Dangote’s Net Worth Soars to $30.2 Billion, Now 75th Richest Person Globally

Dangote

Dangote’s Net Worth has soarred to $30.2 Billion, now 75th Richest Person Globally.

NewsOnline Nigeria reports that Africa’s richest man and President of the Dangote Group, Aliko Dangote, has seen his fortune surge to $30.2 billion, according to the latest Bloomberg Billionaires Index.

The updated ranking places Dangote as the 75th richest person in the world, solidifying his status as one of the most influential industrialists globally.

Dangote’s wealth primarily stems from his controlling stake in Dangote Cement Plc, the largest cement producer in sub-Saharan Africa, listed on the Nigerian Exchange Limited (NGX).

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A major contributor to his recent wealth increase is the Dangote Oil Refinery, Africa’s largest oil refining complex, valued at $20 billion. Commissioned on May 22, 2023, the refinery remains Dangote’s most valuable asset, with the billionaire holding a 92.3% ownership stake, while the Nigerian National Petroleum Company Limited (NNPCL) retains 7.3%.

Located in Ibeju-Lekki, Lagos, the refinery has been identified as the key driver of Dangote’s rising net worth, marking a new phase in his dominance of Africa’s industrial and energy landscape.