India, Oct. 25 -- Aliko Dangote has once again made history, this time by becoming the first African-born billionaire to reach a $30 billion net worth.

The Nigerian industrialist, often described as the face of modern African capitalism, now stands at $30.3 billion, according to Bloomberg's Billionaires Index. The new valuation makes him not just the richest man in Africa, but the richest Black man in the world.

Dangote's fortune, which grew by over $2 billion this year alone, continues to rise on the strength of his cement and oil empire.

Cement still remains the cornerstone of Dangote's wealth, as per Business Insider Africa. His group recently launched a $160 million cement plant in Cote d'Ivoire, about 30 kilometers north of Abidja...