In this post today, I will show you current net worth of Aliko Dangote, houses, cars and every other thing you need to know about him.
Born on the 10th of April 1957, Aliko Dangote is a Nigerian businessman, investor, philanthropist, chairman and owner of Dangote Group. Popularly known as the richest man in Africa, the entrepreneur extraordinaire has successfully built one of the biggest business empires in the whole of the African continent.
Aliko Dangote Net Worth
As of May 2020, Aliko Dangote is currently estimated to be worth $8 Billion Dollars which is about 3.12 trillion Naira.
With such amount of money, he remains the richest African in the whole wide world.
He is followed closely by Nigeria’s Mike Adenuga ($5.9 Billion) and South Africa’s Nicky Oppenheimer ($7.5 billion)
Dangote Added 4.3 Billion US Dollars to his net worth in 2019.
His Early Life And Childhood
Aliko Dangote was born into a Muslim family at Kano, Kano State, Nigeria on April 10, 1957.
His parents were of Hausa descent and were among the richest people of their day.
As a matter of fact, as of 1955 Alhaji Alhassan Dantata (his great grand father) was the richest man in the whole of West Africa.
Now here is the part that catches my attention the most in his story. Even as a child, young Dangote started showing interests in business.
According to him, He would regularly buy a carton of sweets (candy) and sell to his classmates back then in Primary School to make extra cash for himself.
He continued this until he finished his Primary School and went on to do his high education at Capital High School, Kano.
After his High School, he proceeded to Al-Azher University, Cairo, Egypt, where he got a bachelor’s degree in Business Studies and Administration.
Journey Into Business
After his graduation, he managed to get a loan from his uncle which he used to import sugar from Brazil and rice from Thailand. These two items yielded so much profits for him that he was able to pay back the money he borrowed from his uncle in just three months.
That was how his business started growing until it reached the height that it is today. From that first sugar and rice importation he did back then, Aliko now owns the third largest Sugar refinery in the world. As a matter of fact, his sugar refinery is responsible for over 70 percent of the total amount of sugar consumed in Nigeria today.
His company is also the major supplier of sugar to almost all the soft drinks companies and breweries in Nigeria and other parts of Africa today.
In 2015, he expanded the state-owned cement company he had earlier on been awarded by investing millions of dollars into constructing its manufacturing plant. From that 2005, Dangote Cement PLC became the dominant cement producing company in Nigeria, overtaking Ibeto Cement and other cement companies within the country.
Not only did Dangote venture into cement production, he also started producing Pasta, Salt, Flour and several other food items he was once known for importing.
Today, the Dangote Group has several companies under it that focuses on the manufacturing of a particular item e.g. Dangote Flour Mills PLC., Dangote Sugar Refinery PLC., National Salt Company of Nigeria PLC and the most popular one being Dangote Cement PLC.
He is currently building a $10 billion refinery in Lagos, Nigeria, that is capable of producing nothing less than 650,000 barrels of oil per day. It is expected that by 2020, this refinery will kick off operations fully, reducing Nigeria’s fuel importation by a very large percent.
His Group also has their eyes set on the Nigerian telecommunications sector as they are currently building 14,000 kilometres fibre optic cables to cover the whole of Nigeria.
In his viral interview with Al Jazeera News, here is what he said concerning his Group’s method of making investments:
“we are not doing like other Africans who keep money in the bank. We fully invest whatever we have and we keep on investing.”
Of course the entire world can bear witness to those words as the Dangote Group has today invested into lots of business sectors like Real Estate, Banking and Finance, Transportation, Oil and Gas, Building and Construction, Food Processing etc. They don’t look like they are going to stop anytime soon.
Just this morning, I read about his company planning on investing in Diary products in Nigeria. If everything goes as planned, they would be producing at least 500,000 litres of milk on a daily basis.
When asked about his thoughts on the Nigerian economy, h is reportedly quoted to have said:
“Let me tell you this and I really want to emphasis 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.”
In reality, no entrepreneur or businessman dead or alive in the country, has actually invested his money in Nigeria to extend that Aliko Dangote has done. He has given the country almost his all in terms of investments.
With over 12,000 people currently working in his companies, he has contributed so much to the development of the Nigerian economy more than any Nigerian.
Who Taught Dangote To Do Business?
This is one of the numerous questions I have heard people asking about Dangote apart from his net worth and other personal details.
Who mentored him to do business like a pro from the onset? Who really taught him everything or almost everything he knows about business today that made him so successful?
Well, from a child, Aliko lived with his grand father Sanusi Dantata, a very businessman who was trading on oats and rice. It was from him that he learnt the act of buying and selling to the point that from that early stage, he began to practice the things he has learnt in school by selling candies to his school mates during his free time.
From the level of success he has achieved so far, one can easily see the importance of having a mentor even in business, someone who has been where you hope to be and has gotten lots of experience in that area.
Personal Life And Family
According to reports, Aliko Dangote is the proud father of 15 children. Halima Bello (the wife of Sulaiman Sani Bello), Mariya and Fatima Dangote are just a few of them.
He is reported to have married twice and divorced twice. His first marriage being when he was just 21 years old.
So presently, Africa’s richest man is officially single, having separated from his wives twice. He is said to be currently residing in Lagos with the rest of his families.
For a man who is the richest black man alive in the world, one would think he would have houses in different parts of the world. But that is not the case with this man, he actually calls such luxury (having many houses all over the world) a “distraction” and something that takes time.
He would rather have all his houses in Nigeria than anywhere else in the world. Of course he is not your regular kind of a billionaire, he is in a class of his own.
Aliko currently owns a $30 million mansion in Abuja. A house which is thoroughly designed with gold.
Cars And Other Automobiles
The Nigerian richest billionaire is also a lover of clean rides. His car collection includes some of the most expensive cars in the world. Maybach, Mercedes, and Bentleys.
He is also the owner of a $40 million Bombardier’s Global Express XR3 Private Jet.
On the 14th of November, 2011, Goodluck Jonathan (former president of Nigeria) awarded him “Grand Commander of the Order of the Niger (GCON)” the country’s second highest honour.
In 2014, he was named “Africa Person of the Year” by Forbes.
Aliko Dangote (GCON) is also a philanthropist. During the Ebola outbreak in 2014, the money-bag singlehandedly donated 150 million naira to the Nigerian government to enable it fight against the virus.
In 2003, he donated N50 million to the National Mosque. In the same year donated N200 million to the Presidential Library.
He is also reported to have donated over N200 million to former president Olusegun Obasanjo’s re-election bid in 2003. This gift though generated a lot of heat as it was seen as a method of him trying to buy favours from the ruling government.
Aliko Dangote’s inspiring success story is not the story of grass to grace. It is rather the story of a young man born into a business oriented wealthy family, who capitalised on the opportunities around him to become the richest man in Africa today.
While it is true that being into a rich home is not a guarantee that one would end up successful in life, as we seen some people that were born rich end up becoming poor. Dangote’s story has also shown us that being born in such homes can actually give one an advantage in business and in life generally.
From taking a $3,000 loan from his uncle after his graduation from the university, he has successfully established the largest conglomerate in Nigeria and Africa as a whole.
If he completes his recent projects (the petroleum refinery and telecom business), he will move from being an employer of over 12,000 workers to an employer of over 25,000 workers in Nigeria and nearby countries.
Then, his current net worth of $15.8 billion as of January 6, 2020, will look like child’s play.