Aliko Dangote, Africa’s richest man, has recorded a sharp increase in his wealth and ranking on the global rich list
The world richest man, Elon Musk has also seen his net worth hit a new high after an increase of Tesla shares
On the strength of his plant, Nigeria has become a net exporter of petroleum products for the first time in three decades
According to Forbes, Dangote’s wealth has climbed to $24.6 billion, placing him 94th globally, up from 197th in January. This indicates that Dangote has overtaken more than 100 billionaires in the 2025 world ranking.
According to the Bloomberg Billionaires Index, Dangote’s net worth has surged by about $1 billion over the past three months, to $28 billion, as the refinery has ramped up.
Other Nigerian billionaires in the rankings include:
Abdulsamad Rabiu: $7.8bn (Rank 452)
Mike Adenuga: $6.3bn (Rank 609)
Femi Otedola: $1.5bn (Rank 2406)
South African billionaire Johann Rupert follows as Africa’s second-richest, with a net worth of $14.5 billion and 186th in the world.
Elon Musk, the world’s richest person, is the first individual to amass a net worth of $500 billion. Musk’s fortune hits record level following a strong rally in Tesla shares and gains in SpaceX and xAI valuations.
Data obtained from Forbes showed that as of Wednesday, October 2, 2025, Musk’s net worth stood at $499.1 billion after gaining $8.3 billion in a day.
Musk’s net worth, tied to Tesla, SpaceX, and his AI venture, xAI, cements his position as the wealthiest individual ever tracked.
Oracle’s Larry Ellison, who briefly overtook Elon Musk net worth recently is now $150 billion behind.
10 richest men in the world
Elon Musk: $499.1bn
Larry Ellison : $350.7bn
Mark Zuckerberg: $245.8bn
Jeff Bezos: $233.5bn
Larry Page: $203.7bn
Sergey Brin: $189.0bn
Jensen Huang : $162.6bn
Bernard Arnault: $160.6bn
Steve Ballmer: $156.4bn
Warren Buffett: $148.5bn
It was not only Elon Musk that recorded a jump in fortune. Aliko Dangote’s net worth also rose significantly in 2025, allowing him to break into the world’s top 100 billionaires.
