The wealth of Africa’s ten richest individuals has reached a combined total of $142.5 billion at the beginning of November, an increase of $21.2 billion since September 1. This surge is primarily attributed to a significant rise in the fortune of Aliko Dangote, who now accounts for nearly 39% of the group’s total wealth.
According to Forbes’ real-time billionaires tracker, Dangote’s net worth stands at $55.4 billion, marking a $24 billion gain in just two months. His wealth, along with that of Nathan Kirsh and Johann Rupert, totals $90.1 billion, representing 63% of the entire group.
In this latest ranking, there has been one notable change: Algerian businessman Issad Rebrab has entered the top ten with a fortune of $3.6 billion, replacing South African banker Michiel Le Roux, whose net worth has fallen to $3.5 billion, placing him in 11th position. Patrice Motsepe is ranked 12th with $3.3 billion, while Koos Bekker follows in 13th with a net worth of $3.2 billion.
The figures reflect share prices and exchange rates as of November 1. Below are the details of Africa’s ten wealthiest individuals:
1. Aliko Dangote, $55.4 billion
Dangote has maintained his position as Africa’s richest person for 15 years. His wealth surged following the recent initial public offering of his Dangote Petroleum Refinery and Petrochemicals, which valued the company at nearly $50 billion. The offering, completed last week, raised approximately ₦2.15 trillion ($1.58 billion). Additionally, Dangote Cement’s stock more than doubled this year, significantly boosting his net worth.
2. Nathan Kirsh, $19.2 billion
Kirsh, who established his first business in grain milling in Eswatini, derives most of his fortune from Jetro Holdings, which owns the Restaurant Depot and Jetro Cash & Carry chains in the U.S. His net worth has remained stable since September.
3. Johann Rupert and family, $15.5 billion
Rupert chairs Compagnie Financière Richemont, the Swiss parent company of luxury brands like Cartier and Van Cleef & Arpels. His fortune has decreased by $2 billion since September. Recently, Richemont appointed his son as co-deputy chairman as the company considers joining a consortium bidding for diamond producer De Beers.
4. Abdul Samad Rabiu, $12.3 billion
Rabiu, the founder of Nigeria’s BUA Group, primarily earns his wealth from BUA Cement and BUA Foods. His net worth has decreased by $300 million since September, even as BUA Cement reported a 60% increase in profits for the nine-month period.
5. Nicky Oppenheimer and family, $10.6 billion
Oppenheimer’s family previously controlled De Beers. After selling their stake in 2012, they now invest through Oppenheimer Generations, with his son serving as executive chairman.
6. Nassef Sawiris, $9.5 billion
As Egypt’s wealthiest individual, Sawiris is a significant stakeholder in Adidas and co-owns the English football club Aston Villa. His net worth has declined by $100 million since September.
7. Mike Adenuga, $6.8 billion
Adenuga, who founded Globacom, one of Nigeria’s leading mobile operators, also controls Conoil. His fortune has decreased by $200 million over the past two months.
8. Naguib Sawiris, $5.6 billion
The elder brother of Nassef Sawiris, Naguib Sawiris built Orascom Telecom and currently leads Orascom Investment Holding. His wealth has remained unchanged since September.
9. Mohamed Mansour, $4 billion
Mansour oversees Mansour Group, the family business established in 1952, involved in distributing various brands, including General Motors and Caterpillar equipment. He has previously served as Egypt’s transport minister.
10. Issad Rebrab, $3.6 billion
Rebrab’s wealth stems from founding Cevital, Algeria’s largest private company. His son now manages day-to-day operations. The change in ranking comes as Le Roux’s fortune fell from $3.7 billion in September.
