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Monarchy was the dominant form of governance across pre-colonial Africa, with many kings revered not only for their ceremonial roles but also for their influence and inherited wealth.
While some served symbolic purposes, others wielded substantial power, commanding respect and controlling vast fortunes passed down through royal dynasties.
Previously, Intel Region highlighted the wealthiest monarchs in Nigeria and Yorubaland.
This article expands that focus to present the top ten richest kings across the African continent.
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1. King Mohammed VI of Morocco – $2.1 Billion
King Mohammed VI ascended the Moroccan throne in 1999, following the death of his father, King Hassan II. As the head of the Alawi dynasty, he is Africa’s wealthiest monarch, with an estimated net worth of $2.1 billion.
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Aside from his royal duties, King Mohammed VI is a formidable businessman. His family controls a significant stake in Société Nationale d’Investissement (SNI), a formerly state-owned investment firm. His fortune places him among the wealthiest royal families globally.
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2. Oba Obateru Akinruntan (Olugbo of Ugbo, Nigeria) – $300 Million
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Oba Frederick Obateru Akinruntan, the Olugbo of Ugbo in Ondo State, Nigeria, is both a traditional ruler and a successful entrepreneur. He founded Obat Oil, one of Nigeria’s largest private oil companies. Though not the most influential Yoruba monarch, he is reportedly the wealthiest, with a net worth of $300 million.
Crowned in 2009, Oba Akinruntan is known for his luxurious lifestyle. "In 2012, he made history as the first Black individual to purchase the 2014 Bentley model previously owned by Queen Elizabeth II." He also allegedly owns one of Nigeria’s most expensive yachts, befitting the riverine setting of his kingdom.
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3. Sultan Sa’adu Abubakar III of Sokoto – $100 Million
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Sultan Sa’adu Abubakar III, the 20th Sultan of Sokoto, holds spiritual authority over Nigeria’s Muslim population and is the most prominent traditional ruler in Northern Nigeria. His estimated wealth stands at $100 million.
He succeeded his brother in 2006 and had previously served in the Nigerian military, occupying several administrative positions before taking on royal responsibilities.
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4. King Mswati III of Eswatini – $100 Million
King Mswati III, Africa’s last absolute monarch, became king of Eswatini at just 18. With a net worth of $100 million, he is also ranked among the wealthiest royals globally.
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Beyond his monarchic role, he serves as the CEO of Tibiyo TakaNgwane, a state-run investment company that manages the country's major assets.
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5. Oba Adeyeye Enitan Ogunwusi (Ooni of Ife) – $70 Million
Oba Adeyeye Enitan Ogunwusi, known as Ọjájá II, became the 51st Ooni of Ife in 2015 after the passing of Oba Okunade Sijuwade. With a fortune estimated at $70 million, he is among the richest kings in Yoruba land.
Before his ascension, he was a prominent real estate developer in Lagos. His garage boasts luxury vehicles, including a Rolls-Royce Phantom, Mercedes-Benz S550, and two Bentleys—symbolic of his opulence.
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6. Oba Ewuare II of Benin – $60 Million
Oba Ewuare II Odidigan, the 40th monarch of the historic Benin Kingdom, holds an estimated net worth of $60 million.
He succeeded his father, Oba Erediauwa, and oversees one of the oldest traditional institutions in West Africa.
A former diplomat and businessman, he is also a United Nations ambassador, combining his royal lineage with global influence.
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7. Obi Nnaemeka Alfred Ugochukwu of Onitsha – $50 Million
The 21st Obi of Onitsha, Obi Nnaemeka Alfred Ugochukwu Achebe, assumed the throne in 2002 after an illustrious career with the Royal Dutch Shell Group, where he served in various executive roles.
He currently chairs the board of Unilever Nigeria and serves as Chancellor at Ahmadu Bello University. His wealth is estimated at $50 million.
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8. Oba Rilwan Akiolu of Lagos – $40 Million
Oba Babatunde Aremu Akiolu, the Oba of Lagos, is one of Nigeria’s wealthiest monarchs, with a net worth of $40 million.
Before his coronation in 2003, he spent over three decades in the Nigeria Police Force, retiring as Assistant Inspector-General.
He is also affiliated with the Nigerian Law School and the Nigerian Institute of Management, combining royal influence with a strong professional background.
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9. Togbe Afede XIV of Asogli – $30 Million
Togbe Afede XIV, President of the Asogli State Council in Ghana, is valued at approximately $30 million. He was crowned in 2003 and holds degrees from the University of Ghana and Yale School of Management.
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His business portfolio includes chairing the World Trade Centre Accra and founding SAS Finance Group, a stock brokerage and advisory firm.
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10. Otumfuo Osei Tutu II of Ashanti – $30 Million
Otumfuo Osei Tutu II, King of Ghana’s Ashanti Kingdom, has a net worth of $30 million. Since 1999, he has served as the spiritual and political leader of the Asante people.
Educated in the UK, he founded Transpomech Ghana, a $12 million mining supply company, and owns significant real estate in Ghana and South Africa, including valuable crown jewels.
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These monarchs exemplify how tradition, influence, and entrepreneurship intertwine in modern Africa, showcasing not only royal heritage but also economic might.
How African Kings make money
Many African monarchs earn a significant income through the goodwill and generosity of their communities. It is not uncommon for wealthy members of a tribe or community to give substantial sums of money, cars, land or houses to their traditional Kings in return for spiritual blessings or unrelated favors. And since these traditional monarchs may wield significant influence in political circles, some of them get invited join boards of large corporations. Obi Nnaemeka Achebe, the Obi (King) of Onitsha, a mid-sized commercial town in Nigeria’s southeastern region, serves as the Non-Executive Chairman of Unilever Nigeria, a large publicly-listed manufacturer of consumer goods, and he previously served as Chairman of Diamond Bank, a leading Nigerian commercial bank. Oba Adedotun Gbadebo, who is the Alake (King) of Egbaland, a clan of Yoruba-speaking people in Nigeria, is the Chairman of Oando, a large Nigerian energy company.
Some of these rulers control large fortunes. Some have built their fortunes from scratch by starting successful enterprises and shrewdly reinvesting their profits into a diverse range of business concerns. Others have simply had wealth transferred to them by their forefathers.