Though they are still below their all-time highs, the fortunes of Africa’s richest people have somewhat recovered over the past 12 months, reversing their drop from a year earlier. Comprising $82.4 billion, the twenty billionaires on the Forbes list of Africa’s Richest are That increases $900 million from the $81.5 billion from last year.All of that progress can be ascribed to the comeback of Femi Otedola, who last showed up on the Forbes Africa list in 2017 while holding a majority share in fuel distributor Forte Oil. Using a Forte subsidiary to buy Geregu, a public power generating facility, Oxtola phased out his oil stakes during a government drive to privatize the nation’s energy sector in 2013. About 90% of Geregu when it was listed on the Main Board of the Nigerian Exchange in 2022, he owned, but he has subsequently sold shares to institutional investors including the State Grid Corporation of China and the Fund for Export Development in Africa.About three-quarters of his $1.1 billion wealth, his 73% share in Geregu is valued more than $850 million, so ranks No. 20 on the list. Africa’s billionaires dropped somewhat but still performed better than the 4% drop last year, when African markets fell in line with global equities values, considering Oxtola’s comeback. With the S&P All Africa index climbing 10% in the last two months of 2023 but still ending down more than 9% in the 12 months through January 8, 2024 African equities joined a late-year worldwide surge this year.
List Of The Top 10 Richest People In Africa
1. Johann Rubert – $14.1 Billion
Rupert’s estimated net worth as of 29 August 2024 was $14.1 billion, up $1.7 billion year-to- day (YTD). With this net worth, he and his family rank 147th worldwide and the richest on the continent. In the luxury goods, food, media and broadcasting, private healthcare, tobacco, and telecoms sectors Rupert developed a corporate empire on a broad spectrum of products and services. Originally studying economics at the University of Stellenbosch, the businessman dropped out to work for his father’s company in 1984. From his father, Anton Rupert, he inherited the family firm and has developed it from largely tobacco to become a multi-billion dollar luxury products venture. Johann spun off Rembrandt’s worldwide assets to form Swiss luxury goods holding company Compagnie Financiere Richemont after joining his father’s business. Among the brands this new corporation owns are Montblanc and Cartier.
2. Aliko Dangote – $13.4 Billion
The Nigerian industrial magnate Dangote was recognized by Forbes magazine as the wealthiest individual in Africa in the month of January. This achievement marks the thirteenth year in a row that he has held this title simultaneously. Because of the economic challenges that have been affecting Nigeria, his net worth has declined by $1.71 billion this year. This is a direct outcome of the economic climate in Nigeria. Due to this, his net worth has climbed to a total of $13.4 billion. This positions him as the second richest person in Africa and the 158th richest person in the world.
3. Nicky Oppenheimer – $11.3 Billion
Nicky Oppenheimer, who was born in South Africa, is currently regarded as the third wealthiest individual in Africa. This is a claim that has gained widespread acceptance. During the course of this year, his estimated net worth has increased by $1.45 billion, bringing it to a total of $11.3 billion. As a result, his total net worth is now estimated to be $1.3 billion. As a consequence of this, he is currently currently listed as the 214th richest person in the entire world.
4. Nassef Sawiris – $9.3 Billion
Nassef Onsi Sawiris, who was born on January 19, 1961, is an Egyptian businessman. He is the youngest of Onsi Sawiris’ three sons, with Naguib and Samih being his brothers. It was projected that his net worth was $9.3 billion US dollars as of October 2021, making him the richest Egyptian. The Deutsche Evangelische Oberschule Kairo was the institution where Nassef Sawiris completed his secondary school. After that, he studied economics at the University of Chicago, where he eventually earned a bachelor’s degree in the subject in the year 1982.
5. Mike Adenuga – $6.9 billion
According to Forbes, Chief Michael Adeniyi Agbolade Ishola Jr. CSG GCON, a Nigerian billionaire businessman who was born on April 29, 1953, is ranked sixth in Africa with an estimated net worth of $6.9 billion. He was born in Nigeria. Globacom, his company, is the second largest telecom operator in Nigeria. In addition, it has a presence in Benin and Ghana to supplement its activities in those countries. He has a portfolio of investments that includes both the Equitorial Trust Bank and the oil exploration company Conoil, which was formerly known as Consolidated Oil Company. Both of these companies are part of his portfolio.
6. Abdulsamad Rabiu – $4.6 Billion
With an estimated net worth of $4.6B, Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate engaged in real estate, sugar refining, and cement manufacturing. Early in January 2020, Rabiu combined his privately held Obu Cement company with listed enterprise Cement Co. of Northern Nigeria under his ownership. Rabiu owns 98.2% of the combined company, BUA Cement Plc, which trades on the Nigerian stock market. He also owns 95% of BUA Foods, a publicly traded food company. Son of a businessman, Rabiu received property from his father. In 1988 he opened his own company importing chemicals, iron, and steel.
7. Naguib Sawiris – $3.8 Billion
It is said that Naguib Sawiris is the scion of Egypt’s most prosperous family. It is also said that his brother Nassef is a billionaire. Through the sale of Orascom Telecom to the Russian telecom company VimpelCom (now Veon) in 2011, he amassed a fortune in the field of telecommunications. The transaction was worth several billions of dollars. He is the chairman of Orascom TMT Investments, which is a corporation that has investments in a number of different companies, including an asset management in Egypt and an Italian internet company called Italiaonline. On the island of Grenada, which is located in the Caribbean, he also established a luxurious resort known as Silversands. As of 2024, it is projected that his net worth is somewhere about $3.8 billion.
8. Mohamed Mansour – $3.3 Billion
The Mansour Group, which was established in 1952 by Mohamed Mansour’s father Loutfy (who passed away in 1976), is a family-owned and operated business that currently employs sixty thousand people. During the year 1975, Mansour launched General Motors dealerships in Egypt, and he went on to become one of the largest distributors of GM products worldwide. Additionally, the Mansour Group holds the sole distribution rights for Caterpillar equipment in Egypt as well as seven other countries in Africa. Between the years 2006 and 2009, Mansour, who holds citizenship in both Egypt and the United Kingdom, was Egypt’s Minister of Transportation. He held this position during the dictatorship of Hosni Mubarak. It is worth noting that his brothers Yasseen and Youssef, who are also billionaires, are also members of the family group, and that his son Loutfy is the chairman of the private equity branch of Man Capital. As of the year 2024, his net worth is approximately $3.3 billion.
9. Koos Bekker – $2.4 billion
Jacobus Petrus “Koos” Bekker is a South African businessman who was born on the 14th of December in 1952. He is currently the chairman of the media company Naspers and commands a net worth of one billion dollars. In addition to being listed on the London Stock Exchange and the Johannesburg Stock Exchange, the corporation is established in over 130 different countries and conducts operations in those countries. It has the biggest market valuation when compared to other media firms that are not based in their respective countries of China, India, or the United States. As of July 2023, it was anticipated that his net worth would amount to $2.4 billion, according to different estimations.
10. Patrice Motsepe – $2.7 billion
A South African millionaire businessman and football administrator, Patrice Tlhopane Motsepe was born on January 28, 1962. He is a football administrator. It was in March of 2021 when he was appointed to the position of president of the Confederation of African Football. The company African Rainbow Minerals, which includes interests in gold, ferrous metals, base metals, and platinum, was founded by him, and he currently serves as the executive chairman of the company. In addition to serving as the non-executive chairman of Harmony Gold, which is the world’s 12th largest gold mining business, he also serves as the deputy chairman of Sanlam. He is a member of the boards of directors of various companies. His position at the World Economic Forum is that of a member of the Board of Trustees. With a personal wealth that is projected to be $2.7 billion.
