What is Aliko Dangote Net Worth in August 2022
Aliko Dangote GCON is a Nigerian billionaire business magnate, founder and current chairman and CEO of the Dangote Group with a net worth of around $21 billion USD as of August 2022.
Profile About Dangote
$21 billion USD
|Date Of Birth||10 April 1957|
|Age||65 years old (2022)|
|Source Of Wealth||Business|
|Years Active||1977 – present|
|Known As:||Founder and CEO, Dangote Group|
Aliko Dangote GCON (born 10 April 1957) is a Nigerian billionaire business magnate.
Dangote is the founder and current chairman and CEO of the Dangote Group, the largest industrial conglomerate in West Africa. Dangote is the wealthiest person in Africa, with an estimated net worth of US$21 billion according to the Bloomberg Billionaires Index as of May 2022.
Dangote Biography and Early Life
Aliko Dangote GCON is a Nigerian billionaire business magnate born on 10 April 1957.
Dangote was born in Kano, Kano State into a wealthy Hausa Muslim family. Dangote’s mother, Mariya Sanusi Dantata, was the daughter of businessman Sanusi Dantata.
Aliko Dangote’s father, Mohammed Dangote, was a business associate of Sanusi Dantata.
Through his mother, Dangote is the great-grandson of Alhassan Dantata, the richest West African at his death in 1955.
Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by Kano’s Capital High School.
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.
The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.
Dangote received a $500,000 loan from his uncle to begin trading in commodities including bagged cement as well as agricultural goods like rice and sugar.
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.
Today, the Dangote Group is one of the largest conglomerates in Africa, with international operations in Benin, Ghana, Zambia and Togo.
The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria, encompassing divisions like Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
Dangote Group dominates the sugar market in Nigeria, with its refinery business being the main supplier (70 per cent of the market) to the country’s soft drink companies, breweries and confectioners. The company employs more than 11,000 people in West Africa.
In July 2012, Dangote approached the Nigerian Ports Authority to lease an abandoned piece of land at the Apapa Port, which was approved.
He later built facilities for his flour company there. It is the largest refinery in Africa and the third largest globally, producing 800,000 tonnes of sugar annually.
The Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement, and fertiliser. The company exports cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries.
Additionally, it has major investments in real estate, banking, transport, textiles, oil, and gas.
In February 2022, Dangote announced the completion of the Peugeot assembling facility in Nigeria following his partnership with Stellantis Group, the parent company of Peugeot, and the Kano and Kaduna state government.
The new automobile company, Dangote Peugeot Automobiles Nigeria Limited (DPAN) factory which is based in Kaduna commenced operations with the roll-out of Peugeot 301, Peugeot 5008, 3008, 508 and Land Trek.”
Dangote at the World Economic Forum in 2011
Dangote became Nigeria’s first billionaire in 2007.
Dangote reportedly added $9.2 billion to his personal wealth in 2013, according to the Bloomberg Billionaires Index, making him the thirtieth-richest person in the world at the time, and the richest person in Africa.
In 2015, the HSBC leaks revealed that Dangote was an HSBC client and that he had assets in a tax haven in the British Virgin Islands.
As of April 2022, Dangote is the wealthiest person in Africa, with an estimated net worth of US$24 billion.
Dangote Awards and memberships
Awards and recognition
- Dangote was awarded Nigeria’s second-highest honour, the Grand Commander of the Order of the Niger (GCON) by the former president, Goodluck Jonathan.
- Dangote was named the Forbes Africa Person of the Year in 2014.
- For six consecutive years, 2013, 2014, 2015, 2016, 2017, and 2018 Forbes listed him as the “Most Powerful Man in Africa”.
- In 2014, he was listed on CNBC’s “Top 25 Businessmen in the World” who changed and shaped the century.
- In April 2014, Time magazine listed him among its 100 most influential people in the world.
- In October 2015, Dangote was listed among the “50 Most Influential Individuals in the World” by Bloomberg Markets.
- He won “The Guardian Man of the Year 2015”.
- He won the “2016 African Business Leader Award”, organized by the Africa-America Institute (AAI).
- Dangote was cited as one of the top 100 most influential Africans by New African magazine in 2015, 2017, 2018 and 2019.
Dangote Net Worth In Naira August 2022
Aliko Dangote known shortly as Dangote is a Nigerian billionaire business magnate with a Net Worth Of $21 billion dollars which is N9.9 trillion (N9,966,238,614,368) in Naira (Nigerian Currency) as of August 2022.
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