Aliko Dangote has once again cemented his place as Africa’s wealthiest man, topping Forbes’ Real-Time Billionaires List with a net worth of $24.4 billion and ranking 88th globally.
The latest ranking, released on Saturday, underscores Dangote’s unmatched dominance in Africa’s wealth hierarchy, where he stands far ahead of his Nigerian peers. Abdulsamad Rabiu follows with $7.2 billion (#516), Mike Adenuga at $6.3 billion (#592), and Femi Otedola at $1.5 billion (#2424).
Dangote’s wealth is more than triple Rabiu’s, nearly four times Adenuga’s, and over 16 times Otedola’s, a testament to his commanding presence on the continent’s billionaire stage.
Since first appearing on Forbes’ list in 2008, Dangote has remained a fixture, reclaiming his spot in 2011 and holding the title of Africa’s richest man for 14 consecutive years. His fortune, largely driven by cement, sugar, and the landmark petroleum refinery launched in 2023, has reinforced his role as a symbol of Nigeria’s industrial strength.
While Dangote leads, other Nigerian billionaires continue to secure their places. Rabiu, with strongholds in cement and sugar, and Adenuga, with investments in telecommunications and oil, remain prominent players. Otedola, whose portfolio spans energy and utilities, made a return to the list after years away, reflecting renewed momentum in his business empire.
Together, the four represent Nigeria’s concentration of billionaire wealth across a handful of critical sectors—manufacturing, oil, telecommunications, and power.
In South Africa, luxury goods tycoon Johann Rupert tops the chart at $13.2 billion, followed by former diamond boss Nicky Oppenheimer with $10.4 billion. Others include Koos Bekker with $3.8 billion, mining magnate Patrice Motsepe with $3.4 billion, banker Michiel le Roux with $2.7 billion, Jannie Mouton and family with $1.9 billion, and retail investor Christoffel Wiese with $1.7 billion.
Egypt’s wealthy cohort is headlined by Nassef Sawiris ($8.8 billion) and Naguib Sawiris ($5.0 billion). The Mansour brothers—Mohamed ($3.4 billion), Youssef ($1.4 billion), and Yasseen ($1.2 billion)—complete the country’s strong showing.
Beyond the three dominant nations, Eswatini’s Nathan Kirsh holds a net worth of $8.0 billion. Morocco contributes three names: Othman Benjelloun & family ($2.0 billion), Aziz Akhannouch ($1.6 billion), and Anas Sefrioui & family ($1.6 billion). Tanzania’s Mohammed Dewji sits at $2.2 billion, while Zimbabwe’s Strive Masiyiwa has $1.3 billion.
The ranking highlights how Africa’s billionaire landscape remains concentrated in a handful of countries and industries. Analysts note that despite the continent’s fast-growing middle class and emerging tech ecosystem, the bulk of wealth is still tied to traditional sectors such as natural resources, construction, and energy.
For Dangote, however, the latest recognition not only consolidates his reputation but also strengthens Nigeria’s image as an industrial powerhouse. His $20 billion refinery project, expected to reshape Africa’s energy market by reducing imports and boosting exports, could further elevate his net worth in the years ahead.
At 66, Dangote’s dominance underscores the rarity of sustained wealth leadership in Africa, where fortunes often fluctuate with politics, currency swings, and commodity cycles. Yet, for more than a decade, he has held on to the top spot—an achievement that cements his status not just as Africa’s richest man, but as a symbol of enduring enterprise on the continent.