Aliko Dangote’s net worth surges, now $200 million shy of $30 billion

Africa’s richest man, Aliko Dangote, is within reach of a rare milestone. A steady rise in the value of his companies on the Nigerian Exchange and a stronger naira have pushed his estimated fortune to $29.8 billion, putting him just $200 million short of the $30 billion mark, according to the Bloomberg Billionaires Index.

The 67-year-old industrialist, who built his fortune from cement, sugar, and most recently oil refining, has gained about $1.72 billion this year. His wealth stood at $28.1 billion at the start of 2025 and has since climbed alongside renewed investor confidence in his listed firms and Nigeria’s currency recovery.

Dangote’s billion-dollar cement empire thrives

Much of the gain comes from Dangote’s controlling 87.45 percent stake in Dangote Cement Plc, Africa’s largest cement producer. The company’s shares have risen sharply this year, lifting its market value above $6.8 billion. His stake alone is now worth about $5.9 billion. The surge follows the group’s strong financial performance and consistent dividend payout.

Dangote Cement reported a 17.7 percent rise in revenue to N2.07 trillion ($1.35 billion) in the first half of 2025, compared with N1.76 trillion ($1.15 billion) a year earlier. Net income jumped 174 percent to N520.46 billion ($340 million), underscoring the company’s pricing strength and cost discipline despite slightly lower sales volumes.

Inside Aliko Dangote’s $20 billion private holdings

Beyond his listed companies—Dangote Cement, Dangote Sugar Refinery, and Nascon Allied Industries—much of Dangote’s fortune is tied to privately held ventures. His $20 billion oil refinery which began operations in 2024 and is considered Africa’s largest industrial project represents the bulk of his wealth with a valuation of $18.6 billion.

His fertilizer business adds another $3.02 billion, while oil mining licenses OML 71 and 72 contribute about $497 million. Bloomberg also lists his private jet fleet at $76 million, Lagos real estate at $148 million, landholdings in the Lekki Free Trade Zone at $100 million, and cash and other assets around $744 million.

Dangote’s $30 billion push gains momentum

Dangote’s rise to near the $30 billion mark reflects more than strong stock performance. It highlights his growing dominance in key industries—cement, oil refining and fertilizer—that sit at the heart of Nigeria’s economy. If current trends continue, he could soon become the first African to join the ranks of the world’s wealthiest individuals at the $30 billion threshold.