The figure represents a 21 percent increase from 2025, reflecting a surge in stock markets across Africa and improved currency stability.
Together, the continent’s three comma club added about $20.3 billion to their fortunes, marking the first time their combined wealth has exceeded $100 billion. The gains were largely driven by strong performances in equities, particularly in Nigeria and South Africa.
Nigeria’s industrialist Aliko Dangote retained his position as Africa’s richest person, with an estimated net worth of $28.5 billion. His fortune rose by about $4.6 billion over the past year as shares of Dangote Cement climbed nearly 69 percent.
The cement giant also reported record profits of about ₦1 trillion in 2025, roughly $625 million at current exchange rates.
Dangote, who is preparing to list his massive refinery business, recently announced a $400 million agreement with a Chinese machinery firm aimed at doubling the facility’s capacity by 2029.
The largest increase in wealth in the ranking came from Nigerian billionaire Abdulsamad Rabiu. His net worth surged by 120 percent, adding about $6.1 billion to reach $11.2 billion. The jump propelled him to third place on the continent’s rich list, just behind South African luxury magnate Johann Rupert.
The surge was largely fuelled by the strong performance of BUA Cement, Rabiu’s flagship company, whose shares climbed by roughly 135 percent. The rise outpaced Nigeria’s booming stock market, which has rallied sharply over the past year.
Another major gainer was Michiel Le Roux, founder of Capitec Bank. His fortune rose to about $3.8 billion after shares of the South Africa-listed lender jumped 57 percent, outperforming the Johannesburg exchange as global gold and platinum prices climbed.
Meanwhile, Egyptian investor Nassef Sawiris was the only billionaire on the list whose wealth remained largely unchanged at $9.6 billion. Sawiris holds a stake in English Premier League club Aston Villa and owns about 6 percent of sportswear giant Adidas, where he is expected to become chairman later this year.
Femi Otedola tied as Africa’s lowest-ranked billionaire after wealth dip
Despite the overall boom, only four billionaires recorded declines in wealth as Moroccan property developer Anas Sefrioui lost about $300 million after shares of his company, Group Addoha, fell more than 30 percent.
He now shares the lowest position on the billionaire ranking with Nigerian businessman Femi Otedola. Otedola’s net worth fell by roughly $200 million to about $1.3 billion after he sold the majority of his stake in Geregu Power at a discount to the company’s market price.
Forbes noted that 14 of the 23 billionaires on the list are self-made, meaning they built their fortunes rather than inheriting them.
The ranking also highlights a notable demographic gap; there are currently no female billionaires in Africa, and nearly all are older than 60, except Tanzania’s Mohammed Dewji, who is 50.
South Africa leads the continent with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three, underscoring the continued concentration of extreme wealth in a handful of African economies.
