Africa’s richest man, Aliko Dangote, has officially entered the $30 billion net worth club, according to the Bloomberg Billionaires Index update as of October 23, 2025.
The Nigerian industrialist’s fortune grew by $2.16 billion so far this year, including a recent $430 million boost in valuation that pushed him past the symbolic mark. Just days earlier, Dangote’s wealth stood at $29.8 billion, barely $200 million shy of the milestone.
This remarkable rise aligns with the rapid expansion of the Dangote Group’s industrial footprint, particularly following the completion of a $160 million cement plant in Attingué, about 30 kilometers north of Abidjan, Côte d’Ivoire. The 50-hectare facility boasts an annual production capacity of three million metric tonnes, ranking among Dangote Cement’s largest plants outside Nigeria.
With this addition, Dangote Cement’s total installed capacity across Africa has now reached 55 million tonnes per year, spanning 11 countries.
Beyond cement, Dangote is aggressively expanding his oil refining operations, with plans to more than double output to 1.4 million barrels per day — a move that would eclipse India’s Jamnagar Refinery, currently the world’s largest, with 1.36 million barrels per day.
Reports also indicate that the Dangote Refinery intends to list 5–10% of its shares on the Nigerian Exchange (NGX) within the next year, marking one of the biggest public offerings in Africa’s recent history.
Since launching the $20 billion Dangote Oil Refinery in May 2023, which began operations later that year with an initial capacity of 370,000 barrels of diesel and jet fuel daily, Dangote’s wealth trajectory has been nothing short of dynamic.
In October 2023, Bloomberg ranked him as the 81st richest person in the world, with a net worth of $20.4 billion. His fortune fluctuated over time — at one point falling below $10 billion in early 2024 — but has since rebounded dramatically.
By late January 2024, he had regained the top spot as Africa’s richest man, with his wealth surpassing $20 billion, and despite a brief mid-year dip, his net worth soared again to $27.8 billion by year-end.
Now, as of October 2025, Dangote’s fortune has reached an all-time high of $30 billion, reaffirming his position as not just Africa’s wealthiest man, but also one of the continent’s most transformative business leaders, whose ventures continue to shape Africa’s industrial and economic landscape.
