Aliko Dangote has retained his position as Africa’s richest person for the 14th consecutive year, with his fortune soaring to $23.9 billion, largely due to his newly operational oil refinery. His wealth now places him among the world’s top 100 richest individuals.
Africa’s billionaires collectively amassed a record $105 billion, benefiting from a global market rally. The 2024 Forbes Africa Billionaires list includes 22 billionaires from eight countries, an increase from last year’s 20. South African Johann Rupert ranked second with $14 billion, followed by Egypt’s Nassef Sawiris at $9.6 billion.
Nigeria had four billionaires on the list: Dangote, Abdulsamad Rabiu ($8.1 billion), Mike Adenuga ($6.1 billion), and Femi Otedola ($1.5 billion). Otedola rejoined the rankings after his company’s stock surged by 40%.
While several fortunes grew, Zimbabwe’s Strive Masiyiwa saw his wealth decline by a third to $1.2 billion due to currency volatility. South Africa, Egypt, and Nigeria dominated the rankings, followed by Morocco, Algeria, Zimbabwe, Tanzania, and the DRC.
