Masiyiwa and Motsepe out of the 10 richest Africa billionaires list

#5 Abdul Samad Rabiu

Net worth: US$7 billion

Nationality: Nigerian

Abdul Samad Rabiu is a leading Nigerian billionaire industrialist and one of the few African billionaires who recorded wealth gains in excess of US$1 billion this thanks to his well-diversified industrial assets portfolio.

In the first half of 2022, Rabiu’s net worth increased by US$1.6 billion from US$5.4 billion to US$7 billion. This comes on the heels of listing his food business on the Nigerian Exchange in January — a move that saw his net worth surge to more than US$7 billion.

#6 Nassef Sawiris

Net worth: US$6.85 billion

Nationality: Egyptian

Egypt’s richest man, Nassef Sawiris, is one of the few billionaires who made impressive gains in their well-diversified investment portfolio during the first half of 2022, a period marked by economic disruptions and sanctions, geopolitical disruptions, and macroeconomic issues.

Sawiris’ net worth increased by US$350 million in the first half of 2022, from US$6.5 billion to US$6.85 billion, as the market value of his stake in OCI N.V., a global manufacturer and distributor of nitrogen products, increased, offsetting losses from his stake in leading sportswear manufacturer, Adidas.

#7 Mike Adenuga

Net worth: US$6.1 billion

Nationality: Nigerian

Mike Adenuga, the founder of Nigerian multinational telecommunications company Globacom Limited, saw his net worth plummet by millions of dollars in the first half of the year due to the revaluation of his stake in Globacom, one of Nigeria’s leading telecom services providers.

According to data obtained by Billionaires.Africa, his net worth dropped by US$600 million during the first half of 2022, from US$6.7 billion to US$6.1 billion.

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