Top 20 Richest Africans for 2022 According to Forbes

Last updated on January 29th, 2022 at 07:51 am

For the 11th time in a row, the Chairman of Dangote Group Alhaji Aliko Dangote has again been rated as the wealthiest in Africa, according to Forbes 2022 list which was released on January 24, 2022.

Despite the pandemic that ravaged many businesses between 2021, the latest list shows that the Nigerian billionaire’s wealth grew from $12.1 billion to an estimated net worth of $13.9 billion. That’s 30 per cent growth.

Forbes attributed the growth in Aliko Dangote’s wealth to the sterling performance of Dangote Cement on the Nigerian Exchange.

At the end of 2021, Bloomberg put his wealth at $19.2 billion. Remember, Bloomberg and Forbes, use different indicators to measure wealth.

Other Nigerian billionaires that made the top 10 richest Africans are 1) Abdul Samad Rabiu and Mike Adenuga.

Earlier in our reports, we reported how the market capitalisation of BUA Foods stocks grew astronomically, making BUA Founder to take the position of GLO Founder as the second richest Nigerian man.

At the time of publication, Abdul Samad Rabiu is sitting on $7 billion, making him the fifth richest African billionaire while Mike Adenuga who is now in the third position in Nigeria is ranked as the sixth African richest man, sitting on a net worth of $6.7 billion.

The report noted that Africa’s billionaires were richer than they had been in years, despite the outbreak of covid-19.

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Jumping from number four (2021) to number two in the 2022 ranking is the South African Fashion and retail business mogul Johann Rupert.

It’s revealed that more than a 60 per cent surge in the share price of his Compagnie Financiere Richemont–maker of Cartier watches and Montblanc pens–pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the biggest dollar gainer on the list.

Another South African who occupied third place is Nicky Oppenheimer, who formerly ran diamond mining firm DeBeers before selling it to mining firm Anglo American a decade ago, worth an estimated $8.7 billion.

Forbes said:

“To value privately-held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies”.

Forbes List 2022 for African Wealthiest

Below is the full list of African business moguls who control the largest wealth of the continent.

Rank Name Net Worth Business Interests
1 Aliko Dangote $13.9Billion Manufacturing
2 Joann Rupert $11Billion Fashion and retail
3 Nicky Oppenheimer $8.7 Billion Metals and Mining
4 Nassef Sawiris $8.6Billion Construction
5 Abdul Samad Rabiu $7Billion Diversified
6 Mike Adenuga $6.7Billion Diversified
7 Issad Rebrab $5.1Billion Food and beverage
8 Naguib Sawiris $3.4Billion Telecommunication
9 Patrice Motsepe $3.1Billion Metals and Mining
10 Koos Bekker $2.7Billiom Media and entertainment
10 Strive Masiyiwa $2.7Billion Telecom
12 Mohamed Mansour $2.5Billion Diversified
13 Aziz Akhannouch and Family $2.2Billion Diversified
14 Michiel Le Roux $1.7Billion Finance and investment
15 Othman Benjelloun and family $1.5Billion Finance and investment
15 Mohammed Dewji $1.5Billion Diversified
15 Youssef Mansour $1.5Billion Diversified
18 Yasseen Mansour $1.1Billion Diversified
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