It is a fact that the continent of Africa is still in its development stages, but the continent can now boast of 22 billionaires with a combined net worth of $105 billion, according to the latest Forbes Billionaire List released in March 2025.
For the first time, the combined wealth of Africa’s billionaires has crossed the $100 billion mark, which is up from $82.4 billion and 20 billionaires in the previous year.
This growth comes despite the persistent challenges across Africa, including currency devaluations, political instability, and fragile consumer markets.
Interestingly, this figure is driven largely by the surging fortunes of Nigerian business moguls, although the country had only 4 billionaires on the list.
Aliko Dangote, Africa’s richest man, has once again topped the list for the 14th consecutive year.
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His net worth surged from $13.9 billion last year to $23.9 billion in 2025, largely due to the inclusion of the Dangote Refinery’s valuation in Forbes’ calculations.
Dangote also became one of the 100 richest people in the world, a milestone no other African billionaire has reached this year.
The list also features two other Nigerians: Mike Adenuga, ranked 5th on the list of top African billionaires, and Abdulsamad Rabiu came 6th.
Both men ranked 2nd and 3rd, respectively, on the top Nigerian list. Femi Otedola ranked 16th on the list and 4th from Nigeria.
Rabiu’s wealth stems from his extensive holdings in cement, sugar, and real estate, while Adenuga’s telecom and oil assets continue to deliver strong returns despite Nigeria’s known unstable macroeconomic headwinds.
Although Nigerian billionaires made headlines with their wealth increases, South Africa retained the highest number of entries on the list with seven billionaires.
The country’s richest man, Johann Rupert, saw his fortune rise 39% to $14 billion, making him the second-richest African.
Rupert chairs Richemont, the Swiss-based luxury goods giant behind brands like Cartier and Montblanc, and has the No. 2 spot in Africa’s billionaire rankings since 2022.
Others on the list are South African billionaires Nicky Oppenheimer ($9.4 billion), Patrice Motsepe ($3.2 billion), Koos Bekker ($2.7 billion), and Michiel Le Roux ($1.7 billion).
Egypt has four billionaires on the list, led by construction and engineering magnate Nassef Sawiris, whose net worth increased to $8.7 billion following a rise in Adidas shares, where he owns a significant stake.
Morocco contributed three billionaires, including the return of real estate mogul Anas Sefrioui, who re-entered the list after a rally in the share price of his firm Douja Promotion Groupe Addoha.
Tanzania’s lone billionaire, Mohammed Dewiji, remains on the list, as does Zimbabwe’s Strive Masiyiwa, although the latter’s fortune declined sharply following Zimbabwe’s currency reforms.
