Egypt and South Africa were the only African countries where more than half of the country’s billionaires got richer in 2016. In both, four out of seven billionaires added to their wealth in the past year. In Nigeria, meanwhile, only one of four billionaires got richer this year.
In total, the twelve African billionaires whose net worths increased this year added a combined $6.2 billion to their fortunes in 2016. The continent outperformed the overall FORBES World Billionaires List, where only 46% of billionaires saw their fortunes increase in 2016. The year’s biggest global gainer, American billionaire Warren Buffett, has a fortune that jumped almost twice that amount in 2016.
All net worth changes were measured between Dec. 31, 2015 and Dec. 23, 2016.