Forbes Magazine’s latest rankings have revealed a significant shift in Africa’s wealthiest individuals, with Johann Rupert and family surpassing Aliko Dangote to claim the top spot.
The Forbes Daily billionaires ranking platform, which monitors daily fluctuations in the net worth of high-net-worth individuals worldwide, disclosed that Dangote’s wealth declined from $13.5 billion in 2023 to $9.5 billion at the beginning of 2024, causing him to slip to the second position.
Notably, Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga saw a drop in their rankings, with Adenuga falling to the tenth position. The rankings also witnessed the absence of Patrice Motsepe, who was among the top ten richest individuals in 2023, and no women made it to the top ten at the start of the year.
Economic challenges across African countries, including the devaluation of the Naira and other economic issues, contributed to the decline in the wealth of these individuals.
In the 2024 rankings, Johann Rupert & Family claimed the top spot with a net worth decrease from $10.7 billion to $10.3 billion. Aliko Dangote’s wealth decrease played a pivotal role in this shift. South Africa’s Nicky Oppenheimer & Family maintained their position with a wealth decrease from $8.4 billion in 2023 to $8.3 billion in 2024.
Nassif Sawiris moved up to the fourth position, displacing Rabiu Abdulsamad, whose diversified wealth decreased from $7.6 billion to $5.9 billion. A newcomer, Nathan Kirsh from Eswatini, entered the list in the sixth position with a net worth of $5.8 billion.
Mike Adenuga, who held a higher position in 2023, moved down four places to become the tenth richest man in Africa, witnessing a depreciation in wealth from $6.3 billion to $3.1 billion.
The rankings also saw Mohamed Mansour climbing to the eighth position, surpassing Naguib Sawiris, whose net worth remained at $3.3 billion. Patrice Motsepe, present in the top ten in 2023, did not make the list at the beginning of 2024, as his wealth depreciated to $2.5 billion.
Africa’s current top ten richest individuals are as follows:
1. Johann Rupert & Family – $10.3 billion
2. Aliko Dangote – $9.5 billion
3. Nicky Oppenheimer & Family – $8.3 billion
4. Nassef Sawiris – $7.4 billion
5. Abdulsamad Rabiu – $5.9 billion
6. Nathan Kirsh – $5.8 billion
7. Issad Rebrab & Family – $4.6 billion
8. Mohamed Mansour – $3.6 billion
9. Naguib Sawiris – $3.3 billion
10. Mike Adenuga – $3.1 billion
