In the dynamic landscape of Africa’s economic prowess in 2024, a select group of visionary entrepreneurs emerges as the continent’s most affluent individuals.
These individuals, strategically navigating diverse industries, have amassed substantial fortunes, showcasing the vibrancy and evolution of Africa’s business sphere.
This article delves into the top 10 richest people in Africa, exploring their net worth and the diverse sectors that contribute to their wealth, as per the Forbes real-time billionaires list.
Africa showcases its economic dominance in 2024 through a select group of the continent’s most affluent individuals.
This exclusive cohort, comprising visionaries and entrepreneurs, strategically operates in varied industries, accumulating significant wealth.
The fortunes of these ten wealthiest individuals in Africa span diverse sectors, including luxury goods, diamonds, cement, telecommunications, and more.
These success narratives not only highlight individual achievements but also underscore the dynamic and ever-changing landscape of Africa’s business sphere.
As per the Forbes real-time billionaires list, here are the top 10 billionaires in Africa as of the beginning of 2024.
1. Johann Rupert & Family (South Africa) – $10.3 billion
Johann Peter Rupert, the eldest son of business tycoon Anton Rupert and his wife Huberte, stands as a South African billionaire businessman.
At the zenith of Africa’s wealth spectrum, Rupert commands a substantial net worth of $10.3 billion. His wealth is predominantly accrued from the luxury goods industry.
Serving as the founder and chairman of Richemont, a conglomerate encompassing prestigious brands like Cartier and Montblanc, Rupert has not only established a significant presence on the African continent but has also secured the 192nd position on the global wealth rankings.
2. Aliko Dangote(Nigeria) – $9.5 billion
Renowned Nigerian businessman and industrialist Aliko Dangote is a prominent figure in the African business arena, closely trailing behind Rupert with a considerable net worth of $9.5 billion.
With origins in Nigeria, Dangote has amassed his wealth through ventures in the cement and sugar industries.
Founding the Dangote Group, he has played a pivotal role in fostering Nigeria’s economic growth and job creation.
Dangote’s influence transcends the African continent, reflecting in his global ranking, which stands at 228th.
3. Nicky Oppenheimer & Family (South Africa) – $8.3 billion
South African billionaire businessman Nicholas F. Oppenheimer, commonly known as Nicky Oppenheimer, holds the third position with a substantial net worth of $8.3 billion.
The Oppenheimer family’s wealth is intricately tied to the diamond industry, marked by their significant involvement in the renowned De Beers Group.
Despite navigating market fluctuations in the diamond sector, the family’s strategic business foresight has established a lasting legacy, earning them the 283rd position on the global wealth rankings.
4. Nassef Sawiris (Egypt) – $7.4 billion
Egyptian businessman Nassef Onsi Sawiris, the youngest among Onsi Sawiris’ three sons, secures the fourth position in Africa’s wealthiest individuals with a substantial net worth of $7.4 billion.
His wealth is primarily rooted in the construction and investment sectors.
Serving as the CEO of Orascom Construction, Sawiris has played a pivotal role in advancing Egypt’s infrastructure development, earning him the 345th spot on the global wealth stage.
5️. Abdulsamad Rabiu (Nigeria) – $5.9 billion
Abdul Samad Isyaku Rabiu, a distinguished Nigerian billionaire, and philanthropist secure the fifth position with a net worth of $5.9 billion.
His wealth is principally generated from the cement and sugar industries. Serving as the founder and CEO of BUA Group, Rabiu has played a pivotal role in advancing Nigeria’s industrialization and fostering economic development, earning him the 489th position on the global wealth scale.
6. Nathan Kirsh (Eswatini) – $5.8 billion
Nathan “Natie” Kirsh (born 6 January 1932) is a South African billionaire businessman and philanthropist.
Nathan Kirsh, representing Eswatini (Swaziland), secures the sixth spot with a net worth of $5.8 billion.
Kirsh has diversified his wealth through interests in retail and real estate.
His influence extends globally, earning him the 497th position in the worldwide wealth rankings.
7. Issad Rebrab & Family (Algeria) – $4.6 billion
Issad Rebrab, an accomplished Algerian billionaire and CEO of the Cevital industrial group, the largest private company in Algeria, distinguishes himself as the seventh wealthiest individual with a net worth of $4.6 billion.
His wealth is primarily anchored in the food industry, marked by substantial investments in agribusiness and food processing.
Despite navigating challenges within the Algerian business landscape, Rebrab’s tenacity and entrepreneurial acumen have propelled him to the 647th position on the global wealth stage.
8. Mohamed Mansour (Egypt) – $3.6 billion
Egyptian billionaire entrepreneur and former politician, Mohamed Mansour, claims the eighth position among Africa’s wealthiest individuals, boasting a substantial net worth of $3.6 billion.
Known for his diversified business ventures in automotive distribution and retail, Mansour has played a pivotal role in shaping Egypt’s economic landscape.
His influence extends globally, securing him the 854th spot in the international wealth rankings.
9. Naguib Sawiris (Egypt) – $3.3 billion
Naguib Onsi Sawiris, an esteemed Egyptian businessman, holds the ninth spot with a net worth of $3.3 billion. His wealth is predominantly amassed from the telecommunications sector.
As the visionary founder of Orascom Telecom Holding, Sawiris has been instrumental in advancing telecommunications infrastructure throughout Africa, earning him the 927th global rank.
10. Mike Adenuga (Nigeria) – $3.1 billion
Chief Michael Adeniyi Agbolade Ishola Adenuga Jr CSG GCON stands as a prominent Nigerian billionaire entrepreneur, holding the esteemed position of one of the richest people in Africa.
Securing the tenth spot in the rankings is Mike Adenuga from Nigeria, boasting a substantial net worth of $3.1 billion. Adenuga’s wealth is strategically spread across the telecommunications and oil sectors.
As the visionary founder and proprietor of Globacom, a leading telecommunications company in Nigeria, and an oil exploration firm, he has not only established a formidable presence in his home country but has also earned global recognition, attaining the 1031st position in the worldwide wealth rankings.
Conclusion:
In concluding our exploration of Africa’s top 10 wealthiest individuals in 2024, it is evident that these entrepreneurs stand as pillars of economic influence and innovation.
From Johann Rupert’s luxury goods empire to Aliko Dangote’s contributions to Nigeria’s industrial growth, each individual’s success narrative underscores the continent’s economic dynamism.
As they secure positions not only on the African wealth hierarchy but also on the global stage, their ventures in industries like diamonds, cement, telecommunications, and more highlight Africa’s diverse and burgeoning business landscape.
These entrepreneurs not only accumulate wealth but contribute significantly to their respective countries’ development, leaving a lasting legacy in the ever-evolving narrative of Africa’s economic prominence.
