Aliko Dangote Net Worth: Aliko Dangote may be a Nigerian businessman who features a net worth of $7 billion. Aliko Dangote has sometimes been the richest person in Nigeria, and therefore the richest person in Africa. In 2014, at the height of his wealth, Aliko’s net worth topped $16 billion. He earned his net worth by founding The Dangote Group, which now controls much of Nigeria’s commodities.
Aliko Dangote Net Worth
Early Life: Alhaji Aliko Dangote was born on April 10, 1957, in Kano, Nigeria. His parents are by name; Mohammed Dangote & Mariya Sanusi Dantata. he’s an ethnic Hausa Muslim, and is from a prominent and wealthy Muslim family. Where, Alhaji Alhassan Dantata is his Grand Father’s Name, who was the richest West African at the time of his death in 1955. His maternal grandfather, Sanusi Dantata, was the previous director of the Nigerian branch of Shell B.P., and also the founding father of the corporate Sanusi Dantata and Sons Limited.
As a child, Dangote showed signs of his innate entrepreneurial spirit when he launched a business buying candy in bulk to sell to his grade school classmates for a hefty profit. After receiving education at the Sheikh Ali Kumasi Madrasa, and Capital highschool , Kano, he graduated from the govt College, Birnin Kudu. He attended Al-Azhar University in Egypt where he earned a degree in business. After graduating from college within the early 1970s, the 21 year old Dangote returned to Nigeria. Upon his return, a strong uncle secured him a highly lucrative government contract to manufacture cement plus a $5000 loan to launch alittle business. Having hung out in Brazil and witnessing that country’s rise to an industrial superpower, he was inspired to hunt an equivalent opportunities in Nigeria.
Career: In 1977, Dangote launched the Dangote Group, and over the last 35 years, the corporate has grown at a very fast pace. In 2013, The Dangote Group earned slightly below $21 billion in revenue. it’s the most important industrial conglomerate in West Africa , and employs quite 11,000 people.
It originally started as alittle trading firm headquartered in Lagos, Nigeria, but now has operations everywhere Africa, including in countries like Benin, Ghana, Zambia, and Togo. Its areas of operation include food processing, cement manufacturing, freight, sugar refinement, etc. faraway from its humble origins, the Group actually consists of multiple companies and subsidiaries, including Dangote refinery , Dangote Cement, and Dangote Flour, to call a couple of .
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They are actually the most player within the Nigerian sugar market, and are the supplier for many of the country’s beverage companies, breweries, and confectioners; the Dangote Group makes up about 70 percent of the market. Across the whole continent of Africa.
Dangote Net worth 2020 in Naira
Dangote Group operate the most important refinery , and therefore the third largest within the world. they will produce 800,000 plenty of sugar per annum . additionally to sugar, the Dangote Group also owns salt factories and flour mills. They are also a serious importer of rice, fish, pasta, cement, and fertilizer into Nigeria. On the opposite hand, they export products like cotton, cashew nuts, sesame seeds, and cocoa. Their other investments are in areas including land , banking, transport, textiles, oil and gas, and telecommunications. About 80% of the conglomerate’s revenue reportedly comes from Dangote Cement, which is claimed to supply 44 million metric plenty of cement annually.
Other Work and Philanthropy: Dangote has been a prominent donor in Nigerian politics. He helped fund Olusegun Obasanjo’s re-election campaign in 2003, giving over N200 million (US $2 million) to the trouble . Other politics-related donations he has made, especially associated with members of the ruling PDP party, include a N50 million (US $500,000) contribution to the National Mosque with the backing of “Friend of Obasanjo and Atiku”. These donations are highly controversial, sparking concerns over corruption and government relations with private industry leaders.
Aliko Dangote Net Worth In Naira
Dangote has also been highly involved in many philanthropic efforts. He has been a serious contributor to public health issues and campaigns; he donated N150 million (US $75,000) to combat the spread of ebola in 2014, and N200 million in March 2020 to combat the spread of Covid-19 coronavirus in Nigeria. He has also collaborated with the Bill and Melinda Gates Foundation to focus on polio, among other issues, and is on the Clinton Health Access Initiative’s Board of Directors. he’s a member of the company Council on Africa, also as a member of the worldwide Education First Initiative’s committee , which is an initiative under the United Nations Secretary-General. Additionally, he established his own Aliko Dangote Foundation in March 2014, which focuses on problems with health, education, and economic empowerment.
Personal Life: Dangote lives in Lagos. He has been married twice, and divorced twice. He has three daughters from his marriages, including Halima Aliko Dangote, also together adopted son.