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Africa’s Richest: 20 Billionaires Boast $82.4 Billion in 2024 Forbes List

Forbes has released its annual list of Africa’s billionaires, revealing a total of 20 individuals with a combined wealth of $82.4 billion. This represents an increase of $900 million compared to the previous year.

Aliko Dangote of Nigeria remains the continent’s richest person, with a fortune estimated at $13.9 billion. He is followed by Johann Rupert and family of South Africa ($10.7 billion), Nicky Oppenheimer and family of South Africa ($10 billion), and Nassef Sawiris of Egypt ($9.4 billion).

Mohammed Dewji of Tanzania is the biggest riser on the list, jumping from 15th place in 2023 to 12th place in 2024. His wealth is now estimated at $2 billion, up from $1.5 billion the previous year.

Here is the full list of Africa’s 20 billionaires for 2024:

  1. Aliko Dangote (Nigeria): $13.9 billion
  2. Johann Rupert and family (South Africa): $10.7 billion
  3. Nicky Oppenheimer and family (South Africa): $10 billion
  4. Nassef Sawiris (Egypt): $9.4 billion
  5. Mike Adenuga (Nigeria): $7.3 billion
  6. Abdulsamad Rabiu (Nigeria): $6.2 billion
  7. Naguib Sawiris (Egypt): $4 billion
  8. Mohamed Mansour (Egypt): $3.4 billion
  9. Koos Bekker (South Africa): $2.8 billion
  10. Patrice Motsepe (South Africa): $2.8 billion
  11. Issad Rebrab and family (Algeria): $2.6 billion
  12. Mohammed Dewji (Tanzania): $2 billion
  13. Yasseen Mansour (Egypt): $1.9 billion
  14. Aziz Akhannouch (Morocco): $1.8 billion
  15. Othman Benjelloun (Morocco): $1.7 billion
  16. Michiel Le Roux (South Africa): $1.6 billion
  17. Strive Masiyiwa (Zimbabwe): $1.4 billion
  18. Ndumiso Mbeki (South Africa): $1.3 billion
  19. Stephen Saad (South Africa): $1.2 billion
  20. Said HI (Morocco): $1.1 billion

The rise of Africa’s billionaires

The number of billionaires in Africa has been steadily increasing in recent years, reflecting the continent’s growing economic clout. In 2010, there were just 16 billionaires on the continent. This number has now more than doubled.

The rise of Africa’s billionaires is due to a number of factors, including the continent’s strong economic growth, the expansion of the middle class, and the discovery of new natural resources.

The impact of Africa’s billionaires

The wealth of Africa’s billionaires is having a significant impact on the continent. They are investing in businesses, creating jobs, and funding philanthropic initiatives.

However, there is also some concern that the growing wealth inequality in Africa could lead to social unrest.

The future of Africa’s billionaires

The number of billionaires in Africa is likely to continue to grow in the years to come. This will be driven by the continent’s continued economic growth and the discovery of new natural resources.

The impact of Africa’s billionaires on the continent will be significant. They will play a key role in shaping the future of Africa.

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