Aliko Dangote Net Worth 2026: $54.5 Billion After Cement Surge

Aliko Dangote’s net worth reached $54.5 billion on Forbes’ real-time tracker on 5 November 2026, up $1.7 billion in a single trading day. The jump came straight after Dangote Cement reported a 31% rise in nine-month profit, and as his Lagos oil refinery heads towards a stock market listing later this month. He is now ranked 34th in the world by Forbes and remains Africa’s richest person by a wide margin.

Aliko Dangote Net Worth at a Glance

The two big trackers disagree by roughly $15 billion. Bloomberg has been slower to mark up the refinery, which until this autumn had never traded publicly, so its figure sits well below Forbes’.

Why His Fortune Jumped This Week

Dangote Cement, Africa’s largest cement maker, filed unaudited results with the Nigerian Exchange showing profit after tax of ₦974.8 billion ($714 million) for the nine months to 30 September. That is 31% higher than a year earlier. Revenue rose 19.6% to ₦3.77 trillion ($2.77 billion), and the company cut its borrowings almost in half, leaving it with more cash than debt.

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The shares rose 10% to ₦1,222.10, taking the company’s market value above ₦20 trillion, or about $15 billion. Forbes says Dangote owns 85% of the business through a holding company, so a move of that size feeds almost directly into his net worth.

The Refinery Is Now the Bigger Asset

The single largest driver of his wealth is the Dangote Petroleum Refinery near Lagos, a plant that cost about $20 billion to build and has a nameplate capacity of 650,000 barrels a day. Ship-tracking data showed crude deliveries hit a record 735,000 barrels a day in October, with American WTI making up roughly a fifth of supply.

The refinery’s finances have also turned. It reported net profit of $4.73 billion on revenue of $22.48 billion for the first nine months of 2026, compared with revenue of $9.19 billion a year earlier.

That profit arrived just as the company ran Africa’s biggest initial public offering. Key details:

• 4.1 billion new shares offered at ₦525 each, opening on 14 September 2026
• A base size of about $1.6 billion, rising to as much as $2.1 billion if the greenshoe option is used
• Orders worth about ₦6.4 trillion ($4.78 billion), roughly three times the target, according to Bloomberg
• A listing on the Nigerian Exchange planned for later in November

How Forbes Added $20 Billion in Ten Days

The biggest revision came in September. Forbes had valued the refinery conservatively because it was private and had no market price. A $2.5 billion private placement, heavily oversubscribed, gave it one. Applying that price to Dangote’s holding lifted his Forbes estimate from about $31.5 billion on 4 September to $51.3 billion by 14 September.

That revision moved him ahead of Alibaba co-founder Jack Ma and Nike co-founder Phil Knight on Forbes’ list. See where he sits against the very top in our ranking of the world’s 10 richest people in 2026.

What Could Move the Number Next

The refinery listing is the obvious one. Once shares trade daily, both Forbes and Bloomberg will have a live price to work from, and the gap between their estimates should narrow. Dangote’s group is also planning a capacity expansion and new fuel pipelines across West and Southern Africa, which investors will price in or discount.

The naira is the other factor. Most of his assets are valued in local currency, so a weaker naira can cut his dollar fortune even when his companies are doing well. Fortunes built on listed tech stock swing for different reasons, as the recent moves in Larry Page’s net worth and Elon Musk’s net worth show.

Sources: Forbes, Billionaires.Africa, OkayAfrica, OilPrice.com, Hydrocarbon Processing