Africa’s richest man, Aliko Dangote, is closer than ever to the $30 billion mark

As of today, 13th of October, the same index has Dangote’s net worth at $29.6 billion, $400 million away from entering the $30 billion club.

This denotes that the Nigerian billionaire is the closest he has ever been to that mark, and could, before the year runs out, become the first African billionaire in modern history to be worth $30 billion.

It is worth noting that the fortunes of the highest net worth individuals in the world are synonymous with fluctuations, and as such, a decline in Dangote’s wealth is also a possibility.

However, as presently constituted, Bloomberg’s index currently estimates that Dangote’s last change in net worth stands at +$401 million, while the year-to-date change stands at +$1.51 billion.

The increase in Dangote’s fortune coincides with his latest initiative for his cement operations across West Africa, with the commissioning of a $160 million plant in Attingué, about 30 kilometres north of Abidjan, Côte d’Ivoire.

The 50-hectare complex would be able to produce three million metric tonnes per year, making it one of the company’s largest sites outside Nigeria.

According to corporate data, the Attingué facility extends the number of Dangote Cement plants in African countries to 11, increasing the group’s total installed capacity on the continent to nearly 55 million tonnes per year.

While Dangote’s cement remains one of his marquee businesses, it is his oil refinery that has seen his fortunes soar significantly in the last couple of years.

The Dangote Oil Refinery, which was launched in May 2023, began operations in October of the same year, when it was set to commence the production of approximately 370,000 barrels per day (b/d) of diesel and jet fuel.

This figure would, however, drop significantly before spiking again.

The year 2024 began with Johann Rupert as Africa’s richest man, with a net worth of $10.3 billion compared to Dangote’s $9.5 billion.

This would not last as Dangote quickly regained the throne, in an impressive push that saw him outperform the likes of Jeff Bezos and Bill Gates, at the end of the first month of the year.

Late in January 2024, the CEO of the profound Dangote group crossed the $20 billion mark, as his last change in valuation at the time came in at +$282 million, while his year-to-date (YTD) change was a staggering +$6.91 billion.

By July 2024, Bloomberg’s billionaire index had Dangote’s net worth at $13.8 billion, after reports indicated that he had lost a billion dollars.

By the beginning of 2025, Dangote was worth approximately $28.1 billion on Bloomberg’s index.

In the middle of the year, Dangote’s net worth was at $27.7 billion, with a YTD change of -$400 million, while an April snapshot had Dangote’s YTD change at only +$153 million, highlighting how volatile these headline figures can be when markets, currencies, and company performance shift.

By August 2025, the Index had Dangote’s net worth at $29.3 billion, where it was reported that he was $0.7 billion shy of the $30 billion mark.