Nigerian industrialist and Africa’s richest man, Aliko Dangote, has recorded a significant increase in his personal wealth, with his net worth rising to an estimated $36.5 billion, according to the latest figures from the Bloomberg Billionaires Index.
The latest valuation shows that Dangote has added approximately $6.5 billion to his fortune since the start of 2026, representing a 22 per cent increase and further strengthening his position as Africa’s wealthiest individual.
Bloomberg ranked the Nigerian billionaire as the 61st richest person in the world as of June 10, 2026, attributing much of the wealth growth to the increasing value of his industrial investments, particularly the Dangote Petroleum Refinery and his extensive interests in cement manufacturing.
The refinery, which commenced operations in 2024 after years of planning, construction and investment, has emerged as the largest contributor to Dangote’s wealth. Bloomberg estimates the facility’s value at approximately $20 billion, making it the most valuable asset in his portfolio.
Dangote owns a 92.3 per cent stake in the refinery, which has a processing capacity of 650,000 barrels of crude oil per day. Analysts say the facility has become one of Africa’s most strategic industrial assets, helping Nigeria reduce its dependence on imported petroleum products while increasing exports of refined fuels.
In addition to the refinery, Dangote’s fortune is supported by substantial holdings in several publicly traded companies, including Dangote Cement, Dangote Sugar Refinery and NASCON Allied Industries.
Bloomberg estimates that the billionaire controls about 86 per cent of Dangote Cement, Nigeria’s largest cement producer and one of Africa’s leading manufacturing companies.
His business empire also spans fertiliser production, agriculture, food manufacturing and packaging. The fertiliser division, with an annual production capacity of 2.8 million tonnes of urea, remains a major contributor to the conglomerate’s overall value.
Born in Kano in 1957, Dangote built his fortune from a modest trading business before transforming it into one of Africa’s largest industrial conglomerates. Today, the Dangote Group operates across multiple sectors, including cement, petrochemicals, fertiliser, sugar, salt and food processing, with its listed companies accounting for a significant share of the Nigerian stock market’s capitalisation.
The sharp rise in Dangote’s net worth has widened the gap between him and other African billionaires, reinforcing his dominance at the top of the continent’s wealth rankings.
With his fortune now approaching the $40 billion mark, continued growth in the value of the refinery and strong performance by his listed companies could propel him even higher in the global billionaire rankings in the months ahead.
