Dangote leads Forbes’ 2025 African billionaires list

Abdullateef Fowewe

Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have been named in Forbes’ 2025 list of African billionaires.

Dangote, founder of Dangote Petroleum Refinery with a net worth of $23.9 billion, remains Africa’s richest man, thanks largely to the valuation of his Dangote Refinery.

The chairman of Globacom, a telecommunication company in Nigeria, Adenuga ranks fifth with $6.8 billion, chairman of BUA Group, Rabiu sixth with $5.1 billion, and Otedola 16th with $1.5 billion.

The combined wealth of Africa’s billionaires has surpassed $100 billion for the first time, driven by Nigerian business mogul.

Forbes notes, “South Africa had the largest number of billionaires this year, with seven, followed by four from Nigeria and four from Egypt.

“The list also includes three billionaires from Morocco, one from Algeria (Isaad Rebrab), one from Tanzania (Mohammed Dewiji) and one (Masiyiwa) from Zimbabwe.

“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.

“Net worths were calculated using stock prices and currency exchange rates from the close of business on March 7, 2025.”