Aliko Dangote was born on April 10, 1957, in Kano, Nigeria, to a family of prosperous merchants. He became interested in business from a young age. While he was in primary school, he bought cartons of sugar boxes and sold them for profit. Dangote graduated from Al-Azhar University in Cairo, Egypt, with a business degree in 1977.
At the age of twenty-one, a year later after he graduated from the university, Dangote used a loan of approximately $3,000 from his uncle, Sanusi Abdulkadir Dantata, to begin a trading enterprise in food staples such as rice and vegetable oil.
In May 1981, he established the Dangote Group. With this group, he extended his business ventures into buying trucks, importing cement, and transport. He later became involved with fish, flour, salt, and sugar distribution throughout Northern Nigeria.
- Aliko Dangote, Africa’s richest man, founded and chairs Dangote Cement, the continent’s largest cement producer.
- He owns nearly 85% of publicly-traded Dangote Cement through a holding company.
- Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa.
- Dangote also owns stakes in publicly-traded salt, sugar, and flour manufacturing companies.
- Dangote Refinery has been under construction for three years and is expected to be one of the world’s largest oil refineries once complete.
Aliko Dangote Net Worth (2020)
Aliko Dangote is the founder and Chairman of Dangote Group and the richest man in Nigeria and Africa with an estimated net worth of $9.9B (N3,598,650,000,000 or N3.5 trillion), according to Forbes.
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