A historic leap: A wealthy African man joins the $36 billion club.
Among the world's richest people
Written by Omnia Hassan
Nigerian billionaire Aliko Dangote continued to strengthen his position as the richest man in AfricaHis wealth rose to $35.9 billion, placing him 65th globally on the list of the world's richest people, driven by the rapid expansion of his industrial and energy empire.
According to the Bloomberg Billionaires Index, Dangote added more than $1 billion to his fortune in just a few days, bringing his gains since the beginning of 2026 to about $5.92 billion, one of the fastest growth rates among Africa’s richest people.
Rapid growth of the Dangote empire
The Nigerian businessman’s huge leap in wealth came as a result of the strong performance of his companies operating in the cement, fertilizer and energy sectors, along with strategic expansions within and outside Africa.
Dangote Cement, Africa’s largest cement producer, has unveiled plans to list part of its business on the London Stock Exchange, a move that could give the group a wider global presence and attract huge foreign investment.
The company has a production capacity of up to 55 million tons per year, distributed across more than ten African countries, which strengthens its dominance over the building materials market in the continent.
Expansion in energy and fertilizers
In the fertilizer sector, Dangote Fertilizers continues to expand its operations through plans to issue dollar-denominated bonds to finance long-term investments, following its success in raising $750 million through a private bond sale.
The company also benefits from high global demand for fertilizers, especially with international supply disruptions resulting from geopolitical tensions in the Middle East.
In the energy sector, the Dangote Group continues to work on a massive project to build an oil refinery in Kenya at a cost of between $15 and $17 billion, a move that could change the energy map of East Africa.
Nigeria's refinery supports wealth
Meanwhile, Dangote's refinery in Nigeria continues to boost its exports to global markets, taking advantage of increased demand for fuel and energy.
According to international reports, the refinery exported about 57 million barrels of jet fuel during the past two years, which boosted revenues and led to a significant increase in the value of Dangote's investments, as the Nigerian businessman continues to consolidate his economic influence within Africa and on the global stage.
