Nigerian billionaire and Africa’s richest man, Aliko Dangote, has climbed to 36th place on Forbes’ real-time ranking of the world’s richest people, with his estimated net worth rising to $51.3 billion.
The latest figure represents a significant increase from the $31.5 billion Forbes recorded for Dangote on September 4. Forbes’ latest valuation follows the launch of the public offering of shares in Dangote Petroleum Refinery and Petrochemicals.
The refinery’s initial public offering opened on September 14, with Dangote offering 4.1 billion shares at ₦525 per share. The offer is targeting about ₦2.15 trillion, or approximately $1.6 billion, making it one of the largest public offerings in Africa.
Forbes said the public offering provides a clearer basis for valuing Dangote’s stake in the refinery, contributing to the sharp increase in his estimated fortune. Dangote reportedly retains an 87 per cent stake in the refinery.
However, wealth estimates differ between major billionaire trackers. While Forbes’ real-time estimate puts Dangote at $51.3 billion, Bloomberg’s Billionaires Index had his wealth at about $35.3 billion around the same period, reflecting differences in how the platforms value private and publicly traded assets.
The development places Dangote among the top 40 wealthiest people globally and makes him the only African currently listed in that group by Forbes’ real-time ranking.
Note: The viral claim that he simply “moved from 86th to 36th in 24 hours” is misleading. The 86th position refers to Forbes’ 2026 annual billionaires list, while the 36th position is from Forbes’ real-time ranking, which updates with changes in estimated wealth.
