Africa’s richest individual and business magnate, Aliko Dangote, has achieved a $30 billion net worth, becoming the first person from the continent to reach the financial feat.
According to the Bloomberg Billionaires Index, the founder and CEO of the Dangote Group crossed this threshold on October 23, 2025.
Bloomberg reported that as of October 23, 2025, Dangote’s net worth has increased by $2.16 billion year-to-date, reaching a total of $30 billion.
The organisation added that Dangote’s $30 billion net worth milestone is a testament to the exponential growth of his industrial empire and cements his standing as the world’s wealthiest Black person.
Bloomberg further revealed that Dangote achieved the $30 billion net worth due to the soaring valuations of his core businesses, most notably the Dangote Oil Refinery.
According to the report, a couple of weeks back, Dangote’s net worth stood at $29.6 billion, $400 million away from entering the $30 billion club.
On Wednesday, October 22, 2025, he was said to be just $200 million shy of the mark, with a net worth of $29.8 billion.
However, as of October 23, 2025, Dangote achieved a $30 billion net worth.
The development came ahead of the inauguration of Dangote’s $160 million cement plant in Attingué, roughly 30 km north of Abidjan, Côte d’Ivoire.
The 50-hectare facility has the capacity to produce three million metric tonnes per year, making it one of the company’s largest sites outside Nigeria.
The Attingué facility brings the group’s installed capacity on the continent to around 55 million tonnes annually, bringing the total number of Dangote Cement plants in African nations to 11.
Also, recently, reports emerged that Dangote Refinery intends to sell 5% to 10% of its shares on the Nigerian Exchange (NGX) Limited.
Additionally, Dangote recently made an announcement that he plans to more than double his oil refining operations, bringing production capacity to 1.4 million barrels per day.
This denotes that the Dangote group will control the largest oil refining operation, surpassing the output of the world’s largest refining giants, including the 1.36 mbpd refinery in Jamnagar, India.
The Dangote Oil Refinery, which was founded in May 2023, began operations in October of the same year, when it was set to commence the production of approximately 370,000 barrels per day (b/d) of diesel and jet fuel.
Shortly after the launch, in the same month, Bloomberg listed Dangote as the 81st richest person in the world with a net worth of $20.4 billion.
However, Dangote’s net worth would decline sharply before surging once more.
The year 2024 began with Johann Rupert as Africa’s richest man, with a net worth of $10.3 billion compared to Dangote’s $9.5 billion.
This would not last as Dangote quickly regained the throne, in an amazing effort that saw him outperform Jeff Bezos and Bill Gates by the end of the first month of the year.
Late in January 2024, the CEO of the profound Dangote group crossed the $20 billion mark, with his most recent valuation change of +$282 million, and his year-to-date (YTD) change of a staggering +$6.91 billion.
By July 2024, Bloomberg’s billionaire index had Dangote’s net worth at $13.8 billion, after reports indicated that he had lost a billion dollars.
Dangote’s net worth in October 2024 jumped from around $13 billion to $27.8 billion.
On Bloomberg’s index, Dangote was worth around $28.1 billion as of the beginning of 2025.
Dangote’s net worth was $27.7 billion in the middle of the year, with a year-to-date change of -$400 million, yet an April snapshot showed Dangote’s year-to-date change of only +$153 million, demonstrating how unpredictable these headline figures can be when markets, currencies, and company performance fluctuate.
By August 2025, the Index estimated Dangote’s net worth to be $29.3 billion, only $0.7 billion shy of $30 billion.
