Africa’s richest individuals have widened their combined wealth lead over billionaire Arabs in the Middle East, with the continent’s 24 billionaires worth an estimated $168.2 billion as of September 2026, compared with $111.8 billion held by 26 Arab billionaires from Saudi Arabia, the United Arab Emirates, Lebanon and Qatar.
According to africa.businessinsider.com, the figures put Africa’s billionaire wealth about $56.4 billion higher, with Nigerian industrialist Aliko Dangote among the key figures shaping the continent’s position in the latest wealth rankings.
According to a Business Insider Africa calculation based on Forbes’ September 2026 real-time billionaire estimates, Africa leads the Middle Eastern Arab group by about $56.4 billion, making its combined billionaire wealth roughly 50% higher.
The gap has widened sharply since March, when Forbes published its 2026 annual Africa billionaires ranking based on valuations from earlier in the year.
At the time, the list featured 23 billionaires worth a combined $126.7 billion. Including Nathan Kirsh, who was left out despite his Eswatini citizenship and residence, brings the comparable African total to 24 billionaires worth about $135.8 billion.
By comparison, billionaires from Saudi Arabia, the United Arab Emirates, Lebanon and Qatar were worth about $105.3 billion, giving Africa a lead of roughly $30.5 billion in March.
Six months later, that lead has nearly doubled to $56.4 billion, driven by much faster growth in the combined fortunes of Africa’s billionaires.
Industry powers Africa’s wealth gains
Much of Africa’s billionaire wealth is tied to industrial businesses, commodities and consumer sectors, including oil refining, cement, luxury goods, mining, telecommunications, fertiliser and food manufacturing.
The biggest boost, however, has come from Nigerian industrialist Aliko Dangote, whose fortune has surged alongside the rising valuation of his refinery business.
Forbes valued Dangote at $28.5 billion in March. By September 16, his net worth had climbed to about $51.3 billion following a new valuation of his privately controlled Dangote Refinery.
That nearly $23 billion increase means Dangote now accounts for more than a third of the combined wealth of Africa’s 24 billionaires.
Eswatini billionaire and South Africa-born Nathan Kirsh has also contributed significantly to the rise. His fortune more than doubled from $9.1 billion in March to about $19.2 billion by mid-September.
Other major African fortunes include South Africa’s Johann Rupert and family, whose wealth is tied largely to luxury goods, and Nigeria’s Abdulsamad Rabiu, whose businesses span cement, sugar and manufacturing.
Nicky Oppenheimer and family built their fortune through diamonds, while Egypt’s Nassef Sawiris has interests in construction, fertiliser and investments.
Dangote’s sharp rise has also created a striking regional comparison. At $51.3 billion, he is now worth more than the Middle East’s two richest Arab billionaires combined.
Property and investments dominate Middle East fortunes
The Middle East has also recorded gains, although at a slower pace, with property, investments, healthcare, banking and diversified family businesses dominating many of its largest fortunes.
Saudi Arabia’s Prince Alwaleed bin Talal, worth about $24.8 billion, holds investments across technology, hospitality, property and financial assets.
UAE property billionaire Hussain Sajwani follows with about $15.3 billion, with much of his fortune linked to Dubai-based luxury property developer DAMAC.
Together, Alwaleed and Sajwani are worth about $40.1 billion, roughly $11.2 billion less than Dangote alone.
Saudi healthcare billionaire Sulaiman Al Habib is worth about $10.2 billion, while the UAE’s Abdulla bin Ahmad Al Ghurair and family hold about $5.6 billion through banking and other diversified businesses.
Qatar’s Hamad bin Jassim bin Jaber Al Thani is worth roughly $5.4 billion, with his fortune largely linked to investments and financial assets.
Overall, Africa’s combined billionaire wealth has risen by about $32.4 billion since March, compared with an increase of about $6.5 billion for the Middle Eastern group.
The faster growth has widened Africa’s lead from about $30.5 billion in March to $56.4 billion in September, as Middle Eastern fortunes faced pressures linked to regional conflict while several African billionaires benefited from gains in industry, commodities and private-company valuations.
