Dangote's Net Worth Hits $32.5B Ahead of IPO Launch

Aliko Dangote, Africa’s richest man, saw his net worth rise by $1 billion to $32.5 billion on Monday, attributed to the upcoming initial public offering (IPO) of his refinery, scheduled to open on September 14. This increase follows a prior gain of $3.3 million on Friday, marking a 27% rise in his wealth from $25.6 billion at the end of 2025.

The IPO is expected to be one of the largest in Nigeria's capital-market history, with a proposed offering of 4.1 billion ordinary shares priced at N525 each, potentially raising about N2.15 trillion (approximately $1.5 billion) if fully subscribed. The proceeds will support the refinery's expansion from 700,000 barrels per day to 1.4 million barrels per day.

The Securities and Exchange Commission has approved the offering, which includes a 15% over-allotment option. Dangote's wealth estimates vary between Forbes and Bloomberg, reflecting different methodologies for valuing assets.