Dangote Rises to World’s 36th Richest Person

Aliko Dangote has climbed to become the world’s 36th richest person, with his wealth now estimated at $51.3 billion, according to Forbes’ real-time billionaires index.

The latest figure marks an increase of about $20 billion, following a $2.5 billion private placement and the revaluation of Dangote Petroleum Refinery and Petrochemicals.

Forbes’ real-time index, seen by Tribune Online on Tuesday, places Dangote’s wealth well above the $28.5 billion recorded on the annual 2026 list.

The rise comes as the Dangote Refinery IPO opens on the Nigerian Exchange. The company is offering 4.1 billion ordinary shares at ₦525 each, giving the deal a value of about ₦2.15 trillion.

The public offer opened at 8 am on Monday, September 14. The company hopes to attract up to 10 million investors through stockbrokers, banks, fintech firms, telecommunications companies and point-of-sale agents.

The Dangote Refinery IPO has already drawn strong interest from investors. There are expectations that the record transaction could become oversubscribed and set a fresh standard for equity fundraising and retail participation on the Nigerian Exchange.

The NGX Group said investment channels recorded exceptionally high traffic on the opening day. Some digital platforms also reportedly struggled with the volume.

Dangote’s fortune has changed sharply over the past decade. Forbes valued it at $12.2 billion in 2017 before it reached $14.1 billion in 2018. It then dropped to $10.4 billion in 2019 and $8.3 billion in 2020.

His wealth later recovered to $11.5 billion in 2021, $14 billion in 2022, $14.2 billion in 2023 and $13.4 billion in 2024. It rose further to $23.9 billion in 2025 and $28.5 billion in 2026.

The latest Dangote Refinery IPO valuation has now pushed his fortune to a record $51.3 billion.

What impact could Dangote’s rising wealth and the refinery IPO have on Nigeria’s capital market?