African Billionaire Fortunes Soar To Record Levels
April 7, 2025
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5:10Now PlayingAfrican Billionaire Fortunes Soar To Record Levels
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as posted by the channelIt was a banner year for Africa’s billionaires, whose cumulative wealth surpassed $100 billion for the first time ever. Africa’s 22 billionaires saw their fortunes rise to a total of $105 billion, up from $82.4 billion and 20 billionaires last year.
It’s no small feat to generate this level of wealth on the continent, where political uncertainty, currency crises and challenging consumer markets are routine. Last May, Zimbabwe ditched the country’s Zimbabwe dollar in favor of the ZiG, a gold-backed currency aimed at curbing the nation’s hyperinflation problem. Still, the growth for Africa’s wealthiest is in line with global equity markets, which rose 22% in the 12 months ended February 2025, according to MSCI.
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