Aliko Dangote Biography, Background and Net Worth

Aliko Dangote is a Nigerian entrepreneur, investor and philanthropist, often referred to as Africa’s richest man. He was born on April 10, 1957 in Kano, Nigeria to a wealthy Muslim family of traders.

Background

Aliko Dangote’s grandfather, Alhaji Sanusi Dantata was a businessmen in West Africa and one of the richest men in Nigeria at the time. Dangote had interest in business right from when he was young. In primary school, he used to buy sweets to sell to his classmates.

He attended Sheikh Ali Kumasi Madrasa before switching to Capital High School in Kano. Dangote later attended Al-Azhar University in Cairo, Egypt where he studied Business Studies and Administration. After his studies he returned to Nigeria and in 1977 at the age of 20 he established the Dangote Group with a loan from his uncle. The company initially traded in basic commodities such as sugar, cement, rice and salt. Over the years Dangote expanded the company into manufacturing and today it is one of the largest conglomerate in Africa.

Business Empire and Achievements

Under his leadership, the Dangote Group diversified into cement production, sugar refining, flour milling and oil refining. The Dangote Cement is the largest cement producer in Africa with operations in over 10 countries. Dangote Sugar another major subsidiary supplies a significant percentage of Nigeria’s sugar demand. The Dangote Refinery a multi billion dollar project in Lagos will be one of the world’s largest refinery reducing Nigeria’s dependence on imported petroleum products.

He has received several awards and recognition including being listed in Forbes list of the most powerful people in the world. Dangote is also a philanthropist having donated millions of dollars to causes in education, health and economic development through the Aliko Dangote Foundation.

Net Worth

According to Forbes, Aliko Dangote is Africa’s richest with a net worth of $13.5 billion. His wealth is mainly from his stake in Dangote Cement which accounts for most of his fortune. He also has an interest in sugar, salt, and oil refining. Despite economic ups and downs, Dangote remains a giant in African business and still expanding his empire across various sectors.