Dangote makes history as first African to surpass $30bn net worth

Abdullateef Fowewe

Aliko Dangote, Africa’s richest man, has reached an unprecedented milestone by becoming the first African billionaire with a net worth exceeding $30 billion, according to the recent Bloomberg Billionaires Index.

His current fortune stands at $30.2 billion, reflecting an 8% growth this year alone—an increase of $2.25 billion fueled by the booming success of his cement, refinery, and fertilizer enterprises.

The Nigerian industrialist’s wealth is anchored in the Dangote Group, a diversified conglomerate with interests in cement, sugar, and oil refining.

His recent $160 million cement plant in Côte d’Ivoire expands his footprint to 11 manufacturing facilities across Africa.

Meanwhile, his ambitious oil refinery is set to nearly double its daily output to 1.4 million barrels, positioning it as one of the largest globally.

Dangote’s privately-owned and market-verified wealth represents a historic achievement for African entrepreneurship, distinguishing him from historical rulers like Mansa Musa or state-led fortunes such as Muammar Gaddafi’s.