Nigerian billionaires Aliko Dangote and Abdul Samad Rabiu, both from Kano State, have emerged among Africa’s richest individuals, according to the latest Bloomberg Billionaires Index ranking seen by Daily Trust.
The Bloomberg ranking, which is updated daily to reflect real-time movements in global wealth, showed Dangote retaining his position as Africa’s richest man with a net worth of $34.9 billion, while Rabiu climbed to become Africa’s third-richest billionaire with an estimated fortune of $18.5 billion.
South African luxury goods magnate Johann Rupert ranked as Africa’s second-richest person with a net worth of $18.9 billion.
The latest ranking placed Dangote 67th globally, Rupert 144th, and Rabiu 152nd on the global wealth index.
Dangote, founder and president of the Dangote Group, built his fortune through investments in cement, sugar, flour and petroleum refining. Over the years, the businessman has remained Africa’s wealthiest individual, driven largely by the dominance of Dangote Group in several industrial sectors across the continent. His wealth reportedly rose by about $4.38 billion this year.
Rabiu, founder and chairman of BUA Group, has also expanded aggressively in cement production, food processing, sugar refining and manufacturing. The Kano-born businessman recorded one of the biggest wealth gains globally in 2026, with his fortune increasing by about $8.47 billion year-to-date.
The Bloomberg data showed Rabiu’s wealth had recently been estimated at about $15.9 billion before rising sharply to $18.5 billion within months, underscoring the rapid growth of his industrial empire.
According to the index, Rabiu emerged as one of Africa’s strongest-performing billionaires this year, largely driven by gains in the cement, food and manufacturing businesses under the BUA Group umbrella.
The report also noted that no other Nigerian billionaire featured among the world’s top 500 richest individuals in the latest ranking.
Other prominent African businessmen, including Mike Adenuga and Femi Otedola, were absent from the current global top 500 wealth list.
Globally, the Bloomberg Billionaires Index continued to be dominated by American technology and investment billionaires, with Elon Musk leading the ranking at $673 billion. Others in the global top tier include Larry Page, Sergey Brin, Jeff Bezos, Larry Ellison, Mark Zuckerberg and Bernard Arnault.
