Full List: Dangote Leads as Africa’s Billionaires Add $20bn to Fortunes

Africa’s billionaires have seen their wealth surge, with the continent’s 23-member “three-comma club” now worth a combined $126.7 billion, up 21% from 2025.

Collectively, they added $20.3 billion over the past year, driven by rising equity markets and stabilising regional currencies.

This is according to the latest Africa Billionaires ranking released by Forbes on Monday.

The latest list shows Nigeria’s continued presence, with four of its businessmen—Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola—named among the continent’s wealthiest business leaders.

Dangote remains the richest African, with an estimated net worth of $28.5 billion, up $4.6 billion this year.

Dangote Cement’s shares have jumped nearly 69% since last March, after the company doubled its profits in 2025 to a record one trillion naira.

Dangote recently announced a $400 million deal with a Chinese machinery company to accelerate plans to double the refinery’s full capacity by 2029.

The biggest gainer was Rabiu, whose fortune rose 120%—$6.1 billion—to $11.2 billion.

Rabiu is now Africa’s third-richest billionaire, up from sixth last year, trailing South African luxury goods tycoon Johann Rupert ($16.1 billion).

Shares of Rabiu’s BUA Cement rose 135%, outperforming the Nigerian Stock Exchange’s 81% gain.

South African billionaire Michiel Le Roux, founder of Capitec Bank, also saw significant gains as shares of the Johannesburg-listed financial institution rose 57%, surpassing the 45% rise of the local exchange. Related News

The only billionaire who broke even this year is Nassef Sawiris of Egypt, valued at $9.6 billion.

He owns stakes in English Premier League club Aston Villa and sportswear giant Adidas, where he is set to become chairman in May.

Four African billionaires lost wealth over the past year.

Morocco’s Anas Sefrioui lost $300 million after shares of Group Addoha fell more than 30%, while Nigeria’s Femi Otedola dropped $200 million but still returned to the list after selling most of his stake in Geregu Power. Both are now worth $1.3 billion.

On the collective growth, Forbes noted, “The members of the continent’s three-comma club—which surpassed $100 billion in combined wealth for the first time last year—are richer than ever, having added a collective $20.3 billion to their combined fortunes as major equity markets across the continent rally and regional currencies stabilise. In all, these 23 dealmakers and moguls are worth $126.7 billion, up 21% from 2025.”

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Of the 23 billionaires, 14 (61%) are self-made, with no women on the list.

All except Tanzania’s Mohammed Dewji (50) are over 60. South Africa leads the continent with seven billionaires, followed by Egypt (five), Nigeria (four) and Morocco (three).

Below are the wealthiest people in Africa and their net worth.

Africa’s Billionaires 2026

Forbes tracks African billionaires who reside in Africa or conduct their primary business there, excluding several high-profile figures such as Mo Ibrahim, Ivan Glasenberg, Clive Calder and Elon Musk, who operate primarily outside the continent.

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Net worths were calculated using stock prices and currency exchange rates as of March 1, 2026, compared with Forbes’ 2025 Billionaires list.

Privately held businesses were valued using revenue and profit estimates with comparable public company ratios.