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Africa is acknowledged as a challenging environment for building and maintaining billion-dollar fortunes. According to Forbes estimates, despite economic strains and infrastructural inadequacies, the continent boasts over 20 billionaires, collectively worth over $80 billion as of April 2024. Notable rebounds in fortunes, like Femi Otedola’s rise to $1.8 billion, reflect ongoing trends, although entrenched family wealth and government ties still dominate Africa’s richest ranks.
10. Koos Bekker
- Net worth: $2.7 billion
- Bekker, a South African billionaire, orchestrated Naspers’ lucrative investment in Tencent Holdings, a decision hailed as one of history’s most profitable venture moves.
9. Mohammed Mansour
- Net worth: $3.2 billion
- Mansour heads Mansour Group, which has expanded its influence globally since introducing General Motors dealerships to Egypt in 1975. The company also holds exclusive distribution rights for Caterpillar equipment across Africa.
8. Naguib Sawiris
- Net worth: $3.8 billion
- Sawiris, scion of Egypt’s affluent family, engineered a lucrative deal by selling Orascom Telecom to VimpelCom in 2011, diversifying interests into hospitality with the development of Silversands resort in Grenada.
7. Nathan Kirsh
- Net worth: $6.8 billion
- Kirsh’s wealth stems from his ownership in Jetro Holdings, which supplies wholesale goods across the United States. His entrepreneurial journey in Swaziland is the source of his wealth.
6. Mike Adenuga
- Net worth: $7.0 billion
- Adenuga, a Nigerian entrepreneur, commands businesses in telecoms and oil production, notably spearheading Glo-1, a submarine internet cable project, and holding significant stakes in Conoil Producing and Conoil.
5. Abdul Samad Rabiu
- Net worth: $7.0 billion
- Rabiu chairs BUA Group, a leading Nigerian conglomerate notable for orchestrating the merger of Obu Cement with Cement Co. of Northern Nigeria to form BUA Cement Plc, a powerhouse entity on the Nigerian stock exchange.
4. Nassef Sawiris
- Net worth: $8.6 billion
- Sawiris, Egypt’s richest, leads OCI, a prominent nitrogen fertilizer producer, and holds notable stakes in Madison Square Garden Sports, Orascom Construction, and Adidas.
3. Nicky Oppenheimer
- Net worth: $9.5 billion
- Oppenheimer, the inheritor of the De Beers diamond legacy, made headlines by selling his stake to Anglo American, transitioning to private ownership and venturing into aviation with Fireblade Aviation.
2. Johann Rupert
- Net worth: $10.5 billion
- Rupert oversees luxury brand Compagnie Financiere Richemont, with stakes in Remgro and Reinet, maintaining a legacy established by his father with a diversified investment approach.
1. Aliko Dangote
- Net worth: $16.1 billion
- Dangote, Africa’s wealthiest for 13 years, leads Dangote Cement, the continent’s largest cement manufacturer, with ongoing fertilizer production and refinery construction projects, solidifying his position at the top.
