BREAKING: Dangote, Adenuga, Rabiu, Otedola Named in Forbes’ 2025 Africa Billionaires List

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 UK citizen; and South African Nathan Kirsh, who operates out of London and has his business in the US and UK

“Net worths were calculated using stock prices and currency exchange rates from the close of business on March 7, 2025.”