Unlike publicly-traded business owners, the personal wealth of heads of state is rarely public information. Any figures are often based on journalistic investigations, historical data, and analysis of publicly declared assets, which may not represent their full financial picture.

The accumulation of wealth by some of these leaders is often scrutinized for being acquired through illicit means.

Monarchs like King Mohammed VI generally have inherited wealth tied to state assets, while presidents’ wealth is typically accumulated through different means.

1. King Mohammed VI (Morocco)

Estimated Net Worth: $5.7 billion

Source of Wealth: Inherited fortune and significant business holdings, including a controlling stake in the Société Nationale d’Investissement (SNI).

In 2015, Forbes estimated the King’s net worth at $5.7 billion.

King Mohammed VI inherited 35% of SNI from his father King Hassan. This holding company owns stakes in Morocco’s largest bank Attijariwafa, Managem Group mining, Cosumar sugar, and Centrale Danone dairy. Forbes recently increased their estimate of the king’s wealth after discovering new information about SNI’s asset values.

2. Teodoro Obiang Nguema Mbasogo (Equatorial Guinea)

Estimated Net Worth: $600 million

Source of Wealth: Natural resources, notably oil reserves. The accumulation of his wealth has been controversial, with US government seizures of his son’s assets.

Teodoro Obiang Nguema Mbasogo has ruled oil-rich Equatorial Guinea since overthrowing his uncle in a 1979 coup. While recent wealth estimates are scarce, Forbes previously valued his fortune at $600 million (£445m).

Luxury runs in the family. In 2016, his son Teodoro ‘Teodorín’ Nguema Obiang, the country’s vice president, had 26 luxury cars seized by Swiss authorities during a corruption probe. The collection—including Ferraris, Bentleys, Lamborghinis, and a Bugatti Veyron—later sold at auction for $27 million. Recently, the VP lost several properties to seizure, including a Malibu estate whose sale funded COVID-19 vaccines in Equatorial Guinea.

3. William Ruto (Kenya)

Estimated Net Worth: $500 million

Source of Wealth: Business ventures and investments predating his presidency.

In September 2022, William Ruto took Kenya’s highest office, stepping into the shoes of Uhuru Kenyatta. While Ruto might not match his predecessor’s staggering $500 million (£370m) fortune, his own $400 million (£296m) wealth still places him squarely in the exclusive club of the planet’s richest leaders.

His wealth stems primarily from real estate, including Nairobi’s Weston Hotel and properties worth over $24 million in Mombasa and Mara. He also holds shares in Africa Merchant Assurance Company (AMACO).

4. Paul Kagame (Rwanda)

Estimated Net Worth: $400–$500 million

Source of Wealth: Control over key sectors of Rwanda’s economy through his business holdings.

Rwanda’s President since 2000, Paul Kagame ended the genocide that killed over a million people. While driving Rwanda’s economic revival toward becoming ‘Africa’s Singapore,’ his leadership has also suppressed dissent.

Reports from 2012 revealed Kagame and the Rwandan Patriotic Front control Rwanda’s economy via Crystal Ventures, a holding company with $500 million in assets spanning private jets to the nation’s largest milk processor. Kagame, Crystal Ventures’ chairman, allegedly holds a personal worth of $500 million.

5. Cyril Ramaphosa (South Africa)

Estimated Net Worth: $450 million

Source of Wealth: Acquired through a successful business career before entering politics.

Following a July 2023 pay bump, South African President Cyril Ramaphosa now pockets around $177,000 (£131k) annually. While this salary towers at nearly 18 times what the average South African household brings home, there’s a twist – Ramaphosa has reportedly been directing half of his presidential earnings to charitable causes since taking office in 2018.

Ramaphosa resigned as Shanduka Group chairman in 2015 to avoid conflicts of interest, selling his stake a year later. Forbes valued his net worth at $450 million in 2015, with current worth unknown. He faced scrutiny after $4 million cash was discovered at his farm during an alleged burglary, but was later cleared by a public watchdog.

6. Abdel Fattah el-Sisi (Egypt)

Estimated Net Worth: ~$300 million

Source of Wealth: Not explicitly detailed, though his wealth is reported by several sources.

President Abdel-Fattah al-Sisi stands as Egypt’s most powerful figure.

7. Paul Biya (Cameroon)

Estimated Net Worth: $200 million

Source of Wealth: Allegedly accumulated during his decades in power.

Back in 2009, ForeignPolicy.com pegged President Paul Biya’s fortune at a staggering $200 million. But is that the whole story? Social media users have raised eyebrows at this figure, with some suggesting his wealth might actually reach an eye-watering $500 million.

8. King Mswati III (Eswatini)

Estimated Net Worth: $100 million

Source of Wealth: His salary is paid from government coffers, with some controversy over lavish spending.

King Mswati III, Africa’s last absolute monarch, has elusive wealth. Forbes estimated $200 million in 2008, at least $50 million in 2014, with recent reports suggesting up to $100 million (£80m). He is renowned primarily for his numerous wives (at least 15) and extravagant festivities.

9. Emmerson Mnangagwa (Zimbabwe)

Estimated Net Worth: $100 million

Source of Wealth: Believed to be accumulated during his time in government positions.