Forbes has released its 2025 Billionaires List, featuring 2,781 billionaires worldwide. Among them, only 21 are Black, making up less than 1% of the global billionaire population. Notably, six Nigerians made it onto the prestigious list, reaffirming Nigeria’s dominance in wealth creation on the African continent.
The Six Nigerian Billionaires on Forbes’ 2025 List
1. Aliko Dangote ($23.9 billion) – Africa’s richest man and the founder of Dangote Group, with vast interests in cement, sugar, and petroleum refining. Dangote has held the title of Africa’s richest person for 14 consecutive years.
2. Mike Adenuga ($6.8 billion) – Chairman of Globacom, Nigeria’s second-largest telecommunications company, and a major investor in the oil and gas sector.
3. Abdulsamad Rabiu ($4.7 billion) – Founder and CEO of BUA Group, a leading conglomerate in cement production, sugar refining, and infrastructure.
4. Femi Otedola ($1.7 billion) – A major player in the energy sector, Otedola holds a 78.64% stake in Geregu Power Plc and a 13.16% stake in First Bank of Nigeria Holdings. His net worth recently increased by $100 million due to the naira's appreciation.
5. Adebayo Ogunlesi ($2.3 billion) – Chairman of Global Infrastructure Partners (GIP), an investment firm specializing in infrastructure, including airports and power plants. His net worth surged by $600 million after his appointment to OpenAI's board, with investments in BlackRock, Kosmos Energy, Topgolf Callaway, and Goldman Sachs.
6. Tope Awotona ($1.4 billion) – The founder and CEO of Calendly, a scheduling software company valued at over $3 billion. Awotona has built Calendly into one of the most successful SaaS (Software as a Service) platforms in the world.
The Underrepresentation of Black Billionaires
Despite Black people making up a significant portion of the global population, they remain severely underrepresented among billionaires. With only 21 Black billionaires out of 2,781, wealth inequality remains a pressing issue.
Nigeria’s Role in Wealth Creation
Nigeria’s strong presence on the billionaire list is a testament to its entrepreneurial spirit, economic resilience, and growing private sector. With billionaires spanning industries such as telecommunications, oil, infrastructure, and technology, Nigeria continues to shape Africa’s economic future.
However, the nation still faces economic challenges, including currency fluctuations, inflation, and business hurdles. For more Nigerians to join the billionaires’ club, policies that support business growth, ease of doing business, and wealth distribution must be strengthened.
Conclusion
With six out of the 21 Black billionaires being Nigerians, the country remains a powerhouse of wealth creation in Africa. However, the low representation of Black billionaires calls for more inclusive economic opportunities.
What are your thoughts on Nigeria’s billionaires? Is wealth distribution fair, or is there more to be done? Share your views in the comments!
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