Africa's Richest People in 2024
The richest person in Africa is Aliko Dangote, founder of Dangote Group, with a net worth of $13.5 billion as of the latest Forbes real-time billionaires list. He controls Africa's largest cement producer and has major stakes in sugar, salt, and flour. His wealth is tied to Dangote Cement, which trades on the Nigerian Stock Exchange and operates across sub-Saharan Africa Forbes profile.
Second on the list is Nicky Oppenheimer, whose fortune comes from family control of De Beers and extensive private equity holdings in South Africa. His net worth is estimated at $8.5 billion, making him the second richest African on the current Forbes ranking Forbes profile. The Oppenheimer family has controlled De Beers for over a century, and the dynasty's wealth is diversified across mining, agriculture, and financial services.
Top 10 African Billionaires by Net Worth
Rankings and Sources of Wealth
The top 10 richest persons in Africa include Mohammed Dewji of Tanzania, whose net worth is around $1.5 billion from his stake in MeTL Group, a diversified conglomerate operating in manufacturing, agriculture, and real estate. Dewji was previously the youngest African billionaire and remains one of the continent's most prominent industrialists Forbes profile.
Other notable entries include the Koos Bekker family, whose wealth stems from Naspers and its early investment in Tencent, placing them among the top 10 with a net worth above $2.5 billion. Naspers is a global internet and media conglomerate headquartered in Cape Town, and its stake in Tencent remains the largest single contributor to the family's fortune Naspers official site.
New Entrants and Movers
Robert Ng'eno and other new entrants have appeared on the latest Forbes Africa rich list due to investments in banking, insurance, and technology across East Africa. Their inclusion reflects the growing diversification of African wealth beyond traditional mining and commodities.
Several billionaires on the list have seen their net worth fluctuate with currency movements and commodity prices. For example, platinum and gold price swings directly affect the rankings of South African mining billionaires, while exchange rates between the US dollar and local African currencies impact reported figures.
How These Billionaires Built Their Empires
Common Industries and Business Models
The majority of the top 10 richest persons in Africa built their wealth in commodities, cement, banking, and mining. Dangote Cement alone accounts for a large share of Aliko Dangote's net worth, with plants in Nigeria, Senegal, Ethiopia, and Zambia. The company supplies the majority of cement in sub-Saharan Africa and has expanded through both organic growth and acquisitions Dangote Group official site.
Technology and media investments have also become a major source of wealth, as seen with the Naspers family's exposure to Tencent. This shift toward digital and consumer sectors shows how African billionaires are diversifying beyond traditional extractive industries into high-growth global markets.
Philanthropy and Public Profiles
Several of the top 10 billionaires are known for major philanthropy and public infrastructure projects. Dangote has funded hospitals, roads, and disaster relief across Nigeria, while other African billionaires have established foundations focused on education, health, and agricultural development.