Changes in the net worth of Africa's 10 richest men since January

Changes in the net worth of Africa’s 10 richest men since January ©provided by Business Insider Africa

Due to a variety of market dynamics and economic reasons, the wealthiest people in Africa have seen considerable swings in their net worth during the year. There have also been additions to the list as is the case with Nigeria’s billionaire Femi Otedola who recently became a billionaire again. The top 10 changes in these well-known people’s fortunes since January are worth examining.

・Business Insider Africa presents the changes in the net worth of Africa’s 10 richest men since January.

・The figures are based on the Forbes Billionaire Index.

・There hasn’t been any jaw-dropping growth or drop-offs with the top 10 billionaires.

These changes in the net worth of Africa’s wealthiest individuals highlight the dynamic nature of wealth creation on the continent.

Impacted by a variety of variables such as economic policy, market circumstances, and global trends, these billionaires have had to adapt to both external and domestic market forces.

However, the drop-off and additions have not been significant enough to raise any alarms, but some are truly note worthy. Like Issad Rebrab & Family losing half of their net worth and dropping off the top 10 list, or Dangote gaining $4 billion since the start of the year.

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Also, the year began with Johann Rupert being Africa’s wealthiest man, since then Dangote has retaken the position.

Most African billionaires are still operating in the same stratosphere they did at the beginning of the year, with the likes of Dangote expecting major growth with the inauguration of his oil refinery.

With that said, here are the changes in the net worth of African billionaires from the start of the year to the end of Q1 of 2024. This list is according to the Forbes Billionaire Index.