Africa entered 2026 with a small but increasingly concentrated billionaire class, according to new data from UBS, reflecting how global wealth creation continues to favour a handful of large economies on the continent.
- Africa’s billionaire class experienced notable shifts in 2026, with significant wealth concentration evident in Nigeria, South Africa, and Egypt.
- Across the Middle East and Africa region, billionaire numbers rose from 72 to 91 between 2024 and 2025, indicating a growing concentration of wealth.
- Notable African billionaires include Aliko Dangote, Johann Rupert, and Nassef Sawiris, representing influential sectors like mining, manufacturing, and finance.
- Africa’s billionaire wealth grew by 36.5%, surpassing the global average, amid economic challenges like inflation and public spending pressures.
The UBS figures show that Nigeria, South Africa, and Egypt remain Africa’s most prominent billionaire hubs, even as the Middle East drives most of the growth within the wider Middle East and Africa (MEA) region.
Across MEA, the number of billionaires rose from 72 in 2024 to 91 in 2025, while total billionaire wealth expanded by 34% to $454.5 billion.
Nigeria retained four billionaires at the start of 2026, unchanged from the previous year, but their combined wealth surged sharply.
Of course, figures such as Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga, and Femi Otedola are among the most prominent names in Nigeria’s industrial and business landscape, as well as in the country’s billionaire circle.
Nigerian billionaire wealth rose from $26.7 billion in 2024 to $37.3 billion in 2025, representing a 39.7% increase, one of the fastest growth rates in the region.
UBS data shows that 75% of Nigeria’s billionaires are self-made, underscoring the dominance of entrepreneurship over inheritance in Africa’s largest economy.
South Africa also recorded a modest increase in billionaire numbers, rising from six to seven in 2025. Total wealth held by South African billionaires climbed from $29.4 billion to $36.0 billion, a 22.4% increase.
Similarly, names such as Johann Rupert, Nicky Oppenheimer, Koos Bekker, and Patrice Motsepe dominate South Africa’s corporate and billionaire landscape, with deep influence across mining, luxury goods, telecommunications, and investment.
With 71% of its billionaires classified as self-made, South Africa continues to reflect a diversified base of wealth creation spanning mining, finance, retail, and technology-linked sectors.
Egypt’s billionaire population remained unchanged at four, but wealth grew by nearly 14% to $17.2 billion. In Egypt, business heavyweights including Nassef Sawiris, Naguib Sawiris, Mohamed Mansour, and Yasseen Mansour stand out as some of the country’s most influential industrialists and members of its billionaire class, with interests spanning construction, telecoms, manufacturing, and logistics.
Half of Egypt’s billionaires are self-made, highlighting a more balanced mix of inherited and entrepreneur-driven wealth compared to Nigeria and South Africa.
Africa’s richest hold outsized wealth
Africa’s billionaire map at the start of 2026 highlights a sharp widening in wealth inequality, with Aliko Dangote, Johann Rupert, Nicky Oppenheimer, and Nassef Sawiris now holding more wealth than half of the continent’s population combined, according to Oxfam analysis cited in this report.
The data shows that billionaire wealth in Africa grew by 36.5% over the past year, more than double the global average, even as many African economies grappled with inflation, rising debt, and pressure on public spending.
Globally, billionaire wealth rose by just over 16% in 2025 to $18.3 trillion, but Africa stood out for the scale of wealth concentration among a small group of individuals.
Nigeria, South Africa, and Egypt feature prominently in the continent’s billionaire geography, reflecting how wealth accumulation remains anchored in a handful of economies. Despite rising valuations among established elites, Africa continues to lag other regions in creating new billionaires.
The contrast is most visible in the Middle East, where Saudi Arabia’s billionaire count surged in 2025. UBS data shows Africa’s wealth story remains one of deepening concentration rather than broad expansion, reinforcing concerns that inequality will persist as the continent moves into 2026.
