Nigerian billionaire Aliko Dangote has officially made history as the first African to hit a $30 billion net worth, according to the latest Bloomberg Billionaires Index.
This achievement follows a $430 million jump in his portfolio, rounding off a remarkable year that added more than $2 billion to his wealth.
The surge further strengthens Dangote’s status as Africa’s richest man, underscoring the scale and dominance of his businesses across cement, sugar, flour, and oil refining.
“This isn’t just a personal win for Dangote, it’s a defining moment for African industry,”
said Ngozi Okonjo, an analyst at Afrinvest.
“He’s proving that manufacturing can create true wealth for Africa.”
A major contributor to this rise is the $160 million Dangote Cement plant in Côte d’Ivoire, which boosts production capacity by three million tonnes and extends operations to 11 African countries.
However, the Dangote Petroleum Refinery remains the biggest game changer. Since commencing operations in late 2023 and producing around 370,000 barrels per day, it has transformed Africa’s energy landscape and driven Dangote’s net worth to new heights.
After experiencing market volatility in 2024, steady refinery output has restored his standing among the world’s top billionaires. Dangote now aims to increase production to 1.4 million barrels per day and list 10% of the refinery’s shares on the Nigerian Exchange.
From his early days in commodity trading to building one of Africa’s most diversified business empires, Dangote’s success story stands as a testament to African innovation, persistence, and global ambition.