The net worth of Africa’s richest man and President of the Dangote Group, Aliko Dangote, now stands at $30.2 billion, according to a report by the Bloomberg Billionaires Index.
This represented an increase of $2.25 billion year-to-date, which was supported by gains in his cement, oil, and fertiliser businesses, according to the report.
The Bloomberg data placed Dangote as the 75th richest person in the world.
The group owns the largest cement producer in sub-Saharan Africa, Dangote Cement Plc, and the Dangote Oil Refinery, Africa’s biggest oil refining complex, which began operations in early 2024 after more than a decade of development.
The Dangote Oil Refinery, valued at $20 billion, remains his most valuable asset. Dangote owns a 92.3 per cent stake in the refinery, which has been key to the recent rise in his net worth.
Dangote’s fortune is tied primarily to his Lagos-based conglomerate, Dangote Industries Limited, which holds stakes in multiple listed and private companies across the industrial and consumer sectors.
The Dangote Group recently took its investment on the continent to a greater level with the commencement of a $2.5 billion joint urea fertiliser plant in Gode, Ethiopia, with a capacity to produce three million metric tons of the product per annum (mtpa).
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Dangote said the project, a partnership between the Dangote Group and the Ethiopian Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia, would make the country the biggest agricultural nation on the African continent.
