Dangote’s Net Worth Hits $51.3bn As Forbes Releases New Billionaire Ranking

Africa’s richest man, Aliko Dangote has recorded his highest-ever net worth of $51.3 billion, according to Forbes’ real-time billionaire tracker released on Monday.

The new valuation places the president/CEO of Dangote Industries Limited at 36th globally out of 3,397 billionaires worldwide. It also makes him the only African currently ranked among the world’s 40 richest people.

The figure represents a sharp jump from the $31.5 billion Forbes recorded for Dangote on September 4, and more than doubles the $25.6 billion he was worth at the end of 2025.

The surge in Dangote’s fortune comes on the back of the Dangote Petroleum Refinery, which opened its public share offering on September 14, 2026. The offer comprises 4.1 billion ordinary shares priced at N525 each, with a minimum subscription of 10 shares or N5,250. The offer is expected to close on October 13, 2026.

The company is seeking to raise about $1.6 billion from the exercise, which values the refinery at approximately $47.6 billion.

Forbes said the public listing provided a clearer market benchmark for valuing the refinery and Dangote’s 87 per cent stake.

“There’s likely more riches coming his way as his refinery, the continent’s largest, begins selling shares to individual investors,” Forbes stated.

The refinery’s IPO reportedly drew N1.5 trillion in subscriptions within six hours of opening on the Nigerian Exchange, making it the largest public offer in Africa’s history.

While Forbes pegs Dangote’s fortune at $51.3 billion, Bloomberg’s Billionaires Index valued him at $35.3 billion as of Monday.

However, Bloomberg projected that the IPO could add as much as $22.9 billion to Dangote’s wealth, potentially pushing him to $58.2 billion, enough to overtake American investors Ken Griffin and Eric Schmidt.

The gap reflects different methodologies in valuing privately held assets versus publicly traded ones.

Forbes updated its estimates frequently during trading hours, while Bloomberg values private assets periodically.

Dangote’s lead over other Nigerians on the Forbes list has also widened significantly in the latest ranking.

According to Forbes, Abdulsamad Rabiu, chairman of BUA Group, is ranked 309th globally with a net worth of $11.4 billion. Mike Adenuga, founder of Globacom and Conoil, follows at 584th globally with $6.9 billion; while Femi Otedola, chairman of First HoldCo, is listed at 2,241st globally with a fortune estimated at $1.9 billion.

Analysts said the gap underscores Dangote’s dominance in Nigeria’s billionaire space, driven largely by the revaluation of his refinery ahead of its public listing.

With $51.3 billion, Dangote alone is now worth more than twice the combined wealth of the other three Nigerian billionaires.

Market analysts stated Dangote’s net worth could rise further once the refinery shares are fully priced after the October 13 close of the offer.