Top 10 richest people in Africa in 2026, according to Forbes List

Dorcas Agambila 12:11 - 12 March 2026

Alhaji Aliko Dangote

Aliko Dangote has been named Africa’s richest man for the 15th consecutive year in the 2026 ranking released by Forbes.

Nigerian business magnate Aliko Dangote has once again been recognised as the richest individual in Africa, marking the 15th consecutive year he has topped the continent’s billionaire rankings, according to the latest list released by Forbes.

The 2026 ranking, published on 9 March, features 23 African billionaires, including notable figures such as Abdulsamad Rabiu, Mike Adenuga, Johann Rupert and Michiel Le Roux.

Notably, no woman made the list this year.

Collectively, Africa’s billionaires now hold a combined fortune of $126.7 billion, representing a 21 per cent increase from the $105 billion recorded in 2025.

The ranking focuses on African billionaires who either reside on the continent or whose primary business interests are based there.

Africa’s 10 Richest Billionaires in 2026

1. Aliko Dangote

The 68-year-old Nigerian entrepreneur built his fortune largely through cement and sugar production. In 2023, he launched one of Africa’s largest oil refineries in Lagos.

According to Forbes, Dangote’s wealth is estimated at $28.5 billion. Shares of Dangote Cement have risen significantly, climbing nearly 69 per cent since March last year, while the company reportedly doubled its profits in 2025 to a record one trillion naira.

The billionaire has also announced plans to list his refinery on the stock market and recently confirmed a $400 million deal with a Chinese machinery firm aimed at doubling the refinery’s production capacity by 2029.

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2. Johann Rupert

The South African luxury goods magnate retained the second position on the list with a net worth of $16.1 billion.

PC: Wine Spectator

3. Abdulsamad Rabiu

Rabiu emerged as the biggest gainer on the list. His wealth increased by 120 per cent, rising by $6.1 billion to reach $11.2 billion.

The chairman of BUA Group moved from sixth place in 2025 to become Africa’s third-richest person in 2026. His company, BUA Cement, saw its share price surge 135 per cent on the Nigerian Exchange.

4. Nicky Oppenheimer and Family

The former diamond mining executive, whose wealth is tied to the De Beers fortune, occupies the fourth position with an estimated net worth of $10.6 billion.

Oppenheimer also owns approximately 720 square miles of conservation land across southern Africa, including areas in South Africa, Botswana, Zimbabwe and Mozambique.

PC: Forbes Africa

5. Nassef Sawiris

The Egyptian investor has an estimated wealth of $9.6 billion.

Sawiris holds a stake in Aston Villa and owns about 6 per cent of sportswear giant Adidas. He is also expected to become chairman of Adidas at a shareholder meeting scheduled for May.

PC: Forbes

6. Mike Adenuga

Nigeria’s telecom and oil tycoon has a net worth estimated at $6.5 billion.

His telecommunications company, Globacom, remains one of the country’s largest mobile network operators, serving more than 17 million subscribers.

PC: Forbes

7. Naguib Sawiris

The Egyptian telecom investor holds an estimated fortune of $5.6 billion.

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8. Patrice Motsepe

Motsepe, founder and chairman of African Rainbow Minerals, became a billionaire in 2008 and was the first Black African to appear on the Forbes billionaire list.

His net worth is estimated at $4.3 billion. In 2016, he launched the investment firm African Rainbow Capital.

9. Mohamed Mansour

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The Egyptian businessman is estimated to be worth $4 billion.

10. Michiel Le Roux

The founder of Capitec Bank closes the top ten with an estimated fortune of $3.8 billion.

His wealth increased significantly after Capitec’s shares rose 57 per cent on the Johannesburg Stock Exchange.

Other Billionaires on the List

Other notable figures featured in the ranking include Koos Bekker, Issad Rebrab, Jannie Mouton and Mohammed Dewji.

Four of the 23 billionaires were reported to be poorer than they were a year earlier.

Among them, Moroccan businessman Anas Sefrioui lost about $300 million after shares of Group Addoha dropped by more than 30 per cent.

Similarly, Nigerian investor Femi Otedola lost approximately $200 million after selling a large portion of his stake in Geregu Power at a discounted price.

Both men are now estimated to be worth $1.3 billion, the lowest fortunes recorded on the list.

Billionaires by Country

The ranking also shows which countries have the highest number of billionaires in Africa:

South Africa – 7 billionaires
Egypt – 5 billionaires
Nigeria – 4 billionaires
Morocco – 3 billionaires

Notably, 14 of the 23 billionaires built their fortunes themselves rather than inheriting wealth.

How Forbes Calculates Billionaire Wealth

According to Forbes, the estimates are based on stock prices and currency exchange rates recorded at the close of business on 1 March 2026.

Forbes explained;

To value privately held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sales, price-to-earnings or similar ratios used by comparable public companies

The publication also noted that fortunes can change quickly.

Some members of the list may become richer or poorer within weeks or even days of the measurement date.

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