Nigerian businessman and Africa’s richest man, Aliko Dangote, has been ranked 65th on Bloomberg’s latest list of the world’s wealthiest individuals, with an estimated fortune of $35.7 billion.
The 69-year-old industrialist, who founded Dangote Group, has built a business empire with interests spanning cement, oil and gas, agriculture, food processing and other manufacturing sectors across Nigeria and Africa.
Bloomberg’s valuation places a significant portion of Dangote’s wealth in both publicly traded and privately held assets.
His listed investments include an estimated $11.7 billion stake in Dangote Cement, $448.6 million in Dangote Sugar Refinery and about $255.1 million in NASCON Allied Industries.
Among his private holdings, the Dangote Petroleum Refinery is valued at approximately $18.6 billion, while his fertiliser plant is estimated at $3.02 billion. His interests in OML 71 and 72 are valued at about $497 million, while other Dangote Industries businesses are estimated at $200 million.
Other assets included in the Bloomberg assessment are his Lagos real estate holdings, valued at about $148 million, free-zone land estimated at $100 million and a private jet worth approximately $76 million.
Dangote’s cash holdings are estimated at around $650 million, bringing his total estimated fortune to $35.7 billion.
The valuation comes as Dangote Group advances plans to raise funds through the initial public offering of its petroleum refinery. The $1.6 billion IPO is part of the company’s broader expansion strategy.
Dangote Group has also projected that it could generate about $36 billion in revenue in 2026, citing strong performance across its industrial operations and expansion plans across Africa.
The businessman is also considering Mombasa, Kenya, for a proposed 650,000-barrel-per-day refinery in East Africa. The project is expected to require an investment of between $15 billion and $17 billion.
