Top 10 Richest Men In Africa (2023)

The richest men in Africa are more than they’ve been for eight years. Collectively, the 18 billionaires on the continent are worth $84.9 billion, which is the most significant total since 2014 which saw the number of African billionaires.

Aliko Dangote is the richest man in Africa and he has held the title consecutively eleven times. The median net worth of the African billionaires is greater this year because of the lower number of members on the list. The soaring prices of stocks across Nigeria to Zimbabwe have helped boost the wealth of the businessmen as demand for items that ranged from cement to high-end items increased.

Top 10 richest men in Africa

Seven billionaires of seven African countries have been named as the richest men in Africa. South Africa and Egypt have the highest number, each with five billionaires and followed by Nigeria with three billionaires.

1. Aliko Dangote

Aliko Dangote, GCON was born on the 10th of April, 1957. He is a Nigerian billionaire and businessman. Dangote is the chairman, founder, and CEO of the Dangote Group.

The Dangote Group is a Nigerian multinational industrial conglomerate. It is the biggest company located in West Africa. Dangote is the richest man in Africa with an estimated net worth of $14 billion.

2. Johann Rupert

Johann Peter Rupert was born on the 1st of June 1950. He is a South African entrepreneur, who is the oldest son of business billionaire Anton Rupert. He is the director of Switzerland-based luxury goods company Richemont and also the South African-based company Remgro.

On April 1st, 2010, he took over the role of CEO of Compagnie Financiere Richemont. The Rupert family was named the second richest family in South Africa on the 2021 Forbes list which reported their wealth as being around $11 billion.

3. Nicky Oppenheimer

Nicholas F. Oppenheimer was born on the 8th of June 1945. He is a South African billionaire and businessman. He was previously chairman of the De Beers diamond mining company as well as its subsidiary named The Diamond Trading Company and the vice-chairperson of Anglo American. He is the third richest man in Africa with an estimated net worth of $8.7 billion.

Oppenheimer is the child of Bridget (nee McCall) and Harry Oppenheimer, and the grandson of Anglo-American founder Ernest Oppenheimer (the first generation to sit on the De Beers since 1929). Oppenheimer’s father is of German Jewish descent. He attended Harrow School and Christ Church, Oxford, where he was a student of Philosophy as well as Economics, Politics, and Economics while earning the Oxford MA.

4. Nassef Sawiris

Nassef Onsi Sawiris was born on the 19th of January 1961. He is an Egyptian billionaire & businessman who is the youngest among Onsi Sawiris’ three sons. In October 2021 Onsi Sawiris’ net worth stood to be $7.9 billion which makes him the most wealthy Arab and one of the richest men in Africa.

Nassef Sawiris completed his secondary education at the Deutsche Evangelische Oberschule Kairo. Then he attended the University of Chicago where he obtained a bachelor’s from the department of economics, in 1982. Sawiris is a Coptic Christian.

5. Abdulsamad Rabiu

Abdul Samad Isyaku RAJU CON was born on the 4th of August, 1960, in Kano, Nigeria. He is a Nigerian billionaire, businessman, and philanthropist. His dad, Khalifah Isyaku Rabiu, was among Nigeria’s most prominent industrialists of the 1970s and the 1980s. Abdulsamad is the founder and chairman of BUA Group, a Nigerian company that is focused on infrastructure, manufacturing, and agriculture. 

Abdul Samad Rabiu was a student at Capital University in Columbus, Ohio. He returned to Nigeria when he was 24 to manage the family’s business. It was during this time that His father Isyaku Rabiu was being detained by General Muhammadu Buhari for allegedly not paying the import duty on rice. He has an estimated net worth of $7 billion.

6. Mike Adenuga

Chief Michael Adeniyi Agbolade Ishola Adenuga Jr CSG GCON was born on the 29th of April 1953. He is a Nigerian billionaire and businessman. Globacom, his company is Nigeria’s second-largest telecommunications operator that has an active presence within Ghana as well as Benin. He holds stakes in Equatorial Trust Bank and the oil exploration company Conoil formerly Consolidated Oil Company.

His father, Oloye Michael Agbolade Adenuga Sr was a school teacher and his mother Omoba Juliana Oyindamola Adenuga (nee Onashile) was a businesswoman of royal descent. He was a taxi driver to finance his education at the university. He graduated from Northwestern Oklahoma State University and Pace University, New York where he has earned degrees in Business Administration. His net worth of $6.8 billion makes him one of the richest men in Africa.

7. Issad Rebrab

Issad Rebrab was born in 1944. He is an Algerian billionaire, businessman, and chief executive officer for the Cevital Industrial Group, which is the largest private enterprise in Algeria that is involved in food, steel Agribusiness, electronics, and steel. In the year 2019, he received a sentence of six years in prison for customs, tax, and banking violations.

After graduating from a prestigious institution, Rebrab taught accounting and commercial law. He then quit teaching and set up his own accounting business. He has an estimated net worth of $5.1 billion.

8. Naguib Sawiris

Born on the 15th of June 1954 in Cairo, Egypt, to businessman Onsi Sawiris and Yousriya Loza Sawiris, Naguib Sawiris is the oldest among three brothers. His brothers Nassef and Samih are also billionaires. Naguib earned a diploma in Giza’s German Evangelical School in addition to the Diploma of Mechanical Engineering and a Master’s Degree of technical Administration at ETH Zurich. He has an estimated net worth of $3.4 billion.

9. Patrice Motsepe

Patrice Tlhopane Motsepe was born on the 28th of January 1962. He is a South African mining billionaire and businessman. Since March 12, 2021, Motsepe has been the president of the Confederation of African Football. He is the executive chairman and founder of African Rainbow Minerals, which holds interests in ferrous metals, gold base metals, ferrous metals, and platinum. He is a member of several company boards, an executive chairman and non-executive director of Harmony Gold, the world’s 12th largest gold mining corporation and the vice-chairperson of Sanlam. Motsepe has an estimated wealth of $3.1 billion making him one of the richest men in Africa.

10. Koos Bekker

Jacobus Petrus Koos Bekker was born on the 14th of December 1952. He is a South African billionaire, businessman, and chairman of the Naspers, a media company. Naspers functions in over 130 different countries, and it is registered both on the London Stock Exchange and Johannesburg Stock Exchange. The company has the biggest amount of capitalization in the media market outside of the US, China, and India. In April 2022, the company’s net worth stood to be $2.7 billion.

He was a student at Hoer Volkskool Heidelberg. He bagged bachelor’s degrees in law and literature from Stellenbosch University. He bagged another bachelor’s degree in law from Wits University. He has also obtained an MBA at Columbia Business School, New York, and an honorary doctorate from Stellenbosch University. Bekker has an estimated net worth of about $2.2 billion.