Dangote’s Fortune Hits $53.2bn as Cement Market Value Tops N20trn
Africa’s richest man, Aliko Dangote, saw his estimated net worth climb to $53.2 billion on Monday as shares of Dangote Cement Plc surged to a record high, pushing the company’s market capitalisation above N20 trillion for the first time.
The rally came ahead of the scheduled closing of the initial public offering (IPO) of his petroleum refinery on Tuesday.
An analysis of Forbes’ real-time billionaire tracker by BusinessDay showed that Dangote added $1.2 billion to his estimated wealth on Monday, taking his net worth to $53.2 billion as of October 26, 2026, from $51 billion recorded on October 20.
The latest increase brings his wealth gain to $2.2 billion in less than a week, reflecting rising valuations of his publicly listed investments and an earlier reassessment of his stake in the privately held Dangote Petroleum Refinery.
The billionaire’s wealth surge coincided with a 10 per cent jump in Dangote Cement shares on the Nigerian Exchange Limited (NGX).
The stock rose to N1,222.10 per share from N1,111, lifting the cement maker’s market capitalisation to N20.6 trillion from N18.5 trillion.
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