Aliko Dangote’s Wealth Dips by $35.8 Million Amid Market Shifts

Aliko Dangote, Africa’s wealthiest individual and a prominent industrialist, experienced a $35.8 million decrease in his net worth on Wednesday following the U.S. presidential election, bringing his total wealth to $27.7 billion as of Thursday. This change placed him 64th on the global list of the wealthiest individuals. Dangote’s fortune largely stems from his Lagos-based conglomerate, Dangote Group, which manages a range of industrial assets.

The most valuable asset in his portfolio is the Dangote Oil Refinery, Africa’s largest oil refinery, which commenced operations in early 2024. Dangote holds a 92.3% ownership stake in this $20 billion facility, valued according to its construction cost. Additionally, he owns a substantial fertilizer plant with an annual production capacity of 2.8 million tonnes of urea, appraised using a net present value calculation based on a 50% utilization rate.

Several Dangote Group companies are publicly listed on the Nigerian Stock Exchange. Dangote’s holdings include an 86% stake in Dangote Cement, Nigeria’s largest cement producer, as well as investments in Dangote Sugar, Nascon Allied Industries, and the United Bank for Africa. These shares are managed directly and through Dangote Industries, a core subsidiary of his Group. Dangote’s business interests also encompass privately held companies in sectors such as food manufacturing, agriculture, and packaging, which are valued based on their investment costs according to the Group’s 2023 audited financial statements.

The industrialist owns six residential and commercial properties in Lagos, valued using the capitalization method based on rental income estimates provided by his spokesman, Anthony Chiejina, and capitalization rates from CBRE Broll Nigeria.

The valuation of his cash reserves, held in both naira and U.S. dollars, is based on financial information disclosed by the Group in 2024.

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