African billionaire families fail to reach Forbes top 25 richest families

No African billionaire families are among the world's top 25 richest families which is also coupled with the fact that no African billionaire is in the world’s 100 wealthiest individuals, emphasising a significant wealth gap globally.

According to Bloomberg's latest list of the world's wealthiest families, a substantial $32 billion is now required to be among the top 25 richest families globally.

This marks a notable rise from the $26.2 billion needed in 2022, a year where the Walton family held the leading position for the fourth consecutive year with a staggering net worth of $224.5 billion.

The Al Nahyan family of Abu Dhabi claims the top spot with a staggering $305 billion, surpassing the Waltons of Walmart Inc. by $45 billion.

Globally, the wealthiest families have added $1.5 trillion to their wealth since the last ranking, with notable gains seen in the Middle East.

While no African billionaire family made the top 25 globally, Africa's wealthiest families continue to amass impressive fortunes.

The Sawiris family from Egypt leads Africa with a combined fortune of $14.5 billion.

The Dangote family of Nigeria, Rupert, and Oppenheimer families follow, holding the second, third, and fourth spots on the continent with fortunes of $16.1 billion, $11.5 billion, and $9.38 billion, respectively.

A recent addition to this exclusive group is the Elsewedy family from Egypt. Renowned for their investment in Elsewedy Electric, a major player in the electrical equipment manufacturing industry, they have joined the ranks of Africa’s most affluent families.

Renowned for their investment in Elsewedy Electric, a major player in the electrical equipment manufacturing industry, the Elsewedy family has joined the ranks of Africa’s most affluent families.

ID/MA

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