Aliko Dangote’s Net Worth Rises to Highest Level in History, Forbes Release New Ranking
- Forbes' real-time billionaire tracker placed Dangote's fortune at $51.3 billion, ranking him 36th among 3,397 billionaires worldwide
- The surge in Dangote's wealth comes as his refinery launched a public share offering of 4.1 billion shares priced at N525 each
- Bloomberg estimated the IPO could add as much as $22.9 billion to Dangote's personal wealth, potentially pushing him past Ken Griffin and Eric Schmidt
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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.
Aliko Dangote, Africa’s richest man, has reached his highest-ever recorded net worth after Forbes released its latest ranking of the world’s billionaires.
According to Forbes’ real-time billionaire tracker, Dangote’s fortune rose to $51.3 billion, placing him among the 40 richest people in the world.
Source: UGC
The latest figure represents a sharp increase from the $31.5 billion Forbes recorded for Dangote on September 4.
The Nigerian industrialist ranked 36th globally in the latest Forbes ranking, which tracks 3,397 billionaires worldwide.
Dangote’s fortune has also more than doubled from the $25.6 billion recorded at the end of 2025.
Dangote’s wealth jumps as refinery shares go on offer
The increase in Dangote’s fortune comes as his Dangote Refinery begins its public share offering, giving investors an opportunity to buy into one of Africa’s largest industrial projects.
The refinery’s public offer opened on September 14 and comprises 4.1 billion shares priced at N525 each.
Investors can subscribe for a minimum of 10 shares, costing N5,250, while the offer is expected to close on October 13.
The company is seeking to raise about $1.6 billion from the offering, which values the refinery at approximately $47.6 billion based on the offer price.
BusinessDay reports that the shares being offered represent about 3% of the refinery.
Forbes said the refinery’s public offering could further increase Dangote’s wealth as the company opens its ownership to individual investors.
Forbes said in a report on Monday:
“There’s likely more riches coming his way as his refinery, the continent’s largest, begins selling shares to individual investors."
Forbes ranking differs from Bloomberg estimate
While Forbes puts Dangote’s wealth at $51.3 billion, Bloomberg’s Billionaires Index estimated his fortune at $35.3 billion on Monday.
The difference reflects the methodologies used by the two organisations to value billionaires’ assets.
Bloomberg estimated that Dangote’s wealth could rise to as much as $58.2 billion following the refinery’s public offering.
According to Bloomberg calculations, the IPO could add as much as $22.9 billion to Dangote’s personal wealth.
Forbes’ real-time estimates are updated frequently during trading hours to reflect movements in the value of publicly traded assets, while private assets are valued periodically.
Source: Getty Images
Other Nigerian billionaires' net worth and ranking
- 309 - Abdulsamad Rabiu — $11.4 billion
- 584 - Mike Adenuga — $6.9 billion
- 2,241. Femi Otedola — $1.9 billion
Dangote Refinery IPO
Earlier, Legit.ng reported that the initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE drew roughly N1.5 trillion in subscriptions within six hours of opening on the Nigerian Exchange in Lagos on Monday, September 14, 2026, in what is being described as the largest IPO in Africa.
The offer is priced at N525 per share, with a minimum subscription of 10 shares, meaning retail investors can enter for as little as N5,250.
The IPO is targeting up to 10 million retail investors, making it one of the most accessible major equity offerings Nigeria has seen.
Source: Legit.ng
