Aliko Dangote Net Worth
In 2007, Aliko Dangote made history by becoming Nigeria’s inaugural billionaire.
The Bloomberg Billionaires Index reported a remarkable surge in his personal wealth, indicating an impressive addition of $9.2 billion in 2013.
This propelled Dangote to the 30th position among the world’s richest individuals, securing his status as the wealthiest person in Africa during that period.
In 2015, revelations from the HSBC leaks brought to light Dangote’s association with HSBC as a client and disclosed his financial assets located in a tax haven in the British Virgin Islands.
Fast-forward to June 2022, and Dangote continues to dominate the ranks as the wealthiest individual in Africa, boasting an estimated net worth of US$20 billion.
His financial journey showcases not only his entrepreneurial success but also his sustained position as a key player in the global wealth landscape.
As of June 2024, Aliko Dangote remains one of the wealthiest people in Africa, with an estimated net worth of US$9.5 billion, maintaining his prominent position as one of the continent’s richest individuals.
Aliko Dangote Information
Born on April 10, 1957, Aliko Dangote is a distinguished Nigerian businessman and industrialist, renowned as the founder, chairman, and CEO of the Dangote Group—the foremost industrial conglomerate in West Africa.
As of November 2023, the Bloomberg Billionaires Index appraised his net worth at a substantial $16.1 billion, securing his position as the wealthiest individual in Africa, the globe’s richest black person, and the 107th richest person worldwide.
Dangote’s entrepreneurial prowess has not only propelled him to the forefront of African business but has also earned him a prominent standing on the global stage of wealth and influence.
Early life
Aliko Dangote, born into affluence on April 10, 1957, in Kano, a part of British Nigeria at the time, hails from a prosperous Hausa Muslim family.
His mother, Mariya Sanusi Dantata, was the daughter of the esteemed businessman Sanusi Dantata, while his father, Mohammed Dangote, was a business associate of Dantata.
Dangote’s lineage connects him to Alhassan Dantata, the wealthiest individual in West Africa at the time of his demise in 1955, through his mother, Mariya.
Business acumen runs in the family, as evidenced by Dangote’s brother, Sani (1959/60–2021), who also made a mark in the business realm.
Dangote’s educational journey began at the Sheikh Ali Kumasi Madrasa, followed by Capital High School in Kano. In 1978, he completed his studies at the Government College, Birnin Kudu.
Furthering his education, Dangote earned a bachelor’s degree in business studies and administration from Al-Azhar University in Cairo. This educational background laid the foundation for his future success in the business world.
Business career
Established as a modest trading firm in 1977, the Dangote Group underwent a transformative journey under Aliko Dangote’s leadership.
Relocating to Lagos in the same year marked a pivotal moment for the company’s expansion.
With a ₦500,000 loan from his uncle, Dangote initiated trading activities in commodities, focusing on bagged cement, rice, and sugar.
In the 1990s, Dangote proposed to the Central Bank of Nigeria a cost-effective solution for managing their staff buses through his transport company, a proposal that gained approval.
Today, the Dangote Group stands as one of Africa’s largest conglomerates, boasting international operations in Benin, Ghana, Zambia, and Togo.
Evolving from a trading entity, it now dominates various industries through divisions like Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
The group’s influence extends across Nigeria’s sugar market, with its refinery serving as a primary supplier to soft drink companies, breweries, and confectioners.
Employing over 11,000 people in West Africa, the company has diversified interests, including salt factories, flour mills, and significant roles as an importer and exporter of various commodities.
Dangote’s strategic approach is evident in the group’s diverse investments, ranging from real estate and banking to transport, textiles, oil, and gas.
Noteworthy milestones include the establishment of the Dangote Peugeot Automobiles Nigeria Limited (DPAN) factory in Kaduna and the commissioning of the Dangote Refinery in Lekki, Nigeria, in May 2023.
The refinery, situated on a vast site in the Lekki Free Trade Zone, is set to transform Nigeria into a petroleum product export hub, with plans for surplus petrol and diesel exports.
Backed by Dangote’s funding, the refinery leverages the world’s longest sub-sea pipeline infrastructure, spanning 1,100 kilometers.
These endeavors exemplify Dangote’s commitment to innovation and economic impact on a global scale.
Political activity
Aliko Dangote played a notable role in President Olusegun Obasanjo’s 2003 re-election bid, contributing over N200 million (US$2 million) and allocating N50 million (US$500 thousand) to the National Mosque through the “Friends of Obasanjo and Atiku” initiative.
Additionally, he contributed N200 million to the Presidential Library. These substantial donations to the ruling PDP party during Obasanjo’s second term raised eyebrows and drew criticism, particularly amid widely publicized anti-corruption campaigns.
In 2011, President Goodluck Jonathan appointed Dangote to his economic management team. Speculation arose in 2017 about Dangote considering a presidential run in the 2019 election. However, he dispelled such notions, affirming his lack of intention to pursue elected office.
Instead, Dangote took on a role in a special advisory committee for Muhammadu Buhari’s re-election campaign, showcasing his ongoing involvement in political circles without seeking elected positions.
Philanthropy
Aliko Dangote has actively collaborated with the Bill & Melinda Gates Foundation on public health initiatives.
His philanthropic efforts include a ₦150 million ($750,000) donation in August 2014 to aid the Nigerian government’s fight against the spread of Ebola.
In May 2016, he pledged $10 million to support those affected by the Boko Haram insurgency in Nigeria.
Additionally, in March 2020, Dangote contributed ₦200 million ($500,000) towards the battle against the spread of COVID-19 in the country.
Football
On the sports front, Dangote, along with Femi Otedola, committed to giving the Nigerian national football team $75,000 for every goal scored in the Africans Cup of Nations (AFCON) in 2019.
Beyond that, his interest in football is evident as an avid supporter of the English football team Arsenal FC.
In 2020, he donated funds to Nigeria’s sports ministry for the renovation of Abuja, the country’s national sports stadium.
Personal life
Aliko Dangote resides in Lagos, leading a bustling lifestyle that includes ownership of two private jets.
Renowned for his strong work ethic, he reportedly dedicates 12 hours daily to work, starting at 5 a.m. and concluding at 5 p.m.
In addition, Dangote maintains an active fitness routine, running approximately 10 miles on a treadmill almost every day.
His marital history includes a marriage to Zainab Dangote in 1977, with the details of their divorce undisclosed.
Subsequently, he married Mariya Muhammad Rufai, but the dates of their wedding and divorce remain unknown.
Dangote is the proud father of three daughters—Halima, Mariya, and Fatimah—and an adopted son named Abdulrahman.
Notably, Halima has ventured into the business world, currently serving as the executive director of commercial operations within her father’s company.
Adding a touch of celebrity connection, in 2023, singer Davido claimed that Aliko Dangote is his godfather, showcasing the businessman’s influence beyond the corporate realm.
Awards and recognition
Dangote was awarded Nigeria’s second-highest honor, the Grand Commander of the Order of the Niger (GCON) by the former president, Goodluck Jonathan.
Dangote was named as the Forbes Africa Person of the Year 2014.
For six consecutive years, 2013, 2014, 2015, 2016, 2017, and 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.
In April 2014, Time magazine listed him among its 100 most influential people in the world.
In October 2015, Dangote was listed among “50 Most Influential Individuals in the World” by Bloomberg Markets.
He 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.
Memberships
Aliko Dangote is actively involved in various international organizations and initiatives.
He serves on the board of the Corporate Council on Africa and holds a position on the steering committee of the United Nations Secretary-General’s Global Education First Initiative, the Clinton Global Initiative, and the International Business Council of the World Economic Forum.
Recognizing his influence and expertise, he was appointed co-chair of the US-Africa Business Center by the US Chamber of Commerce in September 2016.
In April 2017, Dangote extended his contributions by joining the board of directors of the Clinton Health Access Initiative.
His commitment to global causes is further evident through his role on the board of One Campaign.
In August 2022, President Buhari appointed him as the founding Chairman of the Nigeria End Malaria Council.
Additionally, Dangote is a member of the Global End Malaria Council, alongside prominent leaders such as Bill Gates, Ray Chambers, and former President Ellen Johnson Sirleaf, collectively working towards the goal of eliminating malaria on a global scale.
Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.
He owns 85% of publicly-traded Dangote Cement through a holding company.
Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.
After many years in development, Dangote’s fertilizer plant in Nigeria began operations in March 2022.
Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.
Aliko Dangote Facts
– Aliko Dangote, born on April 10, 1957, is a prominent Nigerian businessman and industrialist.
– He is the founder, chairman, and CEO of the Dangote Group, the largest industrial conglomerate in West Africa.
– Dangote’s entrepreneurial journey began in 1977 when he established the Dangote Group as a small trading firm.
– With a ₦500,000 loan, he ventured into trading commodities such as bagged cement, rice, and sugar.
– Dangote’s strategic proposal to the Central Bank of Nigeria in the 1990s resulted in managing their fleet of staff buses through his transport company.
– The Dangote Group has evolved into one of Africa’s largest conglomerates, with international operations in Benin, Ghana, Zambia, and Togo.
– Divisions of the Dangote Group include Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
– Dangote dominates the sugar market in Nigeria, supplying 70% of the market to soft drink companies, breweries, and confectioners.
– His philanthropic contributions include a ₦150 million donation to combat the spread of Ebola in 2014 and $10 million to support those affected by the Boko Haram insurgency in 2016.
– Dangote is an avid supporter of Nigerian football, pledging $75,000 for every goal scored by the national team in the 2019 Africans Cup of Nations (AFCON).
– He has expressed interest in acquiring English football team Arsenal FC and donated funds for the renovation of Nigeria’s national sports stadium in 2020.
– Dangote’s personal life includes marriages to Zainab Dangote and Mariya Muhammad Rufai, with three daughters (Halima, Mariya, and Fatimah) and an adopted son (Abdulrahman).
– Halima, his daughter, serves as the executive director of commercial operations in his company.
– Beyond business and family, Dangote is actively involved in international organizations and initiatives, holding positions on boards such as the Corporate Council on Africa and the Clinton Health Access Initiative.
– He was appointed the founding Chairman of the Nigeria End Malaria Council by President Buhari in August 2022 and is a member of the Global End Malaria Council.
– Dangote’s commitment to social causes is reflected in his active participation in initiatives combating diseases like Ebola and malaria, as well as supporting education and economic development.
– Aliko Dangote, Africa’s wealthiest individual, is the founder and chairman of Dangote Cement, the largest cement producer on the continent.
– He holds an 85% ownership stake in publicly-traded Dangote Cement through a dedicated holding company.
– Dangote Cement boasts an impressive annual production capacity of 48.6 million metric tons and operates in 10 African countries.
– In March 2022, Dangote’s long-anticipated fertilizer plant in Nigeria commenced operations after years of development.
– The ongoing construction of Dangote Refinery, initiated in 2016, is poised to become one of the world’s largest oil refineries upon completion.
