At the beginning of 2024, in January, as per Forbes, the African continent’s 5 billionaires were worth an estimated $35.6 billion. Nigeria’s Aliko Dangote was Africa’s richest person for the 13th year in a row, followed by South African luxury goods magnate Johann Rupert with $10.7 billion.
Fortunes rise and fall but never the drive and tenacity of these men driving African business. For most enterprising individuals including the wealthy, the new year comes with new financial objectives.
As the new year begins, people aim to accomplish goals that have eluded them in the past, and African billionaires are no exception.
Currently, this wealthy African Billionaires often see Africa as the frontier for economic growth and development, making Africa a hotspot for Foreign Direct Investments.
Likewise, the number of African millionaires is set to rise by 42 percent over the next decade, according to the 2023 Africa Wealth Report by Henley & Partners and New World Wealth.
Notably, there are no female billionaires on the list of Africa’s richest
Africa’s wealth as a continent comes from it’s rich in natural resources, youthful demographics, and untapped markets, keeps on attracting a growing number of international investors.
Africa’s wealthy list is courtesy of the Forbes Daily billionaires ranking platform, which tracks daily changes to the net worth of the most high-net-worth individuals across the globe.
1. Aliko Dangote
For the 13th time in a row, Aliko Dangote, Born in 1957 has been named the richest man in Africa in 2023, with an estimated net worth of around $13.5 billion. He is also the richest black man in the world. Likewise, the business empire he began to build more than three decades ago, Dangote Group, is one of the largest private-sector employers in Nigeria as well as the most valuable conglomerate in West Africa.
2. Johann Rupert & Family
Johann Peter Rupert (born 1 June 1950) is a South African billionaire businessman, who is the eldest son of business tycoon Anton Rupert and his wife Huberte.
Likewise, he is the chairman of the Swiss-based luxury-goods company Richemont and the South Africa-based company Remgro. Since April 2010, he has been the CEO of Compagnie Financiere Richemont. Rupert and family are ranked the richest in South Africa on the 2023 Forbes list, with an estimated net worth of $10.7 billion.
3. Nicky Oppenheimer & Family
Nicky Oppenheimer: Nicky is the third richest man in South Africa, with a total worth of 8.3 billion USD. He is a businessman and a conservationist who was born in the year 1945. Nicky was the chairman of De Beers, which is the world’s leading diamond trading company.
For 85 years until 2012, the Oppenheimer family occupied a controlling spot in the world’s diamond trade.
4. Nassef Sawiris
On the other hand, Nassef Onsi Sawiris was born on 19 January 1961. He is an Egyptian businessman, and the youngest of Onsi Sawiris’ three sons (his brothers are Naguib and Samih). As of October 2021, his net worth was estimated at $8.7 billion, making him the richest Egyptian and fourth richest African.
At the same time, Nassef Sawiris has become a key investor with valuable shares in Adidas, the sportswear brand. Moreover, he also a key member at the Lafarge Holcim, the largest global cement maker.
Likewise, he also runs Dutch company OCI which is the largest fertiliser producer globally. Likewise, He increased his net worth significantly after he became the co-owner of English football club, Aston Villa.
5. Abdulsamad Rabiu
He was born on 4th August 1960. He is a Nigerian billionaire businessman and philanthropist. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s. More so, Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing.
At the same time, it also involves infrastructure and agriculture, producing a revenue in excess of $2.5 billion. Additionally, he is also the chairman of the Nigerian Bank of Industry.