Lagos, Nigeria — Aliko Dangote, Africa‘s richest man, saw his net worth rise to $34 billion on a single-day gain of $216 million, according to the latest update on the Bloomberg Billionaires Index.
Okay News reports that the increase, which represents a 0.6% daily gain, brings Dangote‘s year-to-date wealth growth to 13.3%, reflecting sustained investor confidence in assets tied to his conglomerate, Dangote Industries.
At the centre of Dangote‘s wealth portfolio is the Dangote Oil Refinery, Africa‘s largest refining facility, which began operations in early 2024 after more than a decade of construction. Bloomberg estimates his 92.3% stake in the refinery at about $20 billion, based on its reported development cost and capacity profile. Beyond oil, Dangote‘s stake in Dangote Cement, the continent’s largest cement producer, remains a key contributor to his fortune. He holds an estimated 86% ownership in the publicly listed company, alongside significant stakes in Dangote Sugar, Nascon Allied Industries, and other industrial subsidiaries listed on the Nigerian Exchange.
His broader portfolio also includes a large-scale fertiliser plant with capacity to produce up to 2.8 million tonnes of urea annually, alongside operations in food processing, salt, packaging, and agriculture. These assets are valued using a mix of investment cost benchmarks and independent valuation models. Dangote‘s wealth structure also includes privately held businesses and real estate assets in Lagos, valued using rental income and capitalisation-based assessments, in addition to cash holdings in naira and US dollars.
In October 2025, It was reported that Dangote‘s net worth climbed to $30.2 billion, according to the Bloomberg Billionaires Index. The figure reflected an increase of $2.25 billion year-to-date, supported by gains in his cement, oil, and fertiliser businesses. The Bloomberg data also showed that Dangote‘s wealth rose by $89.2 million in 24 hours, cementing his position as the 75th richest person in the world at the time. He is now the 69th richest person in the world.
Dangote built his empire from a small commodity trading business founded in 1977 with a loan from his uncle. He later transitioned from trading to manufacturing in the late 1990s after studying industrial models in Brazil, a shift that led to the creation of one of Africa‘s largest industrial conglomerates. Today, Dangote Group‘s listed companies account for a significant share of market capitalisation on the Nigerian Exchange.
