Africa’s richest man, Aliko Dangote, has officially become the first African to attain a $30 billion net worth, according to the latest update from the Bloomberg Billionaires Index.
Dangote’s wealth surged by $2.16 billion year-to-date, including a recent gain of $430 million, bringing his total net worth to $30 billion as of October 23, 2025.
Just days before reaching this milestone, the Nigerian business magnate’s valuation stood at $29.8 billion — merely $200 million short of the mark.
This remarkable financial growth coincides with the launch of a $160 million cement plant in Attingué, Côte d’Ivoire, located about 30 kilometers north of Abidjan.
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The 50-hectare facility, capable of producing three million metric tonnes of cement annually, is now one of Dangote Cement’s largest operations outside Nigeria.
The new plant boosts the company’s total production capacity across Africa to roughly 55 million tonnes per year, spanning 11 countries.
Dangote’s business expansion isn’t limited to cement. The billionaire has also announced plans to double his oil refining capacity to 1.4 million barrels per day, positioning the Dangote Refinery to surpass the output of the world’s largest refineries, including India’s 1.36 mbpd Jamnagar Refinery.
Reports further suggest that within the next year, 5–10% of Dangote Refinery shares could be listed on the Nigerian Exchange (NGX).
Since the launch of the Dangote Oil Refinery in May 2023, his fortune has experienced several fluctuations.
When the refinery began operations later that year, producing around 370,000 barrels of diesel and jet fuel daily, Bloomberg ranked Dangote as the 81st richest person globally, with a net worth of $20.4 billion.
Though his wealth briefly dipped afterward, Dangote rebounded strongly in 2024. He surpassed Johann Rupert — who started that year as Africa’s richest man — reclaiming the top spot after an extraordinary $6.91 billion year-to-date gain by January’s end.
Over the past two years, Dangote’s fortune has grown dramatically, climbing from $13.8 billion in mid-2024 to $27.8 billion by October 2024, and now crossing the historic $30 billion threshold in 2025.
This milestone cements Dangote’s status as not only Africa’s wealthiest person but also a global business icon whose industrial ventures continue to shape the continent’s economic landscape.
