Aliko Dangote Retains Title as Africa’s Richest for 14th Consecutive Year with $23.9 Billion Fortune, as Forbes’ 2024 List Shows Record Wealth Surge Among the Continent’s Billionaires
Nigerian industrialist Aliko Dangote has retained his title as Africa’s richest person for the 14th consecutive year, with his net worth surging to $23.9 billion, according to Forbes’ 2024 Africa Billionaires list. His rise, fueled by the inclusion of his newly operational oil refinery, also places him among the world’s top 100 richest individuals.
Nigeria’s Femi Otedola reentered the rankings with a $1.5 billion fortune, while telecom and oil magnate Mike Adenuga secured the fifth spot in Africa at $6.1 billion. Fellow Nigerian billionaire Abdulsamad Rabiu, founder of BUA Group, ranked sixth in Africa with $8.1 billion.
Africa’s billionaires collectively amassed a record $105 billion, benefiting from a global market rally and gains in cement, luxury goods, power, and telecommunications. South Africa’s Johann Rupert held second place with $14 billion, followed by Egypt’s Nassef Sawiris at $9.6 billion.
This year’s list features 22 billionaires from eight countries, up from 20 last year. Nigeria, South Africa, and Egypt led the rankings, with four billionaires each. However, not all fortunes climbed—Zimbabwe’s Strive Masiyiwa saw his net worth drop by a third to $1.2 billion due to currency volatility.
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