Top 10 African Countries with the Wealthiest Individuals 2025

In Summary

• There are currently only 20 billionaires in Africa.
• As of 2024, the combined wealth of the 20 billionaires in Africa is $82.4 billion, an increase from the 2023 total of $81.5 billion.
• Nigerian billionaire, Aliko Dangote, the founder of Dangote Cement, the largest cement producer in Africa, has been the richest man in Africa for 13 years in a row.
• According to recent data, the total private wealth of the top wealthy people in Africa is around $2.5 trillion.

Deep Dive!!
Africa is a wealthy continent, especially in mineral resources, potential, and market opportunities. Yet, it continues to lag behind Asia, Europe, North America, and South America when it comes to ranking the wealthiest continent based on its total GDP.

According to recent data, there are currently only 20 billionaires (in USD) and about 10,000 millionaires (in USD) in Africa out of the 1.373 billion people in the continent—this means that the ratio of billionaires in Africa to its population is 0.00000000146 (or 1.46 in 100 million) of 1.373 billion population.

The statistics reveals the huge gap between the rich and the poor in the continent. Aliko Dangote (Nigeria), Johann Rupert & Family (South Africa), Nassef Sawiris (Egypt), and Patrice Motsepe (South Africa) are among the wealthiest individuals in Africa. Many African billionaires have accumulated wealth through industries like cement production, telecommunications, and diversified investments.

The data further reveals that the 20 billionaires in Africa are concentrated in only 7 countries out of the 54 countries in the continent. South Africa leads with six billionaires, followed by Egypt with five, Nigeria with four, and Morocco with two. Algeria, Tanzania, and Zimbabwe each have one billionaire.

Below is an overview of the top 10 African countries with the wealthiest individuals, highlighting both the number of billionaires, millionaires and high-net-worth individuals (HNWIs) where data is available.

Here are the top 10 African Countries with the Wealthiest Individuals in 2025. Check them out!

10. Angola: With a total population of 36.75 million (2023), Angola's wealth is primarily driven by its oil and gas industry, contributing to the nation's high-net-worth individuals. According to available data, the total private wealth in the country is $42 billion. Angola has no billionaires but has a record of 2,400 millionaires.

9. Kenya: Kenya's growing economy has led to an increasing number of millionaires, particularly in sectors like technology and real estate. The country has a population of 55.34 million (2023) with 8,500 of them certified as millionaires. According to available data, the total private wealth in Kenya is $91 billion.

8. Mauritius: Apart from hosting millionaires around the world in its wonderful beaches, Mauritius is climbing the ladder as one of the countries in Africa with the wealthiest individuals. While Mauritius may not have billionaires, it boasts the highest wealth per capita in Africa, explaining that the country can boast of 4,800 millionaires and a total Wealth per Capita of $37,500.

7. Zimbabwe: With a population of only about 16.34 million (2023), Zimbabwe finds itself as one of the countries with the wealthiest individuals, albeit this is a result of one individual— Strive Masiyiwa. Mr Masiyiwa is one of the twenty billionaires in Africa with a net worth of $3.1 billion. Zimbabwe's wealthiest individual is a prominent figure in telecommunications and engineering.

6. Tanzania: With a population of 66.62 million (2023), Tanzania’s GDP is currently estimated to be $423.72 billion. The East African country has one billionaire—Mohammed Dewji, who is worth $1.8 billion. The billionaire has diversified interests across multiple sectors.

5. Algeria: The North African country has a population of 46.16 million (2023) and boasts of a billionaire—Issad Rebrab, who is worth $2.7 billion. The Algerian sole billionaire has amassed wealth in the food and beverage industry. According to reports, the richest 20 percent of Algerians own 37.2 percent of the total income in the country.

4. Morocco: With a population of 46.16 million (2023), Morocco's average GDP per capita is $3,570.12. The country boasts 2 billionaires, namely; Aziz Akhannouch who is worth $1.7 billion, and Othman Benjelloun who is worth $1.6 billion. Morocco's wealthiest individuals have investments in energy and finance sectors.

3. Nigeria: Nigeria is Africa’s most populous country with a population of 227.9 million (2023). Nigeria's billionaires and wealthy individuals are predominantly involved in the manufacturing, telecommunications, and energy sectors. The country currently boasts 4 billionaires, namely; Aliko Dangote who is worth $13.9 billion, Mike Adenuga ($6.9 billion), Abdul Samad Rabiu ($5.9 billion), Femi Otedola ($1.5 billion). The West African nation also has 10,000 millionaires (in USD) with the wealthiest individuals controlling $228 billion in private wealth.

2. Egypt: With a population of 114.5 million (2023), Egypt's total private wealth is estimated to be $307 billion, making it the second-highest private wealth in Africa. The country has 5 billionaires, namely; Nassef Sawiris worth $9.6 billion, Naguib Sawiris worth $7.55 billion, Mohamed Mansour worth $3.3 billion, Youssef Mansour worth $1.3 billion, and Yasseen Mansour $1.2 billion. The country has 16,100 millionaires in USD. Egypt's wealthiest individuals have substantial investments in construction, telecommunications, and retail sectors.

1. South Africa: With a population of 63.21 million (2023), South Africa leads the continent in both the number of billionaires and millionaires, with significant wealth concentrated in sectors like fashion and retail, mining, and media. The country boasts 6 billionaires, namely, Johann Rupert and family worth $14.5 billion, Nicky Oppenheimer & family worth $11.5 billion, Patrice Motsepe worth $3.2 billion, Koos Bekker worth $3.2 billion, Michiel Le Roux worth $1.9 billion, and Christoffel Wiese worth $1.6 billion. South Africa has a record of 37,400 millionaires in USD and a total private wealth of $651 billion.