Dangotes net worth rises to 29.3 billion, nearing 30 billion milestone and reinforcing his status as Africas richest man.
Publicly traded shares, especially Dangote Cement and Dangote Sugar, are driving a 1.23 billion year-to-date gain.
Dangote Refinery appoints ex-Shell executive David Bird as CEO ahead of planned public listing to attract global investment.
Just days after his wealth was estimated at nearly 29 billion, Aliko DangoteAfricas richest manis now edging even closer to a historic milestone. Updated figures from the Bloomberg Billionaires Index show that Dangotes net worth has risen to 29.3 billion, placing him within striking distance of becoming the first African to be worth 30 billion.
The fresh estimate comes on the heels of a shift in Dangotes focus. He recently stepped down as chairman of Dangote Cement Plc , his flagship company, to concentrate fully on his 20 billion oil and petrochemical complexDangote Petroleum Refinery and Petrochemicals. Since then, his fortune has continued to climb, rising from under 28 billion last week to its current level.
Dangotes wealth rises 1.23 billionThis upward swing is largely tied to the strong performance of his publicly traded companies, especially Dangote Cement, which is the continents biggest cement producer. Bloomberg reports that Dangotes wealth has grown by 1.23 billion so far this year, making him one of only a few African billionaires to see such a sharp increase in 2025.
Others on that short list include Egypts Naguib Sawiris, whose net worth has jumped by 1.88 billion this year, and South Africas Johann Rupert, who has gained 1.44 billion. But Dangote remains firmly in the lead and is now ranked the worlds 72nd richest person.
Public shares push wealth higherWhile the bulk of his wealth is tied up in the refinerywhere he holds a 92.3 percent stakeits his shares in publicly listed companies like Dangote Cement and Dangote Sugar Refinery that are helping push his fortune higher. Shares in Dangote Cement have gained 20.5 percent this year, while Dangote Sugar Refinery has soared more than 90 percent.