With a wealth assessed by Forbes of $14.9 billion in 2022, the Nigerian-born Aliko Dangote is the richest person in Africa. The 65-year-old made his fortune primarily in the cement and sugar industries. The billionaire is the founder of Dangote Cement, Africa’s largest cement producer. His net worth surpasses all others on the Africa rich list by a considerable margin, with Nicky Oppenheimer and his family in second place with $8.6 billion.

South Africa’s Oppenheimer made the bulk of his money in the diamond mining industry. Having inherited the family business, De Beers, Oppenheimer sold their remaining 40 percent stake to Anglo American for $5.1 billion in 2011. Mining doesn’t get another mention in the top-8 of this list, though cement and sugar have not just been a recipe for riches for the aforementioned Dangote. With an estimated worth of $6.7 billion, Abdulsamad Rabiu of Nigeria also made his fortune via these avenues. According to Forbes, Rabiu inherited land from his father and initially set up his own business in 1988 importing iron, steel, and chemicals.

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