Aliko Mohammad Dangote: The Biography of the Richest Black Person in the World
FULL NAME: Aliko Mohammad Dangote
NET WORTH : 14.7 billion USD Forbs Estimate
DATE OF BIRTH: Born on 10 April 1957
OCCUPATION: Business man [Owner of the Dangote Group]
MARITAL STATUS: Married
WIVES : Once married Mariya A D Muhammad Rufai, Sylvia Nduka AD, Nafisat Yar’adua
CHILDREN : Mariya Dangote, Fatima Dangote and Halima Dangote.
INVESTMENTS : Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertilizer. The company exports cotton, cashew nuts, cocoa, sesame seed and ginger to several countries. HE is also into real estate, banking, transport, textiles and oil and gas.
PARENTS : Mohammed Dangote and Hajia Mariya Sanusi Dantata
Aliko Dangote GCON is one of the most popular face in the history of Africa, is the richest man in Africa and owner of the Dangote Group, which has interests in commodities like Cement,Sugar, foods and several other commodities. The company operates in Nigeria and other African countries, including Benin, South Africa, Togo, Ethiopia, Senegal, Cameroon, Ghana, Tanzania, and Zambia.
According to Forbes Magazine, the Nigerian billionaire who also owns Dangote Group, is ranked as the 67th richest person in the world and the richest in Africa. In 2014, Aliko Dangote was the 23rd richest person in the world but he has been pushed down to 67th resulting from periodic change as people are succeeding in their endeavors everyday , the ranking is being altered. Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi use to be the richest person in Africa but he was later unseated by Aliko Dangote in 2013 by over $2.6 billion to become the world’s richest person of African identity.
Early Life And Background
Aliko Dangote was born on 10 April 1957 into a wealthy Muslim family , they are Muslim from Kano State, Nigeria. His parents are both Muslims and had a strict Muslim upbringing. He is the great-grandson of Alhaji Alhassan Dantata, the richest African man during his reign far back in 1955. Aliko read Business Studies at Al-Azahar University, Cairo, Egypt. He was a supporter of President Olusegun Obasanjo under the umbrella of Democratic Party (PDP). Dangote has said,
“I can remember when I was in primary school, I would go and buy cartons of sweets [candy] and I would start selling them just to make money. I was so interested in business, even at that time.”
With an estimated current net worth of around US$ 13.8 billion, he was ranked by Forbes as one of the richest Nigerian citizens and richest person of African descent in the world toppling Mohammed Al Amoudi ($12.3 billion) and Oprah Winfrey ($2.7 billion.) .
Aliko Dangote first ventured into business in 1977 at the age of 21 years. He started with a small capital given to him by his grandfather, Alhaji Sanusi Dantata. He was involved in trading in local commodities and building materials. Later that year, he relocated to Lagos to expand the company and started dealing in cement and other commodities. After some years the business began to experience tremendous success and increase. This encouraged him to incorporate two companies in 1981. He used the little money he collected from his grandfather to establish a business and today he is the richest man in Africa.
Aliko Dangote was given a sum of five hundred thousand naira loan by his grandfather to pay back in the nearest future . He Could have easily used the money to chase other things that he crave for like fancy cars or houses but he thought it wise to start up a business with the money. As at that time a Mercedes Benz car was sold for N5,000 while a Volkswagen Beetle went for N900 to N1,000 but he didn’t get carried away with those worldly things instead he invested the money on something that would benefit him in the futures and here he is harvesting the fruit of his labour. After starting up the business, he was able to pay back the loan in six months, as against the originally thought three or four years paybeck time.
Establishing Businesses in Nigeria
He established The Dangote Group in 1977 as a small trading firm . After gaining some experience in the business for some months, he decided to relocated to Lagos to expand the company the same year. The Dangote Group is a multi-trillion naira conglomerate with many of its operations in other countries like Benin, Ghana, Nigeria, and Togo. Dangote Group is a company that has expanded to cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country’s soft drink companies, breweries, and confectioners. The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
In July 2012, a piece of land at the Apapa Port abandoned by the Nigerian Ports Authorities was leased out to him after he approached them concerning the land. His request was approves and he went on to built facilities for his flour company there. In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal that was also approved.
Dangote has diversified into oil and telecommunications . In the aspect of telecommunications, Dangote company has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. Following this development, Dangote was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry. According to the Nigerian billionaire, he emphasized on investing in Nigeria and discourage the idea of investing in another country as it is not helping the country’s development.
He has said, “Let me tell you this and I want to really emphasize 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.”
Other Activities He Involved Himself
According to a reliable source, Dangote was behind the funding of Olusegun Obasanjo’s re-election bid in 2003, he gave over N200 million (US$1M) . He contributed N50 million (US$0.25M) to the National Mosque under the aegis of “Friends of Obasanjo and Atiku”. He also contributed N200 million to the Presidential Library.
On 23 May 2010, in made his intention known on buying a 16 per cent stake in Premiership side Arsenal belonging to Lady Nina Bracewell-Smith. Dangote hasn’t buy the club till date but said he will buy it when the time is right . Speaking on this news, he said the bid on buying is club is still ongoing but the price is not right for now. He also assure fans that he will acquire the club as soon as possible and his first action after buying it will be sacking the club’s long-standing manager Arsenel Wenger.
On 14 November 2011, Dangote was awarded Nigeria’s second highest honour, the Grand Commander of the Order of the Niger (GCON) by the President, Goodluck .In 2014, the Nigerian government said Dangote had donated 150 million Naira (US$750,000) to halt the spread of ebola.
Dangote has managed to acquire his staggering net worth of $16.1 billion in a nation where the average citizen lives on less than $1 a day. Aliko Mohammad Dangote doesn’t trade in oil and has never been in government, he is regarded as one of those responsible Nigerians that stood the test of time to become what they are today without any form of cheating or embezzlement. Today, Dangote is the largest employer of labor in Nigeria and West Africa, and is the second largest employer in the African continent.
His company , Dangote Group is into manufacturing of many products like noodles, macaroni, spaghetti, cement, sugar, milk and pasteurized milk, tomato paste, fruit juice, flour, bread, rice, and the essential daily food needs of nearly 600 million Africans. Dangote Group is also into the exportation of cocoa, Ginger, cashew nut, cotton, sesame seed to many Nations around the Globe.
The Dangote Group has firmly spread it wings across other countries as they now operates in several African Countries such as Togo, Cameroon, Benin Republic, Ghana, Zambia, South Africa while their Headquarters is based in Nigeria. He started his business in Africa and has made billions in Africa and became the richest black person alive.
Aliko Dangote Net Worth 2017
Dangote is ranked by Forbes magazine as the 67th richest person in the world and the richest in Africa; he peaked on the list as the 23rd richest person in the world in 2014. He has defeated Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world’s richest person in African .
Aliko Dangote Awards
1. Alhaji Dangote was conferred Honorary Citizenship of Arkansas State by Governor Mike Beebe . He and six other prominent Nigerians were honoured and they are;
- Chief Ms. Temitope Ajayi, Governor Rabiu Kwankwaso of Kano State,
- Dr. Akinwunmi Adesina, Minister of Agriculture and Rural Development;
- Prof. Tajudeen Gbadamosi, a former lecturer of University of Lagos
- Prof. Ade Adefuye, the Nigeria’s Ambassador to the United States
- Prof. Julius Okojie, the Executive Secretary of the National Universities Commission
2. Dangote was named as the Forbes Africa Person of the Year 2014.
Aliko Dangote Wife And Children
Aliko Dangote has been married at least three times already. His first and second marriage hit the rock before he married his current wife, her identity is not clear at this time but rumor has it that her name to Sylvia Nduka AD, where AD means Aliko Dangote. His first marriage was in 1977 when he was 20 years old and the marriage was arranged for him. After breaking up with his first wife, he later fell in love with Nafisat Yar’adua the daughter of the late President, Umaru Musa Yar’adua GCFR. She declined his marriage proposal because she was friends with Dangote’s daughter.
In subsequent years, he married Mariya A D Muhammad Rufai, daughter of The Commissioner for Women Affairs and Human Services in Buchi state . The marriage didn’t last long .
Dangote daughters are three in number and they are Mariya Dangote, Fatima Dangote and Halima Dangote.