The Wealthiest People in Africa in 2023
Forbes’ 2023 ranking revealed that Africa’s top billionaires collectively experienced a decrease in wealth of $3.1 billion over the past year, attributable to a global market decline in 2022. The net worth of the continent’s 19 billionaires is estimated at $81.8 billion, a decrease from the $84.9 billion amassed by 18 African billionaires a year ago. This represents a significant 3.6% decrease from the previous year’s 15% increase, driven by rising stock prices in Nigeria and Zimbabwe. The downturn in their fortunes is in alignment with global equity values, with the S&P All Africa index dropping over 20% in the first nine months of 2022, before rebounding slightly towards the latter part of the year, resulting in only a 3% decrease over the past 12 months.
The wealthiest individual in Africa for the twelfth consecutive year, Aliko Dangote of Nigeria, witnessed his fortune decrease by $400 million to $13.5 billion. South African luxury goods tycoon Johann Rupert retained the No. 2 position, with a net worth of $10.7 billion, down from $11 billion in 2022. Nicky Oppenheimer of South Africa, who previously headed the De Beers diamond mining company, secured the No. 3 spot, with an estimated net worth of $8.4 billion.
Forbes’ list observed the reemergence of South Africa’s Christoffel Wiese, securing the No. 18 position with a net worth of $1.1 billion. Consequently, South Africa now lays claim to five billionaires, the highest count across any African country, followed by Egypt with four and Nigeria with three. The billionaires list comprises individuals from seven African countries.
The net worths of these individuals were calculated based on stock prices and currency exchange rates as of January 13, 2023. The ranking primarily focuses on the wealth of African billionaires residing in Africa or with their key business operations on the continent.
The top 10 richest individuals in Africa for 2023 are as follows:
1. Aliko Dangote – Net worth: $13.5 billion
2. Johann Rupert and Family – Net worth: $10.7 billion
3. Nicky Oppenheimer & Family – Net worth: $8.4 billion
4. Abdulsamad Rabiu – Net worth: $7.6 billion
5. Nassef Sawiris – Net worth: $7.2 billion
6. Mike Adenuga – Net worth: $5.6 billion
7. Issad Rebrab & Family – Net worth: $4.6 billion
8. Naguib Sawiris – Net worth: $3.3 billion
9. Patrice Motsepe – Net worth: $3.1 billion
10. Mohamed Mansour – Net worth: $2.8 billion
The individuals on the list hail from diverse industries such as cement, luxury goods, diamonds, telecom, oil, and mining. It is pertinent to note that the net worths of these billionaires are subject to fluctuations within weeks or even days of the measurement date, underscoring the dynamic nature of their wealth.
The growth and accomplishments of these individuals, and the influence they have exerted on their respective countries and industries, are truly remarkable. Their triumphs stand as a source of inspiration for numerous aspiring entrepreneurs across the continent.
