Aliko Dangote Biography And Net Worth in 2021
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This article reveals Aliko Dangote net worth in 2021. Read on!
Who Is Aliko Dangote?
Aliko Dangote is a Nigerian businessman. He is the wealthiest person in Africa, with lots of businesses to his name.
His Biography
Aliko Dangote, an ethnic Hausa from Kano State, Nigeria.
He was born on the 10th of April 1957 (Age 64) into a wealthy Muslim family of the Nigerian bourgeoisie, the son of Mohammed Dangote and Mariya Sanusi Dantata, the daughter of Sanusi Dantata.
He is the great-grandson of Alhassan Dantata, the richest West African at the time of his death in 1955.
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His Education
Dangote was educated at the Sheikh Ali Kumasi Madrasa, after which he attended Capital High School, Kano.
In 1978, he graduated from the Government College, Birnin Kudu.
He received a bachelor’s degree in business studies and administration from Al-Azhar University, Cairo which is considered one of Islam’s most prestigious universities.
His Business Carreer
The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.
At the age of 21, Dangote borrowed $3,000 from his uncle to import and sell agricultural commodities in Nigeria, his country of Irigin.
His business venture quickly became a success, and as a result, he managed to repay the entire loan within three months of starting operations.
In 1997, Dangote realized that acting as a middleman was a very costly endeavor, so he built a plant to produce what he had been importing and selling for the previous 20 years, which includes; pasta, sugar, salt, and flour.
Around the same time, Dangote was awarded a state-owned cement company. Dangote significantly expanded the operations of the company in 2005 by constructing a multimillion-dollar manufacturing plant.
Dangote’s business interests encircle many industries, including oil and gas, consumer goods, and manufacturing.
However, Dangote Cement makes up the majority of the conglomerate’s revenue, of which Dangote owns 85%.
According to Forbes magazine, the subsidiary produces 45.6 million metric tons of cement every year and operates in 10 African countries.
Dangote also owns the world’s third-largest sugar refinery, and together, all of his publicly traded companies make up a quarter of the market capitalization of the Nigerian Stock Exchange.
Each of his manufacturing divisions has since been separated into publicly traded companies: Dangote Sugar Refinery PLC., National Salt Company of Nigeria PLC., Dangote Flour Mills PLC., and Dangote Cements PLC.
His Personal Life
Dangote lives in Lagos, Nigeria. He has been married and divorced twice. He has three daughters: Mariya, Halima and Fatimah, he has one adopted son Abdulrahman Fasasi.
He is also an avid enthusiast of Arsenal F.C. in England and has shown interest in buying it.
His Net Worth
Aliko Dangote is the wealthiest person in Africa, with an estimated net worth of US$11.1 billion as of May 2021.
In Conclusion
Dangote’s fortune is primarily built from his company, Dangote Cement, although he started his business empire by selling commodities such as sugar, salt, and flour.
While he grew up upper-class, Dangote was entrepreneurial from a young age and started his first business with a loan from his uncle.
Dangote has been the richest man in Africa for ten years in a row, with a net worth of almost $11.1 billion.
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