Top 5 Billionaires in Africa 2024: Who’s Leading?

This year has been full of changes for Africa’s billionaires, showing just how quickly fortunes can rise and fall in the continent’s unpredictable economy.

From sudden shifts in the market to big business deals, the wealth of Africa’s richest people has been in constant flux, leading to frequent changes in the rankings.

One of the most notable changes is the battle for the title of Africa’s richest person between Nigeria’s Aliko Dangote and South Africa’s Johann Rupert.

Recently, Johann Rupert has taken over as the continent’s richest man, a position that Dangote held for much of the year.

This back-and-forth is particularly interesting. Johann Rupert started in 2024 as Africa’s richest person, but Dangote overtook him just a month later.

However, since February, Rupert has regained the top spot and remains Africa’s wealthiest man.

In addition to this, there are other significant changes among Africa’s billionaires. Notably, Nigeria’s Femi Otedola has rejoined the billionaire’s club after a six-year absence.

Africa’s economy is always quick to respond to various factors that affect the continent, and this year has been no different.

Factors like changes in commodity prices, currency values, conflicts, political instability, and new market trends have all influenced the rise or fall of wealth among Africa’s richest people.

As of August 2024, here are the top five richest people in Africa, according to Bloomberg’s real-time billionaire index:

Top 5 Billionaires in Africa (August 2024):

These rankings show how quickly wealth can change in Africa, where fortunes can rise and fall in response to the continent’s ever-changing economic conditions.