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Money Matters

African Vibes Magazine’s 2019 African Billionaires List



Another year has come and gone and it seemed like a good year for most African Billionaires. 17 of the 26 billionaires saw an increase in wealth. However, 7 did have a drop in their fortunes while two didn’t see much change at all. South Africa’s Elon Musk maintained the number one spot as the richest African on the list. Musk had the largest wealth jump of the year with an increase of over $6 billion. The most notable reduction was in Aliko Dangote’s wealth which dropped by over 1 billion. 

African Countries represented on the Billionaire list

Egypt and South Africa stayed toe to toe, leading the list with 7 billionaires each. Nigeria added a billionaire while Angola, Algeria, Sudan, Swaziland, and Zimbabwe each had one billionaire on the list.

African Billionaire Age Distribution

There are 3 billionaires in their forties, 6 in their fifties, 7 in their sixties, 7 in their seventies, 2 in their 80s and 1 who turned 90 last year. Africa’s youngest Billionaire is still Mohammed Dewji from Tanzania at Age 44. Isabel Dos Santos remained Africa’s richest woman and the second youngest African billionaire at age 46.


The African Billionaires list is a snapshot of wealth taken on January 1, 2020. It is based on the Forbes Real-time billionaire wealth calculator. The calculation is derived from stock prices and exchange rates from around the world used to calculate net worths. Some fortunes change from day to day due to fluctuations in the market.

The list is based on individuals rather than multigenerational families who share large fortunes, though included is wealth belonging to a billionaire’s spouse and children if the current list member is the founder of the fortune. In that case, you’ll see “& family” on the list. Also included, when relevant, are married couples who built fortunes and businesses together.

2019 African Billionaire’s List

PictureAfrica RankForbes RankNameNet WorthAgeWealth SourceHometown / Residence
1#36Elon Musk$27.5 B ▲48Tesla MotorsSouth Africa / United States
2#195Aliko Dangote$8.7 B ▼62Self Made, cement, sugar, flourNigeria
2#197Mike Adenuga$8.7 B -66Telecom, OilNigeria
3#227Nassef Sawiris$7.9 B ▲58Construction, ChemicalsEgypt
4#239Nicky Oppenheimer$7.7 B ▲74DiamondsSouth Africa
5#280Patrick Soon-Shiong$6.9 B ▲66PharmaceuticalsSouth Africa / United States
6#310Johann Rupert$6.5 B ▲69Luxury goodsSouth Africa
7#386Nathan Kirsh$4.9 B ▲87Retail, Real estateSwaziland
8#606Issad Rebrab$3.9 B ▲75FoodAlgeria
9#761Mohamed Mansour$3.3 B ▲71DiversifiedEgypt
10#833Naguib Sawiris$3 B ▼65TelecomEgypt
11#900Haim Saban$2.9 B ▲75TV network, InvestmentsEgypt / United States
12#991Patrice Motsepe$2.6 B ▲57MiningSouth Africa
13#1030Strive Masiyiwa$2.5 B ▲58TelecomZimbabwe
14#1047Koos Bekker$2.4 B ▲67Media, InvestmentsSouth Africa
15#1125Yasseen Mansour$2.3 B ▲58DiversifiedEgypt
16#1165Isabel dos Santos$2.2 B -46InvestmentsAngola
17#1331Mohammed Dewji$1.9 B ▲44DiversifiedTanzania
17#1376Youssef Mansour$1.9 B ▲74Self Made, diversifiedEgypt
18#1454Aziz Akhannouch$1.8 B ▼59Petroleum, DiversifiedMorocco
18#1456Othman Benjelloun$1.8 B ▲87Banking, InsuranceMorocco
19#1633Mohamed Al Fayed$1.5 B ▼90Retail, InvestmentsEgypt
19#1653Abdulsamad Rabiu$1.5 B ▼59cement, sugarNigeria
20#1845Michiel Le Roux$1.3 B ▲70bankingSouth Africa
21#2032Mohammed Ibrahim$1.1 B ▼73CommunicationsSudan / United Kingdom
21#2119Folorunsho Alakija$1.1 B ▼69OilNigeria
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