Top 10 richest people in Africa at the outset of 2024

These 10 richest people in Africa have amassed fortunes through diverse industries, ranging from luxury goods and diamonds to cement, telecommunications, and beyond.

Africa continues to demonstrate its economic supremacy through a limited handful of the continent’s wealthiest individuals in the year 2024.

This elite group, made up of visionaries and entrepreneurs, navigates diverse industries to amass substantial fortunes.

Their success stories reflect not only personal triumphs but also the dynamic and evolving nature of Africa’s business environment.

Read also: Top 10 richest men in the world worth $1.49 tn combined in Q1 2024

According to the Forbes real-time billionaires list, Here are the Top 10 billionaires in Africa at the outset of 2024.

Johann Rupert & Family (South Africa) – $10.3 billion

Johann Rupert, at the pinnacle of Africa’s wealth hierarchy, commands a net worth of $10.3 billion. He has accumulated his wealth primarily through the luxury goods industry. As the founder and chairman of Richemont, a conglomerate that owns renowned brands such as Cartier and Montblanc, Rupert has solidified his position not only on the continent but globally, securing the 192nd spot on the worldwide wealth rankings.

Aliko Dangote (Nigeria) – $9.5 billion

Aliko Dangote, a household name in the African business landscape, follows closely behind Rupert with a net worth of $9.5 billion. Originating from Nigeria, Dangote has built his fortune in the cement and sugar industries. As the founder of the Dangote Group, he has contributed significantly to Nigeria’s economic growth and job creation. Dangote’s impact extends beyond Africa, with his global ranking reaching 228th.

Nicky Oppenheimer & Family (South Africa) – $8.3 billion

Nicky Oppenheimer, claims the third spot with a net worth of $8.3 billion. The Oppenheimer family’s wealth is deeply rooted in the diamond industry, with interests in the renowned De Beers Group. Despite facing fluctuations in the diamond market, the family’s strategic business acumen has ensured a lasting legacy, securing the 283rd position on the global wealth rankings.

Nassef Sawiris (Egypt) – $7.4 billion

From Egypt, Nassef Sawiris emerged as the fourth richest person in Africa, boasting a net worth of $7.4 billion. His wealth predominantly comes from the construction and investment sectors. As the CEO of Orascom Construction, Sawiris has been a key player in Egypt’s infrastructure development, earning him the 345th spot globally.

️ Abdulsamad Rabiu (Nigeria) – $5.9 billion

Abdulsamad Rabiu, a prominent figure in Nigeria, claims the fifth position with a net worth of $5.9 billion. His wealth is primarily derived from the cement and sugar industries. As the founder and CEO of BUA Group, Rabiu has contributed significantly to Nigeria’s industrialization and economic development, earning the 489th rank on the global wealth scale.

Nathan Kirsh (Eswatini) – $5.8 billion

Nathan Kirsh, representing Eswatini (Swaziland), secures the sixth spot with a net worth of $5.8 billion. Kirsh has diversified his wealth through interests in retail and real estate. His influence extends globally, earning him the 497th position in the worldwide wealth rankings.

Issad Rebrab & Family (Algeria) – $4.6 billion

Issad Rebrab, hailing from Algeria, claims the seventh spot with a net worth of $4.6 billion. His wealth is predominantly rooted in the food industry, with interests in agribusiness and food processing. Despite facing challenges in the Algerian business landscape, Rebrab’s entrepreneurial spirit has earned him the 647th position globally.

Mohamed Mansour (Egypt) – $3.6 billion

Mohamed Mansour emerges as the eighth richest person in Africa, commanding a net worth of $3.6 billion. With diversified business interests, including automotive distribution and retail, Mansour has contributed significantly to Egypt’s economic landscape. He secures the 854th spot on the global wealth rankings.

Naguib Sawiris (Egypt) – $3.3 billion

Naguib Sawiris, another prominent figure from Egypt, claims the ninth position with a net worth of $3.3 billion. His wealth is primarily derived from the telecommunications sector. As the founder of Orascom Telecom Holding, Sawiris has played a pivotal role in advancing telecommunications infrastructure across the African continent, earning him the 927th rank globally.

Mike Adenuga (Nigeria) – $3.1 billion

Rounding up the top 10 is Mike Adenuga from Nigeria, with a net worth of $3.1 billion. Adenuga’s wealth is diversified across the telecommunications and oil industries. As the founder and owner of Globacom, one of Nigeria’s leading telecommunications companies, and an oil exploration firm, Adenuga has solidified his presence on the global stage, securing the 1031st position in worldwide wealth rankings.