Top 18 richest people in Africa in 2024 and their net worth

Top 18 richest people in Africa in 2024 and their net worth

Africa boasts the most successful and wealthiest people in the continent, who have made it onto the Top 18 Forbes list of the richest people in Africa. Their hard work and business knowledge have been the reason they have been recognised by Forbes. Let us find out more about who these rich people are and how much they are worth.

The richest Africans
A collage photo of Africa's billionaires. Photo: canva.com (modified by author)
Source: UGC

Africa's richest people have obtained this title following the criteria set by Forbes, which includes stock prices, exchange rates, revenue estimates, price-to-sale and price-to-earnings.

The richest Africans

The following list is of the Top 18 richest people in Africa and it was determined by Forbes. Even though they have reached the top, their hard work enables them to see soaring revenues.

1. Aliko Dangote

The richest Africans
Nigeria's wealthiest citizen, Aliko Dangote. Photo: @aliko_fanpage
Source: Instagram

Aliko Dangote is Nigeria's most prosperous citizen, with a net worth of $13.5 billion. He started from ground zero and made his way up through selling household commodities such as sugar, flour and salt. Furthermore, his business acumen has primarily contributed to his rise to riches, and he currently runs Dangote Cements, the largest cement-producing company in Africa.

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2. Johann Rupert

The richest Africans
Cie Financiere Richemont SA Chairman Johann Rupert Opens Homo, Faber Crafting a More Human Nature Exhibition. Photo: Alberto Bernasconi
Source: Getty Images

Johann Rupert, a South African businessman who chairs a Swiss luxury goods firm called Compagnie Financiere Richemont, occupies the second spot on the list. As determined by Forbes, Johann's net worth is $10.8 billion.

3. Nicky Oppenheimer

The richest Africans
Nicky Oppenheimer, Chairman of South Africa's diamond giant De Beers, speaks at the International Institute for Strategic Studies in London. Photo: John D McHugh
Source: Getty Images

Nicholas Frank Oppenheimer is a South African citizen born into a wealthy family. Nicky joined his family mining business, Anglo American, when he was 23 years old as a personal assistant to his father. However, he was given esteemed roles when he became experienced and he is worth $8.4 billion.

4. Abdul Samad Rabiu

The richest Africans
Abdul Samad Rabiu, chief executive officer of BUA Group at the Africa CEO Fourm in Abidjan Ivory Coast. Photo: Caballero Reynolds
Source: Getty Images

Abdulsamad is a Nigerian business owner who has accumulated $7.6 billion from his businesses and various investments. After inheriting land from his father, he established his first company in 1988, focusing on importing steel, chemicals, and iron.

5. Nassef Sawiris

Richest people in South Africa
Egyptian investor and billionaire. Photo: @forbesmiddleeast (modified by author)
Source: Instagram

Nassef Sawiris is an Egyptian investor and scion of the country's wealthiest family. He holds a stake of 6% in the global sportswear maker, Adidas, and also sits on the brand's supervisory board. Furthermore, Nassef has a stake in Lafarge Holcim, a leading sustainable and innovative building materials company. Thus, his net worth is $7.3 billion.

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6. Mike Adenuga

The richest Africans
Nigeria's second richest citizen, Mike Adenuga. Photo: @dr.mikeadenuga
Source: Instagram

Mike Adenuga is an owner of the country's third biggest network provider, Globacom, which has 55 million subscribers. He made his first one million dollars when he was 26 years old by selling lace and soft drinks, and his source of income largely stems from his telecom and oil production businesses. Currently, his oil company, Conoil Producing, operates in six blocks in the Niger Delta. Therefore, Mike Adenuga is $6.3 billion rich.

7. Issad Rebrab

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Algerian businessman and CEO of Cevital. Photo: @issad_rebrab (modified by author)
Source: Instagram

The Algerian businessman is worth $4.6 billion and was the CEO of his company, Cevital, which Malik Rebrab, his son, now leads. Cevital is Algeria's most significant conglomerate, with interests in the food sector, retail and industry, among others.

8. Naguib Sawiris

The richest Africans
Egyptian businessman and founder of EI Gouna Film Festival Naguib Sawirirs takes to the red carpet at the closing of the ceremony. Photo: Jonathan Rashad
Source: Getty Images

Naguib made his fortunes in the telecom industry. In 2011, he sold Orascom Telecom to a Russian company, Veon, in a multibillion-dollar transaction. Sawiris chairs Orascom TMT Investments and owns 88% of Euronews through his Media Globe Holdings.

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With a net worth of $3.3 billion, Naguib has also established a luxury resort called Silversands, located on the Caribbean Island of Grenada.

9. Patrice Motsepe

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South Africa's billionaire and president of the Sundowns Football Club. Photo: @realmotsepe (modified by author)
Source: Instagram

Patrice Motsepe is one of South Africa's billionaires with a net worth of $3.2 billion. In 2008, he became the first black African man to make it to the Forbes list. Patrice is the founder of African Rainbow Minerals, a leading South African minerals and mining company that operates primarily in South Africa and Malaysia.

10. Mohamed Mansour

The richest Africans
Mohamed Mansour, president of Mansour Group, poses for a photograph after a television interview. Photo: Simon Dawson
Source: Getty Images

Mohamed is an Egyptian businessman and former politician who oversees a family conglomerate, Mansour Group. His late father founded the company in 1952 and it continues to grow successfully under the leadership of Mohamed.

In 1976, he established several General Motors dealerships across Egypt, later becoming the country's biggest General Motors distributor worldwide. In this regard, Mohamed's net worth is $2.9 billion.

11. Koos Bekker

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The richest Africans
Koos Bekker, billionaire and chairman of Napers Ltd., at the company's extraordinary general meeting in Cape Town. Photo: Dwayne Senior
Source: Getty Images

This South African billionaire is popularly known for transforming Naspers, the country's newspaper publishing company, into a cable television powerhouse and e-commerce investor.

From a business perspective, Koos has accumulated a $2.6 billion net worth from dominating the country's entertainment industry. His most extraordinary investment venture has been leading his company to reportedly pay $34 million for a third of China's Internet firm, Tencent.

12. Strive Masiyiwa

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Founder and Chairman of Econet Wireless Global Ltd., Steve Masiyiwa, speaks at a conference. Photo: Patrick Fallon
Source: Getty Images

In 1998, Strive Masiyiwa launched his network-providing company, Econet Wireless Zimbabwe, in his home country. The Zimbabwean national also owns half of Liquid Telecom, which specializes in providing fiber optic and satellite services across Africa. Additionally, he has stakes in power distribution firms in Africa and investments in fintech. Strive Masiyiwa's net worth is $1.9 billion.

13. Aziz Akhannouch

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President if Morocco's National Rally of Independents Aziz Khannouch, reacts during a press conference in the capital Rabat. Photo: Fadel Senna
Source: Getty Images

Aziz has the majority ownership of Akwa Group, a conglomerate that has primary interests in the oil industry. However, the company has diversified to venture into telecommunications, hotels, real estate and tourism.

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Ahmed Wakrim, Aziz's father, founded this company in 1932 and has continually seen a positive success rate under his son's leadership. Aziz has an approximate net worth of $1.5 billion.

14. Mohammed Dewji

The richest Africans
Tanzanian businessman Mohammed Dewji at his office in Dar es Salaam. Photo: Khalfan Said Hassan
Source: Getty Images

Tanzania's only billionaire is the CEO of a conglomerate active in manufacturing textiles, beverages, flour milling and edible oils in Central, Eastern and Southern Africa. METL, the conglomerate in question, was founded by his father in the 1970s and currently operates in six African countries. Mohammed's assets are also worth $1.5 billion.

15. Youssef Mansour

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Youssef Mansour, Chairman of Mansour Group. Photo: @afriquebuzz (modified by author)
Source: Instagram

Youssef is the chairman of his family business, Mansour Group. He oversees the division of consumer goods, which supermarket chain Metro is a part of. Youssef and his brother Mohamed are part owners of Mansour Group. The Egyptian business mogul is worth $1.5 billion.

16. Othman Benjelloun

The richest Africans
CEO of BMCE Bank of Africa Othman Benjelloun. Photo: @ocapitalgroup (modified by author)
Source: Instagram

Othman is the Chief Executive Officer of BMCE Bank of Africa, which is present in over 20 African countries. He transformed RMA, an insurance company founded by his father, into a leading insurer in Morocco. Othman has a stake in the Moroccan arm of French telecom firm Orange. He is thus worth $1.3 billion.

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17. Michiel Le Roux

Which family is the richest in South Arica?
Founder of Capitec Bank and South African billionaire Michiel Le Roux. Photo: @incwajana (modified by author)
Source: Instagram

Michiel Le Roux is a South African banker and billionaire. He founded the country's most preferred bank, Capitec, in 2001 and holds a stake of 11%. Le Roux previously ran a small regional bank in Cape Town called Boland Bank. In this regard, he has a net worth of $1.2 billion.

18. Christoffel Wiese

Who are the richest Nigerians?
Christoffel Wiese, a billionaire and Chairman of Steinhoff Holdings NV at a Bloomberg Television interview. Photo: Waldo Swiegers
Source: Getty Images

Christoffel is a South African businessman who founded Pepkor, a South African-based investment and holding company that manages a portfolio of retail chains that are centred on selling clothes, footwear and textiles. Wiese's valuable assets are in Shoprite, but he holds stakes in other retail companies. His current net worth is $1 billion.

Who are the richest Nigerians?

Some Nigerian citizens have made successes of their lives such that they have been recognized as the richest in the country. Importantly, Alafaa Kariboye-Igbo is one of the richest people in Nigeria, with a net worth of $6.1 billion.

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His source of income is oil and gas production, business investments and real estate. Also holding this title is Arthur Eze, who has a net worth of $5.8 billion and mainly generates his income from his largest oil-producing company, Atlas Oranto Petroleum and Triax Airlines, his other company.

Who is Aliko Dangote?

Aliko Dangote is a renowned Nigerian business magnate born on 10 April 1957 in Kano, Nigeria. Being Africa's top industrialist, Aliko is reportedly set to become the first African to lay claim to a $30-billion net worth due to his petroleum refinery nearing completion.

Who is the Richest African man in 2024?

As of 2024, the richest man in Africa is Aliko Dangote. Nigeria's richest man has retained this title for more than ten years in a row due to his positively increasing net worth.

Richest people in South Africa

Stephen Saad is one of the richest people in the country, with a net worth of $1.9 billion generated from his leading pharmaceutical company Aspen Pharmacare. President Cyril Ramaphosa is also considered the richest person in the country, with a net worth of $450 million.

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Which family is the richest in South Africa?

The Ruperts have been reported to be the richest family in South Africa and they have international and national businesses which have allowed them to accumulate a $10.8 billion net worth.

Who were the Top 10 richest men in 2022?

NameOccupationNet worth
1. Bernard ArnaultCEO and Chairman of Moet Hennessy Luis Vuitton$209.5 billion
2. Elon MuskCo-founder and CEO of Tesla$188.6 billion
3. Jeff BezosCEO of Amazon$120.8 billion
4. Larry EllisonCo-founder and former CEO of Oracle Corporation$111.6 billion
5. Warren BuffetCEO of Berkshire Hathaway$108.4 billion
6. Bill GatesCo-founder of Microsoft$105.8 billion
7.Carlos Slim HeluPart owner of Grupo Carso$88.6 billion
8. Steve BallmerOwner of the Los Angeles Clippers$84.4 billion
9. Larry PageCo-founder of Google and computer scientist$82.2 billion
10. Mukesh AmbaniOwner of Reliance Industries$82.2 billion

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Who are the Top 5 richest people in Africa?

A few of the people already mentioned in the article have made Top 5 of the richest people in Africa due to having a higher net worth than their counterparts. Therefore, their names are:

  1. Alhaji Aliko Dangote
  2. Johann Rupert
  3. Nicky Oppenheimer
  4. Nathan Krish
  5. Nassef Sawiris

This Top 18 list of the richest people in Africa, as recognized by Forbes Magazine, has given insight into the continent's billionaires, their sources of income and how much they are worth.

Richest people in Africa and their net worth
Photo: canva.com (modified by author)
Source: Original

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Authors:
Tshepiso Ntombela avatar

Tshepiso Ntombela (Lifestyle writer) Tshepiso Ntombela is a Wits Journalism graduate from the University of the Witwatersrand, Johannesburg. He has journalistic experience obtained in 2021 from Wits Vuvuzela, a community newspaper where his tasks were inclusive of news and feature writing, subediting, photography and videography as well as source interviewing. He's currently undergoing an Internship at the Wits Centre for Journalism. In 2023, Tshepiso finished the AFP course on Digital Investigation Techniques. Email: tshepisontombela62@gmail.com

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