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Dangote leads as Forbes unveils Africa’s 10 wealthiest people in 2024

Nigerian industrialist Aliko Dangote has continued to hold the crown as Africa’s wealthiest individual with a net worth of $13.4 billion, ranking 144th globally on the Forbes list...READ THE FULL STORY HERE▶

Dangote’s wealth comes primarily from his conglomerate, the Dangote Industries, comprising cement manufacturing, food, and others.

Dangote leads Africa’s wealthiest people According to information from Forbes, the Nigerian billionaire derives his wealth from his 86% stake in Dangote Cement, Africa’s largest cement manufacturer, with over N10 trillion market capitalisation. The cement company is the only Nigerian firm to have achieved this feat.

Forbes said it compiled its list of billionaires using the prevailing stock market prices and exchange rates as of March 8, 2024.

Forbes reportedly discovered 2,781 billionaires globally for the year’s ranking. The list has 141 billionaires, more than the 2023 figure and 26 higher than the 2021 record.

The report said the over 2,000 billionaires have a combined wealth of $14.2 trillion, about $2 trillion higher than the one recorded in 2023 and $1.1 trillion more than recorded in 2021.

Top 10 Billionaires in Africa

Africa has recorded significant activity in raising new billionaires, with some rising in rank and others falling off the rack. The continent also welcomed new billionaires in 2024.

Reports say at the beginning of 2024, Johann Rupert and Family became Africa’s wealthiest with a net worth of $10.3 billion, while Nigeria’s richest man, Dangote, trailed behind with a net worth of $9.5 billion.

After a few weeks, Dangote toppled Rupert with a staggering wealth of $13.4 billion, while Rupert held a fortune worth $12.2 billion.

Nicky Oppenheimer & Family has a net worth of $9.5 billion from their investment in South Africa’s diamond sector, ranking 249th on the list.

Adenuga and Rabiu make Forbes’ list

Egypt’s Nassef Sawiris ranks 287th with $8.8 billion, while Nathan Kirsh from Eswatini ranks 373 globally with a net worth of $2.72 billion.

Nigeria’s oil and telecom magnate, Mike Adenuga, ranks 409th with $6.7 billion.

Another Nigerian billionaire, Abdulsamad Rabiu, follows Adenuga, ranking 581st globally with a net worth of $5.2 billion.

Egypt’s Naguib Sawiris is ranked 835th with a net worth of $3.8 billion, and Mohamed Mansour has a combined wealth of $3.3 billion and is ranked 991st in the world.

Koos Bekker made a remarkable entry among Africa’s top 10 richest with a combined wealth of $2.6 billion and is ranked 1,256th globally.

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Baba Voss

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