According to the Global Livability Index, numerous African cities face significant challenges, including continuous economic pressures, rising insecurity, and under-resourced healthcare and education systems.

Cities like Lagos and Port Harcourt in Nigeria are grappling with overcrowding, inadequate healthcare, and increasing crime rates. Meanwhile, Zimbabwe's capital, Harare, suffers from hyperinflation and failing infrastructure.

The report assesses various factors affecting the quality of life in urban areas. Stability considers crime rates and civil unrest, while healthcare is evaluated based on the availability and quality of health services. Furthermore, the culture and environment category measures climate and recreation, and education focuses on access to schooling. Infrastructure evaluates transport, housing, and connectivity.

Overall, the livability rankings show that African cities, like Algiers and Tripoli, also struggle with severe challenges. For example, Libya's Tripoli faces ongoing conflict repercussions while Algiers deals with weak economic structures. Inadequate infrastructure and poor housing conditions exacerbate these issues.

Here’s a snapshot of the ten most difficult cities to live in according to the index:

1. Caracas, Venezuela

2. Kyiv, Ukraine

3. Port Moresby, Papua New Guinea

4. Harare, Zimbabwe

5. Lagos, Nigeria

6. Algiers, Algeria

7. Karachi, Pakistan

8. Dhaka, Bangladesh

9. Tripoli, Libya

10. Damascus, Syria

This ranking reveals just how significant the disparities are in global living conditions, particularly in war-torn or economically-strapped nations.

“For segmented indicators, China’s financial technology competitiveness has ranked third for two straight years, and this year’s score is significantly higher than last year, driven by notable development potential of China’s fintech industry,” said Liu Dongmin, senior research fellow at the CASS Institute of World Economics and Politics.

The study highlighted rapid advances in China’s fintech sector. The country’s fintech development potential index jumped from 35.12 in 2024 to 57.25 this year, propelling China’s ranking in this metric from 12th place to fourth globally. Notably, China’s AI talent index also climbed from eighth to fourth place.

Li Dongrong, former deputy governor of the People ’s Bank of China, underscored China’s leading role in shaping the global digital economy. “China’s development of digital finance technology, especially mobile payment technology, is globally leading. Leveraging on the growth of digital technology, China’s financial services have effectively covered areas that were previously difficult to reach, and the country has made effective breakthroughs in inclusive finance,” he said.

Data from ChinaIRN showed the global digital finance market reached $4.5 trillion last year, with China alone accounting for $3.2 trillion, consolidating its status as a major engine of global growth.

Historic homes in Saudi Arabia are undergoing renovations to serve as cafes and restaurants, thereby offering a dining experience steeped in cultural heritage. Establishments such as Tagmera in Madinah exemplify this trend. Managed by Saleh Shahini and his mother, this venue has repurposed an 80-year-old family residence while preserving its original stone architecture and intimate ambience. Similarly, Into Sushi, managed by Leen Kurdi, presents a fusion of Japanese cuisine and Madini hospitality, respecting the essence of the home. Abdulrahman Al-Hejaili’s Kaboun aims to create a welcoming dining affair with simple yet delightful dishes, where patrons find charm in these transformed establishments that resonate with historical significance.

Daylight saving time in schools

Saudi Arabia is set to introduce daylight saving time for all public and private educational institutions beginning Sunday, April 6, 2025. According to Gulf News , this policy aims to improve operational efficiency and synchronise educational schedules with seasonal variations. In Riyadh, the schedule will see morning assemblies starting at 6:15 am, followed by classes commencing at 6:30 am. In regions such as Asir and Al Baha, the class start times will be slightly later. Educational authorities have underscored the significance of punctuality and advised families to provide the necessary support to students adapting to these changes.

Visa entry limitations

Recent regulations in Saudi Arabia now impose restrictions on multiple-entry visas for nationals from 14 countries, including Pakistan. This adjustment impacts frequent travellers and families, potentially extending visa processing durations and prompting experts to recommend early application submissions. The hospitality and aviation sectors may witness variations in ticket sales and a potential drop in hotel occupancy, Pakistan Today reports. Relevant authorities have called for travellers to inquire about mahram exemptions when applicable and urged pilgrims to remain attuned to updates concerning Hajj bookings, as further changes in visa processing are anticipated.

Real estate investments

The Saudi Ministry of Investment has initiated openings in the real estate market for foreign investors, allowing them to engage in property transactions for investment objectives. There are critical stipulations, including that properties must be situated outside Makkah and Madinah, transactions are prohibited from being for commercial speculation and foreign entities must secure approvals for specific applications such as personal residency and industrial projects. Gulf Business reports that the approval process is streamlined through the ministry's e-services portal and is completed within five business days, pending the submission of requisite documentation including a building permit, property deed, and engineering reports for sizeable development projects, which should have a minimum cost of SR30 million and be further utilitarian within a five-year window, outside of Makkah and Madinah.

Forbes’ rankings for Arab billionaires

According to Forbes' rankings for Arab billionaires in 2025, Saudi Arabia leads the list with a total of 15 billionaires, prominently featuring Prince Alwaleed bin Talal at the helm with a net worth of $16.5 billion. Circuit News reports that other significant figures include Sulaiman Al-Habib, valued at $10.9 billion, and Emad Al-Muhaidib, with $3.8 billion. In contrast, both the UAE and Egypt account for five billionaires each, with the UAE’s collective wealth amounting to $24.3 billion, whereas Egypt’s total reaches $9.6 billion, with top earners being real estate magnate Hussain Sajwani and industrialist Nassef Sawiris, respectively.

The rankings are based on how people rate their own lives, using a scale from 0 to 10.

Researchers considered key factors such as income, social support, life expectancy, freedom, generosity, and corruption levels to explain differences in happiness across countries.

While wealthier countries generally rank higher, happiness is not solely about money.

Costa Rica and Mexico made it into the top 10, showing that strong social connections and a sense of purpose can make a big difference.

At the bottom of the list, Afghanistan remains the least happy country, with an average score of just 1.36.

The situation is even worse for Afghan women, who report even lower life satisfaction. Other countries struggling with low happiness levels include Lebanon, Venezuela, and several African nations.

The World Happiness Report also tracks changes over time. Countries in Central and Eastern Europe, such as Serbia, Bulgaria, and Romania, have seen big improvements.

Meanwhile, some of the world’s richest nations, including the United States, Canada, and Switzerland, have dropped in rankings compared to previous years.

Here’s how countries in the Global South rank by region:

Asia:

China

Mongolia

Philippines

Vietnam

Afghanistan (lowest-ranked)

Africa:

Togo

Congo

Malawi

Botswana

Egypt

Latin America:

Nicaragua

Costa Rica (6th happiest in the world)

Mexico (10th happiest in the world)

Venezuela (ranked among the unhappiest)

Bangladesh leads the survey with an overwhelming 98.8% of respondents expressing belief in the afterlife. This is followed closely by Morocco at 96.2% and Libya at 95.2%, underscoring the deep influence of Islam in these regions. Both Ethiopia and the Philippines, where Christian and Islamic traditions dominate, also report high belief levels, with 82.4% and 83.8% of respondents, respectively, affirming a belief in life after death.

In contrast, Western nations show more moderate belief rates, reflecting the impact of secularization on religious views. In the United States, 68.2% of respondents believe in the afterlife, while in Canada, the figure drops to 56.9%. These numbers suggest a shift from religious orthodoxy, with secular ideologies gaining ground in these societies.

At the opposite end of the spectrum, countries like China and Japan report significantly lower belief rates. In China, only 11.5% of respondents believe in life after death, while Japan's figure stands at 32.2%. These lower figures highlight the dominance of secular and alternative cultural views in these nations, where traditional spiritual beliefs may be less emphasized in the modern era.

The survey's findings provide a snapshot of how deeply cultural, religious, and historical factors influence global perspectives on life after death, revealing a world that is as diverse in its beliefs about the afterlife as in its other cultural practices.

LeapScholar reveals the latest ranking of global top universities.

Imperial College London (1907): Originally part of the University of London, Imperial became independent in 2007. Its motto, celebrating “scientific knowledge as the safeguard of the empire,” reflects its foundation during Britain’s imperial era.

Stanford University (1891): Founded in memory of Leland Stanford Jr., Stanford’s campus was established on his family’s horse farm. Over time, it has transformed into a hub of Silicon Valley innovation, fueling some of the world’s most significant technological advancements.

Caltech (1891): Renowned for managing NASA’s Jet Propulsion Laboratory (JPL), Caltech has played a central role in most of America’s unmanned space missions, cementing its place in aerospace exploration.

MIT (1861): A pioneer of wartime innovation, MIT was instrumental during World War II, with its students and faculty developing radar technology that proved crucial to the Allied victory.

ETH Zurich (1855): A cornerstone of scientific education, ETH Zurich counts Albert Einstein among its notable alumni and faculty. Interestingly, Einstein initially failed his entrance exam but later became a professor at the university at just 26 years old.

University of Toronto (1827): The university’s researchers discovered insulin and selflessly sold the patent for $1, ensuring the treatment was affordable and widely accessible—an enduring contribution to global health.

Harvard University (1636): America’s oldest institution of higher learning, Harvard began with a library of 400 books donated by its namesake, John Harvard. Tragically, all but one were destroyed in a fire in 1764—the sole survivor having been checked out at the time.

University of Cambridge (1209): Founded by scholars fleeing Oxford after a violent dispute with townspeople, Cambridge’s origins are rooted in resilience. The conflict began after scholars were blamed for a local woman’s death, leading to the hanging of several students.

University of Oxford (1096): With a history older than the Aztec Empire, Oxford is steeped in tradition. Its students still wear mandatory academic dress for exams, reflecting centuries of academic rituals.

University of Bologna (1088): As the world’s oldest university, Bologna pioneered student-led education. Professors were graded by their students, fined for starting late or finishing early, and required to pay a deposit to ensure their return if they left town.

These universities, spanning centuries and continents, remind us of the enduring power of education, discovery, and tradition. Each institution’s story reflects its unique contribution to the pursuit of knowledge and shaping the modern world.

UAE students have demonstrated significant improvements since 2019, with fourth-graders achieving a 17-point increase in mathematics and a 22-point rise in science, while eighth-graders experienced a 15-point increase in mathematics and a 14-point increase in science.

The report highlights improvements in student achievement on an international scale, particularly regarding low benchmarks in mathematics and science. However, it also notes an increase in achievement gaps between genders, particularly among fourth-grade mathematics students.

The findings suggest that the resources available at home may influence students' performance in these subjects.

The report was officially presented on 4 December at Dubai's Museum of the Future, in collaboration with the International Association for the Evaluation of Educational Achievement, Boston College's TIMSS & PIRLS International Study Centre, and the UAE's Ministry of Education.

Sarah bint Yousif Al Amiri, the UAE Minister of Education, praised the students for their outstanding achievements, expressing that these results reflect the ministry's continuous efforts to elevate the UAE's standing in global educational rankings.

"The results reflect the ministry's ongoing efforts to boost the country's ranking in international educational studies," Amiri said .

TIMSS and the Progress in International Reading Literacy Study (PIRLS) are essential assessments that measure trends in student performance across mathematics, science, and reading.

The CIVICUS report tracks civic freedoms, including the rights to association, assembly, and expression across 198 nations. The report attributes Zimbabwe's low ranking to the actions of the ruling Zanu PF government, which occurred particularly in the context of the SADC Heads of State and Government Summit hosted in Harare last August.

It documented widespread repression, notably the abduction and torture of human rights defenders and political activists, severely disrupting freedoms. Zimbabwe's score draws parallels with Uganda and the Democratic Republic of Congo (DRC), countries where similar political and human rights abuses are prevalent.

The CIVICUS findings indicated that over 160 individuals, including political leaders and journalists, faced detention ahead of the summit; such actions signal a troubling political environment. Activists reported instances of severe mistreatment, with some managing to appear in court bearing visible injuries.

In its prior assessment, CIVICUS condemned the legitimacy of Zimbabwe's elections, labelling them a mere formality to legitimise President Emmerson Mnangagwa’s regime.

"President Emmerson Mnangagwa of the Zanu PF party had another term confirmed through an election in which he used every trick in the book to ensure a favourable result,” the report read .

Zimbabwe has faced significant challenges regarding human rights and governance, particularly under the rule of the Zanu PF party. Following the removal of long-standing dictator Robert Mugabe, expectations for democratisation rose, yet under the leadership of Emmerson Mnangagwa, political repression and abuses have reportedly persisted.

Human rights organisations have consistently critiqued the government's stance towards dissent, alleging systematic attacks on activists and opposition figures. 

Morocco secured victories in the CAF Africa Cup of Nations qualifiers, defeating Gabon 5-1 and Lesotho 7-0, but these results weren't sufficient to hold their position amidst the competition.

According to CAF , Algeria has ascended to fourth in Africa, surpassing Nigeria. During the international break, Nigeria faced disappointing results, with a draw against Benin and a loss to Rwanda, leading to a drop from 36th to 44th globally. Algeria managed a convincing 5-1 win over Liberia, which helped them maintain their global ranking despite a minor point reduction.

Niger made significant gains this month, climbing nine places in the rankings after impressive victories over Sudan (4-0) and Ghana (2-1), resulting in a net gain of 31.23 points. This leap marks Niger as the standout performer among African nations.

Meanwhile, Senegal's position has strengthened, moving up three places to 17th globally, reinforced by victories over Burkina Faso and Burundi. Comoros also continues to impress, climbing five places to reach 103rd worldwide after qualifying for the 2025 Africa Cup of Nations, further highlighting their development on the international football stage.

The updated ranking positions Morocco at the forefront of African football, closely followed by Senegal and Egypt in a highly competitive landscape.

Here are the top 10 countries:

Taiwan

Taiwan tops the list with a score of 78.72 out of 100. The country is praised for its excellent medical infrastructure and the availability of affordable healthcare services.

South Korea

South Korea ranks second, scoring 77.7. The country is known for its advanced medical technology and efficient healthcare delivery systems.

Australia

Australia comes in third with a score of 74.11. It boasts high-quality healthcare services and a robust public health system.

Canada

Canada is fourth on the list, scoring 71.32. The country is recognised for its universal healthcare system and high standards of medical care.

Sweden

Sweden ranks fifth with a score of 70.73. It is known for its well-organised healthcare system and strong emphasis on preventive care.

Ireland

Ireland takes the sixth spot with a score of 67.99. The country has made significant investments in healthcare infrastructure and services.

Netherlands

The Netherlands is seventh, scoring 65.38. It is renowned for its efficient healthcare system and high-quality medical services.

Germany

Germany ranks eighth with a score of 64.66. The country offers comprehensive healthcare services and has a strong focus on medical research and innovation.

Norway

Norway is ninth on the list, scoring 64.63. It is known for its excellent healthcare services and high levels of patient satisfaction.

Israel

Israel rounds out the top ten with a score of 61.73. The country is recognised for its advanced medical technology and high-quality healthcare services.

Gallup, a global analytics and advisory firm reported that sub-Saharan Africa has long struggled with low safety perceptions, with confidence in police being below the global average and perceptions of safety have decreased more in this region than anywhere else.

Athlenda Mathe, spokesperson for the South African Police Services, acknowledged these concerns and mentioned efforts to increase police visibility and combat crime.

“We are making inroads in clamping down on all forms of criminality and the main goal is to ensure that we make South Africa a much better and safer place to live in so that people can walk freely,” Mathe was quoted by Voice of America .

The country’s crime statistics are alarming, with over 6,000 murders and 9,000 rapes reported between April and June 2024.

Bartender Gugu Xakaza, 32, shared her experience of being mugged while walking home from the grocery store, which led her to avoid walking alone.

“I’d never walk around these streets, firstly you know because South Africa’s crime status is very high, and also it’s not just safe for a woman to be walking alone at night, because obviously we might be taken advantage of…. so rather be safe than sorry," she said .

Women in South Africa often report feeling less safe than men, adding to the concerns.

South Africa's rand has strengthened against global currencies, trading at approximately R17.24 against the dollar, its best level since July 2023. This surge is expected to lead to further petrol price cuts, with projections indicating a decline in petrol inflation to around -20% year-on-year. As a result, overall inflation, which was at a three-year low of 4.4% in August, could see a reduction by about one percentage point, Media agency Independent Online reports. Despite these changes, Old Mutual's Izak Odendaal noted that the South African Reserve Bank is unlikely to cut interest rates in response to oil price declines, as they focus on the broader economic impacts rather than initial price shocks.

Ramaphosa speaks against apartheid

In his address at the United Nations General Assembly, President Cyril Ramaphosa affirmed South Africa's stance against apartheid, expressing solidarity with those facing oppression. He underscored the UN's vital role in advocating for human rights, the dignity of all individuals, and the need for an immediate ceasefire in the ongoing violence in Palestine. According to SA News , Ramaphosa announced plans for South Africa to submit a case to the International Court of Justice in 2024, accusing Israel of genocide.

South Africa's rand

On September 25, South Africa's rand rose to a 20-month high, trading at 17.22 against the U.S. dollar, marking a 0.3% gain. Analysts attribute this rally to positive sentiment following interest rate cuts by the South African Reserve Bank (SARB) and the U.S. Federal Reserve. Currency strategist Andre Cilliers predicts the rand will likely trade between 17.20 and 17.40. Investors are awaiting August producer inflation figures to gauge easing price pressures. CNBC Africa reported the Johannesburg Stock Exchange's Top-40 index climbed 1.5%, while the yield on South Africa's benchmark 2030 government bond increased slightly to 8.86%.

Electricity prices

Eskom, South Africa’s state-owned power utility, has requested a 36% increase in electricity prices for the 2026 financial year, significantly surpassing the country’s 4.4% inflation rate. This increase is deemed essential for addressing Eskom's financial challenges, including a debt of 400 billion rand (approximately $23 billion), Financial Post report indicates. Although the company has recently experienced fewer power cuts, it struggles with consistent electricity supply and long-term sustainability. Eskom has also proposed smaller price hikes of 11.8% for fiscal 2027 and 9.1% for 2028.

South Africa ranks among least secure nation

A recent Gallup poll indicates that South Africa ranks among the least secure nations, with 70% of citizens feeling unsafe walking alone. The country is in the bottom three globally, alongside Ecuador and Liberia. In contrast, Kuwait, Singapore, and Norway have significantly higher safety perceptions, with only 1% to 8% feeling unsafe. According to Africa.com , consistent low safety perceptions and confidence in police are noted in sub-Saharan Africa. Despite efforts to improve police visibility, South Africa faces high crime rates, including over 6,000 murders and 9,000 rapes reported between April and June 2024.

Despite market fluctuations, huge losses and sometimes gains, these influential figures remain at the forefront of the region's economic growth, establishing and marking their niche among the world's financial elite.

According to the Bloomberg Billionaires Index , which provides a daily ranking of the world’s richest individuals, these are the top ten richest people in Asia.

Mukesh Ambani 

Net worth: $113 billion

Country: India

Leading the list is Mukesh Ambani from India, with a total net worth of $113 billion . Although his wealth recently declined by $850 million, Ambani has experienced a year-to-date increase of $16.2 billion, driven by his vast energy empire. Aside from being the owner of the Mumbai cricket team, Ambani also owns Reliance Industries, which owns the world's largest oil refining complex. The conglomerate also operates in polymer and chemical manufacturing, generating over $100 billion in revenue in the year ending March 2024. He is ranked number 11 on the Bloomberg Billionaire Index.

Gautam Adani 

Net worth: $103 billion

Country: India

Close behind is Indian industrialist Gautam Adani, who has a net worth of $103 billion . Despite a recent dip of $412 million, Adani has seen a substantial gain of $18.4 billion this year. Adani is the chairman of the Adani Group, a conglomerate headquartered in Ahmedabad, with diverse business interests including ports, airports, power generation and transmission, green energy, and oils, amongst others. His group owns the country's largest private port and ranks among the world's biggest coal traders. Adani Enterprises, the group's flagship company, reported revenue of $11.6 billion for the year ending March 31, 2024. Adani is ranked 15 th  on the Bloomberg Billionaire Index.

Zhong Shanshan 

Net worth: $49.5 billion

Country: China

In China, Zhong Shanshan is a businessman known for his diversified ventures, and has a net worth of $49.5 billion , despite experiencing a significant year-to-date loss of $18.2 billion. He is the founder and chairman of Nongfu Spring, a bottled water company that went public on the Hong Kong Stock Exchange in September 2020. Zong is ranked 25 th  on the Bloomberg index.

Tadashi Yanai 

Net worth: $49.0 billion

Country: Japan

Japan's Tadashi Yanai, a prominent figure in the retail sector, has a net worth of $49.0 billion and has seen a considerable rise of $10.6 billion this year. Tadashi Yanai is the founder and president of Fast Retailing, the parent company of Uniqlo, a leading global fashion retailer. With his innovative approach to business and a focus on quality and affordability, Yanai has grown Uniqlo into one of the world's most successful clothing brands. Yanai is ranked 26 th .

Ma Huateng 

Net worth: $44.1 billion

Country: China

Ma Huateng, a leading technology entrepreneur in China, has a net worth of $44.1 billion , reflecting a year-to-date increase of $9.43 billion despite a recent minor decrease. Huateng also doubles as an investor and a co-founder and CEO of Tencent, one of China's largest and most influential technology companies. Tencent is a leader in various sectors, including social media, gaming, fintech, and artificial intelligence. Huateng ranks 32 nd  on the Bloomberg index.

Shapoor Mistry 

Net worth: $42.6 billion

Country: India

Indian industrialist Shapoor Mistry's wealth totals $42.6 billion , with a positive year-to-date change of $7.33 billion. Mistry is the chairman of the Shapoorji Pallonji Group, an engineering and construction conglomerate with a legacy spanning over 150 years. The group is renowned for its contributions to infrastructure and real estate projects both in India and globally. Under his leadership, the company has continued to expand and diversify its operations. Shapoor ranks 33 rd  on the index.

Zhang Yiming 

Net worth: $42.2 billion

Country: China

Zhang Yiming, another tech giant from China, is the founder of Chinese tech giant ByteDance. One of ByteDance’s apps is TikTok. He ranks 34 th  on the Bloomberg list. He maintains a net worth of $42.2 billion , although he has seen a slight decrease of $90 million this year. 

Shiv Nadar 

Net worth: $39.6 billion

Country: India

Shiv Nadar, a technology pioneer in India, holds a net worth of $39.6 billion , experiencing a year-to-date rise of $5.77 billion despite a recent $166 million drop. Shiv Nadar is the founder of HCL Technologies, one of India's leading IT services companies. He is also a prominent philanthropist, focusing on education through the Shiv Nadar Foundation, which has established several institutions aimed at improving access to quality education in India. Nadar ranks 37 th .

Savitri Jindal 

Net worth: $34.9 billion 

Country: India

Savitri Jindal, representing the commodities sector in India, has a net worth of $34.9 billion and has gained $10.2 billion this year.    Jindal  is famously known as the “Iron Lady of Industry.” Aside from her political career, she controls OP Jindal Group which deals in steel, power, cement and infrastructure. Savitri ranks 44 th  on the global index.

Prajogo Pangestu

Net worth: $33.6 billion

Country: Indonesia

Pangestu, with a net worth of $33.6 billion , has seen an increase of $222 million, up by $2.57 billion. He is based in Indonesia and is involved in the energy sector. Pangestu is the founder and chairman of Barito Pacific, Indonesia's largest petrochemical company

In a 2019 report by the World Bank, Latin America did not rank among the top 50 best places to do business globally.

“Economies across Latin America are often still burdened by inefficient and cumbersome business regulations,” said Santiago Croci Downes, Programme Manager of the Doing Business Unit.

However, the economic climate in Latin America improved  with a growth of 3.7 points between the 4th quarter of 2023 and the 1st quarter of 2024.

Despite the changing economic climate in Latin America, billionaires in the region have found ways to stay afloat in business and protect their assets and wealth.

According to the 2024 Bloomberg Billionaires Index , Latin American countries like Mexico and Brazil boast more than two individuals with affluence recognised globally out of 500 wealthy people on the list.

Here is a list of the 10 richest people in Latin America who are driving the vast economy of the Latinos:

Carlos Slim

Net worth: $87.6 billion

Country: Mexico

As the world's richest man between 2010 and 2013, Carlos Slim, a Mexican is currently the richest individual in Latin America with a total net worth of $87.6 billion and the 20th richest person on earth. As the founder of Mexico's conglomerate, Grupo Carso, he has diversified in several businesses including real estate, mining and media. However, the core of his wealth is from his telecommunications company, América Móvil which operates throughout Latin America.

German Larrea Mota-Velasco

Net worth: $34.5 billion

Country: Mexico

German Larrea Mota-Velasco is the CEO of Grupo Mexico, the largest mining company in Mexico. Having taken over the company in 1994, German has grown to amass a net worth of $34.5 billion in 2024. The source of German's money, Grupo Mexico produces nearly a million tonnes of copper annually.

Iris Fontbona and family

Net worth: $32.3 billion

Country: Chile

With a net worth of $32.3 billion , Iris Fontbona and her family rank as the 3rd richest in Latin America and 54th globally. The family's successful copper mining company, Antofagasta based in London raked in $6.3 billion in revenue in 2023. Fontbona and her family control Quiñenco, a Chilean conglomerate involved in banking, beer, and manufacturing and have stakes in Croatia-based Adriatic Luxury Hotels and Chilean television station Canal 13.

Eduardo Saverin

Net worth: $28.1 billion

Country: Brazil

Eduardo Saverin is a Brazilian billionaire entrepreneur and venture capitalist, best known as one of the co-founders of Facebook. His small but valuable less than 5% stake in Meta Platforms is now worth $27 billion, contributing to his substantial wealth of $28.1 billion . He co-founded B Capital, a venture capital firm, in 2015, which focuses on investing in early-stage startups and boasts more than $5 billion in assets under its management.

Jorge Paulo Lemann

Net worth: $24.6 billion

Country: Brazil

Jorge Paulo is the 5th richest individual in Latin America but the 81st globally with a net worth of $24.6 billion . He is a Brazilian billionaire investment banker, businessman, and former tennis player. Lemann co-founded 3G Capital, a global investment firm that owns major brands such as Burger King, Anheuser-Busch, and Heinz. Alongside fellow billionaires Hermann and Sicupira, Lemann holds shares in Anheuser-Busch InBev, the producer of Budweiser, Michelob Ultra, and Stella Artois beers.

Alejandro Santo Domingo and family

Net worth: $14.2 billion

Country: Colombia

Alejandro Santo Domingo's mass wealth of $14.2 billion is acquired from the Colombian conglomerate Santo Domingo Group founded by his father, Julio Mario Santo Domingo. The family is one of the wealthiest in Colombia and has significant investments in various industries, including beverages, media, and real estate. Alejandro is a managing director at Quadrant Capital Advisors and holds board positions in several major companies, such as AB InBev, Bavaria Brewery, and Caracol Televisión and has a minority stake in the NFL's Washington Commanders.

David Vélez

Net worth: $14.1 billion

Country: Colombia

Best known as the co-founder and CEO of Nubank, the world's most valuable digital bank, David Vélez is the 7th richest person in Latin America and the 148th in the world. Vélez founded Nubank in 2013 after experiencing the high fees and bureaucratic hurdles of traditional banking in Brazil. Nubank, headquartered in Sao Paolo, Brazil has since grown to serve over 90 million customers across Brazil, Mexico, and Colombia, giving him a 202 value net of $14.1 billion . The company's parent company, Nu Holdings announced $1 billion in net income for 2023.

Ricardo Salinas

Net worth: $11 billion

Country: Mexico

Ricardo Salinas is the founder and chairman of Grupo Salinas, a conglomerate with interests in telecommunications, media, financial services, and retail. He is also the third richest person in Mexico with a net worth of $11 billion . Salinas began his career at Grupo Elektra, a company founded by his grandfather. Under his leadership, Elektra expanded significantly, targeting lower-middle-class consumers and providing financial products through Banco Azteca. He also chairs TV Azteca, one of the largest producers of Spanish-language television programming.

Marcel Hermann Telles

Net worth: $10.9 billion

Country: Brazil

Marcel Hermann is a co-founder of 3G Capital, a global investment firm, alongside his longtime partners Jorge Paulo Lemann and Carlos Alberto Sicupira. Telles has played a significant role in the beverage industry, particularly through his involvement with Anheuser-Busch InBev, the world's largest beer company, where he is a board member. He also has stakes in Restaurant Brands International, the parent company of Burger King and Tim Hortons. Before co-founding 3G Capital, Telles was a partner at Banco Garantia, a Brazilian investment bank. Currently, Bloomberg reports he has a net worth of $10.9 billion .

Carlos Sicupira

Net worth: $9.45 billion

Country: Brazil

Carlos Alberto Sicupira, also known as Beto Sicupira, is a Brazilian billionaire businessman who is a key partner in 3G Capital, a global investment firm he co-founded with Jorge Paulo Lemann and Marcel Herrmann Telles. Sicupira has significant stakes in major companies such as Anheuser-Busch InBev, Burger King, and H.J. Heinz Company. His business ventures have made him one of the wealthiest individuals in Brazil, with a fortune estimated at $9.45 billion in 2024.

Creating and maintaining substantial wealth in Africa continues to be a formidable challenge. Global investors remain cautious due to concerns about the continent’s stock exchanges, while businesses struggle with economic difficulties, inadequate infrastructure, and fluctuating exchange rates. These factors make it tough to build and sustain a billion-dollar fortune.

The continent’s ever-changing political environment can have a dramatic impact on wealth. Shifts in political conditions can either boost or severely affect the fortunes of Africa’s richest people, adding another layer of complexity to the pursuit and retention of great wealth.

According to The Bloomberg Billionaires Index , which tracks the wealth of the world's richest people, five people from Africa have been featured on this year's list of the top 500 billionaires.

Here’s a look at the top five African billionaires according to the Bloomberg billionaire list:

Johann Rupert

Net worth: $14.3 billion

Country: South Africa

Johann Rupert, 74, the chairman of luxury goods giant Richemont, has seen his net worth soar to $14.3 billion, placing him 147th on the global billionaire list and first in Africa. He has seen a substantial increase in his net worth, jumping by $1.9 billion recently. Richemont owns prestigious brands such as Cartier and Jaeger-LeCoultre.

Aliko Dangote

Net worth: $13.4 billion

Country: Nigeria

The Nigerian industrialist who previously held the top spot for over a decade, now has a net worth of $13.4 billion. Aliko Dangote, 67, ranks 159th globally. Dangote’s fortune has declined due to challenges in Nigeria’s economic environment, which have negatively affected his business empire. His wealth mainly comes from his stake in Dangote Cement, as well as investments in sugar, flour, and the ambitious Dangote Refinery in Lagos.

Nicky Oppenheimer

Net worth: $11.3 billion

Country: South Africa

At 79, Nicky Oppenheimer has a net worth of $11.3 billion, positioning him 213th in the world. The former De Beers stakeholder who sold his family’s 40% stake in De Beers for $5.2 billion in 2012, continues to invest through Stockdale Street, focusing on private equity in Africa, Asia, the US, and Europe.

Natie Kirsh

Net worth: $9.22 billion

Country: South Africa

Natie Kirsh, 92, controls the Kirsh Group and has a net worth of $9.22 billion, placing him 286th globally. He controls the Kirsh Group and holds a majority stake in Jetro Holdings, which operates Jetro Cash & Carry and Restaurant Depot in over 30 US states. His investments span private equity and property across four continents.

Naguib Sawiris

Net worth: $7.32 billion

Country: Egypt

Naguib Sawiris holds a net worth of $7.32 billion and is ranked 390th on the global list. The 70-year-old Sawiris, through his Luxembourg-based company D La Mancha Resources, has significant stakes in gold mining companies like Evolution Mining and Endeavor Mining. He previously raised over $4 billion from selling his stake in Vimpelcom.

His 23 per cent stake heavily influences Musk’s fortune in Tesla, the electric car company where he serves as CEO. Tesla's market value dramatically increased in 2020 and 2021, helping Musk reach a peak net worth of $320 billion in November 2021. Today, a substantial portion of his wealth remains linked to Tesla’s success.

Beyond Tesla, Musk is also the CEO of SpaceX, which NASA contracts for resupply missions to the International Space Station.

He also made headlines in October 2022 with his $44 billion purchase of Twitter, now known as X.

The Bloomberg Billionaires Index tracks the wealth of the world's richest people.