Richest People

Top 10 Richest Kings In Africa [2024]

Who are the richest kings in Africa has been a popularly asked question that many people are curious to get the answer to?

Published

11 months ago

January 12, 2024

Maryjane Eze

Monarchy was the most common form of government that characterized pre-colonial Africa. The continent was divided into numerous societies which were often headed by a King. Not so surprisingly, many of these societies continued the monarchical tradition, even though many of the kings ceded their power to Colonial masters and ultimately the states that emerged out of colonial Africa. Despite just being a ceremonial figure of their people, many of these kings command enormous respect and influence among their people. They also control a large volume of wealth inherited from the throne. Some others have also built concrete careers in the business and corporate world before their enthronement. With this in mind, we have compiled a list of the top 10 richest kings in Africa.

1. King Mohammed VI of Morocco

Net Worth: $2.1 Billion

King Mohammed VI of the Alawi dynasty in Morocco ascended the throne after the death of his father King Hassan in 1999. He is the richest king in Africa with an estimated net worth of $2.1 billion

King Mohammed VI despite being a King, is a leading banker, and a businessman from a famous family that has the largest fortunes in the World.

His family holds a major stake in Société Nationale d’Investissement (SNI) which was initially state-owned. His estimated net worth of $2.1 made him the richest king in Africa.

2. Oba Fedrick Obateru Akinrutan

Net Worth: $300 Million

Oba Fedrick Obateru Akinrutan with an estimated net worth of 300 million, grabs the second place among the richest kings in Africa and is currently the richest king in Nigeria.

He is a traditional ruler of the Ugbo Kingdom ( Ilaje Local Government Ondo State, Nigeria), a Nigerian Monarch, and the founder of one of Nigeria’s largest and leading privately-held oil companies Obat Oil.

Obateru has also had some other residential and commercial Real Estate properties in Nigeria and London. He was appointed King of Ugbo Kingdom in 2009 after the then-king lost a case in court which led to the loss of his throne.

3. Sultan Sa’adu Abubakar III of sokoto

Net Worth: $100 Million

Sultan Sa’adu Abubakar III of Sokoto is the 20th sultan of Sokoto and one of the richest kings in Africa, with an estimated net worth of $100 Million.

As the Sultan of the Sokoto Caliphate, He is considered the spiritual leader of Nigeria’s Muslims and the most powerful traditional ruler in northern Nigeria.

Sa’adu Abubakar ascended the throne in November 2006, following the death of his brother, Muhammadu Maccido. Before his ascension, he served in the Nigerian Military and numerous administrative capacities.

4. King Mswati III of Swaziland

Net Worth: $100 Million

King Mswati III of Swaziland, with an estimated net worth of $100 Million, grabs the fourth spot among the richest Kings in Africa. He is also considered one of the world’s richest royals

Mswati III took over from his father after his death at the age of 18 thereby becoming the first youngest Monarch in the world and the last absolute monarch in Africa.

Aside from being a ceremonial and political leader of his people. King King Mswati III is also a seasoned entrepreneur and businessman. He is the CEO of the Tibiyo TakaNgane investment company.

5. Oba Adeyeye Ogunwusi Enitan

Net Worth: $70 Million

Oba Adeyeye Ogunwusi Enitan is the traditional ruler/monarch of the Yoruba kingdom of Ile-Ife and one of the richest Kings in Africa, with an estimated net worth of $70 Million.

He ascended to the throne in 2015 succeeding the deceased Oba Okunade Sijuwade, becoming the 51st and current Ooni of Ife in Osun State, Nigeria.

However, apart from being a ruler of Ile Ife, Oba Adeyeye is a high-ranking member of the Nigerian corporate world. He is a member of the Institute of Chartered Accountants of Nigeria, among other honors

6. Oba Ewuare II Odidigan

Net Worth: $60 Million

Oba Ewuare II Odidigan is the 40th Oba of the great Benin Kingdom and one of the richest Kings in Africa with an estimated net worth of $60 Million.

He rose to the position of Oba of Benin after his father’s death, Oba Erediauwa, becoming the 40th Oba of the Benin kingdom, which was once the biggest empire in West Africa.

Aside from his traditional role as the ruler of Benin, Oba Ewuare II is also a prominent businessman, with numerous business ventures. He is also an ambassador of numerous international entities including the United Nations

7. Obi Nnaemeka Alfred Ugochukwu

Net Worth: $50 Million

The 21st Obi of Onitsha, Obi Nnaemeka Alfred, with an estimated net worth of $50 Million is no doubt one of the richest Kings in Africa. He is one of the kings with a concrete corporate career before his ascension.

Before becoming the Obi in 2002, he had a distinguished career in the Royal Dutch Shell Group serving as Director in various companies in the group. Currently, he is the chairman of the board of directors of Unilever Nigeria

Currently, he is a trustee, of the National Traditional Rulers Council and its state Chairman in Anambra State. He is also the present Chancellor of Ahmadu Bello University and has served as Chancellor of Kogi State University

8. Oba Rilwan Akiolu of Lagos

Net Worth: $40 Million

The Oba of Lagos, Oba Babatunde Aremu Akiolu, with an estimated net worth of $40 Million, joins the list of the richest kings in Africa in 2023.

Before he emerged as the Oba of Lagos, he served in the Nigeria Police Force for 32 years and was promoted to assistant inspector-general of Police in 1999, until his retirement in 2002.

He is also a member of the Nigerian Institute of Management and a fellow of the Nigerian Law School. He became the Lagos traditional kingdom and was crowned in 2003, succeeding Oba Adeyinka Oyekan.

9. Togbe Afede XIV of Asogli

Net Worth: $30 Million

Togbe Afede XIV is the president of Asogli Traditional Area in Asogli State, Ghana, and former President of the National House of Chiefs. He is also one of the richest Kings in Africa, with a net worth of $30 Million

He was coronated in October 2003. Before that, He attended the University of Ghana where he obtained a Bachelor’s degree in Accounting in 1979. He also holds an MBA from the Yale School of Management in 1989.

Careerwise, Togbe Afede is the executive chairman of World Trade Centre Accra. He is the founder of SAS Finance Group Ltd, a stock brokerage, corporate finance advisory firm, and so on.

10. Otumfuo Osei Tutu II

Net Worth: $30 Million

Otumfuo Osei Tutu II is the King of Ghana’s gold-rich Ashanti kingdom, home to the country’s largest ethnic group, the Asantes. He ascended the throne in 1999 and serves as the political and spiritual head of the Asante people.

After studying in the United Kingdom, Osei Tutu II worked briefly in private and public organizations in the United Kingdom and Canada before returning to Ghana in 1989 to set up Transpomech Ghana.

Transpomech is a $12 million company that provides mining equipment to several large industrial companies in Ghana. The King also owns extensive real estate in Ghana and South Africa as well as valuable gold crown jewels.