Nigerian billionaire Abdulsamad Rabiu has overtaken South Africa's Johann Rupert and family to become the second richest person in Africa, according to the latest Forbes real-time billionaires ranking. Rabiu, founder of BUA Group, now holds a net worth of $16.1 billion as of May 19, 2026, following a daily increase of $15.4 million.
Rabiu's Rise in Africa's Billionaire Rankings
Rabiu, whose wealth comes from cement and sugar manufacturing under BUA Group, has surpassed Rupert, whose fortune is tied to luxury goods. Rupert, who held the second spot for nearly a decade, now ranks third with $15.6 billion, despite a daily gain of $19.6 million. Aliko Dangote remains Africa's richest man with $32.3 billion, despite a daily decrease of $519.1 million.
Other African Billionaires
Nicky Oppenheimer and family, with interests in diamonds, are valued at $10.6 billion. Egyptian tycoon Nassef Sawiris has a net worth of $9.5 billion after a $36 million daily increase. Other notable billionaires include Naguib Sawiris ($5.6 billion, telecoms), Mohamed Mansour ($4 billion, diversified investments), and Nigeria's Mike Adenuga ($6.6 billion, telecom and oil).
List of Africa's Richest Men
- Aliko Dangote: $32.3 billion (Nigeria)
- Abdulsamad Rabiu: $16.1 billion (Nigeria)
- Johann Rupert & family: $15.6 billion (South Africa)
- Nicky Oppenheimer & family: $10.6 billion (South Africa)
- Nassef Sawiris: $9.5 billion (Egypt)
- Mike Adenuga: $6.6 billion (Nigeria)
- Naguib Sawiris: $5.6 billion (Egypt)
- Mohamed Mansour: $4 billion (Egypt)
In related news, Elon Musk became the first person to reach a net worth of $500 billion, driven by gains in Tesla, SpaceX, and xAI. Oracle's Larry Ellison trails by $150 billion.
