Nigeria’s Abdulsamad Rabiu Overtakes Johann Rupert to Become Africa’s Second-Richest Billionaire

Mintesinot Niggusie

Abdulsamad Rabiu has moved ahead of South Africa’s Johann Rupert to become Africa’s second-richest individual after a strong rise in his fortune this year, according to the Bloomberg Billionaires Index.

The Nigerian billionaire’s net worth increased to 19.0 billion US dollars, lifting him to 138th position globally and reflecting a year-to-date gain of 8.88 billion US dollars.

His wealth had been estimated at about 15.9 billion US dollars just weeks earlier, highlighting the rapid pace of the increase recorded in recent months.

Growth in Rabiu’s fortune has been supported by BUA Foods, where earnings after tax rose 14 percent in the first quarter of 2026, contributing to stronger valuations across his listed holdings.

Johann Rupert’s net worth declined over the same period to 17.7 billion US dollars, a drop of about 1.75 billion US dollars, which pushed him down to 160th place globally.

The latest figures place Rabiu behind Aliko Dangote, who remains Africa’s richest individual, while confirming a reshuffle within the continent’s top tier of wealth holders.

Data from the Bloomberg Billionaires Index shows Rabiu as the strongest-performing African billionaire so far this year, driven by gains across his industrial and consumer businesses.