Africa is known for being the youngest continent on the planet, with over 60% of its population under 25. The streets are alive with energy, innovation, and dreams, as young Africans drive the cultural zeitgeist and fuel a burgeoning tech ecosystem.
But when you look at who’s holding the biggest bags of wealth and power, it’s a different story. The continent’s richest people aren’t the vibrant, youthful faces driving today’s trends—they’re older, seasoned veterans who’ve spent decades building empires and solidifying their legacies.
This interesting contrast prompts a reflection on the dynamics of wealth accumulation, legacy, and the barriers to generational wealth transfer in Africa.
While the youth steer conversations around technology, climate action, and social innovation, the continent’s wealthiest still dominate through traditional industries like energy, real estate, and manufacturing—sectors that require time, experience, and entrenched networks to navigate successfully.
Africa’s elderly billionaires are products of their time. Many began their journeys when industries were nascent, laying the foundations for sectors that would grow alongside the continent’s economies. They took risks in volatile environments, establishing conglomerates and industries that became lifelines for their nations.
This dominance by older generations is not unique to Africa, but its persistence raises questions in a continent bursting with youthful talent and ambition.
Nathan Kirsh, at 93 years old, holds the title of the oldest billionaire in Africa. With a net worth of $7.3 billion, his wealth comes from ventures in retail and real estate, making him a prominent figure from Eswatini.
Following closely is Othman Benjelloun, aged 92, whose $1.6 billion fortune stems from banking and insurance in Morocco. Christoffel Wiese from South Africa, an 83-year-old retail magnate with a net worth of $1.6 billion comes third.
Source: africa.businessinsider.com
