Africa’s richest man Aliko Dangote sees net worth rebound to $29 billion

A few weeks after his fortune took a sharp dip, Africa’s richest man, Aliko Dangote, is seeing his wealth climb again. The founder of Dangote Group has watched his net worth rise back to $29 billion, putting him within reach of crossing the $30 billion mark, according to the Bloomberg Billionaires Index.

In mid-August, Dangote’s fortune slipped by more than $500 million, falling from $29.3 billion to $28.7 billion, largely on shifts in the market value of stakes in his publicly listed companies. Since the start of September, however, the tide has turned. Bloomberg data shows his wealth has added about $300 million in the past month, pushing him back to the $29 billion level.

Dangote net worth climbs on cement

The rebound is tied to the performance of his controlling 87.45 percent stake in Dangote Cement, Africa’s largest cement producer. Shares of the company have strengthened on the Nigerian Exchange, lifting its market capitalization above $5.8 billion.

Dangote’s stake in the cement firm is now valued at about $5.18 billion. The boost has come as the naira shows signs of stabilizing against the U.S. dollar, easing some of the pressure on Nigerian equities.
With his net worth at $29 billion, Dangote has gained about $902 million so far this year. He ranks as the world’s 75th richest person and continues to lead Africa’s billionaire list, well ahead of South Africa’s Johann Rupert, worth $17.1 billion, and Nicky Oppenheimer, at $13.2 billion.

The cement giant, Dangote Cement, has also underpinned his wealth with strong operating results, reporting revenue of N2.07 trillion ($1.35 billion) for the first half of 2025, up 17.7 percent year-on-year while profit after tax more than doubled to N520.46 billion ($340.27 million).

Dangote’s empire spans oil, fertilizer, real estate
Beyond his publicly listed holdings in Dangote Cement, Dangote Sugar Refinery and Nascon Allied Industries, much of his fortune rests in private businesses. His $20 billion Dangote Oil Refinery, which began operations in 2024, accounts for an $18.6 billion portion of his wealth.

His fertilizer operations are valued at $3.02 billion, while oil mining licenses OML 71 and 72 are estimated at a combined $497 million. Bloomberg also values his private jet fleet at $76 million, real estate in Lagos at $148 million, land in the Lekki Free Trade Zone at $100 million, and cash holdings of about $744 million.

Dangote Refinery expands fuel deliveries, exports
The Lagos-based refinery, Africa’s largest, is steadily ramping up operations. It has begun delivering petrol to 11 Nigerian states and has deployed 4,000 compressed natural gas trucks capable of moving 65 million liters daily. Dangote has said the effort could save Nigeria more than N1.7 trillion ($1.13 billion) annually in fuel costs and generate 15,000 jobs.

Between June and early September, the refinery shipped more than 1.1 billion liters of petrol to local and overseas buyers. Two weeks after its first gasoline cargo arrived in the United States, two additional shipments followed, underlining the refinery’s growing role in global fuel markets.

(Billionaires Africa)