Africa’s wealthiest individuals have reached a historic landmark, with the continent’s billionaires collectively surpassing $100 billion in total wealth for the first time. The 2025 Forbes’ African Billionaires list reveals 22 billionaires with a combined net worth of $105 billion, representing a significant increase from $82.4 billion in 2024, when only 20 billionaires made the list.

Aliko Dangote continues his reign as Africa’s richest person for the 14th consecutive year. His wealth has experienced an extraordinary increase, jumping by $10 billion from $13.9 billion in 2024 to $23.9 billion in 2025. This remarkable growth stems primarily from including the Dangote Refinery in his valuation.

The refinery, which began refining crude oil in early 2024 after experiencing various delays, is expected to reach full operational capacity this month. This development marks a significant shift for Nigeria, enabling the major oil-producing nation to transition from importing refined petroleum products to exporting them.

Nigeria’s billionaire representation on the list includes:

• Abdul Samad Rabiu ranks fifth with a net worth of $7.6 billion
• Mike Adenuga holds the sixth position with $6.9 billion
• Femi Otedola secured the eighteenth spot with $1.5 billion, benefiting from a 40% increase in his company Geregu Power Plc’s stock price, driven by substantial revenue and profit growth.

South Africa Leads in Billionaire Count

South Africa maintains its position as the country with the highest number of billionaires in Africa, with seven individuals on the list. Johann Rupert remains in second place overall with $14 billion, representing a 39% increase from the previous year.

South African investor Jannie Mouton has returned to the billionaire ranks following a 59% surge in the stock price of Capitec Bank Holdings, one of his key investments.

Geographic Distribution of Africa’s Billionaires

The distribution of billionaires across African countries shows:

• South Africa: 7 billionaires
• Nigeria: 4 billionaires
• Egypt: 4 billionaires
• Morocco: 3 billionaires
• Algeria, Tanzania, and Zimbabwe: 1 billionaire each

Moroccan billionaire Anas Sefrioui has rejoined the ranking after his real estate firm, Douja Promotion Groupe Addoha, saw its stock price more than double.