Aliko Dangote Becomes First African To Reach $30 Billion Net Worth
Aliko Dangote, Africa’s richest man, has officially reached a net worth of $30 billion as of October 23, 2025, according to Bloomberg’s Billionaire Index.
The milestone reflects a $2.16 billion increase in his wealth this year, including a recent $430 million valuation gain. Just days earlier, Dangote’s fortune stood at $29.8 billion, only $200 million shy of the $30 billion mark.
The surge is largely driven by the expansion of his industrial ventures, particularly the completion of a $160 million cement plant in Attingué, about 30 km north of Abidjan, Côte d’Ivoire. Spanning 50 hectares with an annual production capacity of three million metric tonnes, the facility is one of Dangote Cement’s largest outside Nigeria. With this addition, the company’s total installed capacity across Africa now reaches approximately 55 million tonnes per year across 11 countries.
Dangote is also focusing on the oil sector, planning to more than double refining capacity to 1.4 million barrels per day, which would surpass the output of the world’s largest refinery in Jamnagar, India. Reports indicate that Dangote Refinery may sell 5–10% of its shares on the Nigerian Exchange (NGX) within the next year.
Since the launch of the $20 billion Dangote Oil Refinery in May 2023—which began operations in October 2023 with a daily production capacity of 370,000 barrels of diesel and jet fuel—Dangote’s fortune has seen significant growth. Shortly after the refinery’s commissioning, Bloomberg ranked him the 81st richest person globally with a net worth of $20.4 billion.
Although he briefly lost the title of Africa’s richest person to South African billionaire Johann Rupert in early 2024, Dangote quickly reclaimed the top spot, surpassing $20 billion by late January 2024. Despite mid-2024 fluctuations, his net worth climbed to $27.8 billion by year-end and $29.3 billion by August 2025, before finally crossing the $30 billion threshold this October.
Dangote’s rise highlights his growing influence across Africa’s industrial sector—from cement to oil refining—solidifying his position as the continent’s wealthiest individual and one of its most transformative business leaders.
