For the first time in history, Africa’s billionaires have crossed the $100 billion mark in collective net worth, reaching a staggering $105 billion, according to the 2025 Forbes rankings. This represents a sharp rise from last year’s $82.4 billion, underscoring the resilience and growth of the continent’s wealthiest, despite ongoing economic and political challenges.
Aliko Dangote: Africa’s Richest for 14 Straight Years
Nigeria’s Aliko Dangote has once again topped the list with an estimated net worth of $23.9 billion, up significantly from $13.9 billion in 2024. His boost in fortune is largely due to the operational success of his refinery near Lagos, which began producing refined oil in early 2024.
Dangote described the project as a “pivotal step” in reducing Africa’s reliance on imported petroleum, calling it a major contributor to local wealth and industrial growth.
South Africa, Nigeria Dominate the Rankings
South Africa boasts the highest number of billionaires on the continent, with seven individuals featured. Nigeria and Egypt follow closely, with four each, while Morocco has three. Other countries represented include Algeria, Tanzania, and Zimbabwe.
South African billionaire Johann Rupert remains second on the list with a $14 billion fortune, marking a 39% increase. Nigeria’s Femi Otedola, buoyed by a 40% surge in Geregu Power Plc shares, now holds $1.5 billion.
Two billionaires re-entered the list this year: Moroccan tycoon Anas Sefrioui and South African investor Jannie Mouton. Their return was powered by strong gains in real estate and banking sectors, respectively.
However, not all billionaires fared well. Zimbabwe’s Strive Masiyiwa saw his wealth drop by a third due to currency disruptions, bringing his net worth down to $1.2 billion.
Ranking Criteria
Forbes compiled the rankings using publicly available data like stock valuations and exchange rates as of March 7, 2025. Only billionaires who reside in Africa or run primary businesses on the continent were considered. Global citizens with African roots but overseas business interests, such as Mo Ibrahim and Nathan Kirsh, were excluded.
The report reflects a broader global trend, with equity markets seeing a 22% rise over the past year, reinforcing the billionaires’ growing resilience and adaptability.
