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The Richest Man In Africa – Aliko Dangote Net Worth

Aliko Dangote Companies, How Much Is Aliko Dangote Net Worth Where Is Aliko Dangote House, Where Is Aliko Dangote Biography

How much do you know about the richest man in Africa? In the recent article I published about Aliko Dangote’s wife and kids, I referred to Aliko Dangote as the greatest magician alive because of his ability to turn ₦500,000 into a $50 billion empire.

In this article will be looking at Aliko Dangote himself. According to Forbes business magazine, Aliko Dangote is the 23rd richest person in the entire world. Aliko Dangote has also been sighted as the 66th most powerful person in the world.

Yes, Aliko Dangote is perhaps the most successful black entrepreneur on Earth. This self-made businessman has a lot of power and authority in his name. His success story has made him host kings and world leaders in his house.

Aliko Dangote is not just the richest man in Africa, he is also a real estate mogul, business magnate, very skilled manager, philanthropist, investor, and the owner of a Nigerian based transnational conglomerate, the Dangote Group.

In this article, we want to look at his Aliko Dangote biography, background, family, mansions, investments, Aliko Dangote net worth, and the Dangote Group of companies. In this article, we are going to show you all you need to know about Aliko Dangote and some of the things you didn’t know about Aliko Dangote.

Aliko Dangote Biography

Aliko Dangote was born on the 10th of April 1957 in Kano State, Nigeria. Unlike most self-made businessmen, Dangote came from a very wealthy family that respected the doctrines of Allah and believe in the Muslim community.

Aliko Dangote’s father died at a very young age. Dangote lost his father to the cold hands of death around August 1965, when he was barely 8 years old. So his grandfather, Sanusi Dantata took him in and became his guardian.

Sanusi Dantata was not just his grandfather, he was the leader of the elite class in Kano state, making him one of the richest men in Africa at that time. Dangote’s grandfather was very popular in the region for selling commodities like rice, oat, and groundnut.

Having spent much time with his grandfather and assisting him in business, Dangote became business-oriented and knew the ins and outs of his grandfather’s business.

Dangote started his first business when he was in primary school. According to Dangote, his very first investment was selling sugar in primary school.

He would buy cartons of sugar, biscuits, and other candies in bulk and sell them to his classmates and other students in his school in bits for a slightly increased price.

Dangote attained basic education in his local primary education, Sheikh Ali Kumasi Madrasa, Kano State. After completing his primary education, he went to attain secondary education at the Capital High School, Kano, Kano State.

Aliko Dangote then traveled to Egypt to acquire tertiary education at Al-Azhar University, Cairo, where acquired a degree in management studies and business administration.

Being the richest man in Africa, Aliko Dangote owns the largest cement factory in Africa. He is the chairman of Dangote cement and owns 85% of publicly-traded Dangote Cement via a holding company.

Aliko Dangote Business

Dangote had been working with his uncle and grandfather and decided that it was time to scale his business and take it to the next level. He was only 21 years old and was thinking of how to start his own business.

He went to his uncle to take a small loan of $3,000 [about ₦500,000 back then], so he can put his business idea into reality. Dangote’s initial business idea was buying organic agro-products and soft commodities from overseas as a wholesaler and selling them here in Nigeria.

Aliko Dangote planned to import rice and sugar from Brazil and Thailand in bulk and sell them in Nigeria for profit. This idea was a goldmine. He made more than $10,000 in profits within the first six months.

Dangote hit the motherload. He was able to get good retailers in these countries where he bought goods in bulk for a surprisingly cheap price and sell them with additional costs. Dangote was able to repay the $3,000 loan within three months of starting this new business.

This was a businessman born. This was how Aliko Dangote started making money before he became the richest man in Africa. Aliko Dangote is a born strategist and manager.

In 1997, Aliko Dangote took a bolder step and established the Dangote group. He was sure that this company would be the next big thing and relocated from Kano to Lagos to expand his business to other corners of the country.

He also realized that buying oversees and selling them locally involved spending a lot of money. He knew that he could save more money and make more money by manufacturing his own products.

From importing organic agricultural products, Dangote started producing finished goods from supplies obtained from his farm. He started producing what we know as the Dangote pasta, flour, sugar, and salt under one singular brand, the Dangote group.

By 1980, two years after the richest man in Africa launched the Dangote Sugar, the Dangote sugar became a nationwide success.

Dangote sugar became the largest supplier of sugar in Nigeria and one of the most demanded sugar brands in all of West Africa. This was one of the first wins that got him connected to investors from all around the world.

Due to the big success, many investors that wanted to work with Dangote and hold shares in his companies. Most investors started as were clients from beverage Industries, transnational breweries, international corporations, confectionery, and foreign moguls interested in acquiring stakes in his company.

Today, Aliko Dangote owns the largest factories capable of refining over 800,000 tons of sugar and salt every year. The victory of the Dangote sugar also led to the production of Dangote flour, which won the title of being one of the most recommended flour brands in Nigeria.

Dangote built a strong brand in very little time and even made about 3x more money when he started the Dangote cement industrial plant. The Dangote cement plant was one of the biggest breakthroughs of the Dangote group.

Around 2005, Dangote was given a cement factory to manage and he took full control of its operations. He took a $480 million loan from the International Finance Corporation and added $319 million to make sure that his new cement company began operation immediately.

By 2009, the same cement production plant was worth over $1.2 billion. He made more profits than he did in his other investments and decided to expand its operations.

Dangote took a small loan from the World Bank and franchise his business to other countries in West Africa and Sub Saharan Africa.

The Dangote cement factory produces about 48 million metric tons of cement annually and has branches in more than 10 countries across the African plain. Aliko Dangote also owns stakes in other salt and sugar manufacturing companies other than his.

Apart from producing cement and other domestic products, Dangote decided to give the Nigerian oil and gas sector a try because that was where the real money was.

Aliko Dangote now has his eyes set on the Nigerian oil and gas sector. He is currently building one of the biggest crude oil refineries in Africa. The refinery is located here in Lagos, Nigeria.

The refinery he is working on can produce over 600,000 barrels of oil every day. This is one of the best ways to increase our GDP and reduce external depts.

That’s a big win for a man that started as a farmer. Unlike most self-made businessmen that make most of their money from investing in the crude oil sector, Dangote made most of his money by developing other sectors before venturing into crude oil.

In 2012, Dangote took permission from the Lagos State Government and the Nigerian Port Authorities to acquire an abandoned piece of land located at Apapa port to start his flour mill refinery.

Aliko Dangote also tried exporting Nigerian grown products, and guess what? He was also successful in that field. Aliko Dangote started a large scale Farm that export organic products such as cocoa, sesame seeds, ginger, cashew nut, cotton, groundnut, green vegetables, and cassava to other parts of the world.

The Aliko Dangote Group also has massive stakes in most public sectors not just in Nigeria. The Dangote group has invested in the Nigerian oil and gas sector, real estate, transport, textile production, agriculture, and even most West African banking sectors.

I due time, we believe that the Dangote Group would be pioneering renewable energy in Nigeria. I even forgot to mention, Aliko Dangote and the Dangote Group has more than 15,000 employees, making him one of the biggest industrial conglomerate in West Africa.

They have also been rumors that the richest man in Africa intends to purchase the Premier League football club Arsenal. Currently, Dangote has a 16% share in the Arsenal football club which he purchased from Lady Nina Bracewell-Smith back in 2016. Dangote has also spoken out that he would like to be the complete owner of the Arsenal Football Club.

Dangote Wife and Children

Aliko Dangote is a self-made 63-year-old businessman and one of the wealthiest black men on Earth. He has a mega-mansion in Banana Island, Ikoyi where he spends quality time with his family.

Aliko Dangote is currently a bachelor. He has two ex-wives and four children. His children consist of three girls and a boy. The three girls Halima Dangote, Mariya Dangote, and Fatima Dangote are his biological children from his two wives. While his adopted son, Abdulrahman Fasasi Dangote is now part of his Dangote family.

Awards Won By Aliko Dangote

In 2011, Aliko Dangote was awarded a medal of excellence by the Grand Commander of the Niger. This medal is one of the most prestigious awards in Nigeria.

Even back in 2014, when he donated about ₦150 million the Federal Government Of Nigeria to fight the Ebola Virus, which he received an award of excellence for along with other generous donors.

Aliko Dangote has also received awards as the Forbes Africa Person of the Year [2014], Clinton Global Awards [2015], honorary citizenship of the Arkansas state, and Silverbird man of the year.

Aliko Dangote has also been recognized by Forbes as the richest African billionaires, the 66th most powerful man in the world, and the number 162 on the list of billionaires on Earth.

The richest man in Africa was also awarded The Guardians Manufacturing CEO of the Year Award in 2017, ABU Corporate Award in 2018, Love to the World Initiative Builders Awards 2016…

Aliko Dangote Investment

Aliko Dangote has stated on many occasions that the Dangote Group of companies is not like other companies. Most companies like playing safe by keeping their cash in banks in case they go bankrupt, they know where to run to.

The Dangote group of companies on the other hand prefers actively investing every cash earned to other sectors with a potential goldmine that they can leverage on. The Dangote Group is made up of more than 18 subsidiaries.

Here is a list of companies owned by Aliko Dangote and what they specialize in.

Sector & IndustryInvestment Details
CementThe Dangote Cements PLC is by far one of Aliko Dangote’s most profitable investments. Established in 1981, it became incorporated into Obajana Cement Plc in 1992. It started by importing cement but later started cement manufacturing cement not just in Nigeria but all around Sub Saharan Africa.
Property ManagementThe richest man in Africa has also been able to get his hand on valuable properties and real estate across the world thanks to his company’s MHF properties limited. They don’t just buy & sell real estate but also help clients develop luxury properties.
AgricultureCrop farming, animal husbandry, and aquaculture also count as one of Aliko Dangote’s most valuable investments. But the three major industries he is known for is rice cultivation, maize farming, and sugarcane cultivation. Aliko Dangote also has an ongoing project that involves building the biggest fertilizer plant in Africa.
Sugar RefiningOne of the most notable investments owned by Aliko Dangote is perhaps his sugar production business. The Dangote Sugar Refinery PLC was established in the 1970s and is the biggest producer of household sugar in Africa and the second largest sugar refinery in the world.
Oil & GasIt’s obvious that Aliko Dangote now has his eyes set on oil and gas. Like I said earlier, he is working on the biggest Oil and Gas refinery in Africa. The projected cost of the crude oil refinery in Lagos is about $13 Billion. We still don’t know how many oil wells he owns in the Niger Delta region. But the Dangote Industries Ltd is doing a fine job in making sure Nigeria can now convert crude oil to petrol.
Salt RefiningNational Salt Company of Nigeria PLC and Dangote Salt are two companies owned by Aliko Dangote that specializes in manufacturing cooking salt for household use.
Flour, Semolina, Pasta & Wheat ProductionDangote Pasta, Dangote Spaghetti, Dangote Semolina, Dangote Flour, and the Dangote Wheat Meal are products manufactured by the Dangote Flour Mills PLC, yet another company owned by Aliko Dangote situated in Lagos State, Nigeria.
Grocery & Shopping BagsBecause he produces so many items, he started producing strong shopping bags and packaging materials to package his own products. Dangote Agric sacks and shopping bags are produced under Dangote Industries Ltd. They allow you to pack and carry our goods in a super-strong sack for easy transportation.
Communications & ITDancom Technologies LTD is yet another company owned and managed by Aliko Dangote that offers tech and ICT services to mostly foreign-based clients.
Transportation, Shipping & LogisticsDantrans Limited is another investment controlled by Aliko Dangote that handles the transportation and shipping of goods produced by Dangote and any interested customer to any part of the world. Most of the goods are tracked via an advanced GPS tracking system.
Snacks & BeveragesAlthough it is not as active as it used to be, the Dansa Food LTD is another child company under the Dangote Group that produces bottled water, fruit drinks, and other organic beverages.
Auto Assembly Plant, Gas Pipeline, Steel productionDangote is also starting an auto plant here in Lagos that is estimated to assemble more than 15,000 trucks and vehicles for industrial use. There’s also an ongoing project for the Dangote Steel and Gas/pipeline production plant.

Aliko Dangote is the proud founder of Dangote Industries Ltd and Dangote Group Ltd. Aside from these companies, Dangote is also a major shareholder is more than a dozen local and international companies.

Aliko Dangote is the chairman of Dangote Cement Plc, Chairman of Dangote Sugar Refinery Plc, Chairman, President & CEO of the Dangote Industries Ltd. He is also the Chairman of Dangote Flour Mills Plc, NASCON Allied Industries Plc, and President of The Nigerian Stock Exchange.

Aliko Dangote is one of the most patriotic Nigerians. He invests most of his capital is thriving sectors not just in Nigeria but all across Africa.

Aliko Dangote Facts & Quotes

Did you know that Aliko Dangote has been the richest man in Africa for more than 10 years in a row? Here we will be looking at things that Aliko Dangote said or did that will inspire you if you are thinking of going into business or manufacturing?

Aliko Dangote always emphasizes the importance of saving but if you truly want MONEY, you have to be ready to invest. You will not make money by keeping your money locked away in the bank or a small saving box. You have to get it out there to work for you.

“When you are raised by an entrepreneurial parent or grandparent you pick that aspiration, It makes you be much more aggressive to think anything is possible.” – Aliko Dangote to Forbes.

“You have to dream big to be able to be big and that’s what we’re doing,” – Dangote to Forbes Africa.

“Let me tell you this, and I want to really emphasize it… nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria” – Aliko Dangote to Al Jazeera

“To build a successful business, you must start small and dream big. In the journey of entrepreneurship, the tenacity of purpose is supreme” – Aliko Dangote.

Aliko Dangote Net Worth

Aliko Dangote has spent over 25 years building a transnational empire located in Nigeria. According to Forbes, the current net worth of Aliko Dangote is estimated to be $8 billion [July 2020].

This slight drop in his net worth was due to the COVID-19 outbreak with halted the production of goods and delivery of finished products nationwide. The table below contains the data from Forbes on Aliko Dangote’s Net Worth from March 2011 to April 2020.

Aliko Dangote Net Worth By YearAliko Dangote Net Worth  [Forbes]
Aliko Dangote Net Worth  In March 2011$13.8
Aliko Dangote Net Worth  In March 2012$11.2
Aliko Dangote Net Worth  In March 2013$16.1
Aliko Dangote Net Worth  In March 2014$25
Aliko Dangote Net Worth  In March 2015$14.7
Aliko Dangote Net Worth  In March 2016$15.4
Aliko Dangote Net Worth  In March 2017$12.1
Aliko Dangote Net Worth  In March 2018$14.1
Aliko Dangote Net Worth  In March 2019$10.4
Aliko Dangote Net Worth  In April 2020$8.3

Aliko Dangote Assets, Cars, Houses

Like most rich Nigerian celebrities, Aliko Dangote spends some of his money on luxurious items to make himself feel good. He has one of the grandest mansions in Banana Island, Ikoyi, Lagos. Aliko Dangote also has a mega-mansion in Abuja.

Aliko Dangote has also purchased palaces in France, Italy, England, and Austria. The richest man in Africa has also quite quality real estate in the United States, including a mansion valued close to $4 million in Los Angeles, California, USA.

Among his luxury cars, Aliko Dangote has been spotted with expensive executive cars like the Toyota Prado bulletproof model, Bentleys, Buggatis, two Rolls Royce Phantoms, Mercedes Benz Maybach, and 4 Jeeps. These were the ones we know of. Aliko Dangote doesn’t pride himself in advertising his car fleet.

Aliko Dangote also has a luxury yacht named after his mother “Mariya”, and a Bombardier Global Express XRS Private Jet worth about $50 million. It took Aliko Dangote to 30 hard years to maintain the title of the richest man in Africa.

What active step are you taking to make money and make your country a better place for your countrymen and foreign investors? What business strategy has to taken to scale your business to the next level?

What have you learned from the richest man in Africa, Aliko Dangote?

Do tell us in the comment section below.

Source: InformationNGR

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