Aliko Dangote has made history as the first African to achieve a net worth of $30 billion, reaching this milestone on October 23, 2025, according to the Bloomberg Billionaires Index.
This significant financial leap was driven by a year-to-date increase of over $2 billion, largely fueled by the aggressive expansion of his industrial empire.
A key contributor to this surge was the inauguration of a $160 million cement grinding plant in Attingué, Côte d’Ivoire, which has bolstered Dangote Cement’s total continental capacity to 55 million metric tonnes across 11 countries.
The Nigerian billionaire’s wealth trajectory has been closely tied to the successful scaling of the $20 billion Dangote Petroleum Refinery in Lagos. Looking ahead, Dangote has announced ambitious plans to more than double the refinery’s capacity to 1.4 million barrels per day, which would make it the largest refining facility in the world.
To further support this growth and broaden ownership, the group intends to list a portion of the refinery’s shares on the Nigerian Exchange within the next year, potentially offering between 5% and 10% to investors.
This recent peak follows a period of notable volatility; in early 2024, Dangote briefly lost his title as Africa’s wealthiest person to South African Johann Rupert before a dramatic rebound. His current standing as the 75th richest person globally underscores his transformative role in the African economy, particularly through his dominant presence in the cement, oil, and fertilizer sectors.
