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CEOWORLD magazine - Latest - Stats Gate - Africa’s Billionaires 2023: Who Are the Richest People in Africa?

Stats Gate

Africa’s Billionaires 2023: Who Are the Richest People in Africa?


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?

RankNameNet WorthCountry
1Johann Rupert & family$11.3 BSouth Africa
2Aliko Dangote$11 BNigeria
3Nicky Oppenheimer & family$8.3 BSouth Africa
4Nassef Sawiris$7.4 BEgypt
5Nathan Kirsh$5.8 BEswatini
6Abdulsamad Rabiu$5.7 BNigeria
7Issad Rebrab & family$4.6 BAlgeria
8Mike Adenuga$3.7 BNigeria
9Mohamed Mansour$3.6 BEgypt
10Naguib Sawiris$3.3 BEgypt
11Koos Bekker$2.5 BSouth Africa
12Patrice Motsepe$2.4 BSouth Africa
13Mohamed Al Fayed$2.0 BEgypt
14Strive Masiyiwa$1.8 BZimbabwe
15Aziz Akhannouch & family$1.6 BMorocco
16Youssef Mansour$1.5 BEgypt
17Mohammed Dewji$1.5 BTanzania
18Othman Benjelloun & family$1.4 BMorocco
19Yasseen Mansour$1.3 BEgypt
20Michiel Le Rou$1.1 BSouth Africa
21Christoffel Wiese$1.0 BSouth Africa

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CEOWORLD magazine - Latest - Stats Gate - Africa’s Billionaires 2023: Who Are the Richest People in Africa?

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Alexandra Dimitropoulou

Alexandra Dimitropoulou

VP and News Editor
Alexandra Dimitropoulou is a VP and News Editor at CEOWORLD magazine, working to build and strengthen the brand’s popular, consumer-friendly content. In addition to running the company’s website, CEOWORLD magazine, which aims to help CEOs, CFOs, CIOs, and other C-level executives get smarter about how they earn, save and spend their money, she also sits on the Board of Directors of the Global Business Policy Institute. She can be reached on email You can follow her on Twitter at @ceoworld.