Every year, Forbes publishes the world’s Billionaire list. This list covers the richest people on the planet who have a net worth of 10 figures and above. In 2022, the list has shrunk from 2755 billionaires in 2021 to 2668, and their collective worth is down $400 billion.
These drops are due to two major causes, the sanctions imposed on Russian Oligarchs, and China’s crackdown on tech companies.
Contrarily, the combined net worth of Africa’s Billionaires has increased 15% in 2021 to reach $84,1billion.
Forbes looked at the stock prices and currency exchange rates data from January 19, 2022, to measure the net worths.
Here is a list of the 10 richest men in Africa:
Aliko Dangote is the richest man in Africa, with a net worth of $14 billion. He is the founder of the Dangote Group, the largest conglomerate in West Africa.
The richest man in Nigeria was born in Kano, Nigeria on October 4th, 1956, to a wealthy Muslim family.
Following his graduation from Al-Azhar University, Dangote began his business career in 1978, trading in cement, rice, and sugar. Later, he ventured into full-scale manufacturing, building the company that became Dangote Group.
Dangote was named the most powerful man in Africa in 2013 by Forbes and was listed as one of the most influential people in the world by TIME Magazine in 2014. CNBC also listed him among its ‘Top 25 Businessmen in the World’ that changed and shaped the century.
Johann Rupert is the second richest man in Africa and the wealthiest person in South Africa. He is chairman of Swiss luxury goods firm Compagnie Financiere Richemon, best known for brands such as Montblanc and Cartier. Johann founded the company through a spinoff of assets owned by Remgro Limited which was formed by his father Anton Rupert in the 1940s.
He also owns 7% of Remgro, which he chairs, as well as 25% of an investment holding company based in Luxembourg, named Reinet.
According to Forbes, Johann is worth $11 billion as of January 2022.
Nicky Oppenheimer is the third richest man in Africa, and the third generation of his family to run Debeers. He was the chairman of Debeers from 1998 to 2012 before he retired by selling the family stake.
Nicky Oppenheimer is worth $8.7 billion.
Nassef Sawiris is an Egyptian businessman and the youngest son of Onsi Sawiris. He received his secondary education from the Deutsche Evangelische Oberschule Kairo. He then continued at the University of Chicago where he got a bachelor’s degree in economics.
Nassef has a 6% stake in Adidas as well as other stakes in multiple companies including Lafarge Holcim, Madison Square Garden Sports, and Aston Villa.
He is the fourth richest man in Africa and the wealthiest person in Egypt with an estimated net worth of $8.6 billion.
Abdulsamad Rabiu is a Nigerian Businessman born on 4 August 1960 in Kano. He is the son of Khalifah Isyaku Rabiu, one of the top industrialists in Nigeria in the 1970s and the 1980s.
Abdulsamad Rabiu founded BUA Group in 1988 and serves as its chairman of the board and chief executive officer. BUA is a Nigerian conglomerate active in manufacturing, infrastructure, in addition to food and agriculture.
His net worth is estimated at $7 billion, making him the second richest man in Nigeria.
Mike Adenuga was born in April 1953, in Ibadan. Unlike many on this list, Mike’s parents weren’t rich. His father was a teacher and his mother was a trader. He had to work as a taxi driver in order to fund his education in the U.S.
Adenuga worked hard to become what he is today. He made his first million at the age of 26 by selling laces and distributing soft drinks.
Now, he owns multiple companies in the telecom and oil industries, such as Globalcom, the third largest mobile network in Nigeria.
Adenuga is worth $6.7 billion in 2022.
Issad Rebrab is the founder and CEO of Cevital, the biggest private company in Algeria. Cevital owns one of the biggest sugar refineries in the world as well as multiple European companies.
Rebrab was sentenced to 8 months in jail on charges of corruption, however, he still denies any wrongdoing.
He is the seventh richest man in Africa with a net worth of $5.1 billion.
In similar fashion to his brother Nassef, Naguib Sawiris is also a billionaire. However, he made most of his fortune in telecom by selling Orascom Telecom to Veon. He owned 88% of pan European TV network Euronews until he decided to sell his stake to a Portuguese investment firm last December.
Naguib Sawiris is worth $3.4 billion in 2022.
Patrice Motsepe is a South African Businessman and the country’s first black billionaire. He is the founder and chairman of African Rainbow Mineral.
Motsepe is a big football fan. In addition to owning the Mamelodi Sundowns Football Club, he is the president of the Confederation of African Football.
His net worth is estimated at $3.1 billion, making him the eighth richest man in Africa.
Koos Bekker and Strive Masiyiwa:
The tenth place in the list of the richest men in Africa is jointly occupied by Koos Bekker and Strive Masiyiwa. They’re equally worth $2.7 billion.
Masiyiwa made his fortune in the telecom industry while Bekker made it in the media sector.