Africa’s richest people saw their combined wealth reach a record \$105 billion in 2025, up from \$82.4 billion last year, according to the latest Forbes Africa Billionaires report. This growth comes despite ongoing challenges like political unrest and currency problems in parts of the continent.
Nigeria’s Aliko Dangote remains Africa’s richest man for the 14th year running, with his net worth rising to \$23.9 billion. Much of this increase is linked to Forbes’ new valuation of his long-delayed Lagos oil refinery, which is nearing full production and has allowed Nigeria to export refined oil products. Globally, Dangote ranks 71st on Bloomberg’s billionaire list.
South Africa hosts the most billionaires in Africa with seven, followed by Nigeria and Egypt, each with four. Morocco has three, while Algeria, Tanzania, and Zimbabwe each have one billionaire.
South Africa’s Johann Rupert stays the continent’s second richest with a 39% increase in wealth to \$14 billion. Nigerian businessman Femi Otedola also recorded strong gains, rising over 30% to \$1.5 billion, helped by the rise in Geregu Power shares.
Two billionaires returned to the list this year: Morocco’s property tycoon Anas Sefrioui and South African investor Jannie Mouton, thanks to rebounds in their main business holdings.
On the downside, Zimbabwean telecoms billionaire Strive Masiyiwa saw his fortune fall by about a third to \$1.2 billion, hurt by currency issues in his home country.
The rising fortunes of Africa’s billionaires highlight the growing economic opportunities on the continent, even as some nations continue to face serious political and financial challenges.
