Dangote Retains Crown as Africa’s Billionaire Club Swells. Here’s Forbes 2026 Rankings of Africa’s Richest

According to data from Forbes, Africa’s 23 billionaires now control a combined wealth of about $126.7 billion, a 21% increase from 2025.

The collective wealth gain of $20.3 billion in a single fiscal year represents the first time Africa’s billionaire class has surpassed the $100 billion threshold, according to Forbes’ latest ranking released on March 9.

Much of the growth was driven by surging equity markets in Nigeria and South Africa and strong performance from major industrial and financial companies.

Below are the top 10 richest people in Africa in 2026.

1. Aliko Dangote ($28.5 billion) | Manufacturing

Africa’s richest man retained his crown for the 15th consecutive year.
Dangote built his fortune through the Dangote Group, which dominates cement, sugar, fertilizer and salt production across Africa.

His wealth jumped by $4.6 billion in 2026, largely due to a 69% surge in shares of Dangote Cement. The group is also expanding the Dangote Refinery in Lagos, one of the largest oil refineries globally.

2. Johann Rupert ($16.1 billion) | Luxury retail

Rupert controls Richemont, owner of global brands including Cartier, Montblanc and Van Cleef & Arpels.

His wealth is anchored in the global luxury goods market, while his investment firm Remgro holds stakes in healthcare, financial services and private equity.

3. Abdulsamad Rabiu ($11.2 billion) | Diversified industries

Rabiu recorded the largest wealth increase on the continent in 2026, with his fortune rising 120% in one year.

He founded the BUA Group, whose core assets include BUA Cement and BUA Foods, companies operating in cement manufacturing, agriculture and sugar refining.

4. Nicky Oppenheimer — $10.6 billion | Mining & investments

Oppenheimer inherited the diamond empire built around De Beers.

After selling his family’s stake in the company, he shifted toward private equity investments through Stockdale Street while also funding wildlife conservation initiatives across southern Africa.

He owns at least 720 square miles of conservation land across Southern Africa.

5. Nassef Sawiris ($9.6 billion) | Construction & global investments

Sawiris built his wealth through OCI N.V. and Orascom Construction.

He owns a stake in English Premier League club Aston Villa.

He holds approximately 6 per cent of sportswear giant Adidas, where he is set to become chairman at the company’s shareholder meeting in May.

6. Mike Adenuga ($6.5 billion) | Telecommunications & energy

Adenuga built his wealth through Globacom, one of the largest telecom networks in Nigeria.

He also owns Conoil Producing, with interests in energy, banking and real estate.

7. Naguib Sawiris ($5.6 billion) | Telecom & investments

Sawiris made his fortune building Orascom Telecom, which expanded across Africa, Asia and the Middle East.

Today, the billionaire’s investments span media, tourism, venture capital and gold mining.

8. Patrice Motsepe ($4.3 billion) | Mining

Motsepe is the founder of African Rainbow Minerals, producing gold, platinum and iron ore.

He also owns Mamelodi Sundowns F.C. and serves as president of the Confederation of African Football.

9. Mohamed Mansour ($4 billion) | Diversified

Mansour built his wealth through the Mansour Group, active in automotive distribution, logistics and consumer goods.

The company partners with global brands such as General Motors and Caterpillar Inc.

10. Michiel Le Roux ($3.8 billion) | Finance

Le Roux founded Capitec Bank, which revolutionised banking in South Africa with low-cost financial services targeting underserved customers.

Capitec’s rapid growth has made it one of Africa’s most successful financial institutions.

Key insights from the 2026 ranking

• Total wealth of Africa’s billionaires: $126.7 billion
• Increase from 2025: about 21%
• Number of billionaires: 23
• Countries with the most billionaires:
  • South Africa-7
  • Egypt-5
  • Nigeria-4
  • Morocco-3

Only four billionaires recorded declines in wealth. Moroccan property developer Anas Sefrioui lost $300 million after shares of his company, Group Addoha, fell more than 30 per cent.

Nigerian businessman Femi Otedola lost $200 million after selling the majority of his stake in Geregu Power at a discount.

The two men are now tied as the lowest-ranked billionaires on the list, each worth approximately $1.3 billion.

Fourteen of the 23 billionaires, representing 61 per cent, built their own fortunes rather than inheriting them.

Notably, no women currently appear on Africa’s billionaire list, highlighting a persistent gender gap in wealth creation across the continent.

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