Aliko Dangote, the founder and chairman of Dangote Group, has reached a significant financial milestone, becoming the first African-born billionaire to achieve a net worth of $30 billion. This achievement underscores his status as the wealthiest Black individual globally.
Dangote’s wealth surge is primarily attributed to the expansion of Dangote Cement, his company’s largest revenue driver. The group recently completed a $160 million cement factory in Attingué, Côte d’Ivoire, which is set to produce three million metric tonnes of cement annually. With this addition, Dangote Cement now operates 11 production plants across Africa, bringing its total installed capacity to approximately 55 million tonnes annually.
In addition to cement, Dangote’s oil operations have significantly contributed to his net worth. The Dangote Oil Refinery, which began operations in 2023, now produces approximately 650,000 barrels of diesel and jet fuel per day. Plans are underway to expand production capacity to 1.4 million barrels per day, which would surpass the output of some of the world’s largest refineries.
This remarkable financial growth reflects Dangote’s strategic investments and his commitment to industrial development in Africa. His ventures continue to play a pivotal role in the continent’s economic transformation.
