Aliko Dangote, Africa’s richest man, Femi Otedola, chairman of First HoldCo, and four other Nigerians, have been named among the World’s Black Billionaires for 2025 by Forbes Magazine.
Newsonspot gathered that in its annual World’s Billionaires list released recently, Forbes said out of 3,028 billionaires around the world, only 23 are Blacks.
“Twenty-three of them are Black – just 0.8% of the list – but they’re a wealthy and impressive bunch,” the report said.
“Overall, these 23 have amassed $96.2 billion in wealth, mainly from the finance, energy, and technology sectors.”
Forbes said out of the 23 billionaires, only six of them are Nigerians.
Here is a list of the Nigerian billionairesy in order of Forbes’ ranking.
Aliko Dangote: Our refinery has 500m litres of PMS to end scarcity – but retailers aren’t buying
Aliko Dangote | $23.9 billion
Based on the magazine’s ranking, Dangote, chairman of Dangote Group, topped the list with a net worth of $23.9 billion.
Forbes said the billionaire’s fortune skyrocketed after the Dangote refinery finally began operating in early 2024, boosting businessman’s fortune by $10.5 billion since last year’s list.
Mike Adenuga – $6.8 billion net worth
With $6.8 billion net worth, Forbes said Mike Adenuga, the owner of Globacom, a telecommunications firm, is the second Nigerian, ranking fifth on the list.
Abdulsamad Rabiu – $5.1 billion net worth
Abdulsamad Rabiu, founder of BUA Group, is ranked sixth on the publication’s world Black billionaires list. With $5.1 billion net worth, the billionaire is the third Nigerian on the list.
Adebayo Ogunlesi | $12.5 billion in cash and shares
Another Nigerian on the list is Adebayo Ogunlesi, the chief executive officer (CEO) of Global Infrastructure Partners (GIP), holding a net worth of $2.2 billion.
Forbes said Ogunlesi is the 11th Black billionaire in the world. In October 2024, the entrepreneur sold GIP sold to BlackRock for $12.5 billion in cash and shares.
Femi Otedola | $1.5 billion
Following closely in the 12th position, Otedola, chairman of Geregu, boast of a net worth of $1.5 billion.
Forbes said the billionaire “made his first fortune in commodities before selling his shares in Forte Oil to invest in the energy business”.
“Today, he is the chairman and majority owner of Geregu Power, a power generation business whose other investors include the Nigerian government and the State Grid Corporation of China,” the magazine said.
Tope Awotona | $1.4 billion
The last Nigerian on the World’s Black Billionaires 2025 list is Tope Awotona.
Forbes said Awotona, in 2013, founded Calendly, a scheduling software startup, which private investors valued at $3 billion in 2021.
The media company said Awotona, ranking 14th on the list, has a net worth of $1.4 billion.
