It’s hard to get money for most people in Africa. But, these 20 billionaires have managed to get it. They have a nickname, money. The top 20 billionaires in Africa have a joint wealth of $82 billion. This is $900 million more than last year..

The majority of this increase according to forbes was the return of Otedola at the 16th position. He last appeared in forbes list in 2017 when he owned the controlling stake in Forte Oil. He phased out most of his oil investment to get a controlling stake in Geregu, a public power plant. This followed the Nigerian government’s push to privatise the power sector. His current 73% stake in Geregu is worth above $850 million making the bulk of his $1.3 billion net worth.

Aliko Dangote is the president of Dangote Cement. He kept his title as the richest man in Africa in this year’s Forbes report. Dangote’s networth declined at the end of 2023. It left him at $9.5 billion and in second place behind South Africa’s Johann Rupert & family. He regained his spot in early the year. His oil investments and the bullish Dangote cement stocks helped.

The biggest decline this year was from Algerias industrial Magnate Issad Rebrab. In 2020, his company barred him from performing any management or commercial duties. He spent about 8 months in prison and still refuses that he committed any crime. His son Malik took over his CEO duties. Since then, his net worth has dropped by about 2.5 billion. The biggest increase in the past year came from Egypt’s Nasseff Sawiris. He added about 1.4 billion to his net worth thanks to a rise in Adidas shares. He owns about 6% of the shares. He also got dividends from the German sneaker conglomerate OCI.

As expected, most of Africa’s billionaires got most of their income from many sources, not one. They also got income from shares in various businesses. Most of these businesses are broader than those in their own countries.

This year, South Africa had the most billionaires, at 6. Egypt had 5, and Nigeria had 4. Tanzania, Zimbabwe, and Algeria had 1. Morocco had 2.

The below has the full list of the top  20 billionaires in Africa from Forbes. Based on Forbes Live Billionaire data on 30th January 2024, we compiled the list.