Dangote Climbs to 65th on Bloomberg Index as Net Worth Rises to $35.7bn

Aliko Dangote, Africa's richest man, has moved from 81st to 65th on the Bloomberg Billionaires Index since January 2026. His estimated net worth rose by $5.3 billion, from $30.4 billion to $35.7 billion. The jump moved him past 16 billionaires and represents about 17.4% growth in his estimated wealth since January.

Dangote's Asset Mix

Dangote, 69, built his fortune through the Dangote Group, which has interests in cement, oil and gas, fertiliser, sugar, food processing and other manufacturing businesses. A significant portion of his wealth is linked to publicly listed companies and private businesses.

His public assets include Dangote Cement Plc, valued at about $11.7 billion, while his holdings in Dangote Sugar Refinery Plc and NASCON Allied Industries Plc are estimated at $448.6 million and $255.1 million respectively. His private assets include the Dangote Petroleum Refinery, estimated at $18.6 billion, and the Dangote Fertiliser Plant, valued at about $3.02 billion.

His interests in OML 71 and 72 are estimated at $497 million. Dangote Industries companies are valued at about $200 million. Other assets include Lagos real estate valued at $148 million, free-zone land worth $100 million and a private jet estimated at $76 million. Bloomberg also estimates his cash assets at about $650 million.

Refinery and Expansion Plans

The Dangote Petroleum Refinery has become a major part of his business empire since it began operations in Nigeria. The group recently launched a $1.6 billion initial public offering for the refinery as it seeks to deepen access to capital and support further expansion.

Dangote Group has projected approximately $36 billion in revenue in 2026, driven by its diversified industrial businesses and expansion plans across Africa. The billionaire is also considering Mombasa, Kenya, for a proposed 650,000-barrel-per-day refinery. The planned refinery is estimated to require between $15 billion and $17 billion in investment and would expand Dangote's refining interests beyond Nigeria. Dangote's proposed East Africa petroleum refinery project is estimated at $16 billion, and the Kenyan president has spoken about it.

Other Billionaire Moves

Separately, Tony Elumelu, described as Africa's newest dollar billionaire, acquired additional £53.2m shares in Seplat.

Femi Otedola's personal fortune has climbed back to its highest point in nearly a decade after First HoldCo Plc, the parent company of First Bank of Nigeria, broke through the N6 trillion market capitalisation barrier for the first time in Nigerian banking history. That figure matches wealth levels he last recorded in 2018 and represents a rise of roughly $700 million, or about 63.6%, since he first emerged as a major shareholder in First HoldCo on October 23, 2021, when Forbes valued him at $1.1 billion.

For Nigerian businesses, Dangote's rising ranking and refinery expansion plans underline the scale of the country's industrial assets and the push for more capital raising in the sector.