Africa's billionaires have reached a new milestone, with their combined net worth surpassing $100 billion for the first time, according to Forbes. This significant achievement marks a notable increase from last year's total of $82.4 billion, with 22 billionaires from the continent making the list.

Aliko Dangote, Africa's richest man, has retained his top spot on Forbes' list of African billionaires for the 14th consecutive year, with his net worth rising to an estimated $23.9 billion from $13.9 billion last year. South Africa's Johann Rupert, the second richest person on the continent, also experienced significant growth, with his wealth rising 39% to $14 billion, driven by his luxury goods empire.

The growth of African billionaires' net worth is a remarkable achievement, especially considering the challenges faced by the continent, including political unpredictability, economic crises, and difficult consumer markets. According to Forbes, creating this kind of wealth in such an environment is no small accomplishment. MSCI reports that the growth of the richest African economies is comparable to that of the global equity markets, which increased 22% in the 12 months ending February 2025.

The list of African billionaires is dominated by South Africa, with seven individuals making the cut, followed by four from Nigeria and four from Egypt. The list also includes three Moroccan millionaires, one Algerian (Isaad Rebrab), one Tanzanian (Mohammed Dewiji), and one Zimbabwean (Masiyiwa). Femi Otedola of Nigeria, the head of the publicly traded power production company Geregu Power Plc, saw his wealth increase by more than 30%, following a spike in sales and earnings, with Geregu's stock rising by around 40% during the previous 12 months.

Not all billionaires experienced growth, however. Strive Masiyiwa, a Zimbabwean telecommunications magnate, saw his net worth decline by about 33% from the 2024 list, going down to $1.2 billion. Despite this, the overall trend suggests that African billionaires are individually and collectively richer than they have ever been.

The growth of African billionaires' net worth has significant implications for the continent's economy and development. As these individuals continue to create wealth and invest in various sectors, they are likely to drive economic growth, create jobs, and improve living standards. This, in turn, could lead to increased economic stability and reduced poverty rates across the continent.

As the African billionaire community continues to grow and thrive, it will be interesting to see how they leverage their wealth and influence to drive positive change and development on the continent. With their combined net worth now exceeding $100 billion, the potential for impact is significant, and their role in shaping Africa's economic future cannot be overstated.