Abdul Samad Rabiu, Nigerian businessman and founder of BUA Group, has reportedly overtaken Johann Rupert to become Africas second richest person, according to the latest figures from the Bloomberg Billionaires Index.Rabius fortune is reported to have climbed to $18.6 billion, placing him 138th on the global wealth rankings after gaining approximately $8.47 billion since the start of the year.The surge in wealth has been linked to stronger market valuations across his industrial businesses, particularly in cement, food production and manufacturing. Recent estimates had placed Rabius fortune at around $15.9 billion, highlighting the rapid growth recorded in recent months.According to Bloombergs latest rankings, Ruperts net worth fell to $17.9 billion after he reportedly lost about $1.76 billion this year, moving him to 153rd position globally. The latest figures place Rabiu behind only Aliko Dangote among Africas wealthiest individuals.Dangote retained his position as Africas richest man with an estimated fortune of $34.4 billion, ranking him 66th globally after adding roughly $4.38 billion to his wealth in 2026. Bloombergs rankings as of May 7 did not include other Nigerian billionaires such as Mike Adenuga or Femi Otedola among the worlds 500 richest individuals.Adenugas fortune was reportedly estimated at $6.5 billion, while Otedolas net worth stood at around $1.3 billion. Otedola previously sold his majority stake in Geregu Power Plc in a N1.088 trillion transaction financed by a consortium of banks led by Zenith Bank Plc in 2025.Earlier this year, Forbes also identified Rabiu as one of Africas biggest billionaire gainers after his fortune reportedly rose by about $6.1 billion over a one year period.The post BUA group founder Abdul Samad Rabiu now second wealthiest African as net worth hits $18.6bn appeared first on Linda Ikeji Blog.