What is Aliko Dangote Net Worth 2023

What is Aliko Dangote Net Worth 2023?

Aliko Dangote is a Nigerian businessman who has an internet well worth $21 billion. Aliko Dangote has for instance been the richest man or woman in Africa. He is presently the richest individual in Nigeria, by far. He earned his internet well worth with the aid of founding The Dangote Group, which now controls a lot of Nigeria's commodities.

Early Life

Alhaji Aliko Dangote was once born on April 10, 1957, in Kano, Nigeria. His dad and mom are Mohammed Dangote and Mariya Sanusi Dantata. He is an ethnic Hausa Muslim and is from an outstanding and rich Muslim family. His great-grandfather is Alhaji Alhassan Dantata, who was once the richest West African at the time of his demise in 1955. Sanusi Dantata, his maternal grandfather, founded the company Sanusi Dantata and Sons Limited and served as the former director of Shell B.P.'s Nigerian division.

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As a child, Dangote confirmed symptoms of his innate entrepreneurial spirit when he launched a commercial enterprise shopping for sweets in bulk to promote to his fundamental college classmates for a hefty profit. Before enrolling in and completing his studies at the Government College in Birnin Kudu, he attended the Capital High School in Kano as well as the Sheikh Ali Kumasi Madrasa in that city. He attended Al-Azhar University in Egypt the place he earned a diploma in business. After graduating from university in the early 1970s, the 21 yr historical Dangote back to Nigeria. Upon his return, an effective uncle secured him a particularly beneficial authorities contract to manufacture cement plus a $5000 mortgage to launch a small business. Having spent time in Brazil and witnessing that country's upward jostle to an industrial superpower, he used to be stimulated to are seeking for identical possibilities in Nigeria.

Career

The Dangote Group was established by Dangote in 1977, and throughout the last 35 years, the business has expanded very quickly. In 2013, The Dangote Group earned simply under $21 billion in revenue. It is the biggest industrial conglomerate in West Africa and employs greater than 11,000 people.

It at the beginning started out as a small buying and selling association headquartered in Lagos, Nigeria, however now has operations all over Africa, such as in international locations like Benin, Ghana, Zambia, and Togo. Its areas of operation consist of meal processing, cement manufacturing, freight, sugar refinement, etc. Far from its humble origins, the Group certainly consists of more than one organization and subsidiaries, along with Dangote Sugar Refinery, Dangote Cement, and Dangote Flour, to title a few.

They are really the fundamental participant in the Nigerian sugar market, and are the dealer for most of the country's tender drink companies, breweries, and confectioners; the Dangote Group makes up about 70 percent of the market. Across the whole continent of Africa, the Dangote Group functions as the biggest sugar refinery and the 0.33 greatest in the world. They can produce 800,000 heaps of sugar per year. In addition to sugar, the Dangote Group additionally owns salt factories and flour mills. They additionally are a primary importer of rice, fish, pasta, cement, and fertilizer into Nigeria. On the different hand, they export merchandise like cotton, cashew nuts, sesame seeds, and cocoa. Their different investments are in areas consisting of actual estate, banking, transport, textiles, oil and gas, and telecommunications. Dangote Cement, which is said to manufacture 44 million metric tons of cement annually, is said to provide for almost 80% of the conglomerate's revenue.

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Other Work and Philanthropy

Dangote has been an outstanding donor in Nigerian politics. He helped fund Olusegun Obasanjo's re-election marketing campaign in 2003, giving over N200 million (US $2 million) to the effort. Other politics-related donations he has made, uniquely associated with individuals of the ruling PDP party, consist of an N50 million (US $500,000) contribution to the National Mosque with the backing of "Friend of Obasanjo and Atiku". These donations have been tremendously controversial, sparking issues over corruption and authorities members of the family with personal enterprise leaders.

Dangote has additionally been fantastically worried in many philanthropic efforts. He has been an essential contributor to public fitness problems and campaigns; he donated N150 million (US $75,000) to fight the unfolding of ebola in 2014, and N200 million in March 2020 to fight the unfolding of the Covid-19 coronavirus in Nigeria. He has additionally collaborated with the Bill and Melinda Gates Foundation to goal polio, amongst different issues, and is on the Clinton Health Access Initiative's Board of Directors. He is a board member of the Corporate Council on Africa, as properly as a member of the Global Education First Initiative's steerage committee, which is an initiative under the United Nations Secretary-General. Additionally, he hooked up his personal Aliko Dangote Foundation in March 2014, which focuses on problems of health, education, and monetary empowerment.

Personal Life

Dangote lives in Lagos. He has experienced two marriages as well as two divorces. He has three daughters from his marriages, inclusive of Halima Aliko Dangote, as nicely as one adopted son.