Aliko Dangote Makes Record As First African Billionaire To Reach $30 Billion Net Worth

Africa’s richest man, Aliko Dangote has  reached a $30 billion net worth, according to Bloomberg’s Billionaire Index as of October 23, 2025.

This new milestone marks a $2.16 billion increase in his fortune so far this year, including a recent $430 million boost in valuation.

Just days ago, Aliko Dangote’s wealth was estimated at $29.8 billion, just $200 million short of the mark.

His growing wealth reflects the rapid expansion of his industrial businesses, particularly with the completion of a $160 million cement plant in Attingué, near Abidjan, Côte d’Ivoire.

The 50-hectare facility can produce three million metric tonnes of cement annually, making it one of the largest Dangote Cement plants outside Nigeria.

With this addition, Dangote Cement’s total production capacity across Africa now stands at about 55 million tonnes a year, spread over 11 countries.

Dangote is also making bold moves in the oil sector. He recently revealed plans to more than double his refinery’s output to 1.4 million barrels per day, surpassing the capacity of the world’s largest refinery in Jamnagar, India, which produces 1.36 million barrels daily.

Reports suggest that Dangote Refinery could list between 5% and 10% of its shares on the Nigerian Exchange (NGX) within the next year.

Since the $20 billion Dangote Oil Refinery began operations in October 2023, producing 370,000 barrels of diesel and jet fuel daily, his fortune has grown significantly.

In late 2023, Bloomberg ranked Dangote as the 81st richest person in the world with a net worth of $20.4 billion.

Though his fortune fluctuated throughout 2024, dropping to $13 billion midyear, he bounced back strongly, closing the year at $27.8 billion.

By August 2025, his net worth had climbed to $29.3 billion, and by October, he reached $30 billion, making him the first African billionaire to do so.

Dangote’s financial rise highlights his expanding footprint across key industries, from cement and construction to oil refining, cementing his legacy as one of Africa’s most powerful and influential business leaders.

KanyiDaily recalls that Aliko Dangote, recently praised President Bola Tinubu for has visionary leadership and achievements.