Top 10 Billionaires in Africa: Forbes List (Updated)
If you have been asking the question “Who are the top 10 African Billionaires?” then you get your answers in this article. Africa Billionaires Forbes list for this year and every detail you need to know about them.
As we all know Africa is the second-largest continent in the world after Asia, but not just being the 2nd largest continent, Africa also has a huge population and size.
Without much hype, Africa has quite a number of billionaires due to how rich Africa is in terms of natural resources, minerals, and also a wide range of fertile land which gives it an edge in Agriculture.
With over 2500 different languages and countless tribes, with a median age of 19.7, Africa has the youngest average population in the world.
Africa is believed to be one of the richest continents in the world, though this is a wrong perception.
Even at that, we have some poor countries in Africa which we cannot just overlook, but the fact is Africas who are rich are always having an unbelievable massive wealth range.
The continent can boast of some prominent and well recognized, globally respected rich men and women and not just in their respective countries, they compete with wealthy people from other continents of the world.
Top 10 Billionaires in Africa by Forbes
Here is the list of Forbes’s top 10 African billionaires; we have made available for you the Forbes list of the top 10 richest Africans and their current net worth and assets;
1. ALIKO DANGOTE
Networth $10.1 billion
Alhaji Aliko Dangote is certainly the richest man in Africa, there’s no doubt that he has been maintaining that spot for years. Aliko Dangote is a Nigerian businessman with a net worth of $10.1billion.
He is the founder of Dangote groups and he has been the only African to make the list of top 100 richest people in the world. In the global ranking, Aliko Dangote is the 100th richest man in the world, he is also known for his philanthropic gesture and he didn’t get his wealth from oil and gas.
The 62year Kano-born billionaire and Founder of Dangote groups produce sugar, cement, salt, flour, pasta, canned tomatoes, and many more. Dangote cement factory produces over a 40million metric tons of cement per year and is the biggest cement company in Nigeria and other African countries.
He has over 11,000 employees, thousands of tucks and he is the largest conglomerate in West Africa and since has the highest number of employees in the Construction Industry in Nigeria.
As we speak, Dangote is on to another massive project which will earn him extra billions in the nearest future as he is currently building his refinery in the heart of Lagos State Nigeria.
The ambitious businessman is happily married and blessed with 15 children and he is also a grandfather.
Being the number one on the top 10 African billionaires list, Dangote never relents as he comes up with more business ideas and executes them.
2. NASSEF SAWIRIS
Networth: $8 Billion
Nassef Onsi Sawiris is an Egyptian with a net worth of $8billion, he is the second richest man in Africa. Born in 1961, Sawiris is 58years old. He is the youngest of Onsi Sawiris’ three sons
Nassef was among the board of directors of the Cairo and Alexandria Stock Exchanges from 2004 to 2007, then after that, in the year 2008 to 2010, he later became a member of the Board of Directors at the Dubai International Financial Exchange (DIFX).
Nassef Sawiris’s net worth plummeted from $6.3 billion in 2019 to $8 billion in 2020 which makes him the second richest African billionaire in the world.
3. MIKE ADENUGA
Networth: $7.7 billion
Michael Adeniyi Agbolade Ishola Adenuga Jr, GCON is another Nigerian to make the Forbes list of the richest man in Africa, no doubt Michael Adenuga is on the list of top 10 African Billionaires.
Mike Adenuga is the owner of Nigeria’s indigenous telecommunication giant Globacom (Glo) and Mike Adenuga Net Worth is $7.7billion, though there was a huge decline from his previous net worth in 2019 at $9.2 billion. It is believed he is into some kind of investment which are not been opened to the public yet.
Nevertheless, Mike Adenuga is currently the 3rd richest African and he is 66 years old.
His telecommunication network spreads across some African countries like Ghana, Côte d’Ivoire, and the Benin Republic and he owns stakes in the Equitorial Trust Bank and the popular oil exploration firm Conoil.
Mike Adenuga had some rough experiences that almost affected him in 2009, he was detained and investigated for fraud by the Economic and Financial Crime Commission(EFCC), though he got pardoned by President Musa Yar’adua led administration.
4. NICKY OPPENHEIMER
Networth: $7.7 billion
Nicholas F. Oppenheimer is a South African philanthropist and businessman with a net worth of $7.7billion. According to Forbes, he ranks 202nd richest man in the world, he is currently the richest man in South Africa. The 74year old is a prolific businessman.
Nicholas Oppenheimer’s family can be said to have contributed to his wealth in one way or the other, he was the Chairman of the famous DIAMOND COMPANY DeBeers which was run by his family.
Nicky was also the former deputy chairman of ANGLO AMERICAN after he sold his shares worth $5 billion from DeBeers groups.
5. JOHANN RUPERT
Networth: $6.5 billion
Johann Peter Rupert is another South African to make it to the list of African Billionaires with a net worth of $6.5 billion. In the world rankings, Johann Rupert is the 228th richest in the world and the fifth in the list of Billionaires in Africa.
He is Aged 69years also the eldest son of business tycoon Anton Rupert, Johann Rupert is the chairman of the Swiss-based company which is called Richemont and Remgro a South African based company.
He is a very smart businessman that also loves to study how society utilizes the available resources that were given to them and in 2004, he was then awarded an Honorary Doctorate in Economics.
6 ISSAD REBRAB
Networth: $4.4 billion
Issad Rebrab is the richest Algerian businessman and the only Algerian to make it on our list of top 10 African Billionaires with a net worth of $4.4 billion. Issad Rebrab is 75years old.
Issad Rebrab is the CEO of Cevital industrial group which is known as the largest private company in Algeria, deals in steel, electronics, agribusiness, food e.t.c.
He is a philanthropist and someone who loves giving different quotes, his favorite quote which has been keeping him going is “Think Big, Start Small and Move Fast”, so encouraging. Recently, he was sentenced to six months due to evasion of tax, banking, and custom offenses.
7. MOHAMMED MANSOUR
Networth: $3.3 billion
Mohammed Mansour is another Egyptian businessman, the third richest Egyptian who made it on this list with a net worth of $3.3billion. He is the CEO of Mansour groups which is a multinational conglomerate in the country. Monsour Group of companies is the largest general motors dealer in the world and since has employed over 60,000 people.
The Mansour Group which is the second-largest company in Egypt deals in information technology, tourism, finance, energy, automobiles, food, shipping, defense, retail, consumer durables e.t.c
8. ABDUL-SAMAD RABIU
Networth: $3.1 billion
Abdul Samad Isyaku Rabiu is another Nigerian businessman and founder of BUA Group, Rabiu makes his wealth from cement, sugar, oil, flour, and iron mostly.
History made us know that his late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the late 1970s and 1980s.
Abdul Samad Rabiu, born in Kano on the 4th of August 1960, aged 69 years is a Nigerian businessman and the chairman of the Nigerian Bank of Industry (BOI).
His company has many subsidiaries which include the BUA Oils, BUA Estates, BUA Sugar, BUA Cements, and BUA Terminals and Ports.
9. NAGUIB SAWIRIS
Networth: $3 billion
Naguib Onsi Sawiris is an Egyptian and the brother to the third richest man in Africa with a net worth of $3 billion. Born in Cairo Egypt on 17th June 1955 (age 64 years). The elder brother of Naseef Onsi Sawiris is ranked 9th on the list of African Billionaires. He is the chairman of Weather Investments and Orascom Telecom Media and Technology Holding S.A.E.
Having shares in 14 companies, Naguib is also the chairman of Gemini Development BV and the CEO for CHEO Technology Joint Venture Co.
10. PATRICE MOTSEPE
Networth: $1.6 billion
Patrice Tlhopane Motsepe is the chairman and founder of African Rainbow Minerals, he is a South African mining businessman. Patrice Motsepe also made it on the list of the top 10 Billionaires in Africa.
Patrice was born on 28th January 1962 (age 58 years), Patrice Motsepe Net Worth is $1.6 billion in the 2020 Forbes ranking.
As stated earlier, his major wealth is from his mining company, the African Rainbow Minerals which specializes in the mining of gold, base metals, ferrous metals, and platinum.
Patrice is now diversifying into other ventures such as the African Rainbow Capital, which is a privately-owned equity firm, he also invested in sports, Mamelodi Sundowns Football Club which he is the owner and president and a stakeholder in Sanlam, a financial services firm.
Conclusion
The Forbes list of African Billionaires featured the well-known and consistent billionaires in Africa, and there is one thing common about those billionaires that made it on the list, they are all philanthropists and have been excellently doing well in their respective countries.
We hope we have provided you with enough details. If you feel we are missing any on the list kindly make use of the comment box. We would be glad to update this post. Thanks
