Africa’s population of wealthy individuals is on the rise, with 21 billionaires currently residing on the continent. Johann Rupert is the wealthiest man in Africa, having started his career with a banking apprenticeship in New York before returning to South Africa and eventually transitioning to the retail industry. Rupert is now the chairman of Swiss luxury goods company Compagnie Financiere Richemont, with a net worth of $11.3 billion.
Coming in at number two on the list is Aliko Dangote. He started as a small sugar trader but now has a net worth of $11 billion. His company, the Dangote Group, is a conglomerate in Africa with interests in various sectors, including sugar, cement, and real estate.
Other billionaires on the list, like Nicky Oppenheimer (3rd) and Patrice Motsepe (12th), made their fortunes in the mining industry, which contributes almost 10% to sub-Saharan Africa’s GDP. Meanwhile, Naguib Sawiris (10th) and Strive Masiyiwa (14th) have built remarkable telecom empires.
Interestingly, only eight of the 54 African countries are represented on Africa’s rich list, and among them, three countries, Nigeria, Egypt, and South Africa, account for more than two-thirds of the top-ranked billionaires.
These billionaires hail from countries that make significant contributions to Africa’s economy. The top three GDPs in Africa belong to Nigeria, South Africa, and Egypt. Issad Rebrab (ranked 7th) comes from Algeria, which is fourth on the list. Morocco, where Aziz Akhannouch (ranked 15th) and Othman Benjelloun (ranked 18th) are based, takes the fifth spot.
Africa's Billionaires 2023: Who Are the Richest People in Africa?
| Rank | Name | Net Worth | Country |
|---|---|---|---|
| 1 | Johann Rupert & family | $11.3 B | South Africa |
| 2 | Aliko Dangote | $11 B | Nigeria |
| 3 | Nicky Oppenheimer & family | $8.3 B | South Africa |
| 4 | Nassef Sawiris | $7.4 B | Egypt |
| 5 | Nathan Kirsh | $5.8 B | Eswatini |
| 6 | Abdulsamad Rabiu | $5.7 B | Nigeria |
| 7 | Issad Rebrab & family | $4.6 B | Algeria |
| 8 | Mike Adenuga | $3.7 B | Nigeria |
| 9 | Mohamed Mansour | $3.6 B | Egypt |
| 10 | Naguib Sawiris | $3.3 B | Egypt |
| 11 | Koos Bekker | $2.5 B | South Africa |
| 12 | Patrice Motsepe | $2.4 B | South Africa |
| 13 | Mohamed Al Fayed | $2.0 B | Egypt |
| 14 | Strive Masiyiwa | $1.8 B | Zimbabwe |
| 15 | Aziz Akhannouch & family | $1.6 B | Morocco |
| 16 | Youssef Mansour | $1.5 B | Egypt |
| 17 | Mohammed Dewji | $1.5 B | Tanzania |
| 18 | Othman Benjelloun & family | $1.4 B | Morocco |
| 19 | Yasseen Mansour | $1.3 B | Egypt |
| 20 | Michiel Le Rou | $1.1 B | South Africa |
| 21 | Christoffel Wiese | $1.0 B | South Africa |
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