The African continent is home to 46 billionaires, the second-lowest total of any global region.
The number of wealthy individuals in Africa is growing, however. Total private wealth is expected to rise 30% over the next decade, led by growth in the billionaire and millionaire segments.
Visualized here are Africa’s richest, using data collected by Forbes, on billionaires who reside on the continent and have their primary business there.
Breaking Down Africa’s Billionaires
The richest man in Africa is also the richest Black man in the world. Once a small sugar trader, Aliko Dangote now has a net worth of $13.5 billion. He is the 86th richest person in the world, and single-handedly makes up 25% of the total wealth of African billionaires.
His company, the Dangote Group is now an African conglomerate with interests in a range of sectors, including sugar, cement, and real estate.
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| Rank | Name | Net Worth (billions, USD) | Industry | Citizenship |
|---|---|---|---|---|
| 1 | Aliko Dangote | $13.5 | Manufacturing |  Nigeria |
| 2 | Johann Rupert & family | $10.7 | Fashion & Retail |  South Africa |
| 3 | Nicky Oppenheimer & family | $8.4 | Metals & mining | South Africa |
| 4 | Abdulsamad Rabiu | $7.6 | Diversified | Nigeria |
| 5 | Nassef Sawiris | $7.3 | Construction & Engineering |  Egypt |
| 6 | Mike Adenuga | $6.3 | Diversified | Nigeria |
| 7 | Issad Rebrab & family | $4.6 | Food & Beverage |  Algeria |
| 8 | Naguib Sawiris | $3.3 | Telecom | Egypt |
| 9 | Patrice Motsepe | $3.2 | Metals & mining | South Africa |
| 10 | Mohamed Mansour | $2.9 | Diversified | Egypt |
| 11 | Koos Bekker | $2.6 | Media & Entertainment | South Africa |
| 12 | Strive Masiyiwa | $1.9 | Telecom |  Zimbabwe |
| 13 | Mohammed Dewji | $1.5 | Diversified |  Tanzania |
| 13 | Aziz Akhannouch & family | $1.5 | Diversified |  Morocco |
| 13 | Youssef Mansour | $1.5 | Diversified | Egypt |
Billionaire Wealth Mirrors Country Wealth
Only seven out of the 54 African countries are represented on Africa’s rich list, and even amongst them, three countries (Egypt, South Africa, and Nigeria) account for more thantwo-thirds of the top-ranked billionaires
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| Country | Rank in African Economy | Individuals on Top 15 Billionaire List |
|---|---|---|
| Nigeria |
#1 | 3 |
| South Africa |
#2 | 4 |
| Egypt |
#3 | 4 |
The home countries for these billionaires reflects the nations’ contribution to the African economy as a whole. Nigeria, South Africa, and Egypt have the top three GDPs in Africa.
Algeria—where Issad Rebrab (7th) is from—is ranked fourth, and Morocco—where Aziz Akhannouch (13th) is based—is fifth.
What’s Next For Africa’s Richest?
Africa has routinely been touted to become a future economic powerhouse as its demographic dividend pays off in the next few decades. However, its biggest challenge will be developing its economic and social infrastructure to retain local talent to make their fortunes at home.
