By By Elizabeth Ugbo
Rabiu Surpasses Johann Rupert in Bloomberg Ranking
Abdul Samad Rabiu has emerged as Africa’s second-richest individual after overtaking Johann Rupert in the latest Bloomberg Billionaires Index. Bloomberg released the ranking on May 7, 2026, showing Rabiu’s net worth climbed to $18.6 billion. The sharp increase followed strong performances across his cement, food and manufacturing businesses. Consequently, Rabiu now ranks 138th globally among the world’s wealthiest individuals.
Rabiu Records Massive Wealth Growth in 2026
Bloomberg data showed that Rabiu added about $8.47 billion to his fortune this year alone. As a result, he became Africa’s strongest-performing billionaire in 2026.
Earlier in March, Forbes named Rabiu the biggest gainer among African billionaires. The magazine reported that his wealth surged by $6.1 billion within one year.
According to Forbes, Rabiu’s net worth rose by nearly 120 per cent to $11.2 billion. Therefore, he moved from sixth to third position among Africa’s richest individuals. He also climbed to the 66th position globally after gaining about $4.38 billion earlier this year.
Recent estimates placed Rabiu’s fortune at approximately $15.9 billion, highlighting the rapid expansion of his industrial empire.
Dangote Retains Africa’s Top Spot
Despite Rabiu’s impressive rise, Aliko Dangote maintained his position as Africa’s richest person.
Bloomberg estimated Dangote’s net worth at $34.4 billion, keeping him comfortably ahead of other African billionaires.
Johann Rupert Slips in Global Ranking
Meanwhile, Rupert’s fortune reportedly declined by $1.76 billion this year. Consequently, his net worth dropped to $17.9 billion, pushing him down to the 153rd position globally.
The latest ranking now places Rabiu ahead of the South African luxury goods billionaire.
Otedola, Adenuga Missing From Top 500 List
The Bloomberg Billionaires Index did not include other Nigerian billionaires among the world’s top 500 richest individuals.
Mike Adenuga, founder of Globacom, reportedly holds an estimated net worth of $6.5 billion. However, Bloomberg excluded him from the latest top 500 ranking.
Similarly, Femi Otedola, with an estimated fortune of $1.3 billion, also failed to make the list.
Earlier in 2025, Otedola sold his majority stake in Geregu Power Plc for ₦1.088 trillion. A banking consortium led by Zenith Bank Plc financed the transaction.
Why Rabiu’s Wealth Is Rising
Analysts linked Rabiu’s rapid wealth increase to stronger valuations across his industrial investments. His businesses in cement production, food processing and manufacturing have continued to expand across Africa.
The latest Bloomberg ranking further strengthens Rabiu’s position as one of the continent’s most influential business leaders.
