Aliko Dangote, the Nigerian business magnate, has once again secured the top spot on Forbes' list of African billionaires, with a net worth of $23.9 billion, a 72% increase from last year. This significant surge in his wealth solidifies his position as a key player in Africa's economic development.

Dangote's vast empire, which spans industries such as petroleum, cement, sugar, and more, continues to amass significant wealth, thanks to strategic investments and industrial expansion. His $20 billion refinery, which began operations last year on the outskirts of Lagos, has played a significant role in his wealth surge.

According to the Forbes 2025 African billionaire ranking, the combined fortunes of the 22 billionaires from the continent rose to a total of $105 billion, up from $82.4 billion and 20 billionaires last year. South Africa leads the pack with seven billionaires, while Nigeria and Egypt each boast four. Morocco follows closely with three billionaires, and Tanzania, Algeria, and Zimbabwe each have one.

The 2025 list highlights Africa's shifting wealth landscape, with notable winners and losers. Johann Rupert, a South African billionaire, experienced significant growth, with his wealth rising 39% to $14 billion, driven by his luxury goods empire. Femi Otedola, a Nigerian billionaire, saw his net worth increase by over 30% to $1.5 billion, fueled by the strong performance of shares in Geregu Power Plc.

However, not all African billionaires enjoyed financial gains in 2025. Abdulsamad Rabiu, a Nigerian billionaire, saw his net worth decline to $5.1 billion, largely due to the devaluation of the Nigerian naira. Strive Masiyiwa, a Zimbabwean billionaire, faced a sharp drop in wealth, with his fortune shrinking by 33% to $1.2 billion, following Zimbabwe's decision to scrap its local currency and introduce the gold-backed ZiG.

Two African billionaires, Anas Sefrioui and Jannie Mouton, have returned to the Forbes list after previously falling off. Sefrioui's return is due to a surge in shares of his real estate firm Douja Promotion Groupe Addoha, while Mouton's return follows a 59% jump in the share price of Capitec Bank Holdings.

The Forbes 2025 African billionaire ranking provides a snapshot of the continent's wealth landscape, highlighting the successes and challenges faced by its richest individuals. As Africa continues to navigate its economic development, the ranking serves as a reminder of the significant role that entrepreneurs and business leaders play in shaping the continent's future.

For more information on the Forbes 2025 African billionaire ranking, including the full list of billionaires and their net worth, visit the Forbes website.