Pulse logo
Pulse Region

African countries with the most billionaires in 2024

Africa's billionaire boom is a watershed moment in the continent's economic history, showcasing the potential for growth, wealth, and development.
Top 5 biggest recent losses in the net worth of African billionaires
Top 5 biggest recent losses in the net worth of African billionaires
  • Business Insider Africa presents the African countries with the most billionaires in 2024.
  • This list is courtesy of Forbes.
  • South Africa has the highest amount of billionaires.

In recent years, Africa has seen an increase in the number of billionaires, indicating the continent's expanding economic potential and opportunity.

In this regard, some countries boast more high net-worth individuals than others, countries that have become a hub for economic activities and innovation on the continent.

DON’T MISS THIS: Top 10 richest people in Africa at the start of 2024

Recommended For You

While not without its challenges, these countries continue to lay the blueprint for Africa’s path to thorough prosperity.

These billionaires also enhance Africa's reputation as an emerging economic powerhouse, attracting foreign investment, partnerships, and talent eager to capitalize on the continent's potential.

Other advantages of having a good number of high-net-worth individuals include the creation of jobs via their enterprises and the distribution of wealth via their philanthropic activities.

Additionally, billionaires frequently fund research and development, and startup ecosystems to spur technical advancement and increase competitiveness in the market.

With that said, here are the African countries with the highest number of billionaires, according to Forbes.

RankCountryNumber of billionairesBillionaires
1.South Africa6Johann Rupert and family, Nicky Oppenheimer & family, Patrice Motsepe, Koos Bekker, Michiel Le Roux, Christoffel Wiese
2.Egypt5Nassef Sawiris, Mohamed Mansour, Youssef Mansour, Yasseen Mansour, Naguib Sawiris,
3.Nigeria4Aliko Dangote, Mike Adenuga, Femi Otedola, Abdulsamad Rabiu
4.Morocco2Aziz Akhannouch & family, Othman Benjelloun & family

Algeria, Eswatini, Zimbabwe, and Tanzania all have 1 billionaire each.

Subscribe to receive daily news updates.