Aliko Dangote, Africa’s richest man and president of the Dangote Group, has seen his net worth rise to $30.2 billion, according to the Bloomberg Billionaires Index. This represents a year‑to‑date increase of $2.25 billion, driven largely by gains in his cement, oil and fertiliser businesses. The boost in wealth has lifted Dangote to the 75th spot on the list of the world’s richest individuals.
The Dangote Group’s diverse portfolio includes Dangote Cement Plc, the largest cement producer in sub‑Saharan Africa, and the Dangote Oil Refinery, Africa’s biggest oil‑refining complex. Valued at $20 billion, the refinery remains Dangote’s most valuable asset, with him holding a 92.3 % stake. The refinery, which began operations in early 2024, has been instrumental in the recent surge in Dangote’s net worth. His fortune is closely tied to his Lagos‑based conglomerate, Dangote Industries Limited, which holds stakes in multiple listed and private companies across various sectors.
The group has recently expanded its African investments with the launch of a $2.5 billion joint urea fertiliser plant in Gode, Ethiopia. This partnership between the Dangote Group and Ethiopian Investment Holdings aims to produce three million metric tons of fertiliser per annum. Dangote believes the project will help make Ethiopia the largest agricultural nation in Africa, and the investment is expected to have a profound impact on the country’s agricultural industry.
As the Dangote Group continues to diversify its portfolio and expand operations across Africa, its founder’s net worth is likely to remain a topic of interest. With business interests spanning multiple sectors, Dangote’s influence on Africa’s economic landscape is substantial, and the latest increase in his wealth underscores the group’s growing presence in the region.
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