African billionaires have significantly increased their wealth gap with their Arab counterparts in the Middle East. As of September 2026, the wealth of 24 African billionaires has reached approximately $168.2 billion, which is $56.4 billion more than the estimated wealth of 26 Arab billionaires from Saudi Arabia, the United Arab Emirates, Lebanon, and Qatar.
The Key Role of Dangote in Increasing Africa's Wealth
This report, based on Forbes evaluations, shows that the wealth gap between African billionaires and the Arab group has increased by about 50 percent. This gap is widening as the wealth of Aliko Dangote, the Nigerian industrialist, has significantly risen. Dangote's net worth increased from $28.5 billion in March to approximately $51.3 billion on September 16. This increase of about $23 billion has made him one of the wealthiest individuals in Africa.
Dangote now constitutes more than one-third of the total wealth of African billionaires. Other major African billionaires include Nathan Kirsh from Eswatini, Johann Rupert from South Africa, and Abdul Samad Rabiu from Nigeria, who have built their fortunes through various industries including luxury goods, cement, and food production.
Status of Arab Billionaires' Wealth
In comparison, the wealth of Arab billionaires has increased at a slower pace. Despite the economic strength of this region, particularly in real estate, investment, and financial services, the total wealth of Arab billionaires has reached approximately $111.8 billion. Among them, Saudi Arabia has experienced significant growth with billionaires like Alwaleed bin Talal and Hussain Sajwani. Alwaleed bin Talal's wealth is around $24.8 billion, while Hussain Sajwani's wealth stands at $15.3 billion.
Overall, the combined wealth of African billionaires has increased by about $32.4 billion since March, while the Middle Eastern group has only grown by $6.5 billion. This rapid increase in the wealth of African billionaires is particularly due to the exploitation of key industries and the rising valuations of their private companies.
