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HomeAfrica10 richest people in Africa in Q1 2024

10 richest people in Africa in Q1 2024

Africa’s economic reality is a tale of highs and lows, and this is mirrored in the fortunes of its billionaires in the first quarter of 2024.

So much is happening on the continent all at once. For instance, some countries have made progress in combating inflation, while others find themselves entangled in its tightening grip. Positive economic forecasts contrast sharply with gloomy outlooks, with rising debt overwhelming some economies.

Looking at the data so much has happened between then and now.

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At the beginning of 2024, Johann Rupert & Family held the title of the richest in Africa with a net worth of $10.3 billion. Aliko Dangote wasn’t far behind, with a respectable $9.5 billion to his name. However, the situation has since changed, with Dangote’s fortune now standing at $15.1 billion, leaving Rupert & Family trailing with $11.2 billion.

Issad Rebrab & Family from Algeria, who held a fortune of $4.6 billion at the beginning of 2024, has dropped off the list of Africa’s top 10 billionaires. Instead, Koos Bekker now stands among the elite with a worth of $2.7 billion.

Interestingly, Nigerian billionaire, Mike Adenuga, who started the year as the 10th richest with $3.1 billion, has seen a remarkable climb. His wealth has spiked to $6.9 billion, making him Africa’s 6th richest man.

Rank Name Net worth Country Industry Global rank

1

Aliko Dangote

$15.1 billion

Nigeria

Cement, Sugar

129th

2

Johann Rupert & Family

$11.2 billion

South Africa

Luxury goods

228th

3

Nicky Oppenheimer & Family

$9.5 billion

South Africa

Diamonds

256th

4

Nassef Sawiris

$8.9 billion

Egypt

Construction and investments

287th

5

Nathan Kirsh

$7.1 billion

Eswatini (Swaziland)

Retail, real estate

384th

6

Mike Adenuga

$6.9 billion

Nigeria

Telecom, oil

407th

7

Abdulsamad Rabiu

$6.3 billion

Nigeria

Cement, Sugar

461st

8

Naguib Sawiris

$3.8 billion

Egypt

Telecom

846th

9

Mohamed Mansour

$3.2 billion

Egypt

Diversified

1039th

10

Koos Bekker

$2.7 billion

South Africa

Media, investments

1255th