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The richest man in Africa may be Aliko Dangote, but Nigeria does not have the most billionaires.
The Africa Wealth Report 2024 by Henley & Partners and New World Wealth reveals that 56% of Africa's millionaires and 90% of its billionaires resided in five countries in 2023: South Africa (7), Egypt (5), Nigeria (4), Kenya (3), and Morocco (2).
According to the Forbes Real Time Billionaire List, South Africa is the African country with the most billionaires, with seven billionaires.
Here are the billionaires in South Africa
Johann Rupert
Johann Rupert is the chairman of Compagnie Financière Richemont, a luxury goods company based in Switzerland.
The company's most well-known brands are Montblanc and Cartier. The business is worth $10.3 billion.
Nicky Oppenheimer
His net worth is $9.5 billion. In 2012, Nicky Oppenheimer, the heir to the De Beers diamond wealth, sold Anglo American, a mining conglomerate, 40% of the company for $5.1 billion in cash.
In 2014, he founded Fireblade Aviation in Johannesburg for chartered flights. He is the owner of 720 square miles of conservation land across South Africa, Botswana, Zimbabwe, and Mozambique.
Koos Bekker
The man has a net worth of $3B.
He is renowned for turning South African newspaper publisher Naspers into a major e-commerce investor and cable TV powerhouse.
He paid $34 million for a third of Chinese internet firm Tencent Holdings in 2001, and invested in MultiChoice Group and Prosus in 2019.
Patrice Motsepe
African Rainbow Minerals founder and chairman, Motsepe, became the first black African on the Forbes list in 2008 and launched African Rainbow Capital in 2016.
He also owns Sanlam and Mamelodi Sundowns Football Club. Motsepe was elected president of the Confederation of African Football in 2021.
Michiel Le Roux
Le Roux, founder of Capitec Bank, owns 11% of the company's shares, targeting South Africa's emerging middle class.
He served as chairman from 2007 to 2016 and continues to serve as a board member.
Christoffel Wiese
His most valuable asset is Shoprite. In 2022, he regained his nine-figure fortune by settling a dispute with Steinhoff for cash and stock, including a 5% stake in Pepkor.
Wiese also holds stakes in Collins Property Group, Brait, and Invicta Holdings. His net worth is $1.6 billion.
In conclusion, South Africa is the only African country with seven billionaires even though Seychelles is the richest country in Africa.