Aliko Dangote, Africa’s richest man, has seen his net worth soar to $30 billion as of October 23, 2025, according to Bloomberg’s Billionaires Index.
This milestone reflects a $2.16 billion year-to-date increase in his fortune, with a recent $430 million valuation gain contributing to the surge.
Just days earlier, Dangote’s net worth stood at $29.8 billion; only $200 million shy of the mark.
The impressive rise aligns with the expansion of his industrial empire, particularly the completion of a $160 million cement plant in Attingué, about 30 km north of Abidjan, Côte d’Ivoire.
The 50-hectare facility boasts an annual capacity of three million metric tonnes, making it one of Dangote Cement’s largest sites outside Nigeria.
With the new plant, the company’s total installed capacity across Africa now stands at approximately 55 million tonnes per year, spread across 11 countries.
Dangote also has his eyes set on the oil sector, announcing plans to more than double his refining operations to 1.4 million barrels per day. This expansion would see the Dangote Group surpass the output of the world’s current largest refinery in Jamnagar, India, which produces 1.36 million barrels per day.
Reports further suggest that within the next year, Dangote Refinery plans to sell between 5% and 10% of its shares on the Nigerian Exchange (NGX) Limited.
Since the launch of the $20 billion Dangote Oil Refinery in May 2023: which began operations in October of that year with a production capacity of 370,000 barrels of diesel and jet fuel daily; Dangote’s wealth trajectory has been notably dynamic.
In October 2023, shortly after the refinery’s commissioning, Bloomberg ranked him as the 81st richest person globally, with a net worth of $20.4 billion. However, his fortune experienced fluctuations before rebounding dramatically.
At the start of 2024, South African billionaire Johann Rupert briefly overtook him as Africa’s richest man, boasting $10.3 billion compared to Dangote’s $9.5 billion. Dangote soon reclaimed the top spot, with his net worth surpassing $20 billion by late January 2024 after a +$282 million valuation jump and a year-to-date gain of $6.91 billion.
Although market fluctuations saw his fortune dip mid-2024—dropping from $13.8 billion in July to $13 billion in October—Dangote’s wealth rebounded strongly to $27.8 billion by the end of the year.
By August 2025, his net worth had climbed to $29.3 billion, and now, as of October, the Nigerian industrialist has officially entered the $30 billion club.
Dangote’s continued rise underscores his expanding influence across Africa’s industrial landscape—from cement to oil refining—solidifying his position as not only the continent’s richest man but also one of its most transformative business figures.
