With everyone from Jacob Zuma to Cyril Ramaphosa and even King Mohammed VI, we look at the top 20 richest African presidents in 2024.
20 – Jacob Zuma – South Africa
Born on April 12th, 1942, in Nkandla, Jacob Zuma’s early life was marked by poverty, hardship, and a lack of formal education, which played a significant role in shaping his future political career.
Zuma had several siblings and they all shared the responsibilities of household chores with his school life mainly spent at home teaching himself.
Influenced by the stories and experiences of the elders in his community, many of whom were involved in anti-apartheid activities, Zuma’s political consciousness grew in the 1950’s.
Zuma has been a controversial figure both politically and financially and has suffered many allegations of financial impropriety.
He earned a significant income during his time in public office. As President of South Africa and he was entitled to a substantial salary and, upon leaving office, a presidential pension.
Zuma’s rural homestead in Nkandla, KwaZulu-Natal, became a symbol of his controversial wealth and the estate underwent extensive upgrades, allegedly costing around R246 million.
Funded by the state under “security upgrades,” this led to a major scandal, and the Constitutional Court eventually ordered Zuma to repay a portion of the funds.
The exact extent of his current wealth remains unclear, however he is thought to own other properties across the country and is said to have a substantial car collection.
He is also reported to own a large home in Dubai that sits next to that former president of Zimbabwae, Robert Mugabe, who passed away in 2019.
Zuma has been reported to be bankrupt, he also has an estimated net worth of $20 million, we’ll let you decide.
19 – Mahamat Déby – Chad
Often referred to as Mahamat Kaka, Déby was born on April 1, 1984, in Chad, his father was a prominent military leader who seized power in 1990 after leading a rebellion against the Chadian government.
Growing up in such a politically influential family, Déby was exposed to the complexities of governance and military leadership from an early age.
Déby received formal military education, which was a crucial aspect of his upbringing and attended the Military School of Aix-en-Provence in France.
He received training that prepared him for a career in the military with an education that provided him with a strong foundation in military strategy, leadership, and tactics.
As the head of the Transitional Military Council and the de facto leader of Chad, Mahamat Idriss Déby has considerable control over the country’s resources.
This includes influence over state contracts, natural resource revenues (especially oil), and other forms of state wealth and his net worth comes in at $50 million.
Oil revenues have been a significant source of wealth for the ruling elite and much of the country’s oil wealth was concentrated in the hands of a small group of people close to the president.
More recently, French prosecutors have launched an investigation into the embezzled public funds after the president spent over €900,000 euros on a shopping spree on luxury clothing from Paris.
18 – Yoweri Museveni
Being in power since 1986, the long-standing president of Uganda receives a substantial official salary that has varied over time and due to inflation.
Enjoying numerous perks associated with the presidency, Museveni has access to housing, travel, security, and other state-funded luxuries.
Museveni’s long tenure has given him significant control over Uganda’s national resources, including natural resources such as oil, land, and minerals.
Control over these resources has provided opportunities for wealth accumulation through various means, including the awarding of contracts, concessions, and other lucrative deals.
The Museveni family is believed to have interests in various businesses across Uganda and possibly abroad with a net worth of $50 million.
These include agriculture, real estate, and other sectors. However, detailed information about these investments is not readily available to the public.
Museveni and his family are reported to own substantial tracts of land in Uganda with land ownership is a significant source of wealth in Uganda.
There have been reports of the Museveni family acquiring land under controversial circumstances, sometimes involving disputes with local communities.
Museveni has often emphasized the importance of agriculture, and he and his family are believed to own several large farms with these agricultural ventures contribute to their wealth, both through the production of cash crops and livestock.
He has often stated that his wealth has come from hard work and not from state funds, with him even building several housing projects for local communities over the years.
17 – Muhammadu Buhari – Nigeria
Buhari is often described as a leader with a reputation for integrity and anti-corruption, which was a significant part of his political platform.
Upon assuming office in 2015, Buhari made a public declaration of his assets, which included modest farmlands and livestock, primarily cattle, sheep, and poultry.
He declared ownership of modest homes in his hometown, Daura, in Katsina State, and in Abuja, the capital city.
He owns a few vehicles, which were mostly described as old and in a state of disrepair, yet has a very modest net worth of close to $80 million.
Buhari’s family, particularly his children, have attracted attention for their lifestyles, which some Nigerians perceive as lavish.
Supporters argue that Buhari’s children are adults capable of earning their income, and their wealth should not be directly attributed to Buhari himself.
16 – King Mswati III – Swaziland
One of the wealthiest monarchs in Africa, his wealth has been a source of significant controversy, especially given the economic conditions in his country.
The King controls a substantial portion of the country’s resources. Eswatini has a unique system where the monarchy controls the national wealth.
The king owns Tibiyo TakaNgwane, a national trust fund that was established by the country’s royal family and is meant to benefit the nation.
He owns stakes in several significant businesses in Eswatini, including sugar production, real estate, and other sectors.
King Mswati III is also involved in various personal business ventures, both within and outside Eswatini.
These include interests in telecommunications, real estate, and energy sectors and his personal control over these investments adds to his wealth.
King Mswati III is known for his extravagant lifestyle. He reportedly owns a fleet of luxury cars, including Rolls-Royces and BMWs.
He has multiple palaces and often travels internationally, staying in some of the world’s most expensive hotels.
The King has 15 wives, and each of them has their own palace, with their maintenance and living expenses covered by the state.
His lavish lifestyle, in contrast to the poverty of his people, has been a significant source of controversy and criticism yet, at $100 million, his net worth has reached nine figures.
15 – Isaias Afwerki – Eritrea
President of Eritrea since its independence in 1993, Isaias Afwerki is a figure of significant political influence within the country.
Estimates of his wealth vary, but there are claims that he has accumulated significant assets through control of state resources equating to around $180 million.
Eritrea is known for its tightly controlled economy, and much of its wealth is concentrated among top officials.
He also earns from several business investments within the country, although many of these are not thought to be publicly listed.
14 – Alassane Ouattara – Ivory Coast
President of Côte d’Ivoire since 2011, Ouattara served as an economist at the International Monetary Fund and later as the Governor of the Central Bank of West African States.
Although his professional roles in these institutions contributed to his significant personal wealth, his policies in government have attracted major foreign investment.
Despite this success, there have been controversies and criticisms regarding wealth distribution and the concentration of resources among the political elite.
Absence of transparent data on his personal assets mean estimates of Alassane’s net worth remain speculative, yet we estimate a value close to $185 million.
13 – Abdel Fattah el-Sisi – Egypt
Coming in at number thirteen, is the President of Egypt, Abdel Fattah el-Sisi a key figure in the country’s political landscape following his role in the military coup that ousted President Mohamed Morsi.
Prior to his presidency, el-Sisi served as the Minister of Defense and held various senior military positions.
His transition from a military leader to a head of state has led to speculation about his personal net worth, though exact figures remain elusive.
Estimates of el-Sisi’s net worth vary widely, with some sources suggesting that he may have accumulated significant wealth through his military career and political connections.
Egypt’s financial disclosures and the concentration of economic power within the ruling elite make it extremely difficult to hammer down an exact figure.
El-Sisi’s presidency has seen substantial economic projects and investments aimed at boosting Egypt’s infrastructure and economy and his net worth is estimated at $185 million.
12 – Paul Biya – Cameroon
Biya has been at the helm of Cameroon since 1982 and has become extremely wealthy during his almost 40-year tenure.
As one of the continent’s most enduring political figures, Biya has accumulated substantial assets through his leadership role.
His wealth is believed to be derived from his positions in government and possibly from investments and business interests.
As head of state, he owns multiple businesses including timber, oil, banking, transport, and construction sectors.
Biya’s presidency has been marked by both development projects but also controversy, while he has overseen some economic growth and modernization in Cameroon.
Estimates have put Biya’s net worth at close to $200 million dollars.
11 – Nana Akufo-Addo – Ghana
Having a background in law and politics that has contributed to his prominence and major financial standing, Akufo-Addo has been President of Ghana since 2017.
Estimates of Akufo-Addo’s net worth suggest it could be in the range of $250 million.
This wealth is generally attributed to his successful legal practice, political career, and investments.
However, detailed and official disclosures about his personal finances are limited, making exact figures difficult to confirm.
During his presidency, Akufo-Addo has been involved in significant economic and infrastructure projects aimed at boosting Ghana’s development.
His administration has focused on economic reforms and attracting foreign investment.
10 – William Ruto – Kenya
Heading into the final top 10 and these African leaders net worths are really starting to take off.
Before his presidency, Ruto served as Deputy President from 2013 to 2022, and has been a significant figure in Kenyan politics for decades.
His wealth is largely attributed to his successful agricultural ventures, particularly in poultry farming, as well as his political career.
His financial standing is believed to be bolstered by investments in real estate, agriculture, and other business ventures.
Ruto’s financial growth has been a subject of public interest, particularly given the rapid expansion of his wealth in recent years.
Marked by a focus on economic reform and infrastructure development, his presidency has seen his wealth baloon too around $305 million.
He is also thought to own a number of large residential properties and farms.
9 – Patrice Talon – Benin
Another prominent figure whose net worth reflects his significant success in business and politics, Talon has been the President of Benin since 2016.
Before entering the political arena, Talon made his fortune in the cotton industry, where he established a successful business empire.
His wealth is largely attributed to his extensive investments in agriculture, particularly in cotton production, which remains a major economic sector in Benin.
His financial success is also linked to investments in other sectors, including logistics and real estate.
Talon’s rise to prominence involved both economic acumen and strategic political maneuvering, with his wealth significantly bolstering his influence in Benin.
President Talon has a net worth of close to $400 million.
8 – Cyril Ramaphosa – South Africa
One name that often makes our lists these days, Cyril Ramaphosa has a well-documented history of substantial wealth accrued through various business ventures and political roles.
Before becoming president, Ramaphosa was a prominent businessman, trade union leader, and anti-apartheid activist, which significantly contributed to his financial status.
He co-founded the Shanduka Group, a major investment holding company with interests in mining, banking, and energy, among other sectors.
Additionally, he has held various high-profile positions, including chairman of MTN, a leading telecommunications company, which further contributed to his financial success.
Estimates of his wealth across all spheres of business and politics put it somewhere in the region of $450 million dollars.
7 – Uhuru Kenyatta – Kenya
Former President of Kenya having served from 2013 to 2022, Kenyatta is one of the most influential figures in Kenyan politics.
Kenyatta’s wealth is primarily derived from his family’s extensive business interests.
The Kenyatta family owns a diverse portfolio of investments, including large tracts of land, agricultural enterprises, and stakes in various industries.
Among their holdings is the Brookside Dairy, a leading dairy company in Kenya, and significant real estate investments.
During his presidency, Kenyatta focused on economic development projects and infrastructure, including the Big Four Agenda, which aimed to enhance manufacturing, universal healthcare, affordable housing, and job creation.
His administration also saw efforts to tackle corruption and improve governance, though his tenure was marked by controversies and scrutiny regarding the transparency of his wealth and the effectiveness of his anti-corruption initiatives.
Kenyatta’s spending power is almost unlimited with a net worth of close to $500 million.
6 – Paul Kagame – Rwanda
President of Rwanda since 2000, Kagame is one of Africa’s most influential leaders, known for transforming Rwanda’s economy and governance after the 1994 genocide.
Questions about his personal wealth are often raised though details about his financial standing remain elusive due to the secretive nature of Rwandan politics.
Kagame’s wealth is believed to be linked to business interests held by his family in Rwanda’s key economic sectors, including real estate, telecommunications, and mining.
Kagame is primarily known for his role in stabilizing and modernizing Rwanda.
Under his leadership, Rwanda has achieved impressive economic growth, becoming one of Africa’s fastest-growing economies.
Kagame’s government is often praised for fostering innovation, attracting foreign investment, and reducing poverty.
Today, although a closely guarded secret, estimates put his wealth at around $500 million.
5 – Teodoro Mbasogo – Equatorial Guinea
Currently one of the longest-serving heads of state in the world, Mbasogo has been the President of Equatorial Guinea since 1979.
Equatorial Guinea’s vast oil reserves are thought to be one reason why Mbasogo’s wealth is often estimated at over a billion dollars, yet he is not currently thought to be a billionaire, yet.
One thing his government has done, is transform the country into one of the largest oil producers in Africa and the country’s oil industry has generated significant revenues.
Mbasogo and his family have been accused of using state funds for personal luxury, with high-profile purchases such as real estate in Europe and the United States, luxury cars, and extravagant lifestyles attracting global attention.
With many reports suggesting he is one of Africa’s wealthiest leaders, his estimated $600 million dollar fortune means he will probably remain in power for the foreseeable and makes him one of the richest African presidents.
4 – Omar Al-Bashir – Sudan
The first billionaire former president on our list, Omar Al-Bashir ruled Sudan from 1989 until his ousting in 2019.
Long bieng a controversial figure, particularly due to allegations of corruption and human rights abuses during his tenure, al-Bashir’s net worth has often been the subject of intense speculation.
Al-Bashir’s wealth is believed to have been accumulated through a combination of state corruption, embezzlement, and the exploitation of Sudan’s resources, particularly its oil sector.
During his presidency, Sudan experienced periods of significant oil production, but much of the wealth generated from these resources allegedly benefited the ruling elite rather than the general population.
Al-Bashir and his close associates are believed to have used state funds to amass personal fortunes while much of Sudan’s population struggled with poverty, conflict, and economic instability.
Following his ousting in 2019 amid mass protests, al-Bashir was imprisoned and faced charges of corruption and illegal possession of foreign currency.
Investigations revealed large sums of money, including millions of U.S. dollars, in cash stashed at his residence.
His net worth, even after much of it was confiscated, is estimated to be worth close to $1 billion abroad, and as for Al-Bashir, he escaped prison and is currently missing.
3 – Ali Bongo – Gabon
Sitting as the third president of Gabon from 2009 to 2023, Gabon was originally Minister of Foreign Affairs from 1989 to 1991 during his fathers presidency.
While much os his wealth is thought to have come from his father, Bongo’s financial dealings have attracted international scrutiny, particularly from anti-corruption organizations.
Ali Bongo and his family have faced accusations of embezzling state funds and using Gabon’s oil wealth to fund lavish lifestyles, including luxury real estate in France, high-end cars, and other assets abroad.
Despite Gabon’s oil wealth, much of the population remains in poverty, and the country faces high unemployment and underdevelopment in key sectors like healthcare and education.
In 2010, French authorities launched an investigation into the assets owned by the Bongo family in France, where they were found to have numerous luxury properties.
Ali Bongo was removed in a coup in 2023 and now lives at his private residence in Libreville with estimates putting his once great fortune at $ 1 billion and one of the richest African presidents.
2 – Bola Ahmed Tinubu – Nigeria
The 16th and current president of Nigeria, Tinubu is widely regarded as one of Nigeria’s most influential political figures.
Tinubu’s wealth stems largely from his extensive business interests, particularly in real estate.
He is believed to own significant property holdings in Lagos, Nigeria’s commercial capital, which has been a key source of his fortune.
His business portfolio reportedly spans various sectors, including construction, oil, telecommunications, and media.
In addition, his political influence has allowed him to maintain a vast network of connections, further enhancing his financial and political power.
Tinubu’s wealth and influence played a crucial role in his rise to the presidency.
His political acumen and ability to forge alliances across Nigeria’s diverse political landscape have made him a formidable figure in Nigerian politics.
Estimates put his current net worth at close to $4 billion and the second of the richest African presidents.
1 – King Mohammed VI – Morocco – $8 billion
Officially the richest African world leader to date, King Mohammed VI is also one of the wealthiest monarchs in the world today.
His wealth largely comes from his control of major investments and businesses in Morocco through his holding company, Société Nationale d’Investissement, a private holding company that has stakes in several key sectors of the Moroccan economy.
SNI is involved in industries such as banking, mining, agriculture, real estate, telecommunications, and renewable energy.
The company holds a controlling interest in Morocco’s largest bank, and Managem, a major mining company while the king is also thought to own over 12,000 hectares of land.
The king’s wealth is further supplemented by his ownership of vast tracts of agricultural land and other business interests.
His royal family also benefits from a government budget allocated to maintain the royal palace and family’s expenses.
Under King Mohammed VI’s rule, Morocco has experienced significant economic development, largely attributed to his focus on modernizing the country’s infrastructure, attracting foreign investment, and promoting tourism.
Despite his wealth, King Mohammed VI enjoys significant public support due to his role in advancing Morocco’s development and maintaining political stability in a region often marked by unrest.
His overall net worth is thought to be about $8 billion, however his daily palace operating budget alone comes in at around $960,000 or $350 million per year with him crowned king of the richest African presidents.
Thanks for watching this video on the Top 20 Richest African Presidents In 2024, check out another African billionaire video on this page and click the like button for more coming soon!
