The African continent has produced many wealthy people; with over 28 known billionaires. According the Forbes’ November 2014 list of Africa’s 50 Richest people, Nigerian business magnate Aliko Dangote remains the richest person in Africa and the richest black man in the world.
Here’s the 50 richest people in Africa as of January 2015:
50) Gerrit Thomas Ferreira – $510 Million (South African)
Gerrit Thomas “GT” Ferreira is a self-made millionaire who co-founded Rand Consolidated Investing in 1977 along with Laurie Dippenaar and Paul Harris. After a series successful mergers and acquisitions, FirstRand came into existence in 1990. Today it is one of the largest financial services groups in Africa.
49) Jannie Mouton – $520 Million (South African)
The 67-year-old self-made millionaire is the founder of CEO of PSG Group, a listed investment holding company with interests in banking, financial services, agriculture, private equity and education.
48) Ahmed Ezz – $520 Million (Egyptian)
Egyptian Steel tycoon Ahmed Ezz served as chairman of ousted Egyptian president Hosni Mubarak’s political party. The self-made millionaire was forced to step down from his post as chairman of Ezz Steel.
47) Oba Otudeko – $550 Million (Nigerian)
Oba is the founder and chairman of Honeywell Group. The group’s operations stretch across flour milling, oil and gas, marine transportation and real estate. He also owns Radisson Blu in Lagos, Nigeria.
46) Naushad Merali – $550 Million (Kenyan)
Kenyan millionaire investor, Merali is the founder of the Sameer Group, a Kenyan conglomerate with interests in construction, agriculture, property, IT and finance.
45) Reginald Mengi – $560 Million (Tanzania)
This self-made media mogul heads one of the largest media conglomerates in Africa. His IPP Media Group owns 11 newspapers, radio stations, TV stations and internet properties.
44) Said Salim Bakhresa – $575 Million (Tanzanian)
The 65-year-old self-made millionaire is a Tanzanian businessman. He launched Azam TV, a pay TV service for East Africa. He dropped out of school when he was just 14 to sell potato mix and then opened a small restaurant and later moved into grain milling.
43) Ali Wakrim – $600 Million (Moroccan)
Ali Wakrim and family own Akwa Group along with Aziz Akhannouch and family. Wakrim is the chairman of the LPG distributor, which reported more than $400 million in revenue last year.
42) Strive Masiyiwa – $600 Million (Zimbabwean)
Strive Masiyiwa is the richest man in Zimbabwe. The self-made millionaire made his fortune through his stake in Econet Wireless Group. He is the founder of the group.
41) Hakeem Belo-Osagie – $600 Million (Nigerian)
Nigerian self-made millionaire Hakeem Belo-Osagie is the chairman of Etisalat, Nigeria. It is the country’s fourth largest mobile telecom network and has more than 18 million subscribers.
40) Moulay Hafid Elalamy – $620 Million (Moroccan)
This 54-year-old self-made millionaire is the head of Saham Group, which operates CNIA Saada, one of Morocco’s biggest insurance companies.
39) Tunde Folawiyo – $650 Million (Nigerian)
Nigerian businessman Tunde Folawiyo is the managing director of the Yinka Folawiyo Group, a conglomerate with interests in agriculture, energy, shipping, engineering and real estate.
38) Gus Attridge – $660 Million (South African)
The South African self-made millionaire is the deputy CEO of Aspen Pharmacare, the largest pharmaceutical manufacturer in Africa and world’s fifth largest generic drug maker.
37) Mohammed Indimi – $670 Million (Nigerian)
This 66-year-old self-made millionaire is the founder of Oriental Energy Resources, a privately held Nigerian oil exploration and production company.
36) Desmond Sacco – $680 Million (South African)
Desmond Sacco lost money due to steep decline in Assore Group’s stock price. This is due to drop in a price of iron ore. He is the chairman and managing director of the company.
35) Bhimji Depar Shah – $700 Million (Kenya)
Bhimji Depar Shah is the founder of Bidco Industries, which is one of the largest manufacturers of edible oil in Tanzania. The annual revenue of the company is more than $500 million.
33) Abdulsamad Rabiu – $700 Million (Nigerian)
The former billionaire runs BUA Group, a conglomerate active in flour milling, pasta manufacturing, sugar refining, and ports and terminals management.
33) Mohamed Bensalah – $700 Million (Morrocan)
This 44-year-old Moroccan millionaire heads Holmarcom Group, a family holding company founded by his late father. The group boosted its take in Atlanta in April by 30 percent, making the insurer its largest single holding.
32) Lauritz Dippenaar – $730 Million (South African)
Lauritz (Laurie) Dippenaar is a self-made millionaire who built a financial services empire over the past several decades. He co-founded Rank Consolidated Investing in 1977.
31) Mohammed Dewji – $800 Million (Tanzanian)
This 39-year-old Tanzanian millionaire is the youngest among Africa’s 50 richest for the second year. He owns 75 percent of METL Group, one of Tanzania’s largest industrial conglomerates.
30) Jim Ovia – $850 Million (Nigerian)
This 60-year-old self-made millionaire was appointed as chairman of Zenith Bank Group, a large Nigerian commercial bank that he founded more than two decades ago.
29) Femi Otedola – $900 Million (Nigerian)
Otedola heads petroleum marketing company Forte Oil. He has 75 percent stake in the company, which owns gas stations and fuel storage depots.
=26) Orji Uzor Kalu – $1 Billion (Nigerian)
Orji Uzor Kalu is a billionaire as of 2014. He is the founder of Slok Holding, a $2.5 billion West African conglomerate with interests in banking, shipping, manufacturing, oil trading and media.
=26) Tony Elumelu – $1 billion (Nigerian)
Nigerian-born self-made billionaire is one of Africa’s most revered business leaders. He made his fortune through a variety of investments, including a controlling interest in Transcorp.
=26) Rostam Azizi – $1 Billion (Tanzanian)
Rostam Azizi is the first billionaire from Tanzania. In May 2014, he sold a 17.2 percent stake in Vodacom Tanzania, the largest mobile phone operator in the nation.
=22) Anas Sefrioui – $1.1 Billion (Moroccan)
Anas Sefrioui is the head of publicly traded homebuilder Groupe Addoha. Moroccan government’s cutbacks have recently hurt his business.
=22) Samih Sawiris – $1.1 Billion (Egyptian)
Samih Sawiris is the youngest son of Egyptian construction magnate Onsi Sawiris. He is the head of Orascom Development, a company which builds and operates resorts in Egypt, Switzerland and Montenegro.
=22) Sudhir Ruparelia – $1.1 Billion (Ugandan)
The self-made billionaire is one of Uganda’s largest property owners. He owns more than 300 commercial and residential properties through his Ruparelia Group.
=22) Theophilus Danjuma – $1.1 Billion (Nigerian)
This 75-year-old billionaire is the founder and owner of South Atlantic Petroleum, a Nigerian upstream oil and gas exploration and production company.
21) Miloud Chaabi – $1.3 Billion (Moroccan)
Miloud Chaabi’s business Yanna Holding operates hotels and supermarkets, and develops real estate. It also owns SNEP, a chemical manufacturer in Morocco.
20) Aziz Akhannouch – $1.8 Billion (Moroccan)
Aziz Akhannouch is the majority shareholder of Akwa Group, a multibillion-dollar Moroccan conglomerate with interests in petroleum, gas and chemicals through its publicly traded subsidiaries.
19) Onsi Sawiris – $1.9 Billion (Egyptian)
This 84-year-old billionaire is the patriarch of Egypt’s richest family. He founded the Orascom Construction Industries. Currently his son Nassef heads the company.
18) Stephen Saad – $1.9 Billion (South African)
Stephen Saad is the founder of Aspen Pharmacare, the largest pharmaceutical company in Africa. His wealth increased by $400 million over the past year due to increase in the company’s stock price.
17) Koos Bekker – $2 Billion (South African)
Bekker stepped down as CEO of media conglomerate Naspers in February 2014, but that did not stop the stock from rising in double digits.
16) King Mohammed VI – $2.1 Billion (Moroccan)
The king of Morocco is the 7th richest royal in the world. He celebrated his 15th year on the throne in July 2014. He inherited around 40 percent stake in Societe Nationale d’Investissement from his father.
15) Patrice Motsepe – $2.3 Billion (South African)
Patrice Motsepe is a self-made billionaire who is the founder and chairman of African Rainbow Minerals. He is South Africa’s first and only black billionaire.
14) Yasseen Mansour – $2.3 Billion (Egyptian)
Yasseen and his billionaire brothers Mohammed and Youssef run Mansour Group. The Group owns caterpillar dealerships in many African nations.
13) Othman Benjelloun – $2.4 Billion (Moroccan)
This 82-year-old billionaire has interests in insurance, banking and telecom in Morocco through his holding company FinanceCom. He is the CEO of BMCE Bank.
12) Folorunsho Alakija – $2.5 Billion (Nigerian)
Folorunsho Alakija is the second richest woman in Africa and third richest black woman in the world. She controls Famfa Oil. She founded the Rose of Sharon Foundation in 2008. It works to help widows and orphans.
11) Youssef Mansour – $2.9 Billion (Egyptian)
The Egyptian billionaire maintains a lower profile than his billionaire brothers Mohamed and Yasseen. All the brothers have stake in Mansour Group.
10) Naguib Sawiris – $3.1 Billion (Egyptian)
Naguib Sawiris resumed as CEO at his company Orascom Telecom Media & Technology (OTMT) in October 2013. Share prices increased by more than 7 percent due to this.
9) Issad Rebrab – $3.2 Billion (Algerian)
Issad Rebrab is the founder of Cevital, Algeria’s largest privately held conglomerate, which owns one of the largest sugar refineries in the world.
8) Isabel dos Santos – $3.7 Billion (Angolan)
Africa’s richest woman, Isabel dos Santos is working to expand her stable of investments. She is the daughter of Angola’s longtime president Jose Eduardo dos Santos.
7) Mohamed Mansour – $4 billion (Egyptian)
Mohamed oversees the Mansour Group. He reported an increase in sales in the family’s GM car business, which had taken a dive due to the 2011 Egyptian revolution.
6) Mike Adenuga – $4.6 Billion (Nigerian)
The second richest man in Nigeria. Mike Adenuga made his fortune through investments in mobile telecom and oil production.
5) Christoffel Wiese – $5.4 Billion (South African)
South African self-made billionaire continues to chase deals; adding his fortune. The retailing tycoon announced plans to swap his minority stake in IT company DigiCore for a stake in ConvergeNet.
4) Nassef Sawiris – $6.1 Billion (Egyptian)
Nassef Sawiris is the wealthiest man in Egypt. The 53-year-old billionaire won a tax evasion case that had pitted him against the government of former Egyptian president Morsi.
3) Nicky Oppenheimer – $6.8 Billion (South African)
The Oppenheimer family ended its 85-year reign atop diamond giant De Beers in 2012, when Nicky Oppenheimer sold his 40 percent stake to Anglo American for $5.1 billion.
2) Johann Rupert – $7.3 Billion (South African)
Johann Rupert is a luxury goods billionaire. He is the chairman of Compagnie Financiere Richemont, a Swiss company best known for brands like Cartier and Montblanc. Rupert owns 7 percent stake in Remgro and 25 percent of Reinet. He worked for sometime at Chase Manhattan Bank. He has been a vocal opponent of fracking.
1) Aliko Dangote – $21.6 Billion (Nigerian)
The world’s richest black man. He is heralded by some as the face of the new Nigeria. He is the wealthiest man in Africa. He built his fortune through three commodities: sugar, cement, flour and he plans to invest in oil.