Aliko Dangote Approaches $30 Billion Net Worth Milestone

Nigerian billionaire Aliko Dangote is nearing a significant financial milestone, with his net worth reaching $29.6 billion as of October 13, 2025, according to Bloomberg’s Billionaires Index. This figure places him just $400 million shy of becoming the first African billionaire to surpass the $30 billion mark in modern history.

In August 2025, reports indicated that Dangote was $700 million away from this milestone. His recent financial growth reflects a substantial increase of $401 million in a short period, alongside a year-to-date gain of $1.51 billion. The surge in his net worth is attributed mainly to developments in his cement and oil businesses.

Expansion of Cement Operations

Dangote has made notable investments in his cement business, including the recent opening of a $160 million plant in Attingue, approximately 30 kilometers north of Abidjan in Côte d’Ivoire. This facility spans 50 hectares and boasts an annual production capacity of three million metric tonnes, marking it as one of the largest operations for Dangote Cement outside Nigeria.

With this new addition, the company now operates a total of 11 plants across Africa, contributing to a combined annual capacity nearing 55 million tonnes. Despite a strong focus on cement, Dangote’s wealth is also significantly influenced by his oil refinery.

Impact of the Dangote Oil Refinery

The Dangote Oil Refinery, which commenced production in October 2023, has been a pivotal factor in enhancing Dangote’s financial standing. The refinery produces approximately 370,000 barrels per day of diesel and jet fuel, further diversifying his business interests.

In May 2023, Bloomberg ranked Dangote as the 81st richest person in the world, with a net worth of $20.4 billion. By late January 2024, his valuation had surpassed $20 billion once again, reflecting an increase of $282 million and a year-to-date gain of $6.91 billion.

However, his net worth experienced fluctuations, including a reported loss of $1 billion in July 2024, bringing his fortune down to $13.8 billion. Despite these ups and downs, by October 2024, his net worth climbed back to $27.8 billion. At the start of 2025, he was estimated to have $28.1 billion, but by mid-year, his wealth had adjusted to $27.7 billion.

As of August 2025, Bloomberg’s index reported that Dangote’s fortune had increased to $29.3 billion, reflecting the volatile nature of high-net-worth individuals’ fortunes, which are often subject to market conditions. With his current trajectory, Aliko Dangote stands on the brink of achieving a remarkable financial feat in the coming months.