The story of African billionaires not only emphasizes their enormous wealth, but also reveals just how relevant they are to the growth of the African economy. Through shrewd investments, generous giving, and inventiveness, African billionaires significantly contribute to social welfare, economic growth, and job creation. This denotes that their efforts are not only to enrich themselves but to also impact the communities around them.
One of the key ways African billionaires contribute to the continent’s economy is through large investments in a variety of industries.
For example, Aliko Dangote, Africa’s richest man, has made major investments in sectors like cement, sugar, salt, and now energy, resulting in increased industrial growth and infrastructural development.
For 2024 thus far this has been no different, African billionaires continue to make major contributions to the continent’s economy and by extension, increase or maintain their monetary value.
Like the previous list, this list is courtesy of the Forbes Daily billionaires ranking, which tracks daily changes to the net worth of the most high-net-worth individuals across the globe.
The figures below represent the net worth of the entrants as of the 3rd of June, 2024.
One major difference difference from the start of the year till now is the drop of Algeria’s Issad Rebrab & Family, who went from $4.6 billion to $2.5. They has been replaced by South Africa’s Patrice Motsepe in the current top 10 list.
Top 10 richest people in Africa mid-way into 2024
| Rank | Name | Current net worth | Net worth at the start of the year | Country |
|---|---|---|---|---|
|
1. |
Aliko Dangote |
$13.4 billion |
$9.5 billion |
Nigeria |
|
2. |
Johann Rupert & Family |
$12.2 billion |
$10.3 billion |
South Africa |
|
3, |
Nicky Oppenheimer & Family |
$9.5 billion |
$8.3 billion |
South Africa |
|
4. |
Nassef Sawiris |
$8.8 billion |
$7.4 billion |
Egypt |
|
5. |
Nathan Kirsh |
$7.2 billion |
$5.8 billion |
Eswatini (Swaziland) |
|
6. |
Mike Adenuga |
$6.7 billion |
$3.1 billion |
Nigeria |
|
7. |
Abdulsamad Rabiu |
$5.2 billion |
$5.9 billion |
Nigeria |
|
8. |
Naguib Sawiris |
$3.8 billion |
$3.3 billion |
Egypt |
|
9. |
Mohamed Mansour |
$3.3 billion |
$3.6 billion |
Egypt |
|
10. |
Patrice Motsepe |
$2.7 billion |
$2.7 billion |
South Africa |
