Nigerian billionaire Rabiu Abdulsamad has climbed to 5th place in the latest Africa billionaire ranking.

Data obtained from Forbes billionaire index showed that Abdulsamad as at Sunday, August 17, has a net worth of $7.4 billion.

This is higher than Mike Adenuga $6.3 billion net worth.

African billionaire ranking

Abdulsamad Rabiu, founder of BUA Group, has seen his fortune grow since the start of the year, driven by strong stock market performance and rising valuations of his cement and food businesses.

According to Forbes, Abdulsamad has added more than $2 billion to his wealth after beginning the year with $5.1 billion.

His new wealth has lifted him from third place to become the second-richest man in Africa.

Aliko Dangote wealth

Aliko Dangote remains the richest man in Africa with a net worth of $24.9 billion, having gained over $1 billion after starting the year with $23 billion

Johann Rupert & family follow in second place with a fortune of $12.8 billion as of August 17, representing a loss of $2 billion compared to the $14 billion they were worth at the start of the year.

Another South African, Nicky Oppenheimer & family, sit in third place with $10.4 billion, further cementing South Africa’s strong presence among Africa’s wealthiest.

Egypt’s Nassef Sawiris ranks fourth with $9.6 billion, although his net worth has dropped by $400 million compared to the $10 billion he held at the start of the year.

Snapshot of the richest men in Africa

Aliko Dangote: $24.9 billion
Johann Rupert & family: $12 billion
Nicky Oppenheimer & family: $10.5 billion
Nassef Sawiris: $9 billion
Abdulsamad Rabiu: $7.4 billion
Mike Adenuga: $6.3 billion
Naguib Sawiris: $5 billion
Koos Bekker: $3.8 billion
Mohamed Mansour: $3.4 billion
Patrice Motsepe: $3.4 billion

The 10 richest men in the world

Elon Musk: $413.8 billion
Larry Ellison: $294.6 billion
Mark Zuckerberg: $270.7 billion
Jeff Bezos: $243.7 billion
Larry Page: $171.4 billion
Sergey Brin: $159.5 billion
Jensen Huang: $157.0 billion
Steve Ballmer: $156.5 billion
Bernard Arnault & family: $146.7 billion
Warren Buffett: $142.8 billion