Aliko Dangote Cements His Spot As Africa’s Richest Man As His Fortune Soars $23.9 billion

Aliko Dangote’s fortune soars to $23.9 billion, cementing his spot as Africa’s richest man.

Nigerian billionaire Aliko Dangote has seen his net worth soar to $23.9 billion, solidifying his position as Africa’s wealthiest individual and placing him 86th on the global rankings, according to Forbes.

This marks a significant leap from 2024 when he was ranked 144th worldwide with a fortune of $13.4 billion. The surge in his wealth is largely attributed to his 92.3% ownership in Dangote Petroleum Refinery & Petrochemicals.

At 67, Dangote has re-entered the top 100 richest people globally, a feat he last achieved in 2018, as per the Forbes Real-Time Billionaires List. His wealth far surpasses that of South African billionaire Johann Rupert, who ranks 161st globally with $14.4 billion, and Nigeria’s second-richest man, Mike Adenuga, who holds the 481st spot with a net worth of $6.8 billion.

Dangote’s rise comes on the heels of his game-changing move to break the Nigerian government’s oil monopoly by building Africa’s largest petroleum refinery. The Dangote Refinery, which began operations last year, was the result of an 11-year journey, a $23 billion investment, and countless challenges.