Aliko Dangote’s Net Worth Drops by $397M After Cement Stock Slump
A sharp dip in Dangote Cement shares wipes nearly $400 million off Africa’s richest man’s fortune
- Aliko Dangote lost $397 million in a single day
- His net worth now stands at $23.2 billion
- Dangote’s wealth is heavily tied to the stock market
Aliko Dangote, Africa’s wealthiest individual and the powerhouse behind the Dangote Group, suffered a staggering $397 million hit to his fortune in just one day due to a sharp decline in Dangote Cement’s share price.
As of Wednesday, Dangote’s net worth stands at $23.2 billion, based on the Bloomberg Billionaires Index. This drop follows a slump in Dangote Cement’s stock, which fell to ₦480 per share on the Nigerian Stock Exchange.
Holding an 86% stake in Dangote Cement—Nigeria’s top cement manufacturer—Dangote’s wealth is heavily tied to its market performance. The dip in valuation directly impacted his financial standing.
His expansive business empire, however, extends well beyond cement. Dangote has interests in companies such as Dangote Sugar, NASCON Allied Industries, and United Bank for Africa.
His most prized asset remains the $20 billion Dangote Refinery, which began operations in 2024. He holds a commanding 92.3% stake in the refinery. In addition, he owns a massive fertilizer plant with an annual capacity of 2.8 million tonnes of urea.
Dangote’s real estate portfolio includes six high-value properties across Lagos, appraised using capitalization rates from CBRE Broll Nigeria and verified by his spokesperson, Anthony Chiejina.
With the majority of his wealth linked to publicly traded companies, Dangote is no stranger to the volatility of financial markets. This latest setback is a stark reminder that even the continent’s most powerful investors aren’t immune to market turbulence.
