2025 marks a record-breaking year for Africa’s richest billionaires, as their combined net worth has soared past the $100 billion mark for the first time. The 22 billionaires on this year’s African Billionaires List now hold a collective fortune of $105 billion, up from $82.4 billion last year when only 20 made the cut.
This surge in wealth comes despite the continent’s ongoing challenges, political uncertainty, fluctuating currencies, and tough consumer markets. For example, Zimbabwe replaced its local currency with the gold-backed ZiG in May 2024 to combat hyperinflation. Still, the increase in billionaire wealth mirrors the global trend, with equity markets rising 22% in the 12 months ending February 2025 (MSCI data).
Dangote Tops Africa’s Richest List for 14th Year
Aliko Dangote, Nigeria’s industrial magnate, leads the Africa richest people ranking for the 14th consecutive year. His net worth skyrocketed from $13.9 billion in 2024 to $23.9 billion in 2025, largely due to the inclusion of his massive oil refinery near Lagos in Forbes’ valuation.
The refinery, which faced years of delays due to regulatory hurdles, began limited operations in early 2024 and is now set to reach full capacity. This project allows Nigeria, one of the continent’s largest oil producers to export refined petroleum products, a major economic milestone.
“This is a big relief,” said Dangote, 67, in February. “Africa must refine its own crude oil to create lasting wealth and prosperity.” His fortune now places him among the world’s top 100 richest people.
Other Notable Billionaire Gains
- Johann Rupert (South Africa) remains in second place with $14 billion, up 39% from last year—driven by his luxury goods empire.
- Femi Otedola (Nigeria) saw his wealth rise over 30% to $1.5 billion thanks to soaring shares of Geregu Power Plc.
- Anas Sefrioui (Morocco) and Jannie Mouton (South Africa) rejoined the list after strong stock market gains in their respective companies.
Billionaires Who Lost Wealth
Not all fortunes rose in 2025. Strive Masiyiwa (Zimbabwe), a telecom tycoon, saw his net worth drop 33% to $1.2 billion after Zimbabwe’s currency switch impacted valuations.
Countries With the Most Billionaires in 2025
- South Africa: 7 billionaires
- Nigeria: 4 billionaires
- Egypt: 4 billionaires
- Morocco: 3 billionaires
- Algeria: 1 billionaire
- Tanzania: 1 billionaire
- Zimbabwe: 1 billionaire
2025 African Billionaires List
| Rank | Name | Net Worth | Country | Industry |
|---|---|---|---|---|
| 1 | Aliko Dangote | $23.9 B | Nigeria | Manufacturing |
| 2 | Johann Rupert & family | $14 B | South Africa | Fashion & Retail |
| 3 | Nicky Oppenheimer & family | $10.4 B | South Africa | Metals & Mining |
| 4 | Nassef Sawiris | $9.6 B | Egypt | Construction & Engineering |
| 5 | Mike Adenuga | $6.8 B | Nigeria | Diversified |
| 6 | Abdulsamad Rabiu | $5.1 B | Nigeria | Diversified |
| 7 | Naguib Sawiris | $5 B | Egypt | Telecom |
| 8 | Koos Bekker | $3.4 B | South Africa | Media & Entertainment |
| 8 | Mohamed Mansour | $3.4 B | Egypt | Diversified |
| 10 | Patrice Motsepe | $3 B | South Africa | Metals & Mining |
| 10 | Issad Rebrab & family | $3 B | Algeria | Food & Beverage |
| 12 | Mohammed Dewji | $2.2 B | Tanzania | Diversified |
| 12 | Michiel Le Roux | $2.2 B | South Africa | Finance & Investments |
| 14 | Othman Benjelloun & family | $1.6 B | Morocco | Finance & Investments |
| 14 | Anas Sefrioui & family | $1.6 B | Morocco | Real Estate |
| 16 | Aziz Akhannouch & family | $1.5 B | Morocco | Diversified |
| 16 | Jannie Mouton & family | $1.5 B | South Africa | Finance & Investments |
| 16 | Femi Otedola | $1.5 B | Nigeria | Energy |
| 16 | Christoffel Wiese | $1.5 B | South Africa | Fashion & Retail |
| 20 | Youssef Mansour | $1.4 B | Egypt | Diversified |
| 21 | Yasseen Mansour | $1.2 B | Egypt | Diversified |
| 21 | Strive Masiyiwa | $1.2 B | Zimbabwe | Telecom |
Methodology
This Africa Billionaires ranking includes individuals who reside in Africa or have primary business interests on the continent. Net worths are based on stock prices and currency exchange rates as of March 7, 2025. Privately held businesses are valued using estimated revenues/profits and market-based multiples.
