Isabel dos Santos, Africas first female billionaire and the eldest daughter of Angolas former president Jos Eduardo dos Santos, secured a significant legal victory this week after the Angolan Supreme Court cleared her of three of the 11 criminal charges she has faced for years. The ruling marks one of the most notable shifts in her long-running dispute with authorities over her management of Sonangol, Angolas state oil company.
Billionaire status shadowed by fraud allegations
Dos Santos, who was once one of Africas top business figures, rose to global prominence in 2013 when she was recognized as the continents first female billionaire. But her fortune and reputation came under pressure after Angolas government accused her and her late husband of diverting as much as 1 billion from state entities during her fathers nearly four decades in power. Her father, who ruled from 1979 until stepping down in 2017, died in July 2022.