Africa’s wealth inequality has increased even more, with Aliko Dangote and three other African billionaires now holding more wealth than half of the continent’s population combined, according to a new report by global anti-poverty organisation Oxfam.
The Richest Men in Africa
| Name | Networth | Country | Business |
| Aliko Dangote | $23.9 B | Nigeria | Manufacturing |
| Johann Rupert & family | $14 B | South Africa | Fashion & Retail |
| Nicky Oppenheimer & family | $10.4 B | South Africa | Metals & Mining |
| Nassef Sawiris | $9.6 B | Egypt | Construction |
Just four of Africa’s richest billionaires hold $57.4 billion, which is more than the combined wealth of 750 million of the poorest people on the continent. 
Dangote, Africa’s richest man, has seen his net worth reach approximately $24.8 billion, intensifying concerns regarding extreme wealth concentration.
The report, released as political leaders and top business executives convene for the World Economic Forum in Davos, shows that billionaire wealth in Africa grew by 36.5 per cent in just one year, more than twice the global average—while the economic conditions for millions of Africans are worse than they’ve ever been.
While globally more people became billionaires, Oxfam said billionaire wealth rose by over 16 per cent in 2025 to a record $18.3trn globally.
In contrast, in Africa there was a far steeper concentration of wealth at the top. So the billionaires got richer, and fewer people became billionaires. This is to be expected, as African countries are dealing with inflation, lack of basic amenities and corrupt leaders causing rising debt burdens.
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The Rich Get Richer and the Poor Get Poorer
What brings about this massive wealth inequality? Well, while small and medium-sized enterprises face heavy taxation, more profitable companies frequently benefit from incentives, waivers, and loopholes that considerably diminish their tax responsibilities.
Oxfam’s report titled “Resisting the Rule of the Rich: Protecting Freedom from Billionaire Power” asserts that the increase in billionaire wealth is a result of political influence and an imbalanced regulatory and tax environment that predominantly advantages the ultra-wealthy.
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