Aliko Dangote’s net worth climbs to $29.7 billion

Africa’s richest man, Aliko Dangote, is closing in on a new milestone after another strong year for his industrial empire. His net worth has risen to $29.7 billion, according to the Bloomberg Billionaires Index, keeping him within sight of the $30 billion mark.

Bloomberg data shows that Dangote’s fortune has grown by $1.6 billion since the start of 2025 rising from $28.1 billion to its current level. The recent gain includes a $700 million boost in October, driven by the performance of his controlling 87.45 percent stake in Dangote Cement, Africa’s largest cement producer.

Dangote Cement shares jump 22 percent in 2025

Shares of Dangote Cement have risen about 22 percent on the Nigerian Exchange this year, pushing its market capitalization to N9.7 trillion ($6.6 billion). His stake alone is now valued at N8.5 trillion ($5.8 billion). Investors have been betting on another strong quarter after the company’s solid half-year results, when revenue grew 17.7 percent year-on-year to N2.07 trillion ($1.35 billion), and profit more than doubled to N520.46 billion ($340.27 million).

Beyond cement, much of Dangote’s wealth comes from private holdings across oil, fertilizer, and real estate. His $20 billion Dangote Oil Refinery represents about $18.6 billion of his net worth. His $20 billion oil refinery, which began operations in 2024, contributes about $18.6 billion to his fortune. Estimates place the combined value of his oil mining licenses, OML 71 and 72, at $497 million, and his fertilizer plant at $3.02 billion. According to Bloomberg, he also has a fleet of private jets worth $76 million, real estate holdings in Lagos worth $148 million, land in the Lekki Free Trade Zone worth $100 million, and roughly $744 million in cash.

Femi Otedola says Dangote could be worth $80 billion

While Bloomberg values his net worth at $29.7 billion, Forbes—known for its annual and real-time billionaire rankings—places it lower at $25.3 billion. The gap reflects the different valuation methods used. Forbes applies larger risk discounts to private assets in developing nations where valuation is frequently complicated by fluctuating macroeconomic conditions and currency volatility.

Earlier this year, his longtime friend and fellow billionaire Femi Otedola jokingly claimed at his daughter’s wedding that Dangote’s real fortune could exceed $80 billion. Whether in jest or not, the comment underscored the scale of Dangote’s business interests, which extend well beyond what global wealth trackers can measure.

New $2.5 billion fertilizer plant to power Ethiopia’s economy

Dangote has continued to expand his industrial footprint across Africa. Following the successful start-up of his $20 billion refinery, where he holds a 92.3 percent stake, the billionaire has turned his attention to fertilizer and energy production, pushing for regional self-sufficiency in manufacturing.

Earlier this month, Dangote Group broke ground on a $2.5 billion fertilizer plant in Ethiopia, in partnership with Ethiopian Investment Holdings (EIH). The facility aims to produce three million metric tonnes of urea annually, turning the country’s natural gas resources into a driver for agricultural growth. It marks the company’s second major investment in Ethiopia, alongside its decade-old cement plant in Mugher, which is also receiving a $400 million expansion.

Dangote eyes expansion in Senegal, Côte d’Ivoire

Just days after, Dangote met with Senegalese President Bassirou Diomaye Faye in Dakar to explore new investment opportunities in energy, fertilizer, and industry. He already operates a 1.5-million-tonne cement plant in Pout, in Senegal’s Thiès Region, and is now considering further expansion under Senegal’s National Development Strategy for 2024–2029.

Dangote Cement also recently inaugurated a new cement plant in Attingué, about 30 kilometers north of Abidjan, Côte d’Ivoire. The plant, which cost roughly CFA100 billion ($160 million) and has a 3-million-tonne annual capacity, marks one of the company’s largest investments outside Nigeria. With the cement plant, Dangote Cement now operates in 11 African countries, reinforcing the company’s position as a continental manufacturing powerhouse.