Aliko Dangote, Nigeria’s industrial titan, has become the first African to reach a net worth of $30.3 billion, according to Bloomberg’s Billionaires Index. His fortune, driven by cement and oil ventures, marks a historic milestone for African entrepreneurship and positions him as the world’s richest Black individual.
Aliko Dangote, President of the Dangote Group, has made history by becoming the first African-born billionaire to cross the $30 billion net worth threshold. As of October 2025, Bloomberg’s Billionaires Index places his wealth at $30.3 billion, a rise of over $2 billion this year alone. The surge is attributed to robust gains in cement production and the operational success of the Dangote Petroleum Refinery.
Key Highlights
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Dangote’s net worth rose by $2.16 billion year-to-date, including a recent $430 million valuation gain
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His cement empire expanded with a $160 million factory in Attingué, Côte d’Ivoire, adding three million tonnes of annual capacity
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The refinery, operational since late 2023, produces approximately 370,000 barrels per day, significantly boosting his portfolio
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Dangote Cement now operates in 11 African countries, reinforcing his dominance in the continent’s industrial landscape
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Analysts hail the achievement as a defining moment for African manufacturing and wealth creation
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Ngozi Okonjo, analyst at Afrinvest, noted, “This isn’t just a personal win for Dangote, it’s a defining moment for African industry”
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The milestone also makes Dangote the richest Black man globally, surpassing previous records held by American entrepreneurs
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His success story is seen as a beacon for emerging markets, proving that industrial growth can drive transformative wealth
Dangote’s rise reflects the power of strategic infrastructure investment and long-term vision. From cement and sugar to flour and oil, his diversified empire continues to shape Africa’s economic future. The $30 billion mark is not just a personal triumph—it’s a symbol of possibility for the continent.
Sources: Hindustan Times, Livemint, Gistreel, Business Insider Africa, Vanguard