Agency Report
Here’s the top five on the list
Aliko Dangote – Nigerian industrialist Aliko Dangote is the founder and president/chief executive of the Dangote Group, the largest conglomerate in West Africa, which includes Dangote Cement, a subsidiary of the Dangote Group, is the largest cement producer in Africa. He remains Africa’s wealthiest person for the 14th consecutive year. His net worth surged to an estimated $23.9 billion, driven significantly by Forbes now valuing his massive Dangote Refinery near Lagos.
The refinery, operational after lengthy delays, is key to Nigeria’s shift from fuel importer to exporter. Dangote, ranked among the world’s top 100 richest, calls the project pivotal for Africa’s self-sufficiency.
Johann Rupert and family – South African luxury goods magnate Johann Rupert holds firm as Africa’s second-richest billionaire. His fortune climbed 39% to $14 billion, largely reflecting the rebound in shares of Richemont, the luxury group he chairs and controls through family holdings.
Richemont, owner of brands like Cartier, benefited from strong global demand for high-end jewellery and watches, cementing the Rupert family’s dominant position in the sector.
Nicky Oppenheimer and family – Former diamond heir Nicky Oppenheimer, alongside his family, ranks among Africa’s wealthiest with an estimated $9.4 billion. The family sold their historic 40% stake in De Beers to Anglo American over a decade ago for $5.1 billion.
They have since diversified their fortune, notably through the Fireblade Aviation private terminal and significant investments in African renewable energy, venture capital, and conservation initiatives.
Africa’s 22 billionaires saw their combined fortunes surge to a record $105 billion (R1.9 trillion) this year, up from $82.4bn held by 20 individuals last year, the Forbes 2025 Africa billionaires report showed.
Nassef Sawiris – Egyptian billionaire Nassef Sawiris, with an estimated $8.7 billion fortune, is a major player in construction and investments. He holds significant stakes in global giants like sportswear maker Adidas and building materials firm Holcim.
In December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams. In Egypt, his cornerstone asset is OCI, the world’s largest nitrogen fertilizer producer with global operations. Sawiris also actively invests in infrastructure and private equity across the region.
Mike Adenuga – Nigerian telecoms and oil tycoon Mike Adenuga, founder of Globacom (Glo), boasts an estimated $6.7 billion fortune. His mobile network, Glo, is a major competitor in Nigeria and operates in other West African nations.
Adenuga also holds substantial interests in the oil sector through Conoil Producing and extensive real estate holdings in prime Lagos and London locations. His businesses are largely privately held.