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Who is Aliko Dangote and what is his net worth?

Alhaji Aliko Dangote was born in Kano, Nigeria, on April 10, 1957. Mohammed Dangote and Mariya Sanusi Dantata are his parents. He is an ethnic Hausa Muslim from a renowned and prosperous Muslim family. Alhaji Alhassan Dantata, the richest West African at the time of his death in 1955, is his great-grandfather.

Sanusi Dantata, his maternal grandfather, was the former director of the Nigerian branch of Shell B.P. and the founder of the company Sanusi Dantata and Sons Limited.


Aliko Dangote’s Net Worth

According to Celebrity Net worth, Aliko Dangote is a Nigerian businessman with a $21 billion net worth. Aliko Dangote has been Africa’s richest man at times.

 

He is currently the wealthiest individual in Nigeria. He amassed his fortune by forming The Dangote Group, which currently controls a large portion of Nigeria’s commodities.

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Schooling and Agreement signs

As a child, Dangote demonstrated his innate entrepreneurial spirit by purchasing candies in bulk to sell to his elementary school peers for a substantial profit. After attending Sheikh Ali Kumasi Madrasa and Capital High School, Kano, he completed his schooling at Government College, Birnin Kudu. He graduated from Al-Azhar University in Egypt with a degree in business.

After graduating from college at the beginning of the 1970s, Dangote, then 21 years old, returned to Nigeria. A wealthy relative won him a lucrative government contract to produce cement and a $5,000 loan to start a modest business upon his return.

Having spent time in Brazil and witnessed that nation’s development to industrial giant status, he was motivated to pursue similar chances in Nigeria.


His Career

Dangote founded the Dangote Group in 1977, and during the past 35 years, the company has expanded at an astounding rate. The Dangote Group had just around $21 billion in revenue in 2013. It is the largest industrial conglomerate in West Africa, employing over 11,000 individuals.

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It began as a tiny trading company with headquarters in Lagos, Nigeria, but today has activities throughout Africa, notably in Benin, Ghana, Zambia, and Togo. Its operations include food processing, cement production, freight, and sugar refining, among others. In contrast to its humble beginnings, the Group consists of numerous firms and subsidiaries, including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour, among others.

Aliko Dangote | Fortune

The Dangote Group controls around 70 percent of the Nigerian sugar market and supplies the majority of soft drink firms, breweries, and confectioners. Across the whole African continent, the

Dangote Group has the largest and third-largest sugar refinery in the world. They are able to produce 800,000 tonnes of sugar annually. In addition to sugar, the Dangote Group includes flour mills and salt factories. They are also one of Nigeria’s largest importers of rice, seafood, pasta, cement, and fertilizer.

Alternatively, they export cotton, cashews, sesame seeds, and cocoa. Other fields in which they have investments include real estate, finance, transportation, textiles, oil and gas, and telecommunications. According to reports, around 80% of the conglomerate’s earnings is generated by Dangote Cement, which produces 44 million metric tonnes of cement annually.

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Other Work and Donations

Dangote has been a notable political donor in Nigeria. In 2003, he contributed more than N200 million ($2 million) to the re-election campaign of Olusegun Obasanjo. Other political contributions he has made include an N50 million (US$500,000) donation to the National Mosque with the support of “Friend of Obasanjo and Atiku.” These payments have sparked worries about corruption and the government’s relationship with private industry executives.

Dangote has also been heavily active in numerous charitable endeavors. He has been a substantial contributor to public health concerns and campaigns, donating N150 million (about $75,000) in 2014 to combat the spread of ebola and N200 million in March 2020 to combat the spread of the Covid-19 coronavirus in Nigeria.

He has also worked with the Bill and Melinda Gates Foundation to combat polio, among other challenges, and serves on the board of the Clinton Health Access Initiative. He is a board member of the Corporate Council on Africa and a member of the steering committee of the Global Education First Initiative, an initiative of the United Nations Secretary-General.

In March 2014, he also launched the Aliko Dangote Foundation, which focuses on health, education, and economic development.


Private Life

He resides in Lagos. He has been twice married and twice divorced. He has three biological daughters, including Halima Aliko Dangote, and one adoptive son.


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