In this article, we take a look at the 5 Richest People in Africa. If you want to read our detailed analysis of the African economy in general and the outlook on African billionaires in 2021 and beyond, go to the 15 Richest People in Africa.
5) Mike Adenuga (Nigeria)
Net worth: $6.1 billion (2021)
Age: 67
Mike Adenuga’s main source of wealth is his company Globacom, which is the second-largest telecom services provider in Nigeria, serving over 43 million subscribers. In addition, he also owns stakes in Conoil and Equitorial Trust Bank. All these ventures have enabled him to become the second richest person in Nigeria. During his studies at Pace University in the United States, Adenuga used to drive a taxi to support himself. During the early years of his career, Adenuga started several hustles doing petty businesses such as selling laces and distribution of soft drinks.
4) Johann Rupert (South Africa)
Net worth: $7.3 billion (2021)
Age: 70
Johann Rupert’s primary source of wealth is Compagnie Financiere Richemont, which owns various luxury brands from clothing to wristwatches like Cartier and Montblanc, includes fashion labels Azzedine Alaïa, Chloé, and Dunhill. Johann Rupert is the current chairman of Compagnie Financiere Richemont and holds majority stakes in it.
3) Nicky Oppenheimer (South Africa)
Net worth: $8 billion (2021)
Age: 75
Nicky Oppenheimer comes from a wealthy family which has been shaping the business landscape across South Africa. Oppenheimer’s family has been involved in the diamond mining business for more than three generations. Nicky’s grandfather, Ernest Oppenheimer, was the founder of Anglo-American Plc (LON: AAL), the world’s largest producer of platinum. Nicky Oppenheimer was the chairman of DeBeers, a diamond mining and trading company which is owned by Anglo-Americans (85%) and the Government of Botswana (15%). Nicky Oppenheimer is also the richest person in South Africa.
2) Nassef Sawiris (Egypt)
Net worth: $8.12 billion (2021)
Age: 59
Like his brothers Naguib and Samih, Nassef is also one of the wealthiest people in Africa. He is the youngest among the three brothers and heads Orascom Constructions, formed after the Orascom group was split into multiple companies. His 6% stakes in Adidas AG (ETR: ADS) is his most valuable asset. The NSWE group, which is jointly owned by Nassef and American investor Wes Edens, bought the English football club Aston Villa.
1) Aliko Dangote (Nigeria)
Net worth: $11.3 billion (2021)
Age: 63
Aliko Dangote is the richest man in Africa and has many titles to his name. He is also called the undisputed cement king of Africa. With his bold, crazy, and ambitious $12 billion Dangote oil refinery project in Lagos, Aliko Dangote is expected to make a dent in the African oil market. Once completed, the Dangote oil refinery would be the largest in the world producing more than 650,000 BPD. In addition, the refinery will also include a urea manufacturing plant with a capacity of 3 million metric tons per year. Dangote also made his fortune by investing in stocks of publicly-traded salt and sugar manufacturing companies.
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