The 10 richest people in Africa in 2022
Despite the global pandemic, Africa’s billionaires saw a significant increase in their net worth in 2021.
Despite the long-term effects of the Covid-19 pandemic on business activities and the operations of companies and financial assets controlled by these ultra-wealthy individuals during the year, Africa’s billionaires saw their fortunes grow significantly in 2021, as they did the previous year.
According to Forbes, 18 of these individuals had a net worth of $84.9 billion at the end of 2021, a 15% increase, or $4.7 billion, from their combined net worth of $73.8 billion at the end of 2020.
Billionaires such as Aliko Dangote and Abdul Samad Rabiu have seen their fortunes rise by more than $1 billion since the start of the year, while Natie Kirsh, Johann Rupert, and Mohammed Al Amoudi have seen their fortunes fall by more than $200 million.
The 10 richest people in Africa in 2022, This is where they are right now:
#1 Aliko Dangote
$20.4 billion in net worth
For the eleventh year in a row, Nigerian billionaire Aliko Dangote has been named the continent’s wealthiest person, with a net worth of $20.4 billion derived from his stake in Dangote Cement Plc, Africa’s largest cement manufacturer.
So far in 2021, the billionaire’s net worth has increased by more than $1.3 billion as a result of an increase in the share price of his flagship company, Dangote Cement Plc, as investors react to news of the leading cement maker’s planned share buy back program.
#2 Johann Rupert
$11.4 billion in net worth
South African nationality
WJohann Rupert, South Africa’s richest man, is the continent’s second-richest man, with a net worth of $11.4 billion. In 2021, the billionaire’s wealth increased by $3.88 billion as shares in his luxury goods holding company, Richemont, increased by more than 60%.
Since the beginning of the year, his net worth has dropped by $565 million as investors profit from Richemont shares.
#3 Nicky Oppenheimer
$8.18 billion in net worth
South African Nationality
Nicky Oppenheimer, who previously ran diamond mining firm DeBeers before selling it to mining firm Anglo-American a decade ago, has an estimated net worth of $8.18 billion, ranking him third in Africa and second in South Africa.
The majority of his fortune is invested in private equity in Africa, Asia, the United States, and Europe through Stockdale Street in London and Tana Africa Capital in Johannesburg.
Because of the revaluation of his private equity investments, his net worth has increased by $225 million since the beginning of the year.
#4 Natie Kirsh
Net worth: $7.68 billion
Swaziland’s Nathan “Natie” Kirsh is the fourth-richest man in Africa, with a fortune of $7.68 billion at the time of writing. Kirsh made his fortune through his ownership of Kirsh Group, a closely held conglomerate that owns a majority stake in Jetro Holdings, a food supply company.
Kirsh’s net worth has fallen by more than $595 million, or 7.2 percent, so far in 2021 as a result of a drop in the valuation of his private equity investments.
The 10 richest people in Africa in 2022
#5 Abdul Samad Rabiu
Net worth: $7.5 billion
Abdul Samad Rabiu, the founder of one of Africa’s fastest growing manufacturing conglomerates, BUA Group, is the fifth-richest man in Africa and the second-richest man in Nigeria, with a net worth of $7.5 billion.
The majority of the billionaire’s fortune stems from his 97 percent stake in his cement company, BUA Cement Plc, while the recent increase in his net worth to $7.5 billion was fueled by the recent listing of his consolidated food business, BUA Foods.
#6 Mike Adenuga
Net worth: $6.7 billion
Mike Adenuga, the founder of Nigerian telecom company Globacom Limited and majority owner of Nigeria’s pioneer petroleum marketer, Conoil Plc, is Nigeria’s third richest man and Africa’s sixth richest man.
His fortune was valued at $6.7 billion as of press time on January 25, thanks to the valuation of his stake in Globacom Limited, Nigeria’s third-largest telecom service provider.
#7 Mohammed Al Amoudi
Net worth: $6.45 billion
With a net worth of $6.45 billion, Mohammed Al Amoudi is the richest man in Ethiopia and the seventh-richest man in Africa.
The majority of the Ethiopian billionaire’s wealth comes from his industrial assets in Sweden, Saudi Arabia, Ethiopia, and Morocco, as well as his stake in Svenska Petroleum Exploration, Sweden’s largest oil refiner, as well as a 67 percent stake in Morocco’s sole oil refiner, Samir.
#8 Nassef Sawiris
Net worth: $6.29 billion
Egypt’s wealthiest man and a descendant of Egypt’s wealthiest family At the time of writing, Nassef Sawiris was the eighth-richest man in Africa, with a fortune of $6.29 billion.
The majority of Sawiris’ $6.29 billion fortune is derived from his ownership of Dutch fertilizer producer OCI N.V. and his 3.72 percent stake in German sportswear manufacturer Adidas.
#9 Issad Rebrab
Net worth: $5.1 billion
With a fortune of $5.1 billion derived from his business interest in Cevital Group, Issad Rebrab, the founder and CEO of Cevital and Algeria’s richest man, is the ninth-richest man in Africa.
Cevital Group is Algeria’s largest privately held company, and it owns one of the world’s largest sugar refineries, with a capacity of 2 million tonnes of refined sugar per year.
#10 Naguib Sawiris
Net worth: $3.4 billion
Naguib Sawiris, the elder brother of Egypt’s richest man, Nassef Sawiris, is the second-richest man in Egypt and the tenth-richest man in Africa, with a fortune of $3.4 billion.
After selling Orascom Telecom to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction in 2011, the billionaire amassed his fortune. He is a shareholder in Orascom TMT Investments and Ora Developers, a real estate development company.
Some Net Worth Updates