The Chairman of the Dangote Group, Aliko Dangote has seen his net worth rise to $23.9 billion, positioning him as the 86th richest person globally, according to Forbes.
This significant increase is largely attributed to his 92.3% stake in Dangote Petroleum Refinery & Petrochemicals.
According to Forbes on Tuesday, Dangote has seen his net worth rise to $23.9 billion, positioning him as the 86th richest person globally.
The business mogul has re-entered the top 100 richest individuals globally, a position he last held in 2018, according to the Forbes Real-Time Billionaires List.
Dangote’s net worth of $23.9 billion places him significantly ahead of South Africa’s Johann Rupert, ranked 161st globally with an estimated wealth of $14.4 billion, and Nigeria’s Mike Adenuga, who is the second richest in Nigeria and 481st in the world, with a net worth of $6.8 billion.
Dangote disrupted Nigeria’s oil industry by constructing the largest petroleum refinery in Africa, a move that challenged the existing “oil mafia”—a term he uses to describe the powerful network profiting from the country’s oil sector.
Aliko Dangote’s 650,000 barrels per day (bpd) refinery, located in Lekki, Nigeria, is the seventh-largest refinery globally and the largest in Africa.
Since commencing operations in January 2024, the Dangote refinery has significantly impacted global energy markets.
Nigeria’s petroleum imports expected to reach an eight-year low, affecting European refiners that have traditionally supplied the Nigerian market.
