With an estimated net worth of more than $18 billion, Aliko Dangote is considered the wealthiest person in Africa and the richest black person in the world.
Dangote’s passion and dedication to capturing his dream career in business made him the founder, chairman, and CEO of the largest industrial conglomerate in West Africa, Dangote Group.
Are you interested in learning more about the wealthiest man in Africa? We’ll tell you everything you want to know about the self-made businessman Aliko Dangote.
Aliko Dangote: Early Life And Education
Aliko Dangote was born in Kano State into a rich Hausa Muslim family. Mariya Sanusi Dantata was the mother of Aliko and Mohammed Dangote was the father. Dangote is the great-grandson of Alhassan Dantata, a wealthy man in West Africa at the time of his death in 1955.
Aliko joined the Capital High School in Kano after finishing his studies at the Sheikh Ali Kumasi Madrasa. In 1978, Aliko received his diploma from Birnin Kudu Government College.
Aliko Dangote: Business Career
Aliko Dangote started the Dangote Group as a small trading business after completing his academic education. He moved to Lagos in the year to develop the business. He persuaded his uncle to grant him a loan so he could run the company.
He used the loan to purchase wholesale imports of necessities from foreign suppliers. He profitably marked up the price of everyday products like sugar, rice, and bagged cement. In three months, he paid back the loan with the profits.
His business flourished and became one of Africa’s major industrial conglomerates. Dangote Cement, Dangote Flour, and Dangote Sugar Refinery are just a few of their subsidiaries.
Nigeria’s sugar market was dominated by Dangote Sugar Refinery. Breweries, soft drink producers, and bakeries are among the businesses it supplies with the product. It is a significant importer of fertilizers, fish, pasta, and rice. It also exports cashew nuts, cocoa, ginger, cotton, and sesame seeds.
The Dangote Group also has significant holdings in banking, real estate, transportation, oil, textiles, and gas in Africa. The conglomerate’s most recent project began operations in February 2022.
Aliko Dangote: Political Activities
President Olusegun Obsanjo’s 2003 reelection campaign was financed by Aliko, who contributed more than N200 million. He gave N50 million to the National Mosque through the friends of the Obasanjo and Atiku organization.
Aliko also gave the Presidential Library N200 million. Despite highly publicized anti-corruption campaigns during Obasanjo’s second term, these highly contentious donations to PDP party members have raised serious issues.
President Goodluck Jonathan selected Aliko to be part of his economic management team in 2011. According to reports, Aliko considered running for president of Nigeria in the 2019 election.
Aliko stated he would not be running for politics and declined to do so. However, Aliko continued to work for Muhammed Buhari’s reelection campaign as a member of a special advisory council.
Aliko Dangote: Other Interests
Aliko Dangote has a great interest in football and is an ardent fan of Arsenal F.C. Besides football, Aliko is also known for his charity works.
For the 2019 African Cup of Nations (AFCON), Aliko Dangote and Femi Otedola promised to provide the Super Eagles of Nigeria $75,000 for each goal scored.
Aliko has expressed interest in purchasing the English soccer team Arsenal F.C. he also donated funding for the renovation of Abuja National Stadium through the Nigerian Ministry of sports.
The Nigerian government reported in 2014 that Aliko had given 150 million nairas to help the nation battling Ebola. Aliko promised to donate $10 million in 2016 to help Nigerians impacted by the Boko Haram insurgency. He gave 200 million naira in March 2020 to help stop the spread of COVID-19 in Nigeria.
Aliko Dangote: Awards And Recognitions
- Former President of Nigeria, Goodluck Jonathan, honored Aliko with The Grand Commander of the Order of the Niger (GCON).
- Aliko became the Forbes Africa Person of the Year in 2014.
- Most Powerful Man in Africa by Forbes in 2013, 2014, 2015, 2016, 2017, and 2018.
- Aliko Dangote was CNBC’s Top 25 Businessmen in the World in 2014.
- Man of the Year of The Guardian in 2015.
- African Business Leader Award by Africa-America Institute (AAI) in 2016.
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Aliko Dangote: Personal Life
Aliko Dangote keeps his personal life away from the public. Aliko was married twice and divorced twice. Hajia Zainab and Mariya A.D. Muhammed Rufai are his ex-wives.
Aliko has three daughters named Fatima, Mariya, and Halima. He had a brother named Sani Dangote, who died in 2021 due to colon cancer.
Aliko Dangote: Net Worth
Aliko Dangote, the wealthy man in Africa, is supposed to have an estimated net worth of more than $18 billion as of 2023.
The significant source of his wealth is from the cement production business and the recent fertilizer plant he owns. As we already discussed, Aliko is a great philanthropist who is passionate about giving back to society.
The 66-year-old business conglomerate owns multiple properties. Aliko once claimed that he has no houses abroad and that all his homes are in Nigeria. He is currently residing in a home in Lagos that is worth millions of dollars.
Aliko has a collection of luxurious cars, including a Bentley Mulsanne, Maybach 57S Knight Luxury, Mercedes Benz CL65 AMG, and Bugatti Veyron. Aliko reportedly owns a private jet.
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