Forbes has released its 2025 Billionaires List, showcasing Africa’s wealthiest individuals, with business moguls Aliko Dangote, Johann Rupert, Nicky Oppenheimer, and Mike Adenuga making the list.

The annual ranking, published on Saturday, March 2025, reveals that Africa now boasts 22 billionaires, with their collective wealth soaring to $105 billion—up from $82.4 billion in 2024. This surge has been attributed to rising market valuations and economic gains.

At the helm of the list is Aliko Dangote, owner of Dangote Petroleum Refinery, with a staggering net worth of $23.9 billion, a sharp increase from $13.9 billion last year. Forbes credited this jump to the refinery’s valuation, which was factored into his wealth for the first time.

Following Dangote is Mike Adenuga, chairman of Globacom, ranked fifth in Africa with a net worth of $6.8 billion. Abdulsamad Rabiu, chairman of BUA Group, secured the sixth position with $5.1 billion.

Femi Otedola, chairman of First Bank of Nigeria (FBN) Holdings Plc, shares the 16th spot, with a net worth of $1.5 billion.

Top Richest Africans on Forbes 2025 List

- Aliko Dangote (Nigeria) – $23.9 billion (Dangote Petroleum Refinery)

- Johann Rupert (South Africa) – $11.1 billion (Luxury goods, Richemont)

- Nicky Oppenheimer (South Africa) – $9.4 billion (Diamonds, De Beers)

- Mike Adenuga (Nigeria) – $6.8 billion (Telecoms, Globacom)

- Nassef Sawiris (Egypt) – $6.7 billion (Construction, Orascom)

- Abdulsamad Rabiu (Nigeria) – $5.1 billion (Cement & Sugar, BUA Group)

- Koos Bekker (South Africa) – $2.8 billion (Media, Naspers)

- Mohamed Mansour (Egypt) – $2.6 billion (Diversified business, Mansour Group)

- Strive Masiyiwa (Zimbabwe) – $2.5 billion (Telecoms, Econet)

- Youssef Mansour (Egypt) – $1.9 billion (Retail, Mansour Group)

- Mohammed Dewji (Tanzania) – $1.8 billion (Manufacturing, MeTL Group)

- Aziz Akhannouch (Morocco) – $1.7 billion (Petroleum, Afriquia Gaz)

- Yasseen Mansour (Egypt) – $1.7 billion (Consumer goods, Mansour Group)

- Othman Benjelloun (Morocco) – $1.6 billion (Banking & Insurance, BMCE Bank)

- Femi Otedola (Nigeria) – $1.5 billion (Banking, FBN Holdings)

- Michiel Le Roux (South Africa) – $1.4 billion (Banking, Capitec Bank)

- Christoffel Wiese (South Africa) – $1.3 billion (Retail, Pepkor & Shoprite)

Forbes also highlighted that South Africa led the rankings with seven billionaires, followed by Nigeria and Egypt with four each. Other nations represented include Morocco (3), Algeria (1), Tanzania (1), and Zimbabwe (1).

“Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there,” Forbes explained. “This excludes Sudanese-born billionaire Mo Ibrahim, a U.K. citizen, and South African Nathan Kirsh, who operates out of London.”

The net worth figures were determined using stock prices and currency exchange rates as of March 7, 2025.