10 richest people in Africa in Q1, 2024

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Africa’s economic reality is a tale of highs and lows, and this is mirrored in the fortunes of its billionaires in the first quarter of 2024.

  • Business Insider Africa presents the 10 richest people in Africa in Q1, 2024
  • Dangote’s fortune now stands at $15.1 billion, leaving Rupert & Family trailing with $11.2 billion.
  • The list is courtesy of the Forbes real-time billionaires list.

So much is happening on the continent all at once. For instance, some countries have made progress in combating inflation, while others find themselves entangled in its tightening grip. Positive economic forecasts contrast sharply with gloomy outlooks, with rising debt overwhelming some economies.

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Amidst these economic dynamics, the lives of people and businesses, including billionaires on the continent, are affected. In an earlier article, we wrote about the 10 richest people in Africa at the start of 2024 based on Forbes’ Real-Time Billionaires ranking, which track the daily ups and downs of the world’s richest people.

Looking at the data so much has happened between then and now.

At the beginning of 2024, Johann Rupert & Family held the title of the richest in Africa with a net worth of $10.3 billion. Aliko Dangote wasn’t far behind, with a respectable $9.5 billion to his name. However, the situation has since changed, with Dangote’s fortune now standing at $15.1 billion, leaving Rupert & Family trailing with $11.2 billion.

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Issad Rebrab & Family from Algeria, who held a fortune of $4.6 billion at the beginning of 2024, has dropped off the list of Africa’s top 10 billionaires. Instead, Koos Bekker now stands among the elite with a worth of $2.7 billion.

Interestingly, Nigerian billionaire, Mike Adenuga, who started the year as the 10th richest with $3.1 billion, has seen a remarkable climb. His wealth has spiked to $6.9 billion, making him Africa’s 6th richest man.

Below are the 10 richest people in Africa in Q1, 2024:

RankNameNet worthCountryIndustryGlobal rank
1Aliko Dangote$15.1 billionNigeriaCement, Sugar129th
2Johann Rupert & Family$11.2 billionSouth AfricaLuxury goods228th
3Nicky Oppenheimer & Family$9.5 billionSouth AfricaDiamonds256th
4Nassef Sawiris$8.9 billionEgyptConstruction and investments287th
5Nathan Kirsh$7.1 billionEswatini (Swaziland)Retail, real estate384th
6Mike Adenuga$6.9 billionNigeriaTelecom, oil407th
7Abdulsamad Rabiu$6.3 billionNigeriaCement, Sugar461st
8Naguib Sawiris$3.8 billionEgyptTelecom846th
9Mohamed Mansour$3.2 billionEgyptDiversified1039th
10Koos Bekker$2.7 billionSouth AfricaMedia, investments1255th
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