Nigeria Aliko Dangote Now the 65th Richest Person in the World with $28 Billion

Aliko Dangote, the president of the Dangote Group, has reached a significant milestone, now ranking as the 65th richest person globally, with a net worth of $28 billion. This achievement follows the successful launch of his expansive Petrochemical refinery, which has proven to be a game changer for both his fortune and Nigeria’s economy.

According to Bloomberg's latest Billionaires Index, released on Thursday, Dangote's wealth surged after operations began at the refinery, valued at over $20 billion. Previously ranked 83rd in 2022, his elevation on the list highlights the positive impact of the facility, located in Ibeju-Lekki, near Lagos. As the largest single-train oil refinery in the world, it is capable of processing various global crude types, marking a critical step toward Nigeria's fuel self-sufficiency. The refinery began producing premium motor spirit (petrol) and other products in September, significantly boosting Dangote's net worth.

In comparison to other African billionaires, Dangote stands unmatched; Johann Rupert of South Africa ranks 174th with $13.6 billion, while Nicky Oppenheimer holds the 224th spot with $11.6 billion. This substantial lead underscores Dangote's unique position in the African economic landscape.

Moreover, his philanthropic efforts through the Aliko Dangote Foundation, which has invested over $1.25 billion in various initiatives, reinforce his commitment to social change and community empowerment. Founded in 1981 and incorporated in 1994, the foundation focuses on health, nutrition, and education, making it the largest private charity in sub-Saharan Africa.

With Dangote's unwavering determination and impactful investments, he continues to redefine success in both business and philanthropy, solidifying his legacy as a leading figure in Africa and beyond.