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By Goli Innocent
Nigeria’s foremost industrialist has retained his position as Africa’s richest man, topping the 2026 billionaires ranking released by Forbes.
According to the latest list published on Monday, Dangote’s net worth rose to $28.5bn, further cementing his dominance as the wealthiest individual on the continent. His fortune grew by about $4.6bn over the past year, largely driven by the strong performance of .
Forbes said Africa’s 23 billionaires now have a combined wealth of $126.7bn, representing a 21 per cent increase from 2025. In total, the continent’s richest individuals added about $20.3bn to their fortunes within the period, buoyed by rising equity markets and stabilising regional currencies.
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Nigeria maintained a strong presence on the list with three other business leaders, and also ranking among Africa’s wealthiest individuals.
Rabiu recorded one of the most remarkable gains on the continent, with his net worth rising by 120 per cent to $11.2bn, moving him up to third place on the list. The growth followed a surge in shares of , which outperformed the broader Nigerian stock market.
South African luxury goods magnate ranked second with an estimated fortune of $16.1bn, maintaining his long-standing position among the continent’s top three richest individuals.
Despite the strong overall performance, Forbes noted that not all billionaires recorded gains during the year. Otedola’s wealth slipped slightly to $1.3bn, although he returned to the ranking after selling a significant portion of his stake in .
