South Africa leads in headcount, with seven billionaires, more than other African countries.
Nigeria leads in wealth, with four billionaires worth $47.5 billion, $4.5 billion more than the combined $43 billion of South Africa's seven billionaires.
Nigeria's billionaires are richer individually, with an average net worth of $11.9 billion, compared with South Africa's $6.1 billion.
North Africa punches below its weight: Egypt, Morocco, and Algeria have ten billionaires combined but just $31.4 billion in total wealth.
East Africa barely registers: Tanzania and Zimbabwe each have just one billionaire, both worth $2.1 billion.
Abdulsamad Rabiu’s wealth has consistently increased for 4 consecutive years since 2020. Aliko Dangote, on the other hand, experienced 3 consecutive years of wealth growth starting from 2021. Mike Adenuga's wealth recorded growth in 2021 and 2022, but it took a downturn in 2023.
Abdulsamad Rabiu's financial journey has been particularly noteworthy, with his wealth witnessing a substantial surge from $1.2b in 2014 to $8.2b in 2023. This growth has seen him surpass Mike Adenuga and become the country's second-wealthiest individual as of 2023.
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