Africa’s Top 10 Billionaires In 2024 by FreeStuffsNG: 11:11pm On Apr 14 |
Africa’s millionaire population to reach 195,000 by 2032
Africa is widely recognized as one of the most challenging environments globally to establish and sustain a billion-dollar fortune.
Global investors remain cautious about its stock exchanges, while businesses grapple with economic strains, inadequate infrastructure, and fluctuating exchange rates.
Despite these challenges, Africa has produced billionaires (about 20) whose collective net worth exceeds $80 billion as of April 2024 according to Forbes estimates. Femi Otedola, for example, has seen his fortune rise to $1.8 billion, reflecting a trend of notable rebounds. However, some argue that entrenched family wealth or close government ties still dominate Africa’s richest ranks.
Take, for instance, Nigeria’s Aliko Dangote, whose fortune surged by $2.2 billion to reach $16.1 billion between January 22, 2024, and April 12, 2024, despite the naira’s devaluation in 2023 and other adversities.
Undoubtedly, Africa presents challenges for businesses. Nevertheless, the continent’s top 10 billionaires are forging ahead, undeterred by the obstacles they face.
10. Koos Bekker Networth-$2.7 billion Koos Bekker is South African billionaire who led Naspers, a publisher in 2001, acquiring a significant stake in the Chinese Internet giant Tencent Holdings for a reported $34 million—an investment widely regarded as one of the most lucrative venture decisions in history.
By 2019, Naspers restructured its portfolio, allocating assets to two publicly traded entities: entertainment firm MultiChoice Group and Prosus, which houses the valuable Tencent stake. Bekker retired as CEO of Naspers in March 2014, but returned to the company as chairman in April 2015.
9. Mohammed Mansour Networth-$3.2 billion
Mohamed Mansour leads Mansour Group, which traces its roots back to its establishment by his father, Loutfy, in 1952. Mansour’s influence expanded significantly when he introduced General Motors dealerships to Egypt in 1975, subsequently becoming one of GM’s major distributors globally. Additionally, Mansour Group holds exclusive distribution rights for Caterpillar equipment in Egypt and seven other African nations.
Beyond his business endeavors, Mansour has played a role in Egyptian politics, serving as the country’s minister of transportation from 2006 to 2009 during the tenure of President Hosni Mubarak.
8. Naguib Sawiris Networth-$3.8 billion
Naguib Sawiris, is from Egypt’s most affluent families. Notably, he engineered a lucrative deal by selling Orascom Telecom to Russian telecom giant VimpelCom (now Veon) in a multibillion-dollar transaction back in 2011. Currently serving as the chairman of Orascom TMT Investments, Sawiris oversees the conglomerate’s diverse portfolio, which includes stakes in various ventures such as an asset manager in Egypt and the renowned Italian internet company, Italiaonline.
Beyond his telecom businesses, Sawiris has diversified his interests into the hospitality sector. Notably, he spearheaded the development of Silversands, a luxurious resort located on the Caribbean island of Grenada.
7. Nathan Kirsh Networth-$6.8 billion
Nathan “Natie” Kirsh’s wealth is primarily derived from his ownership stake in U.S.-based Jetro Holdings, a company that encompasses popular restaurant supply stores like Jetro Cash and Carry and Restaurant Depot. Holding a commanding 70% share in the business, Kirsh oversees its operations, which revolve around supplying wholesale goods to various establishments, including bodegas, small stores, and restaurants across the United States.
Kirsh’s entrepreneurial journey traces back to his roots in Swaziland, where he laid the foundation for his fortune by establishing a corn milling business in 1958. Building on this initial success, he ventured into wholesale food distribution in apartheid-era South Africa.
6. Mike Adenuga Networth-$7.0 billion
Mike Adenuga is one of Nigeria’s esteemed entrepreneurs with businesses in telecoms and oil production. Notably, his brainchild, Globacom, is part of the country’s largest mobile phone network. He’s enterprise, Conoil Producing, oversees operations across six oil blocks situated in the Niger Delta, contributing significantly to the nation’s energy sector.
Globacom spearheaded the development of Glo-1, an expansive 6,100-mile-long submarine Internet cable linking Nigeria to the United Kingdom via Ghana and Portugal, thereby enhancing connectivity and digital infrastructure in the region. Additionally, Adenuga holds an ownership stake of 74% in the publicly traded gasoline firm Conoil, further solidifying his influence in Nigeria’s energy landscape.
5. Abdul Samad Rabiu Networth-$7.0 billion
Abdulsamad Rabiu is the chairman of BUA Group, a leading Nigerian conglomerate renowned for its activities in cement production, sugar refining, and real estate, has been making notable strides in the business landscape. In a significant move in early January 2020, Rabiu orchestrated the merger of his privately-owned Obu Cement company with the publicly listed firm Cement Co. of Northern Nigeria, of which he held controlling interest.
This led to the creation of BUA Cement Plc, a powerhouse entity now trading on the Nigerian stock exchange, with a substantial 98.2% ownership stake. Furthermore, Rabiu holds a 95% ownership share in BUA Foods, a prominent publicly traded food conglomerate.
4. Nassef Sawiris Networth-$8.6 billion
Nassef Sawiris, an investor and Egypt’s richest man, made headlines in December 2020 when he acquired a notable 5% stake in New York-listed firm Madison Square Garden Sports, which boasts ownership of the NBA Knicks and the NHL Rangers teams. Sawiris leads OCI, a prominent nitrogen fertilizer producer with facilities located in Texas and Iowa, trading on the Euronext Amsterdam exchange.
Additionally, Orascom Construction, an engineering and building firm under his purview, is listed on both the Cairo exchange and Nasdaq Dubai. Notably, his portfolio includes a substantial nearly 6% holding in the renowned German sportswear giant Adidas. Sawiris further made waves in the sports world by partnering with Fortress Investment Group’s Wes Edens to acquire the Premier League’s Aston Villa Football Club.
3. Nicky Oppenheimer Networth-$9.5 billion
Nicky Oppenheimer, 78-year-old inheritor of the De Beers diamond legacy, made headlines in 2012 by selling his 40% stake in the company to mining conglomerate Anglo American for a staggering $5.1 billion in cash. As the third generation to helm De Beers, Oppenheimer orchestrated its transition to private ownership in 2001.
For an impressive 85 years until 2012, the Oppenheimer family wielded significant influence in the global diamond industry. Beyond diamonds, Oppenheimer ventured into aviation, founding Fireblade Aviation in Johannesburg in 2014, specializing in chartered flights.
2. Johan Rupert Networth $10.5 billion
Johann Rupert is the man behind, lifestyle brand Compagnie Financiere Richemont, a renowned Swiss luxury goods company recognized for brands like Cartier and Montblanc. Established in 1998, Richemont emerged from a spinoff of assets previously held by Rembrandt Group Limited, founded by his father Anton in the 1940s. Rupert holds a 7% stake in Remgro, a diversified investment firm where he also holds the position of chairman. Additionally, he owns 27% of Reinet, an investment holding company based in Luxembourg.
1. Aliko Dangote Networth-$16.1 billion
Aliko Dangote, the wealthiest individual in Africa for the 13 years, established and currently leads Dangote Cement, the largest cement manufacturer on the continent. Through a holding company, he possesses an 85% stake in the publicly traded Dangote Cement. With a production capacity of 48.6 million metric tons annually, Dangote Cement operates in 10 African countries. In March 2022, Dangote’s fertilizer plant in Nigeria commenced operations after years of development. Additionally, construction of the Dangote Refinery has been completed. https://nairametrics.com/2024/04/14/africas-top-10-billionaires-in-2024/ 43 Likes 2 Shares |
Re: Africa’s Top 10 Billionaires In 2024 by FreeStuffsNG: 11:11pm On Apr 14 |
With all these our bold reforms and economic progress Nigeria is achieving under the brilliant, competent and patriotic leadership of President Bola Ahmed Tinubu, expect more Nigerians to feature on the list by December this year.
May God bless Nigeria for ever! Check my signature for free stuffs! 71 Likes 5 Shares |
Re: Africa’s Top 10 Billionaires In 2024 by TemplarLandry: 11:15pm On Apr 14 |
34 Likes 1 Share |
Re: Africa’s Top 10 Billionaires In 2024 by Stanleymaster1: 11:32pm On Apr 14 |
Why is Tinubu name not there. Or is Tinubu net worth not up to $10 billion. 18 Likes 4 Shares |
Re: Africa’s Top 10 Billionaires In 2024 by richie240: 11:34pm On Apr 14 |
FreeStuffsNG: With all these our bold reforms and economic progress Nigeria is achieving under the brilliant, competent and patriotic leadership of President Bola Ahmed Tinubu, expect more Nigerians to feature on the list by December this year.
May God bless Nigeria for ever! Check my signature for free stuffs! What of elon musk?? I thought he's a south African? 6 Likes 1 Share |
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Re: Africa’s Top 10 Billionaires In 2024 by rantingpigs: 11:36pm On Apr 14 |
All these Billionaires but None can give Boreholes to their communities?
Especially those audio Billionaires from NIGERIA?
A billionaire without projects for the less privileged and incapacitated is a worthless loser
Nonsense 39 Likes 2 Shares |
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Re: Africa’s Top 10 Billionaires In 2024 by DiskJokeyManic: 9:07am On Apr 15 |
Why my name no dey here?😐😐😐😐 6 Likes |
Re: Africa’s Top 10 Billionaires In 2024 by Godada(m): 9:07am On Apr 15 |
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Re: Africa’s Top 10 Billionaires In 2024 by Kingfcb(m): 9:07am On Apr 15 |
How do you even know all these 2 Likes 1 Share |
Re: Africa’s Top 10 Billionaires In 2024 by Anonimoux: 9:09am On Apr 15 |
Nice |
Re: Africa’s Top 10 Billionaires In 2024 by diamond68: 9:09am On Apr 15 |
Is that weird that these caucasoid albinos are making this list in Africa but no black man can make the list in their continent because of racism. Incredible |
Re: Africa’s Top 10 Billionaires In 2024 by Alexlalax1(m): 9:10am On Apr 15 |
I am stinkinly rich, yet my people are wretchedly poor. Than one na wealth. If my riches can't influence positively on my people, then I am a man most miserable!!! Inspite of the riches around us, we are wallowing in poverty!!!!!! 6 Likes |
Re: Africa’s Top 10 Billionaires In 2024 by SlavaUkraini: 9:11am On Apr 15 |
Aliko Dangote is worth far more than that peanut 16.1Billion
Add the Oil Refinery to the Calculation, and tell us his current true net worth...
Aliko Dangote, Making Nigeria Proud back to back for the past 13 years...... Respect
7 Likes 1 Share |
Re: Africa’s Top 10 Billionaires In 2024 by eedimo(m): 9:11am On Apr 15 |
Soon |
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Re: Africa’s Top 10 Billionaires In 2024 by SpecialAdviser(m): 9:12am On Apr 15 |
FreeStuffsNG: With all these our bold reforms and economic progress Nigeria is achieving under the brilliant, competent and patriotic leadership of President Bola Ahmed Tinubu, expect more Nigerians to feature on the list by December this year.
May God bless Nigeria for ever! Check my signature for free stuffs! Bold reform of Tinubu? Chai. Ekwensu eromancier mammy water 8 Likes |
Re: Africa’s Top 10 Billionaires In 2024 by grandstar(m): 9:12am On Apr 15 |
Kk |
Re: Africa’s Top 10 Billionaires In 2024 by HeadNigga: 9:12am On Apr 15 |
Billionaires list every time. The poor can't even eat. So at the end of the day I should use this to argue that Dangote can buy UBA and Elumelu or First bank and Ote$. 2 Likes |
Re: Africa’s Top 10 Billionaires In 2024 by INTEGRITYA1(m): 9:12am On Apr 15 |
Beautiful |
Re: Africa’s Top 10 Billionaires In 2024 by extol1(m): 9:13am On Apr 15 |
Aliko Dangote is enrich through public fund 7 Likes |
Re: Africa’s Top 10 Billionaires In 2024 by DyingFetus: 9:13am On Apr 15 |
Money's not happiness
You can buy Lambo and end up crying innit 1 Like |
Re: Africa’s Top 10 Billionaires In 2024 by odinaccess: 9:14am On Apr 15 |
Whr we dey for the list na back page I guess |
Re: Africa’s Top 10 Billionaires In 2024 by Caramia2020(m): 9:14am On Apr 15 |
Aliko monopolist milking Nigerians from all aspects. 6 Likes |
Re: Africa’s Top 10 Billionaires In 2024 by LocalFARMERS: 9:15am On Apr 15 |
The North alone has three people on the list of the richest Africans. Tomorrow, some people go come online to claim that they are rich 20 Likes 2 Shares |
Re: Africa’s Top 10 Billionaires In 2024 by LocalFARMERS: 9:15am On Apr 15 |
Nnnn |
Re: Africa’s Top 10 Billionaires In 2024 by obinna58(m): 9:15am On Apr 15 |
politicians are the richest If beta edu was given one more year with her incredible looting ability, she’ll have been richer than all of them combined 11 Likes 1 Share |
Re: Africa’s Top 10 Billionaires In 2024 by wizelink(m): 9:15am On Apr 15 |
Okay. I go enta that list by December 2024 |
Re: Africa’s Top 10 Billionaires In 2024 by ayjay45: 9:16am On Apr 15 |
DyingFetus: Money's not happiness
You can buy Lambo and end up crying innit but it's better to cry in your lambo than to cry while trekking 1 Like |
Re: Africa’s Top 10 Billionaires In 2024 by OriOko88(m): 9:16am On Apr 15 |
Most of them are SA Dutch and Arabs. The only real Africans there are Nigerians. So there's no black billionaire in South Africa, no wonder their men are lazy punk asss rapists. The whites are still ruling us in our Continent. Only Nigeria is d real giant of Africa. All other Africa countries are puppets 14 Likes |