Dangote Overthrown From Richest Man in Africa by South African Billonaire

In January 2024, Johann Rupert & Family have surpassed Aliko Dangote to become Africa’s richest, with Dangote moving to the second position due to a decrease in his wealth from $13.5b in 2023 to $9.5b in 2024. 

Notable Nigerian billionaire, Mike Adenuga also dropped to the tenth position. Patrice Motsepe, present in the top ten in 2023, did not make the 2024 list

The declines in wealth point to economic challenges across African countries, attributed to factors like Naira devaluation. In the 2024 rankings, Johann Rupert & Family’s wealth decreased from $10.7b to $10.3b, securing their position as Africa’s richest.

Below is the full list of the top 10 richest individuals in 

Top 10 Richest Individuals in Africa (2024 UPDATED)

Rank Name Net Worth (in billion USD)
1 Johann Rupert & Family 10.3
2 Aliko Dangote 9.5
3 Mike Adenuga 3.1
4 Abdulsamad Rabiu 5.9
5 Nicky Oppenheimer 8.3
6 Nassef Sawiris 7.4
7 Nathan Kirsh 5.8
8 Issad Rebrab 4.6
9 Mohamed Mansour 3.6
10 Naguib Sawiris 3.3

There was a significant decline in the wealth of Africa’s top billionaires. Nigeria’s Mike Adenuga, moved to the tenth position, while Patrice Motsepe who was in the top ten in 2023 did not make the top ten richest men in Africa in 2024. 

It is worthy of note that no woman made the top ten richest as at the beginning of 2024.

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