Dangote Overtakes 16 Billionaires, Secures New Ranking as Net Worth Rises

• Aliko Dangote has climbed from 81st to 65th on the Bloomberg Billionaires Index since January 2026
• The Nigerian billionaire’s estimated fortune has increased by $5.3 billion, from $30.4 billion to $35.7 billion
• Dangote’s refinery and other investments in cement, fertiliser, sugar and oil are driving his business expansion

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Aliko Dangote, Africa’s richest man, has climbed 16 places on the Bloomberg Billionaires Index since the beginning of 2026 as his estimated fortune increased by $5.3 billion.

Dangote was ranked 81st globally in January 2026, with an estimated net worth of $30.4 billion, according to the Bloomberg index.

His fortune has now risen to $35.7 billion, moving him to 65th place among the world’s richest people and overtaking 16 billionaires.

The increase represents a growth of about 17.4% in his estimated wealth since January.

Dangote, 69, built his fortune through the Dangote Group, which has interests in cement, oil and gas, fertiliser, sugar, food processing and other manufacturing businesses.

Dangote’s wealth

A significant portion of Dangote’s wealth is linked to his interests in publicly listed companies and private businesses.

His public assets include Dangote Cement Plc, valued at about $11.7 billion, while his holdings in Dangote Sugar Refinery Plc and NASCON Allied Industries Plc are estimated at $448.6 million and $255.1 million, respectively.

His private assets include the Dangote Petroleum Refinery, estimated at $18.6 billion, and the Dangote Fertiliser Plant, valued at about $3.02 billion, Leadership reports.

His interests in OML 71 and 72 are estimated at $497 million, while Dangote Industries companies are valued at about $200 million.

Other assets include Lagos real estate valued at $148 million, free-zone land worth $100 million and a private jet estimated at $76 million.

Bloomberg also estimates his cash assets at about $650 million.

Refinery expands Dangote’s business

The Dangote Petroleum Refinery has become a major part of the industrialist’s business empire since it began operations in Nigeria.

The group recently launched a $1.6 billion initial public offering for the refinery as it seeks to deepen its access to capital and support further expansion.

Dangote Group has also projected approximately $36 billion in revenue in 2026, driven by its diversified industrial businesses and expansion plans across Africa.

The billionaire is also considering Mombasa, Kenya, for a proposed 650,000-barrel-per-day refinery.

The planned refinery is estimated to require between $15 billion and $17 billion in investment and would expand Dangote’s refining interests beyond Nigeria.

Overall, Dangote's latest Bloomberg ranking shows a significant improvement in both his global position and estimated wealth compared with the beginning of 2026.

Otedola's wealth soars to a 10-year high

Earlier, Legit.ng reported that Femi Otedola's personal fortune has climbed back to its highest point in nearly a decade after First HoldCo Plc, the parent company of First Bank of Nigeria, broke through the N6 trillion market capitalisation barrier for the first time in Nigerian banking history.

That figure matches wealth levels he last recorded in 2018 and represents a rise of roughly $700 million, or about 63.6%, since he first emerged as a major shareholder in First HoldCo on October 23, 2021, when Forbes valued him at $1.1 billion.