Africa’s richest man, Aliko Dangote, has increased his personal fortune by approximately $6.5 billion since the start of 2026, pushing his net worth to an estimated $36.5 billion and further cementing his position as the continent’s wealthiest individual.
According to the Bloomberg Billionaires Index, Dangote’s wealth has grown by about 22 per cent this year, driven primarily by the rising value of his industrial assets, particularly the Dangote Petroleum Refinery, alongside strong performance from his cement business and other manufacturing ventures.
The latest ranking places the Nigerian businessman 61st among the world’s richest individuals, with his net worth increasing by roughly $6.53 billion year-to-date as of June 10, 2026.
Bloomberg identified the 650,000 barrels-per-day Dangote Refinery as the largest contributor to the billionaire’s wealth. The refinery, which began operations in 2024 after more than a decade of development, is currently valued at around $20 billion based on construction costs.
Dangote holds a 92.3 per cent stake in the facility, making it the most valuable asset within his business empire. Bloomberg noted that the valuation remains conservative because it reflects investment costs rather than potential market value.
The refinery has rapidly become one of Africa’s most significant industrial projects, reducing Nigeria’s dependence on imported fuel while boosting exports of refined petroleum products to international markets.
Beyond refining, Dangote’s fortune is anchored by his controlling stakes in several major companies, including Dangote Cement, Dangote Sugar Refinery and NASCON Allied Industries. Bloomberg estimates that he owns about 86 per cent of Dangote Cement, the largest cement producer in Nigeria and one of Africa’s leading manufacturing firms.
His diversified business interests also span fertiliser production, agriculture, food manufacturing and packaging. The group’s fertiliser plant, capable of producing up to 2.8 million tonnes of urea annually, remains another major contributor to his growing wealth.
The surge in Dangote’s fortune highlights the increasing value of industrial manufacturing and large-scale infrastructure investments in Africa’s biggest economy. Analysts have pointed to the successful commencement of refinery operations as a key factor behind the upward revaluation of the Dangote business empire.
Born in Kano in 1957, Dangote built his conglomerate from a small trading business into one of Africa’s largest industrial groups, with interests spanning cement, sugar, salt, fertiliser, petrochemicals and food processing.
With his wealth now approaching the $40 billion mark, continued growth in the refinery and his listed companies could propel him even higher in the global billionaire rankings in the months ahead.
Meanwhile, the Aliko Dangote Foundation has distributed thousands of bags of rice to residents of host communities around Dangote Cement plants in Ogun State as part of its National Food Intervention Programme.
The initiative targets vulnerable households across communities in Ibese, Itori and Ijebu-Igbo, providing relief amid rising food prices and economic hardship.
Representing the Foundation’s Chief Executive Officer, Zouera Youssoufou, Head of Operations Victor Ejiro said the programme demonstrates the organisation’s commitment to food security, poverty alleviation and community development.
Traditional rulers and community leaders in the beneficiary areas commended the intervention, describing it as timely support for families struggling with inflation and rising living costs.