Forbes Releases 2026 Top Billionaires, 4 Nigerians Make Africa Ranking
- Nigerian billionaires have made the list of Africa’s wealthiest individuals for 2026
- Aliko Dangote remains on top with the highest net worth, followed by Abdulsamad Rabiu
- Mike Adenuga, and Femi Otedola complete the list for Nigeria while Elon Musk leads the world
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Africa’s 23 billionaires are now worth a combined $126.7 billion. This represents a 21% increase from 2025 after they collectively added $20.3 billion to their net worth over the past year.
Source: Getty Images
According to the latest 2026 ranking released by Forbes, four Nigerians made the list of billionaires: Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga, and Femi Otedola.
Across Africa, South Africa has the highest number of billionaires on the list with seven individuals, followed by Egypt with five, Nigeria with four, and Morocco with three.
The Forbes ranking also highlights the entrepreneurial nature of wealth creation in Africa, with 14 of the 23 billionaires classified as self-made.
Aliko Dangote ($28.5 billion)
Dangote retained his position as Africa’s richest man with an estimated net worth of $28.5 billion.
The Nigerian industrialist added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.
Dangote’s business empire also includes the massive Dangote Refinery, one of the largest oil refineries in the world.
The billionaire has indicated plans to list the refinery on the stock market later this year, a move expected to unlock additional value for investors.
Abdulsamad Rabiu ($11.1 billion)
Rabiu, founder of BUA Group, recorded one of the biggest increases in wealth among African billionaires.
His fortune surged 120%, or $6.1 billion, to $11.2 billion, making him the third-richest person in Africa, up from sixth position last year.
The increase in Rabiu’s net worth was largely driven by the strong performance of BUA Cement.
Shares of the company rose 135% over the past year, outperforming the broader rally in Nigeria’s stock market.
Mike Adenuga ($6.4 billion)
Adenuga also retained his place among Africa’s billionaires.
He built his fortune through investments in telecommunications and oil production.
His telecom company, Globacom, remains one of the largest mobile network operators in Nigeria.
The billionaire is also chairman of Conoil Producing and has diversified interests spanning telecoms, oil and gas, and banking.
Source: Getty Images
Femi Otedola ($1.2 billion)
Otedola, chairman of Geregu Power Plc, also appeared on the list despite a slight decline in his wealth.
Forbes estimates that the billionaire investor lost about $200 million after selling a majority stake in the power generation company at a discount to its market price.
Who are the top 10 richest people in the world?
- Elon Musk — $834.8 billion
- Larry Page — $246.6 billion
- Sergey Brin — $227.6 billion
- Jeff Bezos — $226.5 billion
- Mark Zuckerberg — $221.1 billion
- Larry Ellison — $197.4 billion
- Jensen Huang — $154 billion
- Bernard Arnault & family — $153.1 billion
- Warren Buffett — $147.5 billion
- Rob Walton & family — $142.2 billion
Meet Nigeria's richest stock market investors
Legit.ng earlier reported that Aliko Dangote, Abdul Samad Rabiu, and Tony Elumelu are among Nigeria’s richest investors on the Nigerian Exchange Limited (NGX).
The NGX has seen significant activity and wealth creation for its key investors in recent years.
UBA is often highlighted as a stock pick due to trading below its intrinsic value and potential for strong dividends.
Source: Legit.ng
