The annual ranking, published on Saturday, reveals that Africa now boasts 22 billionaires, with their collective wealth soaring to $105 billion—up from $82.4 billion in 2024. This surge has been attributed to rising market valuations and economic gains.

At the helm of the list is Aliko Dangote, owner of Dangote Petroleum Refinery, with a staggering net worth of $23.9 billion, a sharp increase from $13.9 billion last year. Forbes credited this jump to the refinery’s valuation, which was factored into his wealth for the first time.

Following Dangote is Mike Adenuga, chairman of Globacom, ranked fifth in Africa with a net worth of $6.8 billion. Abdulsamad Rabiu, chairman of BUA Group, secured the sixth position with $5.1 billion.

Femi Otedola, chairman of First Bank of Nigeria (FBN) Holdings Plc, shares the 16th spot, with a net worth of $1.5 billion.

Top Richest Africans on Forbes 2025 List

- Aliko Dangote (Nigeria) – $23.9 billion (Dangote Petroleum Refinery)

- Johann Rupert (South Africa) – $11.1 billion (Luxury goods, Richemont)

- Nicky Oppenheimer (South Africa) – $9.4 billion (Diamonds, De Beers)