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Dangote’s wealth increases by 72% to $23.9 billion, tops list of Africa’s 22 richest individuals.

Simon Osuji by Simon Osuji
March 30, 2025
in Business
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Dangote’s wealth increases by 72% to $23.9 billion, tops list of Africa’s 22 richest individuals.
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Aliko Dangote, known for his vast empire in petroleum, cement, sugar, and other industries, continues to amass significant wealth, solidifying his position as a key player in Africa’s economic development.

Dangote’s fortune remains a testament to the success of strategic investments and industrial expansion.

According to the Forbes 2025 African billionaire ranking, which profiles 22 billionaires from the continent, their combined fortunes rose to a total of $105 billion, up from $82.4 billion and 20 billionaires last year.

The 2025 list highlights Africa’s shifting wealth landscape, with South Africa leading the pack with seven billionaires, while Nigeria and Egypt each boast four. Morocco follows closely with three billionaires, and Tanzania, Algeria, and Zimbabwe each have one.

Notably, Nigeria’s Aliko Dangote retained his position as Africa’s richest person for the 14th consecutive year, with his net worth rising to an estimated $23.9 billion from $13.9 billion last year.

Dangote's $20 billion refinery has played a significant role in his wealth surge.

The significant increase in his wealth is largely attributed to Forbes factoring in the value of his refinery, which began operations last year on the outskirts of Lagos, following prolonged delays.

According to the Forbes African Billionaire Ranking for 2025, the table below presents the latest list of Africa’s wealthiest individuals along with their net worth.

Rank Name Net Worth Country Industry

1

Aliko Dangote

$23.9 B

Nigeria

Manufacturing

2

Johann Rupert & family

$14 B

South Africa

Fashion & Retail

3

Nicky Oppenheimer & family

$10.4 B

South Africa

Metals & Mining

4

Nassef Sawiris

$9.6 B

Egypt

Construction & Engineering

5

Mike Adenuga

$6.8 B

Nigeria

Diversified

6

Abdulsamad Rabiu

$5.1 B

Nigeria

Diversified

7

Naguib Sawiris

$5 B

Egypt

Telecom

8

Koos Bekker

$3.4 B

South Africa

Media & Entertainment

8

Mohamed Mansour

$3.4 B

Egypt

Diversified

10

Patrice Motsepe

$3 B

South Africa

Metals & Mining

10

Issad Rebrab & family

$3 B

Algeria

Food & Beverage

12

Mohammed Dewji

$2.2 B

Tanzania

Diversified

12

Michiel Le Roux

$2.2 B

South Africa

Finance & Investments

14

Othman Benjelloun & family

$1.6 B

Morocco

Finance & Investments

14

Anas Sefrioui & family

$1.6 B

Morocco

Real Estate

16

Aziz Akhannouch & family

$1.5 B

Morocco

Diversified

16

Jannie Mouton & family

$1.5 B

South Africa

Finance & Investments

16

Femi Otedola

$1.5 B

Nigeria

Energy

16

Christoffel Wiese

$1.5 B

South Africa

Fashion & Retail

20

Youssef Mansour

$1.4 B

Egypt

Diversified

21

Yasseen Mansour

$1.2 B

Egypt

Diversified

21

Strive Masiyiwa

$1.2 B

Zimbabwe

Telecom

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The winners and losers of 2025

Aliko Dangote’s net worth surged to $23.9 billion, up from $13.9 billion, largely due to the success of his Dangote Refinery.

Johann Rupert also experienced significant growth, with his wealth rising 39% to $14 billion, driven by his luxury goods empire.

Femi Otedola’s net worth increased by over 30% to $1.5 billion, fueled by the strong performance of shares in Geregu Power Plc.

However, not all African billionaires enjoyed financial gains in 2025.

Abdulsamad Rabiu, despite his earlier growth, later saw his net worth decline to $5.1 billion, largely due to the devaluation of the Nigerian naira.

Zimbabwe’s Strive Masiyiwa also faced a sharp drop in wealth, with his fortune shrinking by 33% to $1.2 billion.

This decline followed Zimbabwe’s decision to scrap its local currency and introduce the gold-backed ZiG, which created uncertainty in the country’s business environment.

Two African billionaires, Anas Sefrioui and Jannie Mouton, have returned to the Forbes list after previously falling off.

Sefrioui’s return is due to a surge in shares of his real estate firm Douja Promotion Groupe Addoha, while Mouton’s return follows a 59% jump in the share price of Capitec Bank Holdings.

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