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Reading Time: 4 minutes

Rich list

Aliko Dangote $10.1 billion

Nassef Sawiris $8 billion

Mike Adenuga $7.7 billion

Nicky Oppenheimer $7.7 billion

Johann Rupert $6.5 billion

Issad Rebrab $4.4 billion

Mohamed Mansour $3.3 billion

Abdulsamad Rabiu $3.1 billion

Naguib Sawiris $3 billion

Patrice Motsepe $2.6 billion

Koos Bekker – $2.5 billion

Yasseen Mansour – $2.3 billion

Isabel dos Santos – $2.2 billion

Youssef Mansour – $1.9 billion

Aziz Akhannouch – $1.7 billion

Mohammed Dewji – $1.6 billion

Othman Benjelloun – $1.4 billion

Michiel Le Roux – $1.3 billion

Strive Masiyiwa – $1.1 billion

Folorunsho Alakija – $1 billion

And for the ninth successive year in a row, popular African business tycoon and owner of the Dangote group of companies, Aliko Dangote, remains the wealthiest black person on earth, as revealed by Forbes Africa’s Billionaires list for 2020. 

In the recently published rankings, Forbes also disclosed the continued presence of some long-standing billionaires, including Nassef Sawiris of Egypt and Strive Masiyiwa of Zimbabwe amongst other renowned continental business figures. 

Although his current estimated net worth of $10.1 bn is a little bit shy of the $10.3 bn he had back in 2019, Aliko is still occupying comfortably the #1 spot, and doesn’t look like surrendering the position anytime soon. With an eye for business diversification, Dangote has been able to gather his fortune from cement production, flour and other domestic goods manufacturing, as well as a full-blown dive into the oil and gas industry.

Taking a closer look at the list above, it is evident that there is a tie for the #3 position, with Nigeria’s second wealthiest man, Mike Adenuga, and South Africa’s Nicky Oppenheimer each boasting a net worth of $7.7 bn. Similar to Dangote, Adenugamade his wealth by diversifying his investments, with a series of investments and ownerships in the banking, oil and gas, and telecommunication industries. His telecom company, Globacom, is certainly one of the biggest brands in Africa, and the third-largest telecom company in Nigeria.

Observing the list closely and one would notice a sudden gulf between the first five names on the list and the rest of the chasing pack. In fact, the difference between the fortunes of the fifth-placed billionaire (Johann Rupert, $6.5 bn) and the sixth-placed name (Issad Rebrab, $4.4 bn) is more than half the wealth of the seventh-placed billionaire (Mohamed Mansour, $3.3 bn). Such is the distance between the wealth of Africa’s top five wealthiest men and the rest of the continent. 

Completing the list is the wealthiest woman in Nigeria, Folorunsho Alakija. With an estimated net worth of $1 bn, Alakija comfortably occupies the 20th position on the list.