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Top 10 Countries With The Most Billionaires In 2024

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Billionaire wealth is at an all-time high with some countries boasting of close to 800 billionaires and some struggle to count 20

Forbes’ 38th list shows 2,781 billionaires with a combined $14.2 trillion. This is 141 more billionaires and $2 trillion more wealth than last year.

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In 2023, the list saw $900 billion in added wealth, and many of the world’s richest have grown even wealthier.

The U.S. leads with tech and finance billionaires. China, India, Germany, and Russia follow with wealth in tech, resources, and manufacturing. In Europe, countries like the UK, France, and Italy have their wealth mainly in finance, luxury, and industry.

Here’s a look at the top billionaire countries and some of their top billionaires.

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United States

Leading globally, the U.S. has around 813 billionaires. Many come from technology, finance, and entertainment industries. Some of its billionaires include:

Elon Musk ($245.8 billion)– Founder of Tesla, SpaceX, and other ventures, Musk’s fortune has soared due to innovations in tech and space.

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Jeff Bezos ($206.6 billion)– He is the founder of Amazon and his fortune expanded from the e-commerce and cloud computing empire.

Warren Buffett ($145 billion) – Known as the “Oracle of Omaha,” Buffett leads Berkshire Hathaway with investments in diverse sectors.

Bill Gates ($106.6 billion) – He is the co-founder of Microsoft.

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China

China follows closely with about 406 billionaires, thanks to its booming tech and manufacturing sectors. Some of its billionaires are:

Zhong Shanshan ($52 billion) – He is the founder of Nongfu Spring, China’s largest bottled water company, with a fortune made through consumer goods.

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READ ALSO: Top 10 Countries In Africa Where Workers Earn Highest Salaries

Ma Huateng (Pony Ma) ($47.4 billion) – He is the founder of Tencent, the social media and gaming giant, which has contributed significantly to his wealth.

Jack Ma ($25.8 billion) – Co-founder of Alibaba, China’s leading e-commerce platform, Jack Ma is a popular name among Chinese billionaires.

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India

India has seen rapid growth in its billionaire count which stands at 200, driven by industries such as technology, consumer goods, and pharmaceuticals. Here are some of its billionaires:

Mukesh Ambani ($107.7 billion) – He is the chairman of Reliance Industries and his wealth spans energy, telecom, and retail.

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Gautam Adani ($80.4 billion) – He is known for his conglomerate Adani Group, and his wealth comes from infrastructure, energy, and ports.

Shiv Nadar ($41 billion) – Founder of HCL Technologies, Nadar is among the tech billionaires pushing India’s economy forward.

Germany

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Germany’s billionaire wealth is strongly rooted in manufacturing and technology, with some billionaires maintaining family-held businesses. The country has approximately 132 billionaires. Some of their billionaires are:

Beate Heister & Karl Albrecht Jr. ($25.9 billion) – Heirs of the Aldi supermarket chain, the Albrecht family has long been part of Germany’s wealth.

Dieter Schwarz ($37 billion) – Owner of Lidl and Kaufland, Schwarz is a major player in European grocery retail.

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Susanne Klatten ($22.3 billion) – She is a key shareholder in BMW and an heir to the pharmaceutical company Altana.

READ ALSO: 10 Most Corrupt Countries In Africa In 2024

Russia

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Russia’s billionaires are primarily concentrated in energy, metals, and mining industries, with wealth tied closely to natural resources. The country boasts of 120 billionaires.

Vladimir Potanin ($23.7 billion) – A leading shareholder in Norilsk Nickel, Potanin’s wealth is deeply rooted in mining and metals.

Leonid Mikhelson ($27.4 billion) – He is the CEO of Novatek and one of Russia’s wealthiest, thanks to his investments in natural gas.

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Alexey Mordashov ($25.5 billion) – He is the owner of Severstal and his wealth is based on steel and energy.

Italy

Italy’s billionaires are often tied to fashion, infrastructure, and manufacturing. The country currently has 73 billionaires, and some of the popular ones include:

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Giovanni Ferrero (43.8 billion)– Chairman of Ferrero Group, known for Nutella and Ferrero Rocher, his wealth is rooted in the confectionery business.

Leonardo Del Vecchio ($25 billion) – Founder of Luxottica, the world’s largest eyewear company, Del Vecchio has long been a staple of Italian wealth.

Hong Kong

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Hong Kong is home to 67 billionaires with businesses spanning across real estate, finance, and technology. Some of its billionaires are:

Li Ka-shing ($36.8 billion) – Known as “Superman” in Hong Kong, his wealth stems from infrastructure, real estate, and telecommunications.

Lee Shau Kee ($29.3 billion) – Founder of Henderson Land Development, Lee is a major figure in Hong Kong’s real estate scene.

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Henry Cheng ($28.9 billion) – Chairman of New World Development, Cheng’s fortune is rooted in real estate and infrastructure.

Canada

Canada’s 67 billionaires are primarily involved in media, e-commerce, and real estate. Here are some:

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David Thomson & family ($61.3 billion) – Owners of Thomson Reuters, the Thomson family are leaders in media and information services.

READ ALSO: 7 Countries With No Railway Lines And Why

Joseph Tsai ($9.7 billion) – He is the co-founder of Alibaba and owner of the Brooklyn Nets. Tsai represents Canadian investments in tech and sports.

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Jim Pattison ($9.3 billion) – His conglomerate, the Jim Pattison Group, spans grocery, media, and automotive services.

United Kingdom

The UK’s billionaire population of 55 comes from various sectors, including finance, real estate, and retail. Some of the popular ones include:

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James Ratcliffe ($16.5 billion) – Founder of chemical giant Ineos, Ratcliffe is among the wealthiest in the UK.

Hugh Grosvenor ($12.8 billion)– Known as the Duke of Westminster, Grosvenor’s wealth comes from extensive real estate holdings.

Sir Richard Branson ($6.5 billion) – Founder of the Virgin Group, Branson’s wealth spans industries from music to travel.

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France

France’s billionaire population is largely in luxury goods, a sector in which it leads globally. France has 53 billionaires, and some of them are:

Bernard Arnault ($177.9 billion) – Chairman of LVMH, Arnault is often among the world’s wealthiest due to luxury brands like Louis Vuitton and Sephora.

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Francoise Bettencourt Meyers ($87.2 billion)– Heir to the L’Oréal empire, she is among the wealthiest women globally.

Francois Pinault ($20.9 billion)– Founder of Kering, which owns luxury brands like Gucci and Saint Laurent, Pinault’s fortune is rooted in high-end fashion.

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10 African Countries With Highest Military Spending In 2025

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The reality of African military spending in 2025 is shaped by geography, political dynamics, economic capability and regional threats.

Defence budgets across Africa are telling a story of evolving priorities. While some countries are pouring resources into modernising their armed forces, others are focusing on stabilising fragile internal structures or managing limited resources in the face of growing security threats. The top military spenders on the continent this year reflect this diversity in strategy and circumstance.

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At the top of the list is Algeria, with a defence allocation of around $25 billion. This comes as little surprise given the country’s longstanding military tradition and its interest in maintaining regional dominance. Algeria has been particularly focused on modernising its air defence and acquiring advanced military hardware. With ongoing tensions involving its neighbour Morocco and instability in nearby Sahel countries, Algeria’s military investment is not only about deterrence but also about preparedness.

Morocco comes in second, spending approximately $13.4 billion on its defence sector. Much of Morocco’s budget is believed to go toward upgrading its air force and surveillance capabilities. The ongoing situation in Western Sahara continues to influence the country’s military posture, and Morocco has increasingly turned to Western suppliers for equipment. Its investment strategy also reflects a broader ambition to assert influence and ensure national security amid rising regional instability.

READ ALSO:Top 10 Countries With The Fastest Internet Speed In 2025

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Egypt remains a heavyweight in African military affairs, with nearly $6 billion dedicated to defence this year. The country maintains one of the largest and most experienced armed forces in Africa. Egypt’s strategic location and ties to global powers play a major role in shaping its military spending. Its focus areas include naval strength in the Red Sea, border protection, and counterterrorism operations in the Sinai region. A significant portion of Egypt’s budget also supports joint military exercises and maintaining long-term partnerships with Western allies.

Nigeria, Africa’s most populous country, is allocating around $3.1 billion to its military in 2025. Faced with persistent insurgencies in the northeast, rising cases of banditry, and threats to oil infrastructure, Nigeria is investing more in surveillance, tactical response, and mobility. However, despite the budget size, questions persist about how effectively these resources are managed. Internal inefficiencies and corruption have often limited the impact of military spending, although reforms are slowly gaining traction.

Libya, despite enduring years of political fragmentation and conflict, ranks fifth with $3 billion in defence expenditure. The country’s spending is shaped largely by the need to rebuild military institutions and secure borders that have long been porous. Though rival factions still hold sway in different regions, recent moves toward unification have led to increased central oversight of defence funding. Libya’s military priorities include stabilising key infrastructure, reducing foreign military involvement, and restoring national cohesion.

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South Africa, with a budget of roughly $2.3 billion, is the highest spender in Sub-Saharan Africa after Nigeria. The country faces fewer direct security threats than others on this list, but it maintains a capable and relatively advanced defence sector. Budget limitations in recent years have led to ageing equipment and recruitment challenges. Even so, South Africa continues to contribute to regional peacekeeping missions and has been increasing its focus on cyber defence and modernisation through strategic planning.

READ ALSO:Nine Countries With Nuclear Weapons In The World

Ethiopia’s military spending stands at about $2.1 billion this year. Following recent internal conflicts, the country is focused on rebuilding and restructuring its military forces. Spending is expected to go toward restocking supplies, increasing professionalism in the ranks, and improving border security, particularly with Sudan and Eritrea. Given its geographic location and history of regional involvement, Ethiopia’s defence capabilities are considered crucial not only for internal stability but also for regional balance.

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Tanzania is allocating approximately 1.4 billion dollars to its defence sector in 2025. Though not frequently in the headlines for security concerns, Tanzania quietly invests in protecting its borders, maintaining internal stability, and supporting African Union peacekeeping operations. Its military also contributes to anti-narcotics efforts and maritime safety, given its coastal location. Recent moves show a growing interest in enhancing training programs and building stronger ties with foreign partners for logistics and support.

Tunisia matches Tanzania’s budget with a similar figure of 1.4 billion dollars. In Tunisia’s case, much of the defence spending is directed toward counterterrorism and intelligence operations. The country has faced several security incidents over the past decade and has prioritised preventing extremist activities, particularly in remote border areas. Efforts have also been made to modernise internal security structures and improve cybersecurity, often with the support of international partners who view Tunisia as a strategic bridge between Africa and Europe.

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Kenya closes the list with a defence budget of $1.3 billion. The country has played a consistent role in regional peacekeeping, especially in Somalia. Its military priorities include border security, maritime surveillance, and improving response to terrorism-related threats in the northeastern regions. Kenya has been working to modernise its force structure, with growing investments in technology, training, and partnerships with countries that support its regional security mission.

Country Budget Military Rank in Africa

1 Algeria $25.0 billion 1st

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2 Morocco $13.4 billion 4th

3 Egypt $5.9 billion 2nd

4 Nigeria $3.1 billion 3rd

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5 Libya $3.0 billion 9th

6 South Africa $2.3 billion 5th

7 Ethiopia $2.1 billion 6th

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8 Tanzania $1.4 billion 10th

9 Tunisia $1.4 billion 8th

10 Kenya $1.3 billion 7th

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Africa Loses $7bn Annually On Medical Tourism – Afreximbank

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The African Export-Import Bank (Afreximbank) says Nigeria and other African nations are losing billions of dollars annually to medical tourism.

Afreximbank’s Export Development Managing Director, Mrs Oluranti Doherty, made the assertion while speaking at the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja on Thursday.

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Doherty said the trend was hindering economic development and local healthcare infrastructure.

She identified the soaring costs of medical tourism as a major drain on African economies.

READ ALSO:FULL LIST: Nigeria Emerges As Africa’s Third Most Formidable Military Force

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According to her, Nigeria alone loses an estimated $1.1 billion annually to medical tourism, while the entire African continent collectively forfeits approximately $7 billion yearly.

“We had our member countries losing a lot of foreign exchange to medical tourism.

“We just talked about Nigeria, where our medical tourism annually is about $1.1 billion.

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“The entire continent is about $7 billion just because we can’t help ourselves with ourselves when we come up with chronic diseases.

“ That’s money that’s going to other economies, building up their institutions,” she said.

READ ALSO:‎Italian PM Trumpets Plan To Boost African Economies At EU Summit

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She noted that the capital outflow diverts funds that could be invested in local healthcare.

Doherty added that the development contributes to a “brain drain” of skilled medical professionals from the continent.

“Another thing we noted was a great way we were losing a lot of our good talents.
“The best of talents in the health sector were going out of the continent, working in places such as India, Asia, Middle East, America, and that often was an issue,” she said.

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Doherty said the bank launched its Health and Medical Tourism Programme in 2012 long before the broader recognition of healthcare’s connection to economic security in response to the challenge.

READ ALSO:Again, Nigerian Pastor Acquitted Of Rape, To Leave South Africa

Afreximbank was innovative. I call us the innovative financier, innovative investors.

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“We recognised this part since 2012 and we set about doing something about it.

“A key initiative borne from this foresight is the Africa Medical Center of Excellence (AMCE) in Abuja, a 170-bed facility boasting state-of-the-art equipment, including an 18 MeV cyclotron, a three-Tesla MRI, and a 20-bed ICU.

“Afreximbank has invested over $450 million to establish and scale up this project,” she said.

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READ ALSO: FULL LIST: Nigeria Emerges As Africa’s Third Most Formidable Military Force

The official praised the leadership behind the AMCE, noting, “Afreximbank had to go where no one has gone before; Afreximbank’s leaders adhered to the dreamers.

“The AMCE aims to provide healthcare services comparable to global standards, not just African standards.

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“I’m talking about global standard. I’m talking about Africans coming up with solutions to challenge,” she said.

She, however, stressed the need to build trust in local healthcare facilities and ensure access for all to stem medical tourism.

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Court Remands Teacher Over Alleged Sexual Assault On 2 Pupils

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An Ikeja Chief Magistrates’ Court on Thursday remanded a 27-year-old teacher, Wisdom Anokwuru, in Kirikiri Correctional Centre over alleged sexual assault on two pupils.

The Chief Magistrate, Mrs O.O Kushanu, who did not take Anokwuru’s plea, ordered that the file should be sent to the Director of Public Prosecutions for advice.

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Kushanu adjourned the case until Sept. 15 for mention.

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The defendant, who resides at No. 5, Goodluck Avenue, Ibaranje, Ikotun, Lagos, is facing a charge of sexual assault.

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Earlier, the Prosecutor, ASP Adegoke Ademigbuji, told the court that the defendant committed the offences on June 17 at a private school in Ikotun, Lagos.

Ademigbuji said that the defendant took the girls, both 8-year-old to the school library and touched their private parts.

READ ALSO:Chaos In Court As Ex-convict Attempts To Escape

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He said that the defendant also showed the girls a porn video on his phone.

Ademigbuji said the girls later informed the school administrator and the defendant was subsequently arrested.

The prosecutor said offences contravened Sections 135 and 171 of the Criminal Law of Lagos State, 2015.(

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