Nigeria: Who is Aliko Dangote, Africa's richest man with a £10.8bn fortune?

The golden child of Nigerian business circles, Aliko Dangote (58), may have been hit by the commodity price crash but he has not been knocked from the top of the leader board of Africa's richest men, with a $16.2bn (£10.8bn, €15.3bn) net worth as of 2 December, according to Forbes.

The golden child of Nigerian business circles, Aliko Dangote (58), may have been hit by the commodity price crash but he has not been knocked from the top of the leader board of Africa's richest men, with a $16.2bn (£10.8bn, €15.3bn) net worth as of 2 December, according to Forbes.


Born into a wealthy Hausa Muslim family in Kano in 1957, the young detribalised Dangote was only 20 when he established his small trading business in 1977, focusing on commodities and building supplies.
Nigeria's Aliko Dangote
Nigeria's richest man, Aliko Dangote, co-chaired the World Economic Forum (WEF) Annual Meeting in Davos in 2014.
He launched his business after his uncle lent him 500,000 naira. He inherited three cement trucks from his grandfather - as was the practice then - and took out a loan repayable over two years. Because cement was a scarce and expensive commodity at the time in Nigeria, the business rapidly grew, and after incorporating a number of companies in the early 1980s, the business became Dangote Cement.

Today, the Dangote group is the largest business conglomerate in West Africa, with a market capitalisation of $15.5bn, and supplies telecoms, textiles, and commodities such as cement, sugar, salt, and rice at competitive prices.
Spanning across numerous sectors of the Nigerian economy, the group is the largest private employer in Nigeria, and invests in 18 countries across Africa. His cement plant of Obajana - located half-way between the economic capital Lagos and the political capital Abuja, is poised to soon become the largest in the world, capable of filling up a 30 tonne truck every 30 seconds. By 2014, Dangote peaked on Forbes' list as the 23rd richest person in the world.

However, plunging oil prices, falling stock prices, and dwindling dollar reserves in Nigeria, were expected to badly affect Dangote. By November 2014, after the Naira devalued 10%, his fortune had slumped to $7.8 billion.

But now in December 2015, Dangote remains the richest man in Africa and the 67th richest person in the world, according to Forbes. His company opened up to new markets, notably Brazil and Indonesia, and retained its real estate and transport businesses.

It is reported that within the next few years, Dangote Group could provide almost 10% of Nigeria's GDP - the largest economy in Africa - and employ up to 22,000, on completion of ongoing projects.

Known for having said: "If you give me today $5bn, I will not invest any abroad, I will invest everything here in Nigeria. Let us put heads together and work", the mogul in June declared an interest in buying Arsenal Football Club.

The tycoon was criticised by a number of Nigerians for not investing in domestic leagues in the country, but Dangote told Forbes at the time: "The issue is that if I buy all the Nigerian clubs, the Nigerian flags will continue to remain here." To generate the funds needed to stage a majority takeover of the Gunners, who are valued at £821m ($1.3bn) by Forbes, Dangote was hoping to build an oil refinery
Workers attend a commissioning ceremony at Dangote cement factory in Obajana in Nigeria's central state of Kogi June 11, 2012.
The sporting ground is not Dangote's own pastime. A global philanthropist, the tycoon has set up the largest foundation in Africa, with an endowment of $1.25bn, and aims at improving the nutrition, health and education of millions of Nigerians.

The organisation was said to have been at the vanguard of containing the spread of Ebola in Nigeria, and other parts of Africa - being the largest private contributor to the African Union Ebola Trust Fund with a donation of $3bn.


Disclaimer: The Content Or Opinions Expressed On This Web Site Are Not To Be Interpreted As Medical Advice. Please Consult With Your Doctor Or Medical Practitioner Before Utilizing Any Suggestions On This Web Site.

COMMENTS

Name

10 Years,1,1948 Arab–Israeli War,1,1948 Palestinian exodus,1,1984 Summer Olympics,1,1st Duke of Wellington,1,2007 NBA Playoffs,1,2009 French Open,1,2010 FIFA World Cup,1,2013 Presidents Cup,1,2016 Summer Olympics,1,2016 Zimbabwe protests,2,20th Century Fox,1,3rd Street,1,A Course in Miracles,1,A-ok,1,Abacus Data,1,Abby Wambach,1,ABC Studios,1,Abraham,1,Abuja,1,Academy Award,1,Access (economics),1,Ace Attorney,1,Acton Institute,1,Adam Baker,1,Adams Street (BMT Myrtle Avenue Line),1,Adrian Peterson,1,Advertising,2,Advertising Age,1,Affectional orientation,1,Affluence in the United States,1,Africa,5,Africa Cup of Nations,1,Aging of wine,1,Air Canada Centre,1,Airline,1,Al-Shabaab (militant group),1,Ali Williams,1,Alibaba,1,Alibaba Group,2,Aliko Dangote,8,All-America,1,Alternative for Germany,1,Alternative investment,1,AlterNet,1,Amancio Ortega,1,Amber Rudd,1,Amélie Mauresmo,1,American Dream,1,American Heart Association,1,American Library Association,1,American National Election Studies,1,Americas,1,Amorepacific Corporation,1,Analytical skill,1,Andrew Breitbart,1,Andy Bruce,1,Andy Dehnart,1,Andy Murray,1,Anglican Communion,1,Anglican Consultative Council,1,Angola,1,Angst,1,Animal husbandry,1,Anna Karolína Schmiedlová,1,Apollo Justice: Ace Attorney,1,App Store (iOS),1,Apple Inc.,5,Application programming interface,2,AQR Capital,1,Argentina,1,Ariana Grande,1,Arthur Wellesley,1,Artist,1,Arun Jaitley,1,Asian Americans,1,Asser,1,Assistant director,1,Associated Press,4,Association football,1,Association football culture,1,Aston Park Tennis Center,1,Athena,1,Atlanta,1,Atlassian,1,Australia,2,Australian Bureau of Statistics,1,Baby boomer,1,Bachelor of Arts,1,Balance sheet,1,Ballistic missile,1,Bangkok,1,Bank account,1,Bank of England,2,Banking,1,Banking in India,1,Barack Obama,4,BB cream,1,BBC,2,Beijing,1,Being Mary Jane,1,Benjamin Franklin,1,Bernard Arnault,1,Beverly Hills,1,Bill Gates,7,Bill of materials,1,Billboard (magazine),1,Billboard Hot 100,1,Billionares,11,Biographies,2,Birmingham,1,Black Entertainment Television,1,Blue Bottle Coffee,1,Board of directors,1,Breaking News,18,Brexit,1,British South Africa Company,1,Budgeting,6,Burnley F.C.,1,Business,7,Businesses,53,Calabasas,1,California,5,Cameroon,1,Cameroon News,1,Canada,1,Canadian National Railway,1,Capcom,1,Capital gains tax,1,Carrie Underwood,1,Celebrities,1,Certified Financial Planner,1,Chairman,1,Charlie Munger,1,Chelsea F.C.,1,China,2,Chinese language,1,Chris Bosh,1,Christmas,1,Cleveland,1,Cleveland Cavaliers,2,Cloudy Bay,1,Companies,5,Continental Resources,1,Contract,1,Craig Venter,1,Cricket South Africa,1,Cristiano Ronaldo,1,Cupertino,2,Customer relationship management,1,David Icke,1,Davido,2,Death by natural causes,1,Debt,1,DeMar DeRozan,1,Democratic Part,1,Dick Enthoven,2,Directorate General of Economic Enforcement,1,Donald Trump,4,Dude Perfect,1,Dustin Moskovitz,1,Dwyane Wade,1,Earnings,2,Earnings call,2,Eastern Conference (NBA),1,Ecolab,1,Economic inequality,1,Education,1,Ellen DeGeneres,1,Elon Musk,1,England,1,Entrepreneur,1,Entrepreneurs,3,Entrepreneurship,3,Equal Protection Clause,1,Establishment Clause,1,Evan Williams,1,Evangelicalism,1,Facebook,5,Falcon 9,1,FC Barcelona,1,Feature phone,1,Finances,4,Financial adviser,1,Financial planner,1,Financial statement,1,Finland,1,Folorunsho Alakija,1,Forbes,1,Foxconn,1,French Open,1,Garbiñe Muguruza,1,Gerald Celente,1,Global Positioning System,1,Golden State Warriors,1,Goodwill Shana,1,Government of India,1,Greatest Zimbabweans,4,Grey's Anatomy,1,Gross domestic product,1,Gucci Mane,1,Harare,3,Harold Hamm,1,Harvard Business Review,1,Harvard Business School,1,Harvard University,1,Health,1,Helena Blavatsky,1,Herman Chinery-Hesse,2,Hillary Clinton,3,History of the United States,1,Hong Kong,1,Hope Solo,1,How Tos,11,Human Potential Movement,1,Hwange National Park,1,India,1,Indian Premier League,1,Indiana,1,Initial public offering,1,Insurace,1,International Monetary Fund,1,Internet,1,Investment,1,IPhone,3,Jack Ma,8,Jeff Bezos,1,Jerry Robinson,1,Job Growth,1,Joint Chiefs of Staff,1,Kanye West,1,Kerry Washington,1,Kevin Durant,1,Killing of Cecil the lion,1,Kim Jong-un,1,Kim Kardashian,1,Kingfisher Airlines,1,Korean language,1,LeBron James,2,Leicester City F.C.,1,LinkedIn,2,Lionel Messi,1,Loan,1,London,1,Los Angeles,1,Louis Vuitton,1,LVMH,1,Make-up artist,1,Manchester,1,Manchester United,1,Manchester United F.C.,1,Mara Brock Akil,1,Maria Sharapova,1,Mark Zuckerberg,5,Massachusetts,1,Medium (TV series),1,Men In Business,43,Miami Heat,1,Michael Jackson,1,Michelle Obama,1,Microsoft,1,Microsoft Office 365,1,Microsoft Windows,1,Military parade,1,Millionaires,52,Minister of Finance (New Zealand),1,MiraCosta College,1,Mobile Web,1,Money,2,Monthly Active Users,1,Morgan Tsvangirai,1,Muhammad,1,Muhammad Ali,1,Muhammadu Buhari,1,Nashua River,1,National Basketball Association,2,Nativity scene,1,Net worth,1,New Corporation,1,New York Angela Merkel,1,New Zealand,1,News,37,Nigel Chanakira,1,Nigeria,1,Nokia,1,North Korea,1,Nuclear weapons testing,1,Oceanside,1,Oklahoma City Thunder,1,Olympic Games,1,Oprah Winfrey,1,Oprah Winfrey Network (U.S. TV channel),1,Paris,2,Patrick Awuah,2,Philip Chiyangwa,1,Politics,3,Pony Ma,1,Portugal national football team,1,Premier League,2,President of the United States,2,President Robert Mugabe,1,Priscilla Chan,1,Production company,1,Prophet Magaya,1,Prophet Uebert Angel,1,Publishing,1,Pyongyang,1,Real Madrid C.F.,1,Reality television,1,Reid Hoffman,1,Republican Party (United States),3,Retail and Wholesalers,1,Revenue,2,Richard Branson,2,Richest Person,5,Robert Kiyosaki,1,Robert Mugabe,1,Ronaldo,1,Rotary International,1,Roth IRA,1,Rubber duck,1,Russell Westbrook,1,Sacrifice Chirisa,1,Sales,2,Salesforce.com,1,Sam Neill,1,Sarah Huffman,1,Satya Nadella,1,Seoul,1,Serena Williams,1,Share (finance),1,Shingi Munyeza Articles,10,Shonda Rhimes,1,Simon Towns,1,Simpson Street,1,Slider,100,Small Business,3,SMEs,50,Social media,1,SoftBank,1,South Africa,1,South Bend,1,South Korea,1,SpaceX,1,Special drawing rights,1,Stanislas Wawrinka,1,Start Ups,3,Steve Ballmer,1,Steve Jobs,3,Steve Wozniak,1,Stockmarkets,1,Strive Masiyiwa Articles,21,Supreme Court of the United States,1,Taylor Swift,1,Tech Industry,1,Tencent Holdings,2,The Boston Globe,1,The Elkhart Truth,1,The Oprah Winfrey Show,1,Theresa May,1,Tips,60,Tokyo,1,Top Stories,9,Toronto,1,Toronto Raptors,1,Travis Scott,1,Twitter,3,United Kingdom,2,United States,8,United States Constitution,1,United States district court,1,United States Soccer Federation,1,Vending machine,1,Venice,1,Vice President of the United States,1,Wall Street,2,Warren Buffett,1,Wealth,3,Wealth management,2,Wealthy Women,20,Wet Reckless,1,Wither Hills Vineyards,1,Women In Business,31,Zane Lowe,1,Zimbabwe,6,Zinedine Zidane,1,
ltr
item
African Millionaires: Nigeria: Who is Aliko Dangote, Africa's richest man with a £10.8bn fortune?
Nigeria: Who is Aliko Dangote, Africa's richest man with a £10.8bn fortune?
The golden child of Nigerian business circles, Aliko Dangote (58), may have been hit by the commodity price crash but he has not been knocked from the top of the leader board of Africa's richest men, with a $16.2bn (£10.8bn, €15.3bn) net worth as of 2 December, according to Forbes.
http://d.ibtimes.co.uk/en/full/1473072/nigerias-aliko-dangote.jpg?w=736
African Millionaires
http://africanmillionares.realinfozones.com/2015/12/nigeria-who-is-aliko-dangote-africas.html
http://africanmillionares.realinfozones.com/
http://africanmillionares.realinfozones.com/
http://africanmillionares.realinfozones.com/2015/12/nigeria-who-is-aliko-dangote-africas.html
true
3084929495899154524
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy