Africa’s richest man and President of Dangote Group, Aliko Dangote, has seen his net worth soar to $30.2 billion, according to the latest Bloomberg Billionaires Index.
The updated ranking places Dangote as the 75th richest individual in the world, reaffirming his position as the wealthiest man on the African continent.
Dangote, who holds majority shares in Dangote Cement Plc, the largest cement producer in sub-Saharan Africa listed on the Nigerian Exchange Limited, continues to expand his business empire across multiple sectors.
His fortune also draws heavily from the Dangote Refinery, Africa’s largest oil refining complex, which was commissioned on May 22, 2023.
The $20 billion refinery, situated in Ibeju-Lekki, Lagos, remains his most valuable asset. Dangote owns a 92.3 per cent stake in the facility, while the Nigerian National Petroleum Company Limited (NNPCL) holds 7.3 per cent.
Industry observers attribute the latest surge in Dangote’s net worth largely to the operations and prospects of the refinery, which has positioned him as one of the most influential industrialists driving Africa’s economic growth.