Africa’s richest man, Aliko Dangote, has seen a sharp dip in his fortune after Dangote Cement, the crown jewel of his business empire, took a heavy hit on the Nigerian Exchange….CONTINUE FULL READING>>>>>
The billionaire industrialist lost an estimated $549 million in a single day, as the value of his cement holdings tumbled by nearly 10 percent.
Dangote’s net worth falls Below $29 Billion
At the start of trading on Monday, Dangote’s wealth was estimated at $29.3 billion. But by the close of the market, his fortune had dropped to $28.7 billion, according to Bloomberg data.
The decline was driven almost entirely by a sell-off in Dangote Cement, where he holds an 87.45 percent stake.
Investors offloaded nearly 2.6 million shares, valued at about $0.88 million, dragging the stock down 9.88 percent in a single session. This shaved his cement stake from $5.4 billion to $4.96 billion.
A sudden shift after near-record highs
The sudden dip comes just two weeks after optimism had surged around Dangote’s growing fortune.
Earlier in August, he looked set to become the first African billionaire to cross the $30 billion mark, following a brief rally that pushed his net worth above $29 billion. Instead, the latest sell-off has reversed those gains, reminding investors of how volatile the markets can be.
His wealth still anchored in private assets
Despite the downturn, Dangote’s broader empire remains intact. The $18.6 billion Dangote Refinery, which officially began operations in 2024, continues to serve as the foundation of his wealth.
His fertilizer business, valued at $3.02 billion, and oil licenses worth nearly $497 million were not affected by the stock market dip.
In addition, Dangote holds significant cash reserves estimated at $744 million, luxury assets including a $76 million private jet fleet, and real estate worth over $148 million in Lagos.
Still among the year’s biggest gainers
Even with this setback, Dangote remains one of 2025’s biggest financial winners. His fortune is still up by $659 million since the start of the year, though that figure is now lower than the $1.2 billion increase he enjoyed just weeks ago.
For now, Africa’s richest man faces another reminder of how quickly markets can change fortunes. Yet with his refinery and fertilizer businesses insulated from stock fluctuations, Dangote’s empire continues to dominate Africa’s industrial landscape…..CONTINUE FULL READING>>>>>
