A record 3,428 entrepreneurs, investors and heirs made this year’s World’s Billionaires list, 400 more than in 2025. They are richer than ever, worth a record $20.1 trillion, up $4 trillion from last year. The U.S. has the most billionaires, with a record 989, including 15 of the top 20. China, including Hong Kong, is next, with 610, and India (229) ranks third.
Billionaire fortunes continue to surge in Africa although they account for only 22 or less than 1% of the global total. The members of the continent’s three-comma club—which surpassed $100 billion in combined wealth for the first time last year—are richer than ever, having added a collective $20.3 billion to their combined fortunes as major equity markets across the continent rally and regional currencies stabilize. In all, these 23 dealmakers and moguls are worth $126.7 billion, up 21% from 2025.
Aliko Dangote remains the richest of all, with an estimated net worth of $28.5 billion. He is $4.6 billion richer this year, as shares of his NGX-listed cement company surged nearly 69% since last March. Dangote Cement doubled its profits in 2025 to a record one trillion Naira. The Nigerian native, who plans to take his oil refinery public later this year, recently announced his company had signed a $400 million deal with a Chinese machinery company to accelerate plans of doubling the refinery’s full capacity by 2029.
The biggest gainer of all was Abdulsamad Rabiu, whose estimated net worth rose by 120%—or $6.1 billion—to $11.2 billion. He is now the third richest in Africa, up from number 6 a year ago and just behind luxury goods tycoon Johann Rupert (who is worth $16.1 billion). Shares of Rabiu’s biggest asset, BUA Cement, rose by 135%, outperforming the soaring Nigerian Stock Exchange (NGX), which is up by 81% to record highs over the past year as listed companies reported record profits and the government forced Pension Fund Administrators to increase holdings in equity investments. Capitec Bank founder Michiel Le Roux ($3.8 billion) is another big gainer as shares of the South Africa-listed financial institution jumped by 57%, outperforming the Johannesburg exchange’s 45% rise over the past year, as gold and platinum prices rose to new heights.
The only African billionaire who broke even this year was Nassef Sawiris. The Egyptian investor, who is worth an estimated $9.6 billion, owns a stake in the English Premier League soccer club Aston Villa. He also owns a roughly 6% stake in sportswear giant Adidas, in which he is set to become chairman at the company’s shareholder meeting in May
Of the 23 members of this year’s Africa billionaires list, only four are poorer than they were a year ago. One of them is Morocco’s Anas Sefrioui. The real estate mogul lost $300 million in wealth as shares of his company, Group Addoha, fell by more than 30%. He now ties Nigeria’s Femi Otedola, who lost $200 million in wealth after selling the majority of his stake in Geregu Power at a discount to the public company’s market price, as the “poorest” billionaire in Africa, by Forbes’ estimates. Each is worth $1.3 billion.
Fourteen (or 61%) of the 23 are self-made, meaning they established their fortunes rather than inheriting them. There are no women African billionaires, and all except one (Tanzania’s Mohammed Dewji, age 50) are older than 60. South Africa remains the region with the most billionaires, home to 7 of the continent’s 23, followed by Egypt (with 5), Nigeria (4) and Morocco (3).
Our list tracks the wealth of African citizens 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 Africans Nathan Kirsh and Paul Van Zuydam. Kirsh operates out of London and has his business in the U.S. and U.K., while Swiss-resident Van Zuydam’s business is based in France. Also not included are several high-profile billionaires who were born in Africa but migrated elsewhere. That includes Ivan Glasenberg, Clive Calder and most notable of all, the world’s richest person, Elon Musk.
Forbe’s net worths were calculated using stock prices and currency exchange rates from the close of business on March 1, 2026.
Credit: Forbes