Aliko Dangote, CEO of the Dangote Group, has become one of the most discussed figures online after his reported net worth rose from $31.4 billion to $51.3 billion within 24 hours of the opening of the Dangote Refinery IPO shares.
Forbes reportedly confirmed the development in a recent update published on its official website on September 14, 2026.
As of early September 2026, Dangote’s net worth was valued at approximately $31.4 billion, according to Forbes. A screenshot of the earlier valuation can be seen below.
Recall that Dangote Petroleum Refinery and Petrochemicals FZE announced that the purchase of its Initial Public Offering (IPO) shares officially commenced on September 14, 2026.
The public offer comprises 4.1 billion ordinary shares priced at N525 per share, with the company targeting approximately N2.15 trillion from the offering.
The funds are expected to support the refinery’s expansion plans, which aim to increase its production capacity to 1.4 million barrels per day, nearly doubling its current capacity.
Interested investors can subscribe for a minimum of 10 shares at a total cost of N5,250. The public offer opened on September 14, 2026, and is expected to close on October 13, 2026.
Following the commencement of the offer, Nigerians, Africans and investors from around the world have reportedly started subscribing to the Dangote Refinery IPO.
The development has also been linked to a significant increase in Aliko Dangote’s reported net worth, with Forbes reportedly revaluing his fortune to about $51.3 billion, representing an increase of nearly $20 billion.
The reported increase has placed Dangote among the world’s wealthiest individuals and makes him the 36th richest person in Africa, according to the latest valuation.
This means Dangote’s reported net worth as of September 15, 2026, stands at approximately $51.3 billion. A screenshot of the latest Forbes valuation is provided below.
Aliko Dangote, Africa’s richest man, remains one of the continent’s most influential business figures and one of Nigeria’s most prominent entrepreneurs.
The Nigerian billionaire is the founder and chairman of Dangote Cement, Africa’s largest cement producer. Through his holding company, Dangote owns about 85 per cent of the publicly traded cement company, which has an annual production capacity of 48.6 million metric tonnes and operates across 10 African countries.
Beyond the cement industry, Dangote has built a diversified business empire with interests in several sectors. His massive fertilizer plant in Nigeria commenced operations in March 2022 after years of development, marking a major milestone for the country’s agricultural and industrial sectors.
Another major project in his business empire is the Dangote Refinery, one of the largest oil refineries in the world. Construction of the refinery began in 2016, while refining operations commenced in early 2024, marking a significant development in Nigeria’s energy sector.
Dangote, 69, built his fortune through businesses spanning industries including cement and sugar and is widely regarded as a self-made billionaire. He is based in Lagos, Nigeria, and has three children. He holds a bachelor’s degree from Al-Azhar University.
Over the years, the billionaire businessman has also spoken about entrepreneurship, investment and the opportunities available in Nigeria. In one of his notable remarks, Dangote described Nigeria as “one of the best-kept secrets,” noting that many foreign investors were waiting for the perfect time to invest.
According to him, however, “there is no right time” to invest.
Dangote has also repeatedly encouraged people to pursue excellence in their chosen fields, stressing that whatever one decides to do, they should strive to become the best at it.
