Forbes has released the list of the richest men in Africa in 2025, with Nigerian billionaire Aliko Dangote leading the pack
Dangote, in the latest ranking, was listed among the 100 richest men in the world, climbing nearly 20 places from the previous year
Mike Adenuga of Globacom and Abdul Samad Rabiu of BUA Group were the other Nigerians on the list of Africa’s wealthiest

Dave Ibemere, a journalist at Legit.ng, has been reporting on business for over ten years. He has deep knowledge of the Nigerian economy, stock market, and general market trends.

Forbes has reported that the combined net worth of African billionaires for the first time ever has crossed the $100 billion threshold.

Also, the number of billionaires ranked in Africa increased to 22 in 2025 from 20 in the previous year, 2024.

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Alike Dangote remains Africa's richest man as Mike Adenuga of Globacom and Abdul Samad Rabiu of BUA Group make Forbes' latest list. photo credit: Bloomberg/contributorSource: Getty Images

Forbes disclosed this in its latest report titled "Africa’s Billionaires Are Richer Than Ever". In the report, the magazine announced that African billionaires are worth $105 billion, up from $82.4 billion last year.

Share of African billionaires by country

Nigeria has 4 billionaires, followed by South Africa with 6, Egypt with 6, Morocco with 3, while Algeria, Tanzania, and Zimbabwe have 1 each.

Richest men in Africa

Aliko Dangote has once again secured the crown as the richest African for the 14th consecutive year, with his net worth rising to an estimated $23.9 billion from $13.9 billion last year.

His closest rival from Africa, Johann Rupert, who is 111 places below Dangote in the global ranking, has a net worth of $14 billion.

According to information from Forbes, Dangote’s wealth comes primarily from his conglomerate, Dangote Industries, comprising cement manufacturing, food, and others.

Dangote owns 86% stake in Dangote Cement, Africa’s largest cement manufacturer, with over N8 trillion market capitalisation.

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Aliko Dangote shines as Africa's richest man in the latest Forbes' list which includes Mike Adenuga of Globacom and Abdul Samad Rabiu of BUA Group. Photo credit: Bloomberg/contributorSource: Getty Images

Forbes' World Billionaire list

Forbes said it compiled its list of billionaires using prevailing stock market prices and exchange rates.

"Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen; and South African Nathan Kirsh, who operates out of London and has his business in the U.S. and U.K.