We Did $10bn in 3 Months: Dangote Opens Up on His True Wealth and Why Forbes May Be Wrong
- Aliko Dangote claims his true wealth may surpass current estimates from global wealth trackers
- Dangote’s largest assets, including his refinery and fertiliser businesses, remain privately held and unlisted
- Plans for a historic IPO could dramatically alter perceptions of Dangote's net worth in Africa
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Africa's richest businessman, Aliko Dangote, has sparked fresh conversations about his enormous fortune after declaring that his actual net worth could be far higher than figures published by global wealth trackers.
In a street interview with entrepreneur James Dumoulin, founder of the School of Hard Knocks platform, Dangote revealed that a significant portion of his business empire remains privately held, making it difficult for outsiders to assess his wealth accurately.
Source: Getty Images
When asked about the highest amount he had made in a single year, Dangote gave a striking response.
"Well, first quarter, we did about $10 billion," he said, underscoring the immense scale of his business operations.
"They say I'm worth $38 billion"
The billionaire industrialist also pushed back against estimates from Forbes and other global wealth rankings.
"They say I'm worth $38 billion, but most of our businesses are not listed yet," Dangote said.
"It will come out soon," he added, hinting that the full value of his empire may become more apparent once some of his major companies are publicly traded.
Currently, Forbes estimates Dangote's wealth at $31.6 billion, while the Bloomberg Billionaires Index places it at $40.6 billion.
However, these estimates exclude some of his most prized assets, many of which remain private.
Refinery and fertiliser businesses hold massive value
Among Dangote's most valuable assets is the Dangote Petroleum Refinery, the world's largest single-train refinery.
The group's fertiliser business is also regarded as one of Africa's most valuable industrial ventures.
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These businesses are not yet publicly listed, contributing to the uncertainty surrounding the exact size of Dangote's fortune.
Historic IPO plans take shape
Dangote has repeatedly indicated his intention to list the refinery on the Nigerian Exchange and possibly other African stock markets.
The proposed listing is expected to be one of the biggest in Africa's history, with estimates valuing the refinery at between $25 billion and $30 billion.
Source: Getty Images
Analysts believe such an offering could significantly raise the market value of Dangote's holdings and potentially validate his claim that his wealth exceeds current global estimates.
For now, Dangote remains Africa's richest man, but his latest comments suggest that the true scale of his fortune may only be beginning to emerge.
Dangote gains $1.3 billion in two weeks
Legit.ng earlier reported that Africa’s richest man, Aliko Dangote, is getting richer at a remarkable pace, adding billions of dollars to his fortune within weeks and strengthening his position among the world’s wealthiest individuals.
According to the Bloomberg Billionaires Index, Dangote’s net worth has climbed to an estimated $35.9 billion, marking a sharp rise of over $1 billion in just a few days.
His year-to-date gain now stands at an impressive $5.92 billion, making him one of the best-performing billionaires globally in 2026.
Source: Legit.ng
