By Joshua Tosin Ogunsakin 
Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola have been named in the 2025 Forbes billionaires list, highlighting Africa’s wealthiest individuals. The list, published on Saturday, features only four Nigerians among the continent’s 22 billionaires.
According to Forbes, Africa’s billionaires saw their combined wealth rise to $105 billion, up from $82.4 billion in 2024, marking a significant increase driven by new valuations and market gains.
Topping the list is Aliko Dangote, owner of Dangote Petroleum Refinery, with a net worth of $23.9 billion, up from $13.9 billion in 2024. Forbes attributed the spike to the valuation of his refinery, which was included in calculating his net worth.
Following Dangote, Mike Adenuga, chairman of Globacom, ranks fifth in Africa with a net worth of $6.8 billion. Abdulsamad Rabiu, chairman of BUA Group, secures the sixth position with a fortune of $5.1 billion.
In a joint 16th position is Femi Otedola, chairman of First Bank of Nigeria (FBN) Holdings Plc, boasting a net worth of $1.5 billion.
Forbes noted that South Africa had the highest number of billionaires on the list, with seven, followed by Nigeria and Egypt with four each. Other countries represented include Morocco (3), Algeria (1), Tanzania (1), and Zimbabwe (1).
“Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there,” Forbes explained. “This excludes Sudanese-born billionaire Mo Ibrahim, a U.K. citizen, and South African Nathan Kirsh, who operates out of London.”
The net worth figures were calculated using stock prices and currency exchange rates as of March 7, 2025.