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Africa’s 23 billionaires now worth $126.7bn, up 21% from 2025
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Aliko Dangote remains Africa’s richest man with $28.5bn net worth
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Nigeria has four billionaires on the latest Forbes ranking
African billionaires have collectively added $20.3 billion to their fortunes over the past year, bringing the combined wealth of the continent’s 23 richest individuals to $126.7 billion, according to the latest ranking released by Forbes.
The list shows that Aliko Dangote remains Africa’s richest person with an estimated net worth of $28.5 billion, an increase of $4.6 billion from last year. Shares of Dangote Cement surged nearly 69%, after the company doubled its profits in 2025 to a record N1 trillion.
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Dangote also recently announced a $400 million agreement with a Chinese machinery firm to accelerate plans to double the capacity of the Dangote Petroleum Refinery by 2029.
READ ALSO: Dangote Refinery Hikes Petrol Price to N1,175 per Litre
Nigeria maintained a strong presence on the list with four billionaires—Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola.
Rabiu recorded the largest wealth increase, with his fortune rising 120% to $11.2 billion, driven largely by a 135% surge in shares of BUA Cement. He is now Africa’s third-richest billionaire, behind South African luxury goods magnate Johann Rupert, whose net worth stands at $16.1 billion.
Other notable billionaires include Nicky Oppenheimer, Nassef Sawiris, Patrice Motsepe, and Mohamed Mansour.
Despite the general increase in wealth, a few billionaires recorded losses. Otedola’s fortune declined by $200 million to $1.3 billion, although he returned to the ranking after selling most of his stake in Geregu Power.
Morocco’s Anas Sefrioui also lost about $300 million following a decline in the shares of Group Addoha.
According to Forbes, the rise in wealth among Africa’s richest individuals was largely driven by strong equity market performance and stabilising regional currencies.
South Africa leads the continent with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.
Most of the billionaires on the list are self-made entrepreneurs, though no women appeared in the 2026 ranking, and nearly all of the billionaires are over the age of 60.