Dangote’s net worth reaches $36.5 billion

Dangote’s wealth has increased to $36.5 billion, placing him 61st on Bloomberg’s list of the world’s richest individuals.

Africa’s richest man, Aliko Dangote, has seen an increase of about $6.5 billion in his personal fortune since the start of 2026, bringing his net worth to around $36.5 billion and solidifying his status as the wealthiest individual on the continent.

Data from the Bloomberg Billionaires Index indicates that Dangote’s wealth has increased by approximately 22 per cent this year, primarily due to the rising value of his industrial assets, especially the extensive Dangote Petroleum Refinery, along with robust performance from his cement business.

The most recent ranking has positioned the Nigerian billionaire at number 61 on the list of the world’s wealthiest individuals, with Bloomberg estimating his net worth at $36.5 billion as of June 10, 2026, reflecting an increase of approximately $6.53 billion year-to-date.

The significant rise occurs as the billionaire industrialist continues to enjoy the rewards of years spent investing in manufacturing, cement production, fertilizer, and refining.

Bloomberg recognized the Dangote Refinery, the largest petroleum refinery in Africa, as the primary source of his wealth. The facility, capable of producing 650,000 barrels per day, began operations in early 2024 following over a decade of planning and construction. Bloomberg currently values it at approximately $20 billion, reflecting its construction cost.

According to the report, Dangote holds a 92.3 percent stake in the refinery, which constitutes the largest part of his net worth. Bloomberg’s assessment indicated that the refinery’s valuation appears conservative, as it relies on investment cost instead of potential market value.

The refinery has quickly become one of the most vital industrial assets on the continent, contributing to a decrease in Nigeria’s reliance on imported petroleum products while increasing exports of refined products to global markets.

As stated in the report, Dangote’s wealth is bolstered not only by the refinery but also by his significant stakes in various publicly traded companies, such as Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries.

Bloomberg estimates that Dangote holds around 86 percent of Dangote Cement, which is Nigeria’s largest cement producer and one of Africa’s major manufacturing companies. The group also holds interests in fertilizer production, food manufacturing, agriculture, and packaging.

The billionaire’s fertiliser business, with the ability to produce as much as 2.8 million tonnes of urea each year, plays a substantial role in his overall wealth. Bloomberg observed that the asset is appraised through a net present value methodology that relies on projected utilization rates.

Africa’s wealthiest individual oversees Dangote Industries, a privately owned conglomerate. The company based in Lagos, Nigeria, is the owner of Dangote Cement, which is the largest cement producer in sub-Saharan Africa, as well as the continent’s largest oil refinery. It also has interests in sugar, salt, oil, fertilizer, and packaged food,” the Bloomberg index noted.

The recent increase in Dangote’s wealth highlights the rising impact of industrial manufacturing and value addition in Africa’s largest economy. Analysts have highlighted the start of operations at the refinery as a significant milestone in the valuation of Dangote’s business empire.

Born in Kano in 1957, Dangote amassed his wealth through a humble trading venture initiated with a loan from his uncle following his graduation from Egypt’s Al-Azhar University. Throughout the years, he evolved the business into the Dangote Group, which stands as one of Africa’s largest industrial conglomerates.

Today, the group’s publicly traded companies represent a significant portion of the market capitalization of the Nigerian stock market, while its privately held businesses encompass cement, sugar, salt, fertilizer, petrochemicals, and food processing.

The significant increase in Dangote’s net worth this year has expanded the disparity between him and other African billionaires, reinforcing his position at the pinnacle of the continent’s wealth rankings.

As his fortune nears the $40 billion threshold, additional increases in the refinery’s value and ongoing expansion of his publicly traded companies could elevate him further in the global billionaire rankings in the months ahead.

In other news, Elon Musk continues to lead the billionaires list with a net worth of $707 billion. He is followed by Larry Page, with $310 billion; Sergey Brin, with $288 billion; and Jeff Bezos, who has a net worth of $265 billion.

In the meantime, numerous residents in the host communities of Dangote Cement Plc in Ogun State have been provided with bags of rice by the Aliko Dangote Foundation (ADF) as part of initiatives aimed at alleviating the impact of economic difficulties and increasing food prices on vulnerable households.

The distribution occurring in communities surrounding the company’s cement plants in Ibese, Itori, and Ijebu-Igbo is part of the foundation’s National Food Intervention Program aimed at assisting low-income families, the elderly, and other vulnerable groups throughout the country.

The initiative, now an annual event, will involve the distribution of thousands of 10kg bags of rice to beneficiaries from 17 host communities in Ibese and 36 communities in Itori and Ijebu-Igbo.

During the exercise, Zouera Youssoufou, Chief Executive Officer of the Aliko Dangote Foundation, represented by Victor Ejiro, the foundation’s head of operations, stated that the intervention demonstrates the organization’s dedication to food security and poverty alleviation.

He stated: “This intervention aims to offer immediate assistance to households struggling with elevated food prices.” As a socially responsible organization, we acknowledge the significance of extending our support to our host communities beyond our business activities.

Youssoufou stated that the Foundation was aware of the economic challenges confronting numerous Nigerians and would persist in aiding communities through focused initiatives.

At the Aliko Dangote Foundation, we acknowledge the prevailing economic challenges that numerous Nigerian households are experiencing. This intervention seeks to deliver prompt assistance while strengthening our enduring dedication to the welfare of our host communities,” he stated.
He believes that sustainable development goes beyond just business operations and necessitates intentional actions to enhance community resilience.

We recognize the challenges that families are encountering during this period. This support reflects our commitment to our communities, ensuring that every household receives the assistance it needs during these challenging times. Sustainable development extends far beyond the realm of business operations.

“This program enhances community resilience and supports national initiatives aimed at improving food access and social stability,” he stated.

At the Ibese distribution center, the Aboro of Ibeseland, Oba Rotimi Oluseyi Mulero, praised the initiative, referring to it as an “Operation Feed the Families” program.

“On behalf of our people, I express our deep appreciation to the Aliko Dangote Foundation for this timely and commendable gesture.” “During a period when numerous families are encountering financial difficulties, this distribution of food items will significantly help ease the struggles within our communities,” the monarch stated.

He added: “We value Dangote Group not just as a business partner but also as a responsible corporate citizen that consistently shows authentic concern for the well-being of its host communities. We hope that this collaboration continues to thrive for the advantage of everyone involved.

In a similar vein, the Olu of Itori, Oba Abdulfatai Akorede Akamo, conveyed his gratitude to Aliko Dangote and the Foundation for their assistance to residents during challenging times.

This assistance has arrived at a crucial moment for our community. “Many households are facing challenges, and this intervention will provide support and optimism to families,” he stated.

The monarch expressed gratitude, stating: “We thank Alhaji Aliko Dangote and his Foundation for remembering the grassroots and standing by us in times of need.” We sincerely appreciate this gesture of goodwill. May the Almighty bless the Dangote Group and enhance its ability to keep contributing positively to humanity.

Numerous community leaders and beneficiaries praised the initiative, highlighting that it arrived during a period when many households were facing challenges due to inflation and increasing living expenses.

To promote transparency and fairness, local coordinators collaborated with community representatives to oversee the distribution process and ensure that the food items reached the intended beneficiaries.