Dangote’s wealth jumps by 72pc to US$23,9bn

Aliko Dangote, known for his vast empire in petroleum, cement, sugar and other industries, continues to amass significant wealth, solidifying his position as a key player in Africa’s economic development.

Dangote’s fortune remains a testament to the success of strategic investments and industrial expansion. According to the Forbes 2025 African billionaire ranking, which profiles 22 billionaires from the continent, their combined fortunes rose to a total of US$105 billion, up from US$82,4 billion and 20 billionaires last year.

The 2025 list highlights Africa’s shifting wealth landscape, with South Africa leading the pack with seven billionaires, while Nigeria and Egypt each boast four. Morocco follows closely with three billionaires, and Tanzania, Algeria, and Zimbabwe each have one.

Notably, Nigeria’s Aliko Dangote retained his position as Africa’s richest person for the 14th consecutive year, with his net worth rising to an estimated US$23,9 billion from US$13,9 billion last year.

The significant increase in his wealth is largely attributed to Forbes factoring in the value of his refinery, which began operations last year on the outskirts of Lagos, following prolonged delays.

According to the Forbes African Billionaire Ranking for 2025, the table below presents the latest list of Africa’s wealthiest individuals along with their net worth. Aliko Dangote’s net worth surged to US$23,9 billion, up from US$13,9 billion, largely due to the success of his Dangote Refinery. — Business Insider Africa