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,
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 also contrast sharply with gloomy outlooks, with rising debt overwhelming some economies.
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.
Rupert & Family trailing with $11.2 billion.Looking at the data, so much has happened between then and now.
- The list is courtesy of the Forbes real-time billionaires list.
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.
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:
| Rank | Name | Net worth | Country | Industry | Global rank |
|---|---|---|---|---|---|
| 1 | Aliko Dangote | $15.1 billion | Nigeria | Cement, Sugar | 129th |
| 2 | Johann Rupert & Family | $11.2 billion | South Africa | Luxury goods | 228th |
| 3 | Nicky Oppenheimer & Family | $9.5 billion | South Africa | Diamonds | 256th |
| 4 | Nassef Sawiris | $8.9 billion | Egypt | Construction and investments | 287th |
| 5 | Nathan Kirsh | $7.1 billion | Eswatini (Swaziland) | Retail, real estate | 384th |
| 6 | Mike Adenuga | $6.9 billion | Nigeria | Telecom, oil | 407th |
| 7 | Abdulsamad Rabiu | $6.3 billion | Nigeria | Cement, Sugar | 461st |
| 8 | Naguib Sawiris | $3.8 billion | Egypt | Telecom | 846th |
| 9 | Mohamed Mansour | $3.2 billion | Egypt | Diversified | 1039th |
| 10 | Koos Bekker | $2.7 billion | South Africa | Media, investments | 1255th |
