Aliko Dangote Net Worth: Aliko Dangote is a Nigerian business man and industrialist. He currently has a net worth of 12.7 billion dollars and holds the title as richest man in Africa. His major source of income is from his organization,the Dangote group.
Aliko Dangote Biography
Aliko Dangote was born 10 April 1957 in Kano state Nigeria. He was born into a wealthy family, his father Mohammed Dangote and mother Mariya Sanusi Dantata are Nigerian Muslims and they were both very wealthy people. His great-grandfather is Alhaji Alhassan Dantata, who was the richest West African at the time of his death in 1955. His maternal grandfather, Sanusi Dantata, was the former director of the Nigerian branch of Shell B.P., and also the founder of the company Sanusi Dantata and Sons Limited.
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In an interview, Dangote pointed out how interested he was in business even from childhood. He said he would buy cartons of candy and sell them to his classmates to make profit. Dangote had his primary and secondary education in Kano Nigeria. He received his bachelor degree in business studies and administration from Al-Azhar university Cairo, Egypt.
Dangote returned to Nigeria after graduating at the age of 21 in the 1970s. Upon his return, a powerful uncle secured him a highly lucrative government contract to manufacture cement plus a $5000 loan to launch a small business. Having spent time in Brazil and witnessing that country’s rise to an industrial superpower, he was inspired to seek the same opportunities in Nigeria.
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Aliko Dangote Business Empire
The business empire you know today as the dangote group begun with less than $60,000. Today, Dangote group is a multi billion dollar company. The Dangote group was established in 1977 as a small trading firm, it has grown and operates in multiple countries including Togo, Benin, Ghana and Zambia. Dangote group is the largest conglomerate in Africa and it dominates the sugar market in Nigeria. It supplies sugar to majority of the breweries, and other industries that demand sugar. Dangote Refinery is the largest refinery in Africa and the third largest in the world.
They can produce 800,000 tons of sugar per year. In addition to sugar, the Dangote Group also owns salt factories and flour mills. They also are a major importer of rice, fish, pasta, cement, and fertilizer into Nigeria. On the other hand, they export products like cotton, cashew nuts, sesame seeds, and cocoa. Their other investments are in areas including real estate, banking, transport, textiles, oil and gas, and telecommunications. About 80% of the conglomerate’s revenue reportedly comes from Dangote Cement, which is said to produce 44 million metric tons of cement annually.
Aliko Dangote Personal Life
Dangote has been married and divorced twice. He is currently single and has 4 children, three daughters and one son(adopted).
Aliko Dangote Awards and Recognition
- Dangote was awarded Nigeria’s second-highest honour, the Grand Commander of the Order of the Niger (GCON) by the former president, Goodluck Jonathan.
- He was named as the Forbes Africa Person of the Year 2014.
- For six consecutive years, 2013-2018, Forbes listed him as the “Most Powerful Man in Africa”.
- In 2014, he was listed CNBC’s “Top 25 Businessmen in the World” who changed and shaped the century.
- Time magazine listed him among its 100 most influential people in the world in April 2014.
- In October 2015, Dangote was listed among “50 Most Influential Individuals in the World” by Bloomberg Markets.
- Dangote won “The Guardian Man of the Year 2015”.
- He won the “2016 African Business Leader Award”, organized by the Africa-America Institute (AAI).
- Dangote was cited as one of the top 100 most influential Africans by New African magazine in 2015, 2017 ,2018 and 2019.
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