Key Points

• Aliko Dangote’s net worth hits $29.8 billion, up $1.7 billion in 2025.

• Dangote Cement and refinery ventures power his wealth surge.

• He’s just $200 million short of reaching the $30 billion mark.

Africa’s richest man, Aliko Dangote, is close to reaching a new milestone. His net worth has climbed to 29.8 billion dollars, just 200 million short of the 30 billion mark, according to the Bloomberg Billionaires Index.

The billionaire industrialist, 67, gained about 1.72 billion dollars this year as his companies on the Nigerian Exchange increased in value and the naira strengthened.

His wealth stood at 28.1 billion dollars at the start of 2025 and has grown with renewed investor confidence in Nigeria’s economy.

Cement empire continues to boost Dangote’s fortune

Much of Dangote’s gain comes from his 87.45 percent stake in Dangote Cement Plc, the largest cement producer in Africa.

The company’s shares have rallied this year, raising its market value to more than 6.8 billion dollars. His stake alone is now worth about 5.9 billion dollars.

Dangote Cement reported a 17.7 percent increase in revenue to 2.07 trillion naira in the first half of 2025, compared with 1.76 trillion naira a year earlier.

Net income jumped 174 percent to 520.46 billion naira, showing strong pricing and tight cost control despite slightly lower sales.

Private investments drive his wealth upward

Beyond his listed companies, which include Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries, most of Dangote’s fortune lies in his private holdings.

His 20 billion dollar oil refinery, which began operations in 2024, is valued at about 18.6 billion dollars and remains the centerpiece of his wealth.

His fertilizer business adds another 3.02 billion dollars, while oil mining licenses OML 71 and 72 contribute about 497 million dollars.

Bloomberg’s breakdown also lists his private jets at 76 million dollars, real estate in Lagos at 148 million dollars, land in the Lekki Free Trade Zone at 100 million dollars, and cash and other assets totaling about 744 million dollars.

Africa’s richest man inches toward historic mark

Dangote’s rise toward the 30 billion dollar mark shows his growing dominance in cement, oil refining, and fertilizer. These industries remain central to Nigeria’s economy.

If the current trend continues, he could soon become the first African to reach a personal fortune of 30 billion dollars.