Aliko Dangote Net Worth

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Net Worth: $21 Billion Date of Birth: Apr 10, 1957 (65 years old) Gender: Male Profession: Businessperson, Entrepreneur Nationality: Nigeria

Aliko Dangote is a Nigerian businessman who has a net worth of around $21 billion. Aliko Dangote has in the past been the most wealthy one in Africa. The Dangote family is at present the highest-earning individual in Nigeria by far. He made his fortune through the creation of The Dangote Group, which currently controls a large portion of Nigeria’s commodity markets.

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Early Life

Alhaji Dangote was born March 10, 1957 at Kano, Nigeria. The parents of his father are Mohammed Dangote and Mariya Sanusi Dantata. Dantata is an ethnic Hausa Muslim and is born into a wealthy and prominent Muslim family. His great-grandfather was Alhaji Alhassan Dantata, who was the most prosperous West African at the time of his death in the year 1955. Her maternal grandfather Sanusi Dantata was the director for the Nigerian branch of Shell B.P. and was also one of the founding members of Sanusi Dantata and Sons Limited.

When he was a kid, Dangote showed signs of his entrepreneurial spirit as the business he started was buying large quantities of candy to sell to classmates in elementary school with a substantial income. After his studies through the Sheikh Ali Kumasi Madrasa and Capital High School, Kano completed his studies at the Government College, Birnin Kudu. He then attended Al-Azhar University in Egypt where graduated with a degree in business. After completing his college degree in the 1970s, the 21-year-old Dangote was back in Nigeria. After his return, his powerful uncle of his secured him a hugely lucrative government contract to produce cement, as well as a loan of $5000 to start a small-scale business. After spending some time in Brazil and witnessing the country’s transformation into an industrial powerhouse and a booming economy, he was motivated to pursue similar potential in Nigeria.

Personal Life

Dangote reside in Lagos. He was married twice but divorced three times. Three daughters have been born from marriages including Halima Aliko Dangote as well as an adopted son.

Career

The year 1977 was the time that Dangote established the Dangote Group and, over the last 35 years the company has grown at a phenomenal rate. The year 2013 saw The Dangote Group earn less than $21 billion in revenues. It is the biggest industry conglomerate in West Africa and employs more than 11,000 workers.

It began as a small-scale trading company with its headquarters in Lagos, Nigeria, but it now operates across Africa as well as in countries such as Benin, Ghana, Zambia and Togo. Its main areas of operations include food processing cement manufacturing and sugar refinement, freight and more. From its humble beginnings, the Group is actually comprised of multiple subsidiaries and companies, such as Dangote Sugar Refinery, Dangote Cement, and Dangote Flour, to name just a few.

They are actually the largest actor in the Nigerian sugar market and supply the majority of Nigeria’s soft drink firms including breweries, confectioners and breweries and the Dangote Group makes up about 70% of the market. In all of Africa, the Dangote Group is the largest supplier.

Dangote Group operates the largest sugar refinery in the world, and it is the 3rd largest refinery in the world. They are able to produce up to 800,000 tonnes of sugar annually. Along with sugar Dangote Group also owns salt factories as well as flour mills. They are also the largest importer of fish, rice pasta, cement and fertilizers in Nigeria. In addition, they export items such as cashew nuts, cotton sesame seeds, cashew nuts, and cocoa. Other investments include areas like banking, real estate transportation as well as textiles and oil and gas, and Telecommunications. Around 80% of the company’s revenues is derived directly from Dangote Cement, which is reported to manufacture 44 million tons of cement every year.

Others Work as well as Philanthropy

Dangote has been a major donor to Nigerian political circles. He was a major contributor to Olusegun Obasanjo’s election campaign for re-election in 2003, contributing more than N200 million (US $2.5 million) to the campaign. Other political-related donations he’s made, notably to PDP, the party that is ruling. PDP party The most notable is the N50 million (US $500,000) donation for the National Mosque with the support of “Friend of Obasanjo and Atiku”. These donations have caused controversy and have raised concerns about corruption as well as government relations with private sector leaders.

Dangote is also involved in numerous charitable efforts. Dangote has been a significant donor to health campaigns and issues; He has donated N150 million (US $75,000) to fight the spread of ebola in 2014 and N200 million in the month of March 2020 in order to stop the covid-19 coronavirus that is spreading in Nigeria. He has also partnered in partnership with the Bill and Melinda Gates Foundation to combat polio and other illnesses and is part of the Board of Directors for the Clinton Health Access Initiative. He is a member of the board of the Corporate Council on Africa, as well as a part of Global Education First’s steering committee which is an initiative of the supervision of the United Nations Secretary-General. He also established the Aliko Dangote Foundation, his personal Aliko Dangote Foundation in March 2014, which is focused on health education, education, and economic empowerment.