In the 2023 financial year, the economic fortunes of Africa’s wealthiest people witnessed a rebound, following a decline in their fortunes back in 2022.

According to Forbes Magazine, some 20 billionaires were captured on the 2024 edition of Forbes Africa’s Richest list.

In all, they are said to be worth a combined $82.4 billion – a surge of $900 million from the previous year’s $81.5 billion figure.

Leading the pack in first place for the 13th year in a row is Nigeria industrialist, Aliko Dangote, whose net worth rose by $400 million to $13.9 billion despite election related turbulence in Nigeria and the devaluation of the Nigerian naira in February 2023.

In second position is South African luxury goods magnate, Johann Rupert, whose net worth was pegged at $10.1 billion, down from $10.7 billion in 2023 as shares of his Compagnie Financiere Richemont – maker of Cartier watches and Montblanc pens – dropped during the period.

Another South African, Nicky Oppenheimer, who used to own diamond mining firm DeBeers, saw his fortune rise to $9.4 billion – up by $1 billion from 2023.

Oppenheimer has since sold DeBeers to Anglo American, a mining firm.

Overall, the Forbes Africa Billionaires list witnessed some thirteen (13) billionaires who added substantial gains to their respective fortunes despite recording some declines in their net worths.

Meanwhile, Nigerian businessman, Femi Otedola re-surged on the list after appearing back from 2017 on Forbes Africa's richest list.

Otedola who has now made diverse investments, used his controlling stake in Forte Oil to purchase Geregu Power, which focuses on providing plants for power generation.

Among other key investments made by him, Forbes placed Otedola in the 20th position after his net worth increased to $1.1 billion.

See the full list released by Forbes below:

1. Aliko Dangote – $13.9 billion
2. Johann Rupert & family – $10.1 billion
3. Nicky Oppenheimer & family – $9.4 billion
4. Nassef Sawiris – $8.7 billion
5. Mike Adenuga – $6.9 billion
6. Abdulsamad Rabiu – $5.9 billion
7. Naguib Sawiris -$3.8 billion
8. Mohammed Mansour – $3.2 billion
9. Roos Bekker – $2.7 billion
10. Patrice Motsepe – $2.7 billion
11. Issad Rebrab & family – $2.5 billion
12. Mohammed Dewji – $1.8 billion
13. Strive Masiyiwa – $1.8 billion
14. Aziz Akhannouch & family – $1.7 billion
15. Othman Benjelloun & family – $1.4 billion
16. Youseff Mansour – $1.3 billion
17. Yassen Mansour – $1.2 billion
18. Christoffel Wiese – $1.2 billion
19. Michiel Le Roux – $1.1 billion
20. Femi Otedola – $1.1 billion

MA/AE

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