In 2023, Africa’s 19 billionaires on the Forbes list had a combined net worth of $81.8 billion, with South Africa, Egypt and Nigeria leading in the number of wealthy individuals.
Nigerian industrialist Aliko Dangote still tops the list for the 12th year in a row with an estimated net worth of $10.1 billion.
As of January 2024, the list has remained the same. The following 10 men are at the helm of the largest African business empires.
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Aliko Dangote
Nigerian Aliko Dangote wealth is estimated at $10.1 billion, as per Forbes, with interests in sugar and cement.
Dangote Cement is the largest producer of the construction material in Africa with an installed capacity of 48.6 million metric tonnes per year.
The 66-year-old dollar billionaire also have sugar and fertilizer factories in West Africa and recently completed an oil refinery in Nigeria.
Johann Rupert
South African Johann Rupert and family are estimated to be worth $9.7 billion, making the luxury business magnate the second richest person on the continent.
He is the chairman of Swiss luxury goods company Compagnie Financiere Richemont known for brands like Montblanc and Cartier.
Nicky Oppenheimer
The Oppenheimer family had a command of the diamond trade in the world with stake of the DeBeers that has mining operations in South Africa and neighbouring countries like Botswana.
The South African also owns large swathes of conservation land in South Africa, neighbouring Botswana, Mozambique and Zimbabwe.
Nassef Sawiris
The Egyptian has interests in different sectors and holds a 6 per cent stake in sportware manufacturer Adidas.
The 62-year-old is estimated to be worth $6.9 billion with investments in construction and fertiliser production in Iowa and Texas.
Abdulsamad Rabiu
Rabiu is the second Nigerian on Africa’s rich least. He is estimated to hold $6.4 billion wealth, making him the second richest person in Africa’s most populous country and the largest economy.
Like his counterpart Dangote, his source of wealth is Sugar and Cement. He owns BUA Group with operations in real estate, sugar refining and cement production.
The 63-year-old and Dangote are business rivals that have taken each other to court over issues of interest.
Issad Rebrab
Rebrab and family hold approximately $4.6 billion from Cevital, that according to Forbes, is one of the largest sugar milling plants in the world.
The 79-year-old’s Algerian served as the CEO of Cevital until July, 2022, when he appointed his son to take over. The company has capacity to mill over 2 million tonnes of a sugar a year.
Mohamed Mansour
Egyptian national Mohamed Mansour runs Mansour Group, one of General Motor’s largest distributors worldwide. The company is a family business founded by his father in 1952.
Naguib Sawiris
Sawiris comes from the wealthiest family in Egypt. His net worth is estimated $3.3 billion.
His wealth came from the telcom sector, owning Orascom Telecom, which he sold to Russian firm Veon in 2011 in a deal estimated to be worth billions of dollars.
Mike Adenuga
The 70-year-old businessman is the third Nigerian on Africa’s rich list, according to Forbes. He holds $3.1 billion built from oil production and telecom.
Koos Bekker
South African Bekker made his billion in media and is credited for turning Naspers from just a publisher into a cable TV and e-commerce behemoth.
Bekker is estimated to be worth $2.4 billion, according to Forbes.
