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IOL News
9 hours ago
- Business
- IOL News
Africa's billionaires: Who are the richest in 2025?
Africa's 22 billionaires saw their combined fortunes surge to a record $105 billion (R1.9 trillion) this year, up from $82.4bn held by 20 individuals last year, the Forbes 2025 Africa billionaires report showed. Here's the top five on the list Aliko Dangote - Nigerian industrialist Aliko Dangote is the founder and president/chief executive of the Dangote Group, the largest conglomerate in West Africa, which includes Dangote Cement, a subsidiary of the Dangote Group, is the largest cement producer in Africa. He remains Africa's wealthiest person for the 14th consecutive year. His net worth surged to an estimated $23.9 billion, driven significantly by Forbes now valuing his massive Dangote Refinery near Lagos. The refinery, operational after lengthy delays, is key to Nigeria's shift from fuel importer to exporter. Dangote, ranked among the world's top 100 richest, calls the project pivotal for Africa's self-sufficiency. Johann Rupert and family - South African luxury goods magnate Johann Rupert holds firm as Africa's second-richest billionaire. His fortune climbed 39% to $14 billion, largely reflecting the rebound in shares of Richemont, the luxury group he chairs and controls through family holdings. Richemont, owner of brands like Cartier, benefited from strong global demand for high-end jewellery and watches, cementing the Rupert family's dominant position in the sector.
Business Insider
17 hours ago
- Business
- Business Insider
Top 5 African billionaires with the highest net-worth change in 2025 so far
Midway through 2025, the fortunes of African billionaires have shifted in ways that reflect a great deal about the continent's economic orientation, global significance, and private sector innovation. Business Insider Africa presents the top 10 richest African billionaires mid-way into 2025. This list is courtesy of Forbes. Johann Rupert ranks number 1 on the list. While some African billionaires saw their portfolios increase by billions, others faced stagnation or declines. These variations are more than simply financial; they are dynamic indications of Africa's evolving commercial scene, which is fascinating for a variety of reasons. The considerable gains achieved by billionaires such as Nigeria's Aliko Dangote, whose net worth increased by over $10 billion in approximately a year following the operational launch of his oil refinery, demonstrate how industrial infrastructure is changing wealth throughout the continent. Similarly, high-net-worth individuals (HNWI) in Egypt and South Africa have seen their wealth transfer due to strong results in building, chemicals, luxury goods, and mining. These industries, albeit conventional, are demonstrating their ability to create remarkable value when combined with innovation and sound strategy. Some African countries still retain some of the world's most erratic economies, but they sometimes also offer several fiscal opportunities. The billionaires who flourish are those who can predict or adapt promptly to change. This volatility is what makes tracking these wealth transfers so fascinating; each change in net worth tells a story about risk, resilience, and reward. Behind the increases in net worth of Africa's HNWI are the result of careful planning, calculated risk-taking, timing, and, sometimes, chance. Unlike static lists of wealthy individuals, year-to-date swings make these billionaires feel like active players in an ongoing African economic narrative. From Dangote's gamble on self-sufficiency to Oppenheimer's diverse investment bets, these are dynamic tales worth following, not just for the money, but also for what they reveal about African ambition and promise. With that said, here are the African billionaires with the most dramatic change in fortune mid-way into the year, as per data from Bloomberg's Billionaire Index. Top 5 African billionaires with the highest net-worth change in mid-2025 Rank Name Current networth Net-worth at the start of the year Net-worth change 1. Johann Rupert $16.4 billion $13.7 billion +2.7 billion 2. Natie Kirsh $10.4 billion $9.33 billion +$1.07 billion 3. Nassef Sawiris $9.41 billion $8.69 billion +720 million 4. Nicky Oppenheimer $12.0 billion $11.5 billion +$500 million 5 Aliko Dangote $27.7 billion $28.1 billion -$400 million
IOL News
12-06-2025
- Politics
- IOL News
The DA's push for policing devolution: A potential dangerous precedent?
During raids in Hanover Park, suspects were searched for drugs and weapons. Image: Ayanda Ndamane / Independent Newspapers The Democratic Alliance (DA) has again ramped up its calls for the devolution of policing powers. This long-standing party stance has been thrust back into the spotlight after billionaire Johann Rupert raised concerns about the Cape Flats violence during a high-profile discussion at the White House. The party's push for the devolution of policing powers in the Western Cape has been going on for years, and in recent weeks has remained in the headlines, with the City of Cape Town's Mayco member for Safety and Security, JP Smith, and Portfolio Committee on Police chairperson, Ian Cameron, weighing in. Last week, the city's Safety and Security Portfolio Committee (PC) also endorsed a motion for the devolution of policing powers to the municipality, where the portfolio committee resolved to table the resolution at the forthcoming Council meeting. 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Advertisement Next Stay Close ✕ Ad Loading The PC is calling on the national government to: Devolve investigative powers to the city for crime categories such as gang-related violence, firearm offences, extortion, and drug trafficking. Devolve the power of crime intelligence to the city. Assign the function of forensic laboratory testing centres for firearms to the city. Support the city's continued participation in the Cooperation Agreement task team and endorse the establishment of a joint technical workstream comprising representatives from various stakeholders. Chairperson of the Safety and Security Portfolio Committee, Councillor Mzwakhe Nqavashe, said: 'Our communities are plagued by crime at all levels and it is clear that more is needed – from the South African Police Service and the city… SAPS does not have the manpower, and the city's uniformed staff do not have the power to undertake investigations. 'Mayor Geordin Hill-Lewis wrote to the National Police Commissioner to request a devolution of policing powers to metro police, and the city has not had any meaningful reply. We believe this devolution will enhance the ability and capability of the city to assist SAPS…' The current reality of life on the Cape Flats amid the high levels of violence remains bleak. The fifth issue of the Global Initiative Against Transnational Organised Crime's Western Cape Gang Monitor, an output bulletin tracking developments in Western Cape gang dynamics each quarter, has highlighted a number of issues, among them being poor security at courts. The report stressed that security measures failing in courts as 'according to several gang sources, firearms are often smuggled into court buildings. 'Many people have been threatened at court at gunpoint, it just doesn't make the newspapers, because when that person was threatened, they left court and were too scared to testify,' one gang member said.' Gang recruitment continues to drive child murder rates, as more than one child was murdered every day in the Western Cape over three months in 2024. 'This sobering statistic is indicative of a wider trend: more children than ever before are being recruited into gangs in the Western Cape… the rate of child recruitment appears to be accelerating, posing a huge challenge to affected families and communities, as well as to the criminal justice and juvenile detention systems,' the report highlights. Michael Jacobs of the Mitchell's Plain United Residents Association (MURA) said that every day in a suburb on the Cape Flats, a life is lost through gang and gun violence. 'These violent incidents sketch a picture of abnormality, fear, and the sheer brutality faced by ordinary residents on the streets. 'In 2019, with the introduction of the Western Cape Safety Plan and the introduction of LEAP, they boldly claimed that they would reduce the murder rate by 50%, which never materialised. 'They continue to fail to address the root causes of crime. Unemployment amongst young people remains high, the failure to deal with the huge housing backlog continues to allow our people to live in overcrowded backyards and growing informal settlements, a lack of adequate treatment facilities for substance abuse users, and a lack of political will to deal with the crime problem,' Jacobs said. 'That said, we need to acknowledge that all levels of government - national, provincial, and municipal - have failed our bullet-ridden and gang-infested communities on the Cape Flats, Atlantis, Paarl, and elsewhere where gangsterism thrives. 'No amount of political theatrics and political spin will take away the fear, blood on our streets, death and open coffins on the Cape Flats of Fear,' Jacobs said. Professor Isaac Khambule from the University of Johannesburg, who lectures on political economy, said that for the DA, the idea of pushing for devolution is that someone centralised the idea of an impetuous civic, but also about the idea of neoliberalism. 'The fact is they say it should be the private sector that is running all of these particular functions, as we've seen in the case of PRASA, because that's tried to bring in more private stakeholders. And we've seen the president giving in to some of these demands, such as bringing private players on by Transnet. 'So, at this particular moment, I think we just need to look at one avenue that says, 'yes, it is something that the DA has been pushing, but since they were swallowed by the GNU, they did not necessarily have space to push for the kind of reforms that they wanted'. 'But now, with the fallout that likely happened internationally, they are finding space and voice to say, 'this is what we've been indicating,'' Khambule said. 'Because now that they've been embarrassed on an international stage, they're going back to the drawing board and saying we forgot to push a particular agenda. So all the failures that we see are the failures of the national government, rather than the provincial government in the Western Cape.' The embarrassment Khambule referred to was the remarks made by Rupert, who was part of the high-powered delegation accompanying President Cyril Ramaphosa to meet US President Donald Trump in May. Rupert turned to DA leader John Steenhuisen and said: 'Mr Steenhuisen won't admit to it, but he runs the Western Cape where I live. The biggest murder rate is in the Cape Flats. Gangs. We've got gang warfare.' Khambule said that moment has contributed to the DA's reinvigorated fight for devolution. 'It was something that the DA was not expecting to be brought up on an international platform. And for them, again, it pushes the narrative that says you can't even govern or keep people safe in a particular, (so) why are you then wanting to speak up about part of this thing as an international landscape? And then it also brings another element in terms of why the DA has a particular renewed voice. 'It's basically the idea of saying, 'look, it is not our fault', because you may recall that for everyone who lives in the Western Cape, who often says the Western Cape is the best place in SA, it then begs the question why should I go into a particular environment where even the richest person in South Africa can call them out, which indicates they are not doing the work that they are supposed to do - keeping citizens safe.' The DA remains hungry for devolution, with Smith stating that the PC already passed a motion on June 4 to initiate an intergovernmental dispute. He also touted the city's emergency call centre, handing over 16,000 incidents to SAPS in the past 100 days alone, amid 'ongoing collapse of the national 10111 system'. 'We're stepping in where others are failing, and doing more to keep our residents safe.' Smith has also defended against critics, stating that they should focus on social interventions instead. He said those using this argument 'consistently ignore the wide range of social programmes the City is already implementing — and they never offer a single example of what interventions they believe would work better'. 'That's simply not good enough. Just like the current level of policing Cape Town receives is not good enough. And that's why we're doing this...'
The South African
09-06-2025
- Business
- The South African
How rich are South Africa's 7 richest men this week?
It's comparatively 'easy' to make money – when you have money to start with. Compound interest is indeed the eighth wonder of the world! As they say, the rich get richer, while the poor stay, well, poor. Money makes money – and these seven South African men have made a lot of it over the years. And by a lot, we mean a LOT ! According to Forbes' real-time tracking of billionaires, Johann Rupert and his family are the richest in South Africa, with a net worth of $14 billion. The Ruperts are followed by diamond magnate Nicky Oppenheimer, who boasts a net worth of $10.5 billion. They are followed by Koos Bekker, Patrice Motsepe, Michiel Le Roux, Jannie Mouton and Christo Wiese. South Africa's seven dollar billionaires all made their money in different ways – from luxury goods, diamonds, mining, media, banking and retail. In the last week alone, Bekker, Motsepe and Wiese all added $100 million (R1.77 billion) to their net worths. Rupert was the big 'loser' as his net worth dropped by $600 million (R10.6 billion). Cumulatively, South Africa's seven dollar billionaires are worth $37.4 billion (R663 billion). Meanwhile, in terms of the overall world list, South Africa-born Elon Musk remains the world's richest person with a reported $393.8 billion. Below, the list of the top seven richest South Africans in the world as of 9 June 2025. Rank Name Last week This week Source 179 Johann Rupert & family $14.6bn $14bn Luxury goods 270 Nicky Oppenheimer & family $10.5bn $10.5bn Diamonds 1 061 Koos Bekker $3.5bn $3.6bn Media, investments 1 147 Patrice Motsepe $3.2bn $3.3bn Mining 1 481 Michiel Le Roux $2.5bn $2.5bn Banking 2 023 Jannie Mouton & family $1.8bn $1.8bn Retail 2 112 Christo Wiese $1.6bn $1.7bn Financial services TOTAL $37.7bn $37.4bn Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Business Insider
03-06-2025
- Business
- Business Insider
Top 10 richest African billionaires mid-way into 2025
The net worth of African billionaires has, as expected, fluctuated all year round due to a combination of strategic moves, currency devaluations, and economic adjustments. Business Insider Africa presents the top 10 richest African billionaires mid-way into 2025. This list is courtesy of Forbes. Aliko Dangote ranks number 1 on the list. There have been major declines for certain magnates, while others have experienced significant advances. For context, Aliko Dangote, Nigeria's industrial giant, has seen a significant gain in fortune. Following the start-up of the Dangote Refinery in early 2024, his net worth increased to $23.9 billion by March 2025, up from $13.9 billion the previous year. This increase reaffirmed his status as Africa's richest individual. In a similar vein, Johann Rupert, South Africa's luxury goods entrepreneur, has also seen tremendous expansion. His net worth increased to $14 billion as a result of Compagnie Financière Richemont's good performance, which owns well-known brands like as Cartier and Montblanc. More accurately, however, is the fluctuation in the South African billionaire's fortune; for example, by April, the man had added a billion dollars to his net worth. His net worth rose dramatically from $13.7 billion at the start of the year to $15.3 billion in April, While a focus on the net-worth growth of Africa's richest individuals engenders entrepreneurial aspirations, it is also important to look at the net-worth decline of Africa's richest individuals and what brought about the dip. One key factor all year round has been the devaluation of local currencies, notably the Nigerian naira, which has significantly impacted the fortunes of the country's billionaires. Simply put, the net-worth fluctuations among African billionaires are not just a reflection of personal financial gain or loss; they serve as a mirror to the continent's broader economic, political, and industrial conditions. Additionally, fluctuations also underscore the importance of diversification. Billionaires whose wealth is spread across multiple sectors or countries tend to weather economic downturns more effectively. Changes in billionaires' net worth are more than simply news stories in Africa, where they can have a big impact on national economies. They are also signs of policy, investment, and economic activity. With that said, here are the richest Africans currently as per data from Forbes. Top 10 richest African billionaires mid-way into 2025 Rank Name Net worth mid-2025 Country Global rank Net worth at the start of 2025 1. Aliko Dangote $23.3 billion Nigeria 88th $11.5 billion 2. Johann Rupert & family $14.1 billion South Africa 171st $11.1 billion 3. Nicky Oppenheimer & family $10.4 billion South Africa 271st $9.5 billion 4. Nassef Sawiris $9.4 billion Egypt 324th $7.7 billion 5. Nathan Kirsh $7.7 billion Eswatini 422nd $7.3 billion 6. Mike Adenuga $6.2 billion Nigeria 571st $6.8 billion 7. Naguib Sawiris $5.0 billion Egypt 749th $3.8 billion 8. Abdulsamad Rabiu $4.9 billion Nigeria 763rd $4.9 billion 9. Koos Bekker $3.5 billion South Africa 1081st $2.9 billion 10. Patrice Motsepe $3.2 billion South Africa 1190th $2.7 billion
