Dangote’s Net Worth Now Back to $29 Billion

After a brief dip in his fortune, Africa’s richest man, Aliko Dangote, has seen his wealth climb back to $29 billion, according to the Bloomberg Billionaires Index. 

The rebound comes just weeks after his net worth slipped below that level, reflecting the ups and downs of his vast business empire.

His growth is tied to Cement gain

Much of Dangote’s recent gain is tied to the strong performance of Dangote Cement, Africa’s biggest cement producer. He owns over 87 percent of the company, and with its share price strengthening on the Nigerian Exchange, his stake is now valued at more than $5 billion.

This turnaround was also helped by the slight stabilization of the naira against the U.S. dollar, which eased pressure on Nigerian stocks. As a result, Bloomberg data shows Dangote’s fortune grew by about $300 million in September, restoring him to the $29 billion mark.

So far in 2025, he has added nearly $1 billion to his net worth, maintaining a clear lead over South African billionaires Johann Rupert ($17.1 billion) and Nicky Oppenheimer ($13.2 billion).

The cement business is not just supporting his wealth on paper but also delivering solid earnings. Dangote Cement posted revenue of over N2 trillion ($1.35 billion) for the first half of 2025, a 17 percent increase from last year. 

Profit after tax more than doubled to N520 billion ($340 million), reinforcing investor confidence.

His other business driving growth

While his cement fortune is significant, most of Dangote’s wealth is tied to his private businesses. His $20 billion oil refinery in Lagos, which began operations in 2024, is the single largest part of his net worth, estimated at $18.6 billion.

He also has investments in fertilizer production, valued at about $3 billion, as well as oil mining licenses, real estate, land in the Lekki Free Trade Zone, and a private jet fleet.

How his refinery is expanding exports

The Lagos-based refinery, Africa’s largest, is quickly becoming a key player in the global fuel market. It has started delivering petrol to 11 Nigerian states and deployed thousands of compressed natural gas trucks capable of moving 65 million liters daily.

Between June and September, the refinery shipped more than 1.1 billion liters of petrol to local and foreign buyers, including multiple cargoes to the United States. 

Dangote has said these efforts could save Nigeria over N1.7 trillion ($1.1 billion) annually in fuel costs while creating thousands of jobs.