The landscape of wealth in Africa is diverse, encompassing both monarchs and entrepreneurs who have amassed significant fortunes. Rankings such as "Africa's Richest Kings" and "The Richest Africans," compiled and published by Forbes, offer insights into the distribution of wealth across the continent. These lists estimate the total net worth of individuals based on their assets and accounting for debt, providing a snapshot of the financial powerhouses in Africa.
Africa's Richest Kings
In March 2014, Forbes published a ranking of Africa's wealthiest monarchs. King Mohammed VI of Morocco topped the list with an estimated net worth of US$2 billion. Following him was Nigerian oil magnate King Fredrick Obateru Akinruntan, the Olugbo of the Ugbo Kingdom, with $300 million.
Other prominent monarchs on the list included King Okunade Sijuwade, Olubuse II, the Ooni of Ife, worth at least $150 million, and King Mswati III of Eswatini, with a net worth of at least $50 million. It is worth noting that King Okunade Sijuwade, Olubuse II, has since passed away.
Here's a summary of the top monarchs from the 2014 list:
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| Rank | Monarch | Country | Net Worth (USD) |
|---|---|---|---|
| 1 | King Mohammed VI | Morocco | $2 Billion |
| 2 | King Fredrick Obateru Akinruntan | Nigeria | $300 Million |
| 3 | King Okunade Sijuwade, Olubuse II | Nigeria | $150 Million |
| 4 | King Mswati III | Eswatini | $50 Million |
Africa's Billionaires
Forbes also publishes an annual ranking of the richest African people. In 2021 and 2025, Nigerian billionaire Aliko Dangote held the top spot as the richest person in Africa. However, as of December 2024, South African billionaire Johann Rupert was the wealthiest individual on the continent.
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The distribution of billionaires across African countries varies. As of December 2024, South Africa had the most billionaires (7), followed by Egypt (5), Nigeria (4), and Morocco (2).
Prince Al-Waleed bin Talal bin Abdulaziz al-Saud
Prince Al-Waleed bin Talal bin Abdulaziz al-Saud is a man who wears many hats. One of the richest men in the world, he has recently been accused of being one of the financiers behind the planned Islamic center in downtown Manhattan by Fox News -- which is owned by a company in which, ironically, he is also a major stakeholder. The Forbes March 2010 listing valued his wealth at $19.4 billion, ranking him as the 19th richest person in the world. The wealthiest he has been in the last 10 years was in 2005, when he was worth $23.7 billion, making him the fifth-richest person in the world that year.
Two-thirds of Al-Waleed's wealth is tied up in Kingdom Holding Company, an investment vehicle. In 2000, Forbes valued him at $20 billion; in 2010 it was $19.4 billion. His wealth has been up and down over the years, but mostly hovers around $20 billion. His investments are now spread across banks, hotels, real estate, media and industry.
Al-Waleed started off with $15,000, which was given to him by his father, and initially grew his wealth by representing South Korean construction companies. Al-Waleed likes to have his picture taken with heads of state or prime ministers. Last year, Al-Waleed's count of leaders he had met was 209, over 36 years.
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