Isabel dos Santos, once celebrated as Africa's richest woman, has seen her fortunes wane dramatically in recent years following allegations of corruption, legal battles and asset freezes.

Her removal from Forbes’ billionaire rankings in January 2021 marked a significant turning point in the saga of the 51-year-old Angolan entrepreneur.

Dos Santos, the eldest daughter of Jose Eduardo dos Santos, Angola’s president from 1979 to 2017, amassed her wealth through stakes in various Angolan companies, including banking, telecommunications and the state oil company Sonangol.

Her financial prominence was first acknowledged by Forbes in 2013, with the publication tracing her wealth back to deals made during her father’s presidency.

In addition to her holdings in Angola, Isabel expanded her business empire to Portugal, securing significant stakes in companies like the cable TV and broadband firm Nos.

By 2020, she was listed as the 13th richest African and ranked 1513 on Forbes’ global billionaire list, with her wealth primarily derived from investments.

Despite her financial success, Isabel's meteoric rise came under intense scrutiny.

In January 2020, Angolan authorities charged her with embezzlement and money laundering.

Her assets, including those in Portugal, were frozen, dealing a severe blow to her financial standing.

The charges, which Dos Santos denies, stemmed from allegations that she exploited her father’s political influence for personal gain.

One of the most contentious decisions of her career was her appointment as head of Sonangol, Angola's state oil company, in June 2016. Critics argued that the move epitomised nepotism under her father’s regime.

After her father stepped down in 2017, Angola’s new president, Joao Lourenco, removed Isabel from the role in November of that year and launched a sweeping anti-corruption campaign targeting the former president’s inner circle.

The legal challenges Dos Santos faces have led to the freezing of significant portions of her wealth.

In January 2021, Forbes concluded that her assets were no longer independently verifiable due to the freezes and dropped her from its billionaire rankings.

Dos Santos, who resides in Luanda, Angola, has consistently maintained her innocence.

Through a spokesperson, she described herself as “an independent businesswoman and a private investor representing solely her own interests.”

Her father passed away in July 2022, leaving behind a complex legacy intertwined with his daughter’s rise and fall.