Just like every other continent, the Bloomberg billionaire index has ranked some African with billion-dollar net worth.
Most of them got to the list as self-made, through family business success, or a descendant from a wealthy generation.
Africans sitting on Forbe’s list are undoubtedly wealthier than they were a year ago. Here’s the ranking for Africa’s richest billionaires by their net worths, in ascending order.
1. Aliko Dangote
Aliko Dangote, the most prosperous African in nine years, is a Nigerian business mogul, industrialist, founder, and CEO of Dangote Group industrial conglomerate.
What made Dangote the richest in Africa
Aliko Dangote is the richest because he started his entrepreneurial business at a young age by selling valuables like salt, sugar, flour, and cement.
Being the richest person in Africa, Aliko Dangote has a net worth of 11.5 billion US dollars.
2. Nassef Sawiris
The second richest person in Africa, Nassef Sawiris, is an Egyptian investor, owner of the national basketball association [NBA] Knicks, and a descendant of Egypt’s wealthiest family.
How did Sawiris become the second richest in Africa?
Nassef Sawiris fortune is from the biggest construction company in Egypt, which he runs known as Orascom construction.
He has a 6% share in Adidas sportswear and a 5% share in Madison Square Garden sports.
Nassef Sawiris’s business crowned him the second richest African with a net worth of 8.3 billion US dollars.
3. Nicholas F. Oppenheimer
Nicholas F. Oppenheimer is the third richest man in Africa and a South African businessman, one-time the chairperson for De Beers diamond mining company, and former deputy chairman of Anglo American.
Why Nicky F. Oppenheimer is the third richest in Africa
According to a Bloomberg billionaire’s survey, Nicky Oppenheimer and his family have a combined wealth they largely got from the 2012 sale of their share in De Beers.
Nicky F. Oppenheimer’s net worth
The net worth of Nicky Oppenheimer and his family is 8 billion US dollars.
4. Johann Peter Rupert
Nicky Oppenheimer is the fourth richest in Africa, a South African entrepreneur, and Anton Rupert’s eldest son (his father owns the Swiss luxury group Richemont).
Why Johann Rupert is the fourth richest African
Almost all the fortune of Johann Rupert and family came from its shares in Richemont, a luxury jewelry maker, and then a minor part of the fortune from tobacco stake from Rembrandt.
The total net worth of Johann and his family is 7.1 billion US dollars.
5. Mike Adenuga
Mike Adenuga is a Nigerian businessman, founder of Globacom, chairman of Conoil, and the fifth richest person in Africa.
Source of income
Adenuga, the Nigerian second richest man and Africa’s fifth-richest, operates six oil blocks in the Niger Delta, Conoil producing. He has his wealth built-in telecom and oil production.
Mike Adenuga has a net worth of 6.1 billion US dollars.
6. Abdul Samad Rabiu
Abdul Samad Rabiu is a Nigerian businessman, philanthropist, and founder of BUA Group, a Nigerian organization that combines manufacturing, infrastructure, and agriculture.
Source of wealth
The billionaire businessman makes his money from the manufacturing and agricultural industry, and he is also the chairman of the Nigerian Bank of Industry.
The net worth of the Nigerian conglomerate businessman is 4.9 billion US dollars.
7. Issad Rebrad
Issad Rebrab and his family are seventh on the list of richest Africans. He’s an Algerian businessman, founder of Cevital industrial Group, the biggest Algeria private company.
Means of wealth
The Issad Rebrab and family source of wealth is his sugar refinery, one of the largest in the world, and his ownership in companies like French home appliances and a German water purification company.
Issad Rebrab, active in steel, food, agricultural business, and electronics, has raised his net worth to 4.8 billion US dollars.
8. Nathan Kirsh
The eighth richest in Africa is Nathan Kirsh, a businessman from Eswatini, South Africa. He’s the CEO of Kirsh Group, and owner of Jetro Cash &Carry Enterprise Inc.
Source of Wealth
The source of Nathan’s bulk fortune is from his Jetro Holdings and a wholesale grocery operation that stocks various items.
Nathan Kirsh’s private company with two units amounts to a net worth of 4.7 billion US dollars.
9. Naguib Sawiris
Naguib Sawiris is an Egyptian billionaire, the chairman of Orascom TMT investment, owner of the television network Euronews, and a Silversands luxury resort developer in Grenada.
Means of wealth
Naguib, who is also a brother to Nassef Sawiris, built his fortune in telecom. He has shares in an Italian Internet Company and the family stakes in Evolution Mining, among others.
The net worth of Naguib Sawiris is approximately 3.2 billion US dollars.
10. Koos Bekker
Jacobus Petrus Koos Bekker is a South African businessman, former CEO of Naspers, and currently the chairman of media group Naspers.
Means of wealth
He has a company operating in more than 130 countries worldwide, a Babylonstoren estate, a farm, and a vineyard contributing significantly to his wealth source.
The recorded net worth of Koos Bekker is 3 billion US dollars.
11. Patrice Motsepe
Patrice Tlhopane Motsepe is a renowned South African mining businessman, founder of African Rainbow Mineral, and a non-executive chairman of the 12th largest global gold mining company known as Harmony Gold.
Source of fortune
A more significant part of Patrice Motsepe’s wealth comes from his mining interest that got expanded in 2004.
Patrice Motsepe’s present net worth is 2.9 billion US dollars.
12. Mohamed Mansour
Mohamed Mansour is the 12th richest in Africa. He controls the family’s conglomerate Mansour Group, the general motors’ dealership owner, and has exclusive distribution rights for caterpillar equipment in Egypt.
Means of wealth
Mohamed’s means of fortune is from the establishment of General Motors dealerships in Egypt.
He is among GM’s most prominent distributors and has an exclusive right to distribute caterpillar equipment across Egypt.
The net worth of Mohamed Mansour is closely 2.5 billion US dollars.
13. Aziz Akhannouch
Aziz is a Moroccan interested in oil and gas, CEO of Akwa Group founded by his father, president of royalist political party, and minister of agriculture and fisheries in Morocco.
Means of Akhannouch’s acquired wealth
Undoubtedly, Akhannouch’s wealth is from petroleum and Akwa Group, set up by his father and partner in 1932.
Aziz Akhannouch has a net worth of 1.9 billion US dollars.
14. Mohamed Al-Fayed
Mohamed Al-Fayed, the fourteenth richest in Africa, is an Egyptian businessman, owner of Ritz hotel in Paris, and Harrods department store in London.
Means of wealth Mohamed acquired
Mohamed’s source of money is definitely from his number of prestigious holdings, interest in the Fulham Football Club.
The fortune of Mohamed Fayed has risen to about 1.8 billion US dollars.
15. Mohammed Dewji
Mohammed Dewji is a Tanzanian billionaire businessman, CEO of METL, formed in the 1970s by his father.
Source of acquiring money
The family retail business of Mohammed takes the credit for his billionaire status, which later turned to a PanAfrican conglomerate with a significant interest in flour milling, textile manufacturing, edible oils, and beverages.
He has a boastful net worth of 1.6 billion US dollars.
16. Strive Masiyiwa
Strive Masiyiwa is a billionaire businessman, philanthropist, London-based Zimbabwean, and founder of Econet.
What made him an African billionaire
Strive Masiyiwa’s earnings are from 50% of the Econect wireless Zimbabwe that circulates worldwide through public trading.
He owns more than half of the private company Liquid Telecom that provides satellite services across Africa.
The net worth of the Zimbabwean billionaire is 1.5 billion US dollars.
17. Youssef Mansour
The 17th richest person in Africa is Youssef Manssour, the chairman of the family-owned Egyptian Mansour Group.
He is in charge of distributing GM vehicles and caterpillar equipment to many countries, overseer of the consumer goods division.
Source of Youssef’s wealth.
Youssef Mansour made lots of fortune from Metro, a supermarket chain in Egypt, the largest seller of GM vehicles worldwide, and more money from his impressive sales of caterpillar machines.
Youssef has a net worth of 1.5 billion US dollars.
18. Othman Benjelloun
Othman Benjelloun is a Moroccan businessman and bank billionaire. He’s the chief executive officer of BMCE Bank of Africa and the son of a shareholder in a Moroccan Insurance company.
Source of Othman’s income
His primary source of income is from Ranch Adarouch, which he co-owns, and is one of the most prominent cattle breeders in Africa.
He also has a share in the arm of French telecom firm orange.
The zealous Benjelloun has a net worth of 1.3 billion US dollars.
19. Michiel Le Roux
Michiel Le Roux, the nineteenth richest in Africa, is a South African entrepreneur, motivator, and founder of Capitec Bank with an 11% share owned.
Source of wealth
Michiel Le Roux’s source of fortune is banking as he is the establisher of Capitec Bank that houses more than 13,000 employees and over 800 branches.
With an 11% share he owns, Roux has a net worth of 1.1 billion US dollars.
20. Yasseen Mansour
Yasseen Mansour is one of the brothers of Mansour’s, the chairman of Palm Hills Developments, and one of the known names in Egypt’s real estate development sector.
Source of wealth
The more significant part of his fortune comes from the family Mansour Group, although he is the founder of Man foods and a real estate developer.
Yasseen Mansour has a net worth of 1.1 billion dollars.
21. Isabel dos Santos
Isabel dos Santos, also called Princess, is one of the primary stake owners of Portuguese companies like telecom and cable TV firm and a daughter to Angola former president Jose Eduardo dos Santos.
Means of fortune
Though the father was a one-time president, Isabel still owns shares in reputable companies and is also a private investor.
Her net worth is 2.2 billion US dollars.
22. Folorunso Alakija
Folorunso Alakija is a Nigerian vice-chairman of Famfa Oil, the owner of a fashion label whose customers are the wife’s likes to former Nigerian president Babangida.
Wealth attribution of Alakija
Alakija’s primary source of wealth is the oil sector, fashion line, and real estate.
He has a net worth of 1 billion US dollars.
Who are the top 10 richest men in Africa?
According to Forbes, Aliko Dangote is the richest man in the continent, counting the top ten. Nassef Sawiris, Nicky Oppenheimer, Johann Rupert, and Mike Adenuga are part of the top ten.
Others include Abdul Samad Rabiu, Issad Rebrab, Naguib Sawiris, Patrice Motsepe, and Koos Bekker.
Who are the top 10 richest men in Africa in 2021?
The same people in the list of top 10 richest men in 2019 appeared in 2021, implying that they’re getting richer by year through maximum profit from their businesses.
The list includes Aliko Dangote, Nassef Sawiris, Nicky Oppenheimer, Johann Rupert, Mike Adenuga, Abdul Rabiu, Issad Rebrab, Naguib Sawiris, Patrice Motsepe, and Koos Bekker.
The names listed above appeared on Forbes Africa’s (pan African business media company focusing on tech, investment, and entrepreneurship) bill list of 2020.
The business insider ranking has 15 names from the lists, and some of these African made the list of wealthiest people in the whole world.
Most, if not all, are humanitarians, philanthropists, and businessmen who have used their wealth in one way or the other to eradicate poverty, foster economic growth and education through scholarships.