How Africa’s billionaires became richer in 2021 – Report

18 billionaires now have a combined net worth of US$84.9 billion, Forbes

Dangote Cement estimated at US$13.9 billion, Report

COVID-19 pandemic disrupts global supply chains, businesses

Africa’s billionaires became richer in 2021, despite the adverse impact of the COVID-19 pandemic on businesses and global supply chains, a new Forbes report has shown.

According to Forbes, some 18 billionaires in Africa now have a combined net worth of US$84.9 billion. This represents a 15 percent increase from 12 months ago.

Forbes' latest report touching on Africa’s billionaires tracked the wealth of these persons who either reside on the continent or have their businesses within it.

Leading the pack, for the 11th year in the row, is Aliko Dangote who maintained the top spot as Africa’s wealthiest man with a worth now estimated at US$13.9 billion due to a 30 percent increase in the stock price of his most valuable asset, Dangote Cement.

In second place is South Africa’s Johann Rupert who is known for his Fashion and Retail business. Rupert’s net worth according to Forbes latest report is estimated at US$11.0 billion.

“A more than 60% surge in the share price of his Compagnie Financiere Richemont–maker of Cartier watches and Montblanc pens–pushed his [Johann Rupert] fortune to US$11 billion, up from US$7.2 billion a year ago, making him the biggest dollar gainer on the list,” the report explained.

Also in third place is another South African, Nicky Oppenheimer who was previously the owner of popular diamond mining firm, DeBeers. Oppenheimer is a key figure in the metals and mining industry with an estimated net worth of US$8.7 billion.

This article was re-written with additional materials from Forbes.com

See the full list below as published by Forbes.com on January 25, 2022:


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