Aliko Dangote remains Africa’s richest man, with a net worth of $13.4 billion and ranking 144th internationally. His financial empire is based on Dangote Industries, a multinational located in Lagos, Nigeria.
Forbes recently released its 38th Annual World’s Billionaires List.
Forbes created the most recent list of billionaires using stock prices and exchange rates from March 8, 2024.
The 66-year-old millionaire makes the most of his income from his 86% interest in publicly traded Dangote Cement, which reached a market capitalization of N10 trillion this year, making it the first Nigerian company to accomplish this milestone.
Forbes reported a record-breaking 2,781 billionaires worldwide, 141 more than in 2023 and 26 more than the previous record established in 2021.
The super-rich are also wealthier than ever, with their combined fortune reaching $14.2 trillion—$2 trillion more than a year ago and $1.1 trillion more than the previous record, which was set in 2021.
Africa, like the rest of the world, has seen tremendous activity in the billionaire arena, with some billionaires climbing in rank, others falling, newcomers joining the list, and some dropping off entirely.
In 2024, Johann Rupert & Family had a net worth of $10.3 billion, making them the richest in Africa. Aliko Dangote was not far behind, with $9.5 billion to his name.
However, the position has since altered, with Dangote’s fortune now worth $13.4 billion and Rupert & Family lagging with $12.2 billion.
Nicky Oppenheimer & Family, with $9.5 billion from South Africa’s diamond industry, ranked 249th on the list.
Nassef Sawiris from Egypt ranks 287th with $8.8 billion.Nathan Kirsh from Eswatini (Swaziland) ranks 373rd, with $7.2 billion.Mike Adenuga of Nigeria is ranked 409th with $6.7 billion.
Abdulsamad Rabiu, another Nigerian, ranks 581st with $5.2 billion, mostly from cement and sugar industries.
Egyptian Naguib Sawiris has the 835th position with $3.8 billion.Mohamed Mansour, who has diverse commercial interests in Egypt, is ranked 991st with $3.3 billion. Koos Bekker, who was not among the top ten richest at the start of 2024, now ranks 1256th with a net worth of $2.6 billion.
| Rank | Name | Net worth | Country | Industry | Global rank |
|---|---|---|---|---|---|
| 1 | Aliko Dangote | $13.4 billion | Nigeria | Cement, Sugar | 144th |
| 2 | Johann Rupert & Family | $12.2 billion | South Africa | Luxury goods | 162nd |
| 3 | Nicky Oppenheimer & Family | $9.5 billion | South Africa | Diamonds | 249th |
| 4 | Nassef Sawiris | $8.8 billion | Egypt | Construction and investments | 287th |
| 5 | Nathan Kirsh | $7.2 billion | Eswatini (Swaziland) | Retail, real estate | 373rd |
| 6 | Mike Adenuga | $6.7 billion | Nigeria | Telecom, oil | 409th |
| 7 | Abdulsamad Rabiu | $5.2 billion | Nigeria | Cement, Sugar | 581st |
| 8 | Naguib Sawiris | $3.8 billion | Egypt | Telecom | 835th |
| 9 | Mohamed Mansour | $3.3 billion | Egypt | Diversified | 991st |
| 10 | Koos Bekker | $2.6 billion | South Africa | Media, investments | 1256th |