Aliko Dangote stands at the summit once more. Forbes has named the Nigerian magnate, founder of Dangote Group, the richest Black billionaire on the globe in its 2025 list. His estimated net worth of approximately $23.9 billion places him 83rd among the world’s wealthiest individuals.
The leap in Dangote’s fortune stems largely from the operational launch of Africa’s largest oil and gas refinery, completed in early 2024. The facility is among the world’s most ambitious industrial projects: built on previously marshy land, it involved relocating over 365 million cubic metres of sand, constructing private port facilities and dedicated roads, and securing one of the world’s largest cranes years in advance.
While Dangote leads the list, he stands among just 23 Black individuals featured in Forbes’ 2025 ranking. Their combined wealth amounts to roughly $96.2 billion across sectors spanning energy, technology and finance.
Following Dangote are notable figures such as David Steward ($11.4 billion), an American IT entrepreneur, Robert F. Smith of Vista Equity Partners ($10.8 billion), and Alexander Karp, co-founder of Palantir Technologies ($8.4 billion). Nigeria also continues to appear prominently, with Mike Adenuga ranking among the top five at approximately $6.8 billion.
Dangote’s elevation underscores the enormous economic and symbolic power he holds, not only in Nigeria but across the continent. His refinery project reshaped West Africa’s industrial landscape and triggered a remarkable doubling of his net worth within a year. His journey from trading in cement, sugar and flour to constructing one of Africa’s most complex industrial projects remains unparalleled.
For Nigeria, his recognition in Forbes’ ranking confirms its place at the centre of African entrepreneurship. In a broader sense, Dangote’s climb reminds us that vision, bold execution and belief in local capacity can produce outcomes that echo on the global stage.
