Dangote’s Net Worth Hit $30 Billion, First African in History
- Aliko Dangote has become the first African to surpass a $30 billion net worth with his fortune rising to $30.3 billion
- The surge follows the launch of Dangote Cement’s new $3 million-tonne-per-year plant in Côte d’Ivoire
- There are expectations that Aliko Dangote's net worth will hit $100 billion when his refinery is listed on NGX
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Africa’s wealthiest man, Aliko Dangote, has finally crossed a net worth of $30 billion, the first time any African has achieved such a feat.
According to the Bloomberg Billionaires Index, Dangote increased by $2.25 billion to $30.3 billion as of October 24, 2025, ranking him 73rd among the world’s richest individuals.
Source: Getty Images
The latest surge in Dangote’s wealth follows the recent commissioning of Dangote Cement’s new 3-million-tonne-per-year plant in Attingué, Côte d’Ivoire.
Built on a 50-hectare site, the factory represents one of the conglomerate’s biggest investments outside Nigeria and strengthens its footprint across West Africa.
In Nigeria, Dangote continues to solidify his presence in the energy sector through his $20 billion refinery in the Ibeju-Lekki Free Zone, Lagos.
The 650,000-barrel-per-day facility, inaugurated in May 2023, started producing diesel in January 2024 and commenced petrol output in September 2024 after earlier setbacks linked to crude supply issues.
Plans to list refinery and boost capacity
The billionaire industrialist has revealed plans to float between 5% and 10% of the refinery’s shares on the Nigerian Exchange (NGX) within the next year, a strategy similar to that used for his cement and sugar businesses.
Speaking in an interview with S&P Global, Dangote said the planned listing is part of a broader strategy to deepen investor participation and align the refinery with global corporate governance standards.
He said:
“Our business concept is changing. Instead of being 100 per cent Dangote-owned, we’ll now have other partners.
“We don’t plan to keep more than 65 to 70 percent. Shares will be sold gradually, depending on how interested investors are and how the market performs.”
Analysts expect Dangote's wealth to soar to $100 billion when the refinery shares are finally put on public trading.
Source: Facebook
10 richest men in the world
At the top of the global rich list, Elon Musk remains the world’s richest person with a net worth of $451 billion, despite an $11 billion decline in recent days.
He is followed by Oracle’s Larry Ellison, whose wealth rose to $343 billion after a $2.82 billion gain, and Meta’s Mark Zuckerberg, now worth $260 billion following a $1.52 billion increase.
Other leading billionaires include Jeff Bezos ($247 billion), Larry Page ($227 billion), Sergey Brin ($212 billion), Bernard Arnault ($195 billion), Steve Ballmer ($180 billion), Jensen Huang ($162 billion), and Michael Dell ($159 billion).
Imported petrol now cheaper
Earlier, Legit.ng reported that the Major Energies Marketers Association of Nigeria (MEMAN) disclosed this in a recent publication.
MEMAN data shows the landing cost declined from N849.61 per litre on October 13 to N839.97 by October 21, 2025, its lowest in months.
The current landing cost is lower than the price sold by Africa’s largest refinery, Dangote Refinery.
Source: Legit.ng
