Aliko Dangote, Johann Rupert Sit Atop Africa’s Forbes Richest Persons List in 2023

Aliko Dangote and Johann Rupert remained the richest people in Africa in 2023, according to the latest Forbes ranking released recently.

Aliko Dangote: £13.5 billion (Nigeria)

Once again, Nigeria billionaire, Aliko Dangote leads the list of Africa’s richest men. The founder of Dangote Group has held on to the top spot for more than eight years. His cement factory is the largest in Africa with operations in ten countries across Africa.

Dangote has also ventured into oil and gas production with his ambitious oil refinery in Lagos which will be the world’s largest oil refinery in a single production. 

Johann Rupert and Family: $10.7 billion (South Africa)

Johann Rupert is the eldest son of business tycoon Anton Rupert. He is the chairman of the Swiss-based luxury goods company Richemont and the South Africa-based company Remgro. His business interest is within Retail and Fashion. Johann was also reported to inherit diamond from his late father.

Nicky Oppenheimer: $8.4 billion (South Africa)

Nicky Oppenheimer was formerly the chairman of De Beers’ diamond mining company. Born in 1945 to a German Jewish father. In 2012, Oppenheimer sold his family’s 40% stake in De Beers, the world’s biggest diamond producer for $5.2 billion in cash. Nonetheless, the billionaire still maintains private equity investments across Africa, Asia, the US and Europe. 

Abdul Rasheed Rabiu: $7.6 billion (Nigeria)

Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. In early January 2020, Rabiu merged his privately-owned Obu Cement company with the listed firm Cement Co. of Northern Nigeria, which he controlled.

The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.2% of it. Just like his kinsman, Aliko Dangote, Abdulsamad Rabiu also have an oil refinery which is under construction in oil-rich Akwa Ibom State. 

Nassef Sawiris: $7.2 billion (Nigeria) 

Nassef Sawiris is an investor and a scion of Egypt’s wealthiest family. His most valuable asset is a nearly 6% stake in sportswear maker Adidas.

To everyone’s surprise, in December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden Sports, the mother company of the NBA Knicks and the NHL Rangers teams. Nassef also has a stake in cement giant Lafarge Holcim. 

Mike Adenuga: $5.6 billion (Nigeria) 

Adenuga who is Nigeria’s third richest man built his fortune in telecom and oil production. He is the founder of Globacom with more than 55 million subscribers. His oil company, Conoil operates 6 oil blocks in Niger Delta.

He was reported to have made his first million at age 26 selling lace cloth and distributing soft drinks.

Issad Rebrab and Family: $4.6 billion (Algeria)

Issad Rebrab founded Cevital, Algeria’s biggest privately-held company, serving as the CEO for more than 50 years. The company owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year.

Cevital also owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill and a German water purification company. Isaac Rebrab was jailed for 8 months for corruption and released in 2020. He denied any wrongdoing after his release. 

Naguib Sawaris: $3.3 billion (Egypt)

Naguib Sawiris is a scion of Egypt’s wealthiest family. His brother Nassef is also a billionaire. He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction.

Through his Media Globe Holdings, Sawiris owns 88% of the pan-European pay TV and video news network Euronews.

Patrice Motsepe: $3.1 billion (South Africa)

Patrice Motsepe is the founder and chairman of African Rainbow Minerals. He became a billionaire in 2008. In 2016, he launched a private equity firm, African Rainbow Capital, focused on investing in Africa.

In March 2021, Motsepe was elected president of the Confederation of African Football, the sport’s governing body on the continent.

Mohamed Mansour: $2.8 billion (Egypt)

Mohamed Mansour oversees the family conglomerate Mansour Group, which was founded by his father in 1952. The company has 60,000 employees.

Mansour established General Motors dealerships in Egypt in 1975, later becoming one of GM’s biggest distributors worldwide.

He served as Egypt’s minister of transportation from 2006 to 2009 under the Hosni Mubarak regime.