Chairman of the Dangote Group, Aliko Dangote, and Chairman of telecommunications firm Globacom, Mike Adenuga, are among four Nigerians who made it to the latest list of African billionaires released by Forbes.
The 2025 Forbes ranking of African billionaires also includes Chairman of BUA Group, Abdulsamad Rabiu, and Chairman of Geregu Power and First HoldCo Plc, Femi Otedola.
Africa’s billionaires, 22 of them this year as against 20 last year, saw their cumulative wealth surpass $100 billion for the first time ever, rising to a total of $105 billion from $82.4 billion the previous year.
The wealth of Nigerians on the list also rose to $37.3 billion.
Aliko Dangote tops the African billionaires list for the 14th consecutive year. His net worth rose from $13.9 billion a year ago to an estimated $23.9 billion, due primarily to Forbes adding the value of his Dangote Petroleum Refinery & Petrochemicals, Africa’s largest and the world’s biggest single-train facility.
South African luxury goods tycoon Johann Rupert is the second richest African, a position he has occupied since 2022. His fortune rose 39 per cent to $14 billion, the second-largest gain among the billionaires.
Mike Adenuga comes in as the second richest Nigerian after Dangote, with $6.8 billion. He is followed by Abdulsamad Rabiu at $5.1 billion, and Femi Otedola at $1.5 billion.
Otedola’s fortune grew more than 30 per cent as shares of Geregu surged some 40 per cent in the past year following a jump in revenue and profits.
Two African billionaires who made the list in the past and then fell off are back on again. They include Moroccan housing billionaire, Anas Sefrioui, who returns to the ranking as shares of real estate firm Douja Promotion Groupe Addoha, which he controls, more than doubled in the past year as the company reported increased home sales, and founder of a South African investment firm, Jannie Mouton, who also returns following a 59 per cent jump in the share price of Capitec Bank Holdings, one of his most significant holdings.
Zimbabwean telecommunications magnate, Strive Masiyiwa, who had his fortune slip last year amid currency change in his country, is estimated by Forbes to be worth at $1.2 billion, down about 33 per cent from the 2024 list.
South Africa recorded the largest number of billionaires this year, with seven, followed by Nigeria and Egypt with four each, Morocco with three, Algeria with one (Isaad Rebrab), Tanzania with one (Mohammed Dewiji), and Zimbabwe with one (Masiyiwa).
