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| Abdul Samad Rabiu |
Nigerian tycoon Abdul Samad Rabiu, founder and chairman of BUA Group, just crushed it as Africa’s top billionaire gainer - his net worth rocketed $6.1 billion in the past year alone.
Forbes’ fresh rankings on March 9, 2026, show Rabiu’s fortune exploding 120% to $11.2 billion, vaulting him from sixth to third on the continent’s rich list. (He was at $5.1 billion back in April 2025.)
Credit goes to BUA Cement’s stellar run, with shares soaring 135% over the year.
“The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.2% of it. He also owns 95% of publicly traded food conglomerate BUA Foods,” Forbes said.
Forbes credits Rabiu’s empire to savvy bets on cement, sugar, and heavy industry.
This surge catapults him just behind South Africa’s luxury king Johann Rupert and Nigeria’s unbeatable Aliko Dangote, Africa’s richest.
A top-10 staple, Rabiu’s wealth has ridden a rollercoaster: climbing from $4.9 billion in 2021 to $6.9 billion in 2022, peaking at $8.2 billion in 2023 - before dipping to $5.2 billion in 2024 and $5.1 billion in 2025.
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