3rd Frank Timis €650 million
On the third place, is the businessman who now lives at London, Frank Timis. He is the owner of African Minerals which operates in Africa.
His fortune also dropped compared with the 2011 Forbes top, from 1.2 billion to 650 million euro.
Three years ago, he discovered in the South African state- Sierra Leone one of the biggest iron deposits from the African continent with reserves estimated to 12.8 billion tons.
In 2011, African Minerals sold 25% of the project to the Chinese people (Shandong Iron & Steel Group) for 1.5 billion of dollars.
A part of that money entered to Frank’s pockets and that’s why he is still one of the richest people in Romania.
