Africa’s top billionaires have made significant strides in various industries, from cement and telecommunications to luxury goods and diamonds. This is according to the latest Forbes’ Real-Time Billionaires rankings.
Forbes’ Real-Time Billionaires rankings monitor the daily changes in the net worth of the world’s wealthiest individuals. The platform updates the values of public holdings every five minutes during stock market hours, with a 15-minute delay for stock prices.
For those with significant private company stakes, net worths are updated daily. If a private company constitutes 20% or more of an individual’s wealth, its value is adjusted based on industry or region-specific market indices from FactSet Research Systems.
Leading the list is Aliko Dangote of Nigeria, with a net worth of $13.5 billion. As the founder and chairman of Dangote Cement, the continent’s largest cement producer, Dangote has expanded his business empire across 19 African countries. His ventures also include a fertiliser plant, which began operations in March 2022, and the much-anticipated Dangote Refinery, expected to commence refining operations in 2024.
South Africa’s Johann Rupert follows closely with a net worth of $11.7 billion. Rupert chairs Swiss luxury goods firm Compagnie Financiere Richemont, known for prestigious brands such as Cartier and Montblanc. Richemont was formed in 1998 through a spin-off of assets owned by Rembrandt Group Limited, founded by Rupert’s father. Rupert also holds significant stakes in investment firms Remgro and Reinet.
Another prominent South African billionaire is Nicky Oppenheimer, with a net worth of $9.5 billion. Oppenheimer, heir to the De Beers diamond fortune, sold his 40% stake in the firm to Anglo American for $5.1 billion in 2012. He has since diversified his interests, founding Fireblade Aviation, which operates chartered flights out of Johannesburg, and owning extensive conservation land across Southern Africa.
Nassef Sawiris of Egypt ranks next with a net worth of $8.8 billion. Sawiris, a key figure in Egypt’s wealthiest family, has a diverse portfolio that includes a significant stake in German sportswear giant Adidas and ownership of the Premier League’s Aston Villa Football Club. He also runs OCI, one of the world’s largest nitrogen fertiliser producers, and Orascom Construction, a major engineering and building firm.
Nigeria’s Mike Adenuga, with a net worth of $6.7 billion, built his fortune in telecommunications and oil production. His mobile network, Globacom, is Nigeria’s second-largest operator, with more than 60 million subscribers. Adenuga also owns Conoil Producing, an oil exploration company, and holds significant stakes in the financial sector through Sterling Financial Holding.
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