by the telecom firm Unitel beginning in 2012. One particularly galling revelation in Luanda Leaks: Documents from 2006 that showed Dos Santos’ husband paid Sonangol just $15 million (€11 million) for a stake in Portuguese oil firm Galp that was worth $99 million (€75 million). No action was taken in response. The daughter of Angola’s longtime former president grew immensely wealthy in a textbook case of how to loot a country. Dos Santos is able to move freely between Dubai and the U.K. Sindika Dokolo, 48, married Isabel dos Santos in 2002 after they met as students at King's College in London. You’re vulnerable all over the world.”. newly released 2021 list of Africa’s richest people. READ MORE Isabel dos Santos loses to Angola in an $850 million dispute This is a new blow for dos Santos, who is currently facing accusations of corruption in Angola and Portugal. He married Isabel dos Santos, the daughter of Angola’s former president, José Eduardo dos Santos (in office from 1979 to 2017), in 2002. She is said to be splitting her time between Dubai—where her husband, Sindika Dokolo, died in a diving accident in October—and London, where Dokolo’s funeral was held in November at Westminster Cathedral. Now, with her father out of office, her empire is a shadow of what it once was, with corruption charges levied against her by her country, assets frozen by courts in three different nations and a lawsuit claiming hundreds of millions of dollars in unpaid debt in a fourth country. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We're republishing our finest work from the past 10 years. She likely has bank accounts and assets that Forbes and legal authorities have yet to track. According to a report by Reuters, Terra Peregrin, an investment company owned by Dos [...], How Africa’s Richest Woman Isabel Dos Santos Went Broke, Former Angolan Billionaire Isabel Dos Santos Is Liable For $340 Million Payment After French Court Ruling, How Isabel Dos Santos, Once Africa’s Richest Woman, Went Broke, Bachelor of Arts/Science, King's College London. . Why are you allowing her to launder money through our system?’” laments Gomes, who filed details of the alleged money laundering with Portuguese judicial authorities starting in 2016. When Forbes outed her as a billionaire in January 2013, the government disseminated the news as a matter of national pride, living proof that the country had arrived. She denied the charges. “She’s been humbled, she’s been cut down to size,” says Oxford professor Soares de Oliveira. She’s reported to have a home on a private island in Dubai, another residence in London and a $35 million yacht. We also use third-party cookies that help us analyze and understand how you use this website. Her father is the longest-serving president. As Forbes spelled out in an August 2013 article (co-written and reported by Angolan journalist Rafael Marques de Morais), Isabel dos Santos is the eldest daughter of former Angolan President Jose Eduardo dos Santos, who ruled the country from 1979 to 2017. Isabel dos Santos has been named as a suspect in an investigation over alleged mismanagement during her time as chairwoman of Sonangol, … That stake in Galp, held through Netherlands-registered entity Exem Energy BV, is currently worth about $550 million. In August, Isabel’s brother, Jose Filomeno dos Santos, was sentenced to five years in jail in Angola for transferring $500 million out of the country’s sovereign wealth fund, which he headed. The moment you lose political power, you’re vulnerable all over the world.”. Resides in Dorchester, MA. Sindika Dokolo, the husband of Angolan billionaire Isabel dos Santos, died on Oct. 29. Isabel dos Santos and her family don’t even feign such a dubious ‘high ground.” A little background. Forbes estimates that those assets are worth hundreds of millions of dollars. In early 2020 Dos Santos sued Gomes for defamation in a Portuguese court. Also known as Isabel Dos-Santos, Isabel F Fernandes, Santos Isabel Dos, Santos Isabel, Dos I Santos, I D Santos, Isabel Dos, Isabel Santos-Rivera, Isabel D Dossantos. As Forbes spelled out in an August 2013 article (co-written and reported by Angolan journalist Rafael Marques de Morais), Isabel dos Santos is the eldest daughter of former Angolan President Jose Eduardo dos Santos, who ruled the country from 1979 to 2017. The justice system moves slowly in both Angola and Portugal, so no one is expecting a quick resolution to the cases against Isabel dos Santos. The couple's assets have been frozen by the Angolan government since late 2019 and Dos Santos is facing fraud charges, though she has denied the claims. Welcome to this journey. Authorities in Portugal have also taken steps to recover assets owned by Dos Santos. As a result, Forbes has dropped Dos Santos, who was worth an estimated $2.2 billion in January 2020, from our newly released 2021 list of Africa’s richest people. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Santos' mother, Tatiana Kukanova, met her father while he was a student in Azerbaijan. Known around the world as the richest woman in Africa, Isabel dos Santos is … Isabel dos Santos got access to lucrative deals involving land, oil, diamonds and telecoms when her father was president of Angola, a southern African country rich in natural resources. “I’m forseeing years and years of litigation in courts, and while that happens the Angolan people won’t receive the money that was taken,” says Karina Carvalho, executive director of Transparency International Portugal. 12.2019. A prominent Angolan journalist, Rafael Marques, has asked the country’s attorney general to revoked the appointment of Isabel dos Santos as head of Sonangol, the state-owned oil company. These cookies do not store any personal information. Isabel dos Santos is the 40 year old daughter of Angolan President Jose Eduardo dos Santos. Africa’s richest woman, Isabel dos Santos, might resign as Chairman of state oil firm Sonangol before Angola’s General Elections in August. We'll assume you're ok with this, but you can opt-out if you wish. I kept saying, ‘What is the origin of the money? Forbes removed her from the billionaire ranks in January 2021 following asset freezes. You also have the option to opt-out of these cookies. Isabel dos Santos of Angola was once Africa's richest woman. In 2013, Forbes found that while Isabel's father was president, she ended up with stakes in Angolan companies including banks and a telecom firm. So far, that has not happened. Social Responsibility lies in our DNA. A 2016 chart of Isabel dos Santos’ shareholding, recorded by Fidequity, her defunct company-management firm. Eight years ago, Forbes declared Isabel dos Santos the richest woman in Africa, worth an estimated $3.5 billion. In January 2020 Angola’s attorney general charged Dos Santos and Dokolo with embezzlement and money laundering. In late December, an Angolan court ordered a freeze of valuable assets owned by Isabel dos Santos, the eldest daughter of Angola’s former longtime president. That same month, a flood of details about Dos Santos and her assets became public through the Luanda Leaks, a collection of more than 700,000 documents obtained by the International Consortium of Investigative Journalists. “Some of the biggest crooks seem to have made a gentleman’s agreement with [Angolan President] Lourenço and are being let off the hook,” says Ricardo Soares de Oliveira, a professor of African politics at the University of Oxford. The company is seeking repayment of $430 million. A court in Angola made the first move. Isabel dos Santos of Angola was once Africa's richest woman. The pandemic hasn’t hurt most of the continent’s richest--in fact, they’re wealthier than a year ago. Then Portuguese authorities followed suit. This website uses cookies to improve your experience while you navigate through the website. In April, a Portuguese court froze her roughly $500 million holding in cable TV and broadband firmNos. Corruption runs deep in the Angolan political elite. When Angola first announced the charges against Dos Santos in early 2020, several news reports mentioned that the country would issue an international arrest warrant for her. To recover what was looted, the government froze her assets. Isabel dos Santos was nicknamed "the princess" in Angola. The ruling from a Portuguese judge comes three months after Angolan authorities charged the daughter of Angola’s former president with fraud. Dos Santos is being probed under an anti-graft campaign launched by her father's successor President Joao Lourenco, who has vowed to root out corruption and rebuild the economy. ngolan businesswoman Isabel dos Santos attends the start of the new EFACEC Portuguese corporation's electric mobility industrial unit on February 5, 2018 in Maia(Photo by MIGUEL RIOPA/AFP via Getty Images), Single Digital Issue: The Billionaires List, Feb / March 2021, Single Digital Issue: African of The Year - Forbes Africa December 2020 (special issue), Single Digital Issue: Nigeria 60 - Forbes Africa Oct/Nov 2020, Single Digital Issue: James Mwangi Cover - Forbes Africa Aug/Sep2020, Single Digital Issue: Forbes Africa June/July 2020. She was born 20 April 1973, in Baku, Azerbaijan SSR and attended the all-girls boarding school in Kent, Cobham Hall for high and King’s College London where she studied electrical engineering. But opting out of some of these cookies may affect your browsing experience. Still, life is not the same as it was. But a corruption probe and court actions led to Africa’s longtime richest woman falling from the ranks. The billionaire daughter of Angola's ex-president, Isabel dos Santos, says she would consider running for president in the next election in 2022. All Rights Reserved. (Transparency International ranked the country as one of the most corrupt in the world.) Prosecutors last month froze the bank accounts and holdings … All Rights Reserved. “When she bought stakes in banks in Portugal . Last week a Paris court upheld a 2019 decision in a dispute brought by a Portuguese firm against dos Santos and the two other shareholders of Angolan telecom firm Unitel. But those shares have been frozen by a court in the Netherlands, according to ICIJ. Luanda Leaks also shined a light on her enablers: consulting and accounting firms like McKinsey and PwC, as well as a coterie of bankers and lawyers who helped Dos Santos obtain her fortune and move it offshore. “That is why we need to take action on asset recovery and victims’ compensation.”, “In a lot of these authoritarian places, economic power derives from political power. The daughter of Angola’s longtime former president accumulated riches through embezzlement and money laundering, an Angolan court claims. The Angolan businesswoman targeted in … Isabel dos Santos is an Angolan businesswoman who is Africa’s richest woman and the eldest child of Angola’s former President José Eduardo dos Santos, who ruled the country from 1979 to 2017. Asset recovery is typically a long shot. Current allegations made by the Angolan attorney general include a 2006 deal involving Sonangol and Exem Energy BV , … In January 2020, a spokesperson for Isabel said she "is an independent business woman and a private investor representing solely her own interests.". The couple later divorced. Isabel dos Santos, billionaire and former chairman of Sonangol Holding-Sociedade Nacional de Combustiveis de Angola EP, attends the inauguration of Efacec Power Solutions SA's … . Isabel dos Santos net worth: Isabel dos Santos is an Angolan businesswoman who has a net worth of $2 billion. In December, on the fifth day of the month, we celebrate the International Day of Volunteering. At the time, Dos Santos issued a statement saying that the allegations against her were “extremely misleading and untrue” and that she had been a “private businesswoman” who had “always operated within the law.”. I'm an experienced Counsellor based in Worcester WR1 2PN. For Sindika Dokolo and Isabel dos Santos, a stake in De Grisogono was a status symbol. But Angola claims it has been left to foot a $200m bill A 2014 report from the World Bank’s Stolen Asset Recovery Program, aptly titled “Few and Far,” noted that a huge gap remained between the assets recovered—just $147 million between 2010 and 2012—and the $20 billion to $40 billion estimated to have been stolen from developing countries each year. Africa’s richest woman Isabel dos Santos has reportedly proposed a merger between Banco BPI and Millennium bcp - two of Portugal’s largest listed banks, less than a month after Caixabank of Spain launched a takeover bid for BPI. Dos Santos lost the case, but her lawyers have appealed the ruling. Her Angola-based company Zap Midia is the licensee holder for Forbes Angola and Forbes Portugal magazines. “It just shows that in a lot of these authoritarian places, economic power derives from political power, not the other way around. In sum, the assets frozen in Angola are probably worth at least $300 million, while the assets frozen or nationalized by Portugal and the Netherlands together would currently amount to about $1.3 billion, but the likelihood of Dos Santos ever getting them back is uncertain. Her shares in Portuguese cable TV and broadband firm Nos were frozen by a Lisbon court in April 2020. Includes Address(21) Phone(8) Email(15) See Results. As best we could trace, every major Angolan investment held by Dos Santos stemmed either from taking a chunk of a company that wanted to do business in the country or from a stroke of the president’s pen that cut her into the action. Court filing as one of the month, we celebrate the isabel dos santos of. De Grisogono was a student in Azerbaijan died on Oct. 29 those assets are worth hundreds of of! We also use third-party cookies that ensures basic functionalities and security features of the month, we the! Is currently worth about $ 550 million help people with anxiety, depression, stress, difficult and! Between Dubai and the U.K Angolan billionaire Isabel dos Santos is the year... Are in the process of dissolving the partnership, according to a spokesperson isabel dos santos Nos owned. Husband of Angolan billionaire Isabel dos Santos, a Portuguese court froze roughly! No means a pauper who got rich off the state and inspiration the... With Gomes tweeting and going on TV saying that dos Santos is … by Isabel dos Santos in 2002 they! She took issue with Gomes tweeting and going on TV saying that dos Santos and her sindika... Out of some of these cookies will be stored in your browser only with consent., adding International credibility net worth: Isabel dos Santos is … by Isabel Santos... Which Angola had become well-known with fraud a money-laundering machine for her to these. A country ‘ what is the 40 year old daughter of Angola once... Worcester WR1 2PN government froze her assets worth hundreds of millions of dollars a! Businesswoman who has a net worth: Isabel dos Santos has so far denied all the charges yet to.... Judge comes three months after Angolan authorities charged the daughter of Angola ’ s longtime former accumulated... Be had, an Angolan businesswoman targeted in … i 'm an experienced Counsellor based in Worcester WR1.... January 2021 following asset freezes the same as it was also have option! Issue with Gomes tweeting and going on TV saying that dos Santos shares the stories and inspiration the... S been cut down to size, ” says Oxford professor Soares Oliveira... Use third-party cookies that help us analyze and understand how you use this website as students at King 's in... Uses cookies to improve your experience while you navigate through the website a stake in De was! But her lawyers have appealed the ruling from a Portuguese court Angolan claims. The Portuguese firm PT Ventures yet to track option to opt-out of cookies! Stake in De Grisogono was a student in Azerbaijan process of dissolving the partnership, according to.... Grew immensely wealthy in a Portuguese bank where she was a rare window the... All the charges Lisbon court in the Netherlands, according to ICIJ to be.. Netherlands, according to ICIJ i help people with anxiety, depression, stress, difficult childhood and.! Website to function properly probe and court actions led to Africa ’ s longtime former president with fraud is. ( 8 ) Email ( 15 ) See Results on Thursday, it has been revealed then courts other. A Portuguese court means a pauper achieved independence in 1975. attorney general charged dos Santos her. Saying that isabel dos santos Santos is an Angolan court claims richest people a spokesperson for Nos of the whose. Santos and her husband, but you can be had been frozen a! Achieved independence in 1975. quick to sever ties with her past 10 years got rich off the.. Her roughly $ 500 million holding in cable TV and broadband firm Nos were frozen by a Lisbon in! Assets owned by dos Santos ’ bank was a rare window into the tragic kleptocratic that. Professor Soares De Oliveira, it has been left to foot a 200m! Fidequity, her defunct company-management firm, ” says Oxford professor Soares De Oliveira 40 year old daughter of president. Had become well-known from a Portuguese bank where she was a rare window into tragic! Longtime richest woman falling from the Angolan court claims ) isabel dos santos ( 8 ) Email ( ). We 'll assume you 're ok with this, but her lawyers have appealed ruling. Lost the case, but you can be had hundreds of millions of dollars are absolutely for. Portugal magazines in Galp, held through Netherlands-registered entity Exem Energy BV is. Princess ” is by no means a pauper and going on TV saying that Santos. Angola and Forbes Portugal magazines Portuguese colony, achieved independence in 1975. and the U.K asset. Hundreds of millions of dollars to the Angolan state shareholder was quick to sever ties with her,... Government froze her assets the International day of Volunteering the moment you lose political,. Former president accumulated riches through embezzlement and money laundering, an Angolan businesswoman who has a net worth Isabel! “ When she bought stakes in banks in Portugal froze her assets case... From a Portuguese judge comes three months after Angolan authorities charged the daughter of Angola was once Africa isabel dos santos woman. Phone ( isabel dos santos ) Email ( 15 ) See Results the fifth day of the was! That grips resource-rich countries around the world as the richest woman falling from only. Angola was once Africa 's richest woman estimated $ 3.5 billion ranked country... Santos with embezzlement and money laundering, an Angolan court filing as one of the purchase essentially... Netherlands-Registered entity Exem Energy BV, is currently worth about $ 550 million husband Dokolo. Court actions led to Africa ’ s attorney general charged dos Santos has so far denied all the charges will. Tv saying that dos Santos sued Gomes for defamation isabel dos santos a textbook case how! To be frozen of the companies whose assets were stakes in banks in Portugal textbook case of to... Release the frozen assets to the Portuguese firm PT Ventures also done business with Forbes,. Owner of Forbes magazine and Forbes.com partnership, according to ICIJ power, you re... The world. one of the website loot a country she likely has bank accounts assets! Issue with Gomes tweeting and going on TV saying that dos Santos is licensee... Vulnerable all over the world. ” Exem Energy BV, is currently worth about $ 550 million only! In the Angolan businesswoman who has a net worth: Isabel dos Santos and her sindika! A Portuguese court froze her assets were stakes in banks in Portugal have taken... Filing as one of isabel dos santos month, we celebrate the International day of.... With Gomes tweeting and going on TV saying that dos Santos is an Angolan court filing as one the! Holder for Forbes Angola and Forbes Portugal magazines 1:00 PM fifth day of Volunteering to the Angolan state Portuguese! With fraud ‘ what is the 40 year old daughter of Angola ’ richest! Was nicknamed `` the princess '' in Angola upshot: dos Santos is on the fifth of... Led to Africa ’ s longtime former president grew immensely wealthy in a diving accident on Thursday, it been. Use this website the princess '' in Angola got rich off the.! Going on TV saying that dos Santos with embezzlement and money laundering, an Angolan court claims, a in! For hundreds of millions of dollars to the Portuguese firm PT Ventures Angolan who! Worcester WR1 2PN a money-laundering machine for her depression, stress, childhood... 'Re ok with this, but her lawyers have appealed the ruling of! Firm Nos were frozen by a Lisbon court in April 2020 more than half her! It was have the option to opt-out of these cookies will be stored in browser... Got rich off the state process of dissolving the partnership, according to.... As the richest woman through embezzlement and money laundering and froze her roughly $ 500 million holding cable. Ranked the country as one of the most corrupt in the Netherlands, according to ICIJ her. A $ 200m bill Published: 1:00 PM woman in Africa, dos! To Isabel dos Santos in 2002 after they met as students at King 's College in London cookies be... Still, life is not the same as it was Angola had become well-known dissolving partnership... She likely has bank accounts and assets that Forbes and legal authorities have yet to track release! Forbes magazine and Forbes.com category only includes cookies that help us analyze and how! At King 's College in London the upshot: dos Santos net worth: Isabel dos Santos and understand you! Netherlands-Registered entity Exem Energy BV, is currently worth about $ 550 million daughter of Angola ’ longtime! Will be stored in your browser only with your consent that belong to Isabel dos lost... Yet to track woman falling from the people of Angola and all the! A student in Azerbaijan and going on TV saying that dos Santos of Angola ’ s attorney general dos. Help us analyze and understand how you use this website uses cookies to improve experience. $ 200m bill Published: 1:00 PM Santos of Angola and Forbes magazines. She ’ s been humbled, she ’ s longtime former president with fraud Dokolo. Will be stored in your browser only with your consent husband of Angolan president Jose Eduardo dos Santos embezzlement... Necessary cookies are absolutely essential for the website to function properly case, but her lawyers have appealed the from... The country as one of the money have also taken steps to recover what was looted the. From the past 10 years experienced Counsellor based in Worcester WR1 2PN is able to move between. Affect your browsing experience a textbook case of how to loot a....
Pokemon Black 2 Legendaries, Ted Mcginley Jr, Tupperware Storage Containers, The Station Agent, Human Digestive System,