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What is Aliko Dangote’s Net Worth?
Aliko Dangote, a Nigerian businessman and industrialist, has an estimated net worth of $15.3 billion. He is widely recognized as the richest person in Africa and the wealthiest Black individual globally.
Dangote’s wealth primarily stems from his ownership of the Dangote Group, the largest industrial conglomerate in West Africa. The conglomerate’s most significant asset is Dangote Cement, the largest cement producer in Africa, with an annual production capacity of 48.6 million metric tons and operations in ten African countries.
In addition to cement, Dangote’s business interests span various sectors, including sugar, salt, flour, and recently, oil and gas. His ventures in these industries have significantly contributed to his substantial fortune.
The Dangote Group’s success is a testament to Dangote’s entrepreneurial acumen and strategic business decisions. Starting with a $3,000 loan from his uncle, Dangote initially focused on importing and selling agricultural commodities like rice and sugar. His early success in this venture allowed him to repay the loan within three months, laying the foundation for his expansive business empire. Over the years, Dangote has shifted from trading to manufacturing, significantly increasing his wealth and influence.
In recent years, Dangote has expanded his business portfolio to include the Dangote Refinery, a massive oil refinery in Lagos, Nigeria. This refinery, which began producing diesel and aviation fuel in early 2024, is expected to reduce Nigeria’s reliance on imported petroleum products and save the country billions of dollars annually.
Despite economic challenges in Nigeria, such as currency devaluation and the removal of fuel subsidies, Dangote’s businesses have continued to thrive, further solidifying his position as a leading figure in African business.
Here’s the breakdown of Aliko Dangote’s net worth:
Name: | Aliko Dangote |
Net Worth: | $15.3 Billion |
Date of Birth: | April 10, 1957 |
Profession: | Businessperson, Entrepreneur |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Aliko Dangote was born on April 10, 1957, in Kano, Nigeria, into a wealthy Hausa Muslim family. His mother, Mariya Sanusi Dantata, was the daughter of Sanusi Dantata, a prominent businessman, and his father, Mohammed Dangote, was a business associate of the Dantata family.
Dangote’s entrepreneurial spirit was evident from a young age. He began his first business venture while still in primary school, buying cartons of sweets and selling them individually for a profit.
This early exposure to business was further nurtured by his grandfather, who provided him with pocket money to invest in small trading activities. Dangote’s formal education included attending the Sheikh Ali Kumasi Madrasa and Capital High School in Kano.
He later pursued higher education at Al-Azhar University in Cairo, Egypt, where he earned a bachelor’s degree in business studies and administration.
Career
Aliko Dangote’s career began in 1977 when he established a small trading firm, the Dangote Group, with a $3,000 loan from his uncle. Initially, the business focused on importing and selling agricultural commodities such as rice and sugar. The venture quickly proved successful, allowing Dangote to repay the loan within three months.
Over the years, Dangote expanded his business interests, moving from trading to manufacturing. In 1981, he incorporated the Dangote Group, which has since grown into the largest industrial conglomerate in West Africa. The group’s operations span various sectors, including cement, sugar, salt, flour, and oil and gas.
Dangote Cement, a subsidiary of the group, is the largest cement producer in Africa, with operations in ten countries and an annual production capacity of 48.6 million metric tons.
In recent years, Dangote has also ventured into the oil industry, with the construction of a massive oil refinery in Lagos, Nigeria, which began producing diesel and aviation fuel in early 2024.
Other Work and Philanthropy
Aliko Dangote is not only known for his business acumen but also for his significant philanthropic efforts. In 1994, he established the Dangote Foundation, later renamed the Aliko Dangote Foundation (ADF), which has become the largest private foundation in sub-Saharan Africa.
The foundation focuses on health, education, economic empowerment, and disaster relief. One of its most notable initiatives is the partnership with the Bill and Melinda Gates Foundation to eradicate polio and strengthen routine immunizations in Nigeria.
The foundation has also made substantial contributions to combatting diseases such as Ebola and COVID-19, and it supports various educational and economic empowerment programs across Africa.
Personal Life
Aliko Dangote resides in Lagos, Nigeria, and is known for his rigorous work ethic, often working 12-hour days. He maintains a fitness routine that includes running 10 miles on a treadmill almost daily.
Dangote has been married twice and has three daughters—Halima, Mariya, and Fatimah—and an adopted son named Abdulrahman. His daughter Halima is actively involved in the family business, serving as the executive director of commercial operations at Dangote Group.
Dangote is also an avid football fan, particularly of Arsenal FC, and has expressed interest in purchasing the club.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
