World’s Richest Black Person Makes History As Net Worth Hits $30B
Africa’s wealthiest individual, Aliko Dangote —the richest Black man in the world —has reached a net worth of $30 billion as of October 23, 2025. His net worth’s last valuation change is more than $430 million, according to Bloomberg’s index. A few weeks ago, Bloomberg index stated that Dangote’s net worth was $29.6 billion, $400 million away from entering the $30 billion club.
About Aliko Dangote
Aliko Dangote is the founder and chairman of Dangote Cement, Africa’s largest cement producer. He also founded Dangote Refinery, the largest petroleum refinery in Africa. Under construction since 2016, the refinery began operations in early 2024, boosting Dangote’s fortune by $10.5 billion over the past year.
Dangote’s rising net worth coincides with the launch of a $160 million cement plant in Attingué, located about 30 kilometers north of Abidjan, Côte d’Ivoire, as reported by Business Insider Africa. Spanning 50 hectares, the facility can produce up to three million metric tonnes annually, ranking it among the company’s most significant operations outside Nigeria.
Dangote recently announced plans to more than double his oil refining capacity, to 1.4 million barrels per day. This means the Dangote Group is set to operate the world’s largest oil refinery, exceeding the output of major global refining hubs such as the 1.36 million barrels-per-day facility in Jamnagar, India.
Dangote’s net worth changing
In late January 2024, the CEO of the renowned Dangote Group surpassed the $20 billion mark, following a recent valuation increase of $282 million and an impressive year-to-date (YTD) gain of $6.91 billion.
By July 2024, Bloomberg’s Billionaires Index valued Dangote’s net worth at $13.8 billion, following reports that he had lost about $1 billion. However, by October 2024, his fortune had surged from roughly $13 billion to $27.8 billion.
Midway through the year, Dangote’s net worth stood at $27.7 billion, reflecting a year-to-date decline of $400 million. However, an April snapshot showed a modest YTD increase of $153 million—highlighting how volatile these headline figures can be amid shifting markets, currency movements, and company performance.
Image: Getty Images / Ernest Ankomah
