Dangote continues dominance in Africa on Forbes’ Billionaires List

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 at $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 $13.2bn, followed by former diamond boss Nicky Oppenheimer, with $10.4bn.

Others include Koos Bekker with $3.8bn, mining magnate Patrice Motsepe with $3.4bn, banker Michiel le Roux with $2.7bn, Jannie Mouton and family with $1.9bn, and retail investor Christoffel Wiese with $1.7bn.

Egypt’s wealthy cohort is headlined by Nassef Sawiris ($8.8bn) and Naguib Sawiris ($5.0bn).

The Mansour brothers, Mohamed ($3.4bn), Youssef ($1.4bn), and Yasseen ($1.2bn), complete the country’s strong showing.

Beyond the three dominant nations, Eswatini’s Nathan Kirsh holds a net worth of $8.0bn.

Morocco contributes three names: Othman Benjelloun & family ($2.0bn), Aziz Akhannouch ($1.6bn), and Anas Sefrioui & family ($1.6bn).

Tanzania’s Mohammed Dewji sits at $2.2bn, while Zimbabwe’s Strive Masiyiwa has $1.3bn.

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