African billionaires get richer in 2018, Aliko Dangote tops with $12.2 billion

The few billionaires in Africa have a combined wealth of $75.4 billion in 2018, according to Forbes’ estimates which project a rise from last year’s $70 billion.

The 2018 Forbes list of Africa’s billionaires named 23 people, up from 21 last year, who have become wealthier due to rising stock markets and commodity prices.

On top of the list, is Africa’s richest man Aliko Dangote who has been in that spot for the seventh year in a row despite slumping in the past three years. His net worth is pegged at $12.2 billion, up a $100 million from last year.

The cement and commodities tycoon has invested in a fertilizer production company and a large oil refinery which will start operations later this year.

Last year, Dangote was ranked 105th in the real-time billionaires ranking.

The second richest in Africa is South African diamond magnate Nicky Oppenheimer who has a net worth of $7.7 billion, up $700 million from last year.

He is one of 8 South Africans on the list, making the southern nation the African country with the most billionaires.

The two newcomers to the list are Michiel Le Roux who founded Johannesburg-listed Capitec Bank Holdings. With over 50% rise in stock last year, Le Roux became a new billionaire worth $1.2 billion.

He is followed by South African mining tycoon Desmond Sacco who is the chairman of listed Assore Group. This is his first return to the list since 2012 with $1.1 billion.

Below is the full list of billionaires in Africa and their net worth:

Aliko Dangote – $12.2 B

Nicky Oppenheimer – $7.7 B

Johann Rupert – $7.2 B

Nassef Sawiris – $6.8 B

Mike Adenuga – $5.3 B

Issad Rebrab – $4 B

Naguib Sawiris – $4 B

Koos Bekker – $2.8 B

Isabel dos Santos – $2.7 B

Mohamed Mansour – $2.7 B

Patrice Motsepe – $2.4 B

Aziz Akhannouch – $2.2 B

Yasseen Mansour – $1.9 B

Strive Masiyiwa – $1.7 B

Folorunsho Alakija – $1.6 B

Othman Benjelloun – $1.6 B

Mohammed Dewji – $1.5 B

Youssef Mansour – $1.4 B

Michiel Le Roux – $1.2 B

Stephen Saad – $1.2 B

Desmond Sacco – $1.1 B

Onsi Sawiris – $1.1 B

Christoffel Wiese – $1.1 B