Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola have been named in Forbes’ 2025 billionaires list in Africa.
There are only four Nigerians named in the list published on
Saturday.
Forbes said Africa’s 22 billionaires saw their fortunes rise
to $105 billion from $82.4 billion that it was in 2024 for 20 billionaires.
According to Forbes, Dangote, the owner of Dangote Petroleum
Refinery, occupies the top spot in Africa with a net worth of $23.9 billion
from $13.9 billion in 2024.
The international magazine attributed the increase in
Dangote’s wealth to the valuation of his refinery, which was added to the
calculation of the net worth.
Adenuga, chairman of Globacom, a telecommunication company
in Nigeria, is in fifth position in Africa with a net worth of $6.8 billion.
With a $5.1 billion net worth, Rabiu, chairman of BUA Group,
is ranked sixth position in Africa.
In the joint 16th position is Otedola, chairman of the First
Bank of Nigeria (FBN) Holdings Plc, with $1.5 billion net worth.
“South Africa had the largest number of billionaires this
year, with seven, followed by four from Nigeria and four from Egypt,” Forbes
said.
“The list also includes three billionaires from Morocco, one
from Algeria (Isaad Rebrab), one from Tanzania (Mohammed Dewiji) and one
(Masiyiwa) from Zimbabwe.
“Our list tracks the wealth of African billionaires who
reside in Africa or have their primary business there, thus excluding
Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen; and South African
Nathan Kirsh, who operates out of London and has his business in the U.S. and
U.K.
“Net worths were calculated using stock prices and currency
exchange rates from the close of business on March 7, 2025.”
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