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African Vibes Magazine’s 2018 African Billionaires List

African Billionaires

When it comes to African Billionaires, there are some usual suspects that make the list every year. Unfortunately, 2018 closed on a very bumpy note in the equities market and for many billionaires, this among other things resulted in some considerable loses in fortunes and some billionaires dropping off the list altogether.

The list dropped by 7 from 31 African billionaires to 24. A few billionaires still managed to grow their fortunes. Most Notably Nigeria’s Mike Adenugu who grew his fortunate the most with a 3.2 billion increase over his 2017 fortune.

Isabel Dos Santos remained Africa’s richest woman, Mohammed Dewji is still Africa’s youngest billionaire, and South Africa’s Elon Musk maintained the number one spot as the richest African on the list.

African Countries represented on the Billionaire list

By the end of 2018, South Africa had dropped 5 billionaires from the previous year. They closed with 6 billionaires, same as Egypt which dropped 2 billionaires from its 2017 list.

Nigeria maintained its 3 billionaires while last year’s newcomer from Zimbabwe still held his own. The other countries represented are Angola, Algeria, Ethiopia, Sudan, Swaziland and Zimbabwe with their first Billionaire.

African Billionaire Age Distribution

There are 3 billionaires in their forties, 5 in their fifties, 7 in their sixties, 6 in their seventies and 3 in their eighties. Africa’s youngest Billionaire is still Mohammed Dewji from Tanzania at Age 42.


The African Billionaires list is a snapshot of wealth taken on January 1, 2019. 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 are married couples who built fortunes and businesses together.

It was an interesting year for African billionaires as some fortunes shrunk and others grew. So let’s look at who is left on the list and how they did in spite of the rough year-end.

2018 African Billionaire’s List

PictureAfrica RankForbes RankNameNet WorthAge Wealth SourceHometown/
elon-musk_100x1001#35Elon Musk$21.9 B47Tesla MotorsSouth Africa / United States
aliko-dangote_100x100 (1)2#125Aliko Dangote$10.5 B61Self Made, cement, sugar, flourNigeria
mike-adenuga_100x1003#149Mike Adenuga$8.7B65Telecom, OilNigeria
nicky-oppenheimer_100x1004#180Nicky Oppenheimer$7.6 B73DiamondsSouth Africa
patrick-soon-shiong_100x1005#217Patrick Soon-Shiong$6.6 B66PharmaceuticalsSouth Africa / United States
nassef-sawiris_100x1006#240Nassef Sawiris$6 B57
Construction, Chemicals
johann-rupert_100x1007#316Johann Rupert$5.2 B68Luxury goodsSouth Africa
nathan-kirsh_100x1008#413Nathan Kirsh
$4.4 B
86Retail, Real estateSwaziland
issad-rebrab_100x1009#519Issad Rebrab
$3.8 B
naguib-sawiris_100x10010#572Naguib Sawiris
$3.5 B
haim-saban_100x10011#758Haim Saban$2.8 B73TV network, InvestmentsEgypt / United States
Strive Masiyiwa12#955Strive Masiyiwa$2.3 B58TelecomZimbabwe
koos-bekker_100x10013#958Koos Bekker$2.3 B66Media, InvestmentsSouth Africa
mohamed-mansour_100x10014#964Mohamed Mansour$2.3 B70DiversifiedEgypt
isabel-dos-santos_100x10015#1033Isabel dos Santos$2.2 B45InvestmentsAngola
aziz-akhannouch_100x10016#1107Aziz Akhannouch$2 B58Petroleum, DiversifiedMorocco
patrice-motsepe_100x10017#1110Patrice Motsepe$2 B56MiningSouth Africa
othman-benjelloun_100x10018#1317Othman Benjelloun$1.7 B86Banking, InsuranceMorocco
folorunsho-alakija_100x10019#1387Folorunsho Alakija$1.6 B68OilNigeria
mohamed-al-fayed_100x10020#1405Mohamed Al Fayed$1.6 B89Retail, InvestmentsEgypt
mohammed-dewji_100x10021#1441Mohammed Dewji$1.5 B43DiversifiedTanzania
yasseen-mansour_100x10022#1463Yasseen Mansour$1.5 B57DiversifiedEgypt
mohammed-ibrahim_100x10023#1783Mohammed Ibrahim$1.2 B72CommunicationsSudan / United Kingdom
youssef-mansour_100x10024#1786Mohammed Ibrahim$1.2 B73Self Made, diversifiedEgypt

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