Nigerian Businessman Aliko Dangote Biography & Net Worth (See Details)

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Nigerian Businessman Aliko Dangote Biography & Net Worth (See Details)

Aliko Dangote GCON is a Nigerian billionaire businessman, who is the founder and chairman of Dangote Group, an industrial conglomerate in Africa. He has an estimated net worth of US$8.3 billion, making him the 162nd wealthiest person in the world and the richest person in Africa.

Aliko Dangote Biography

• Aliko Dangote is a Nigerian business magnate. He is an entrepreneur, investor, and philanthropist whose impact is felt globally. 

• Aliko Dangote is the chairman and CEO of Dangote Group; the largest manufacturing conglomerate in West Africa.

• Aliko Dangote is very frequent on Forbes Top 200 list of the richest people. His peak on this list in 2020, was the 162 richest person in the entire world. Currently, according to the official Forbes website, this businessman is the 66th most powerful person worldwide.

• Aliko Dangote, Africa’s richest man, founded and chairs Dangote Cement, the continent’s largest cement producer.

Early Life

• Aliko Dangote was born on the 10th of April, 1957 to the family of Mohammed Dangote and Mariya Sanusi Dantata, a wealthy Muslim family in Kano State.

• His Grand Father Alhaji Alhassan Dantata was the richest African at the time of his death in 1955.

• Dangote attended Sheikh Ali Kumasi Madrasa followed by Capital high school, kano. He finished from Al-Azhar University, Cairo has a Bachelor’s Degree in Business and Administration

Dangote has said:

“I can remember when I was in primary school, I would go and buy cartons of sweets [candy] and I would start selling them just to make money. I was so interested in business, even at that time”

Business Career

• Aliko Dangote came from a pretty wealthy and respected family

• It is no surprise that Aliko Dangote picked interest in the business at a young age from his grandfather.

• Dangote came from a wealthy family but that doesn’t affect his lifestyle maybe by working in the family business, He charted a new cause for himself.

• Aliko father passed away very early, Aliko’s rich grandpa had to take over and become his guardian. However, the story of Aliko Dangote is still very inspirational, because not every wealthy person can still work hard to achieve personal accomplishments, and have such exceptional business skills.

• At the age of 21, Aliko Dangote borrowed $3,000 Converting to Nigeria Naira as at that time was #500,000 from his uncle with an agreement to pay back the loan in 3 months.

• He started importing Rice from Thailand and Sugar from Brazil. Due to his hard work and strong business ethics, His business venture quickly became a success, and as a result, he realized over $10,000 daily as net profit and was able to pay back the loan before the due date.

• Dangote discovered that importing goods from other countries costs more and may not get his business where he wants it to be. 

• The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.

• The company started with the production of Sugar, Flour, and Pasta, Dangote has expanded to cover food processing, cement manufacturing, and freight.

• The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country’s soft drink companies, breweries, and confectioners. 

• The Dangote Group has moved from being a trading company to be the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.

•  In 2005, he significantly expanded the operation of the company by constructing a multimillion-dollar manufacturing plant. The construction was done with the bulk of his money and a loan from the World Bank International Finance Corporation. Dangote Group has grown into a multibillion dollars company and has expanded into other sectors 

• Dangote’s business interests encompass many industries, including oil and gas, consumer goods, and manufacturing. About 80% of his conglomerate’s revenue comes from Dangote Cement. According to Forbes magazine, the subsidiary produces 44 million metric tons of cement every year and plans to increase output by 33% by 2020.

• Dangote also owns the world’s third-largest sugar refinery,  producing 800,000 tonnes of sugar annually. Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement, and fertilizer.

• The company exports cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries, and together all of his publicly traded companies make up a quarter of the market capitalization of the Nigerian Stock Exchange.

• The company employs more than 11,000 people and is the largest industrial conglomerate in West Africa.

• Aliko Dangote turned a local commodities trading businesses into a multibillion-dollar corporation.

• Aliko Dangote believes in giving back to the community which made Dangote Group start the Aliko Dangote Foundation. 

• Through Aliko Dangote Foundation, the company and Dangote give back to society.  

• The Foundation’s main objective is to reduce the number of lives lost in diseases due to malnutrition. 

• They achieve their objectives by leveraging Aliko Dangote’s investment in different sectors. The Foundation also combats Severe Acute Malnutrition (SAM) and improves the outcome of children’s lives.

• In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal that was also approved.

• He also donated money to the Nigeria sports ministry to renovate the national stadium, Abuja

He said, 

“Let me tell you this and I want to really emphasize it … nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work.”

Personal Life

• Nigerians want to know the wife of the richest man in Africa whether Aliko Dangote is married. Even though this man is so wealthy and has unlimited amounts of money, he is not able to buy everything. 

• He was married twice and also dated a few women, but none of these unions lasted

• His first marriage was when he was only twenty years old. His wife was chosen for him by his family, and their marriage did not last long. Later, he fell in love with another woman “Nafisat Yar’auda. However, Nafisat did not want to marry him and rejected his proposal. The second wife of Aliko Dangote was Maria Muhammad Rufai. This marriage also ended in divorce. After he split up with Maria, 

• The rumors appeared in the media about his romance between him and the beauty queen Sylvia Nduka. They were even rumored to be married in secret. But unfortunately, this union was no more successful than the previous ones.

• The successful Businessman is a father to three daughters. Their names are Halima, Fatima, and Mariya. They were very studious and graduated from universities in the United Kingdom. Despite the fact that their father is so wealthy, they are leading a very modest way of life.

• The oldest daughter of Aliko, Halima is married to Sulaiman Sani Bello, and together they have two lovely daughters. 

• Mariya is a graduate of Coventry University. All the daughters are involved in the family business and hold respectable positions at his corporation. 

• Aliko Dangote also has an adopted son, whose name is Abdulrahman Fasasi. The businessman is very proud of all of his children.

Aliko Dangote Donations

• N50 million donations to the National Mosque.

• N200 million donation to the Presidential Library.

• $750,000 to halt the spread of ebola in 2014.

• $100 million to the fight against child malnutrition in Nigeria in 2017.

• In 2018, Aliko Dangote built homes worth $5.6million for internally displaced persons in Borno State.

• N7 billion to support displaced persons affected by Boko Haram terrorists in the Northeast.

• N50 million donation to the Lagos State Security Trust Fund.

• Built the Police Intelligence Hostel Complex in Kwara State.

• Donated 150 fully-kitted operational vehicles to the Police Force.

• he was given the second-highest national honorary award.

Award & Recognition

• Leading provider of employment in Construction Industry 2009

• Dangote was awarded Nigeria’s second-highest honor, the Grand Commander of the Order of the Niger (GCON) by the former president, Goodluck Jonathan.

• Grand Commander of the order of the Niger  2011

• Honorary citizenship of Arkansas State 2013

• Dangote was named as the Forbes Africa Person of the Year 2014

• Dangote was listed among 100 most influential people in the world 2014 by Time Magazine

• In 2014, he was listed CNBC’s ‘Top 25 Businessmen in the World’ that changed and shaped the century 

• For six consecutive years, 2013, 2014, 2015,  2016, 2017, and 2018,  Forbes listed him as the ‘Most Powerful Man in Africa

• Clinton Global Citizen Award 2015

• Love to the world Initiative Builders Award 2016

• He won the ‘2016 African Business Leader Award,’ organized by the Africa-America Institute (AAI)

• Guardians Manufacturing CEO of the year 2017

• Ahmadu Bello University Corporate Award 2018

Aliko Dangote Net Worth

• Dangote is the richest man in Nigeria and Africa, 162 positions of the Richest man in the world and 66th powerful Person in the world

• Aliko Dangote, Africa’s richest man, 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 produces 45.6 million metric tons annually and has operations in 10 countries across Africa.

• Dangote also owns stakes in publicly-traded salt and sugar manufacturing companies.

• Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete

• Real-time net worth as of June 6th, 2020 is $8.3B. 

FAQ (Frequently Asked Questions) Related To Aliko Dangote Biography

Q1). How did Dangote get rich?

At the age of 21, Aliko Dangote borrowed $3,000 Converting to Nigeria Naira as at that time was #500,000 from his uncle with an agreement to pay back the loan in 3month

He started importing Rice from Thailand and Sugar from Brazil. Due to his hard work and strong business ethics

Q2). Who is Dangote Father?

Mohammed Dangote is the Father of Aliko Dangote and Mariya Sanusi Dantata is the mother

Q3). Does Dangote have Children?

Yes, he was blessed with three female daughters whose names are Halima, Fatima, and Mariya.

Q4). What is Dangote Net Worth on Forbes?

Aliko Dangote is the richest man in Africa with an estimated net worth of $8.3billion.