Table of Contents
Key Points
- Dangote Cement’s stock decline has erased $845 million from Aliko Dangote's wealth in three days, reducing his net worth to $27.2 billion.
- Dangote’s 86% stake in Dangote Cement dropped from $4.53 billion to $3.65 billion, highlighting the impact of a sharp price fall.
- Despite losses, Dangote remains Africa’s richest person, with his oil refinery stake contributing $18.6 billion to his fortune.
The sustained sell-off in Dangote Cement shares on the Nigerian Exchange (NGX) has dealt a heavy blow to the fortune of Aliko Dangote, Africa’s richest man.
Over the past 24 hours, a sharp decline in the cement giant’s stock price has erased $390 million from his wealth, bringing his total losses over the past three days to a staggering $845 million.
According to the Bloomberg Billionaires Index, which tracks the fortunes of the world’s 500 wealthiest individuals, Dangote, 67, has seen his net worth fall to $27.2 billion from $28.1 billion this week, according to the Bloomberg Billionaires Index.
His 86 percent stake in Dangote Cement has taken a hit, with shares dropping from N478.8 ($0.31) at the start of the year to N387.9 ($0.25). The slump has slashed the market value of his stake from $4.53 billion to $3.65 billion.
Africa’s wealthiest sees $852 million loss
Year-to-date, Dangote’s net worth has fallen by $852 million, marking a 3 percent decline from his wealth estimate at the start of 2025.
Despite this, he retains his position as Africa’s wealthiest person, with Bloomberg valuing his fortune at $27.2 billion. The estimate includes his 92.3 percent stake in the newly operational Dangote Oil Refinery, which alone contributes $18.6 billion to his net worth.
However, U.S. business magazine Forbes, which excludes the refinery in its calculations, offers a more conservative valuation, placing Dangote’s net worth at $10.6 billion. By Forbes’ measure, he ranks as Africa’s second-richest individual, trailing South African billionaire Johann Rupert, whose wealth primarily stems from Swiss luxury goods conglomerate Richemont.
Dangote's diversified empire expands wealth
Beyond his holdings in Dangote Cement and the oil refinery, Dangote’s financial empire spans several sectors. His fertilizer plant, Dangote Fertilizer, adds $3.02 billion to his fortune, with a production capacity of 2.8 million tonnes of urea annually.
His cash reserves are estimated at $744 million, while his stakes in Dangote Sugar Refinery Plc (72.25 percent) and Nascon Allied Industries (62.2 percent) are valued at $208 million and $44.5 million, respectively.
The billionaire’s wealth diversification underscores his position as the driving force behind Africa’s most extensive manufacturing and industrial conglomerate.
However, the volatility in Dangote Cement’s stock has highlighted the fragility of fortunes tied to publicly traded assets, even for a titan of industry like Dangote.
