According to the Forbes list
, the fortune of the continent's 18 billionaires is estimated at $84.9 billion, which, despite the ongoing COVID-19 pandemic, is 15% more than a year ago. This is the most since 2014, when 28 African billionaires had a combined fortune of $96.5 billion.
Aliko Dangote from Nigeria, whose fortune is estimated at $13.9 billion, remains Africa's richest man for the 11th consecutive year. Dangote increased his fortune after Dangote Cement's stock price went up, helped by the housing construction boom and increased Nigerian government spending on public infrastructure projects.
South African luxury goods maker Johan Rupert moved up to No. 2, up from No. 4 last year. The increase in the value of his company Compagnie Financiere Richemont, maker of Cartier timepieces and jewelry and Montblanc pens, raised his fortune to $11 billion by more than 60%.
South African Nicky Oppenheimer, who previously ran the diamond mining company DeBeers, but sold it to mining company Anglo American in 2011, ranks third with a net worth of $8.7 billion.
Strive Massive from Zimbabwe has the biggest increase in percentage terms - 125%, his fortune is estimated at $2.7 billion. Shares in the telecommunications company he founded, Econet Wireless Zimbabwe, rose more than 750% in the past year, contributing to his fortune.
The 18 African billionaires, none of whom are new to this ranking, represent seven different countries. South Africa and Egypt each have 5 billionaires, Nigeria has 3, and Morocco has 2. All of the continent's billionaires are men. The last woman who appeared on the list, Isabel dos Santos of Angola, who also has Russian citizenship, dropped out of the Forbes list in January 2021.
The oldest African billionaire is 89-year-old Moroccan Osman Benjelloun, the founder and chairman of FinanceCom, a major Moroccan industrial and financial holding company. The youngest is 46-year-old Mohammed Diuji of Tanzania, CEO of the textile and food conglomerate METL.