Aliko Dangote is a famous Nigerian businessman whose net worth is 21 Billion USD. As of writing this article, he is the richest man in Nigeria and the Continent of Africa. Aliko is among the top 100 richest and most influential individuals worldwide.
He became famous after founding The Dangote Group, the biggest business group in Nigeria. The Company controls most Nigerian products, improving its net worth status. In addition, he’s actively involved in other income-generating businesses.
This article will discuss key takeaways from Aliko’s Career, net worth, business life, and car collection, among other details. Therefore, to get a gist understanding of who Aliko Dangote is, make sure you read the article until the end.
Aliko Dangote’s Net Worth
The Nigerian businessman has always topped the Forbes list regarding net worth ranking. Aliko’s net worth is estimated to be around 21 Billion USD. He owns several businesses in other parts of the World.
Below is the distribution table showing Aliko’s net worth in the past five years.
| Year | Net Worth |
| 2023 | 21 Billion USD |
| 2022 | 17.8 Billion USD |
| 2021 | 12.1 Billion USD |
| 2020 | 9 Billion USD |
| 2019 | 4.5 Billion USD |
Aliko Dangote Net Worth Graph
Early Life
Aliko Dangote was born in Kano, Nigeria, on April 10, 1957. He was born to Mohammed Dangote, his father, and Mariya Sanusi, his mother. His mother was the daughter of Sanusi Dantata (a businessman), whereas his father was a business associate of Dantata Sanusi.
Aliko is the grandson of Alhaji Alhassan Dantata, the richest African Western in the 1950s. On the maternal side, his grandfather was the former director of Shell B.P and the founder Of Sanusi Company. Therefore, Dangote came from a wealthy background.
He attended the Sheikh Ali Kumasi Madrasa for his early education and later went to Capital High School in Kano. In 1978, he graduated from the Government College, Birnin Kudu. Later, he enrolled in Al-Azhar University, Cairo, where he graduated with a bachelor’s degree in business studies and Administration.
After graduating, he returned to Nigeria. His uncle introduced him to the business world, where he secured a lucrative deal with the Government. In addition, he rendered him $50,000 to launch a small business.
Career Life
Aliko’s career set off while he was a teenager. While in university, he studied a business-related course, Business Studies, and Administration. After graduating, he returned to Nigeria. He received $50,000 from his uncle to start a small business.
In 1981, he founded the Dangote Group. Initially, The Dangote Group was a small trading firm, and the for the past years, the Company has been one of the largest companies in Nigeria and Africa.
The Company mainly deals with sugar, flour, and cement processing. The Company has transited from being a small trading firm to a large industrial Group. Today, the Dangote Group has several branches in different parts of Africa, such as Togo, Benin, and Zambia.
In the 1980s and 1990s, he specialized in trading fish, flour, milk, iron, and sugar. Later in 1996, he traveled to Brazil to study more about manufacturing. While in Brazil, he witnessed numerous business gaps and was inspired to focus on those gaps in Nigeria.
In 2012, he leased a piece of land next to Apapa Port. He used the land to build facilities that would home his Sugar Company. The Company produces more than 800,000 tonnes of sugar in a typical year. Today, his sugar refinery is the largest in Africa and third in the World.
In 2022, Dangote launched the Peugeot assembling facility in Nigeria. He partnered with the Stellantis Group, the Kano, and the Kaduna State government to develop the assembling facility. The assembling Company is located in Kaduna.
Personal Life
Aliko Dangote resides in Lagos, Nigeria. He has two wives, and his current marital status is divorced. From his previous marriages, Dangote has three daughters and one son. His brother, Sani Dangote, died of cancer in 2021.
Dangote is one of the most simple and amazing billionaires of all time. He starts his days at 5 am and goes to the gym more than 6 times weekly. He works more than 12 hours daily, which explains his huge net worth.
The Dangote Group
Aliko Dangote is widely known for his Dangote group, which he founded in 1981. He started the Group with $50,000, which he had received from his uncle as a loan. The Group has played a huge role in his net worth and popularized his name worldwide.
The Company started as a small trading firm that focused on fast goods foods like fish and flour, among others. Later, he landed a lucrative deal with the Government. During this time, he had an opportunity to visit different parts of the World to learn more about industrialization.
The Company grew from a trading company to a large industrial group. Later, the Group had other subsidiaries like the Dangote Flour, Dangote Sugar Refinery, and Dangote Cement. For a few years, the Company has dominated the Nigerian market.
The Dangote Sugar Company is the leading sugar producer in Nigeria. The Company produces more than 800,000 of sugar annually, consumed locally and globally. The Group also owns Flour Mills and Salt companies.
The Group is the major importer of products like cement, rice, and fertilizers in Nigeria. Thus, it makes up more the seventy percent of the Nigerian market and its environs. On the other side, the company exports cotton, cocoa, and cashew nuts.
Sources of Income
Aliko Dangote has numerous sources of Income. In 2017, he was named the first Nigerian billionaire. His wealth has continually shot up since then. With a net worth of 21 Billion USD, we can be sure that Dangote is not a one-business man.
The Dangote Group has been his main source of wealth for years. Since its creation in 1981, the Group has garnered more than $50 billion in profit in sales. The Group has earned numerous lucrative deals, which are sources of Income.
Besides Dangote Group, Aliko controls and manages other minor companies under the Dangote Group. He is the founder of the Dangote Cement, Sugar Refinery, and the Dangote Flour. These companies have dominated the Nigerian market and can yield more than $2 billion annually.
In addition, Dangote owns other investments and businesses that are not tied to the Dangote Group. These businesses have had a positive impact on his career. Therefore, his annual earnings are estimated to be around $5 billion, whereas his monthly Income can go up to $650 million.
Let us summarize Aliko’s sources of Income
- Dangote Cement – $15 billion annually
- Dangote Flour – $240 million annually
- Sugar Refinery – $2 billion annually
Philanthropic Works
Dangote is philanthropic. He’s a significant donor in the Nigerian economy and politics. In 2003, Aliko funded Olusegun Obasanjo’s campaigns. He gave the politician more than $2 million during the re-election campaign.
In 2014, Dangote played a huge role in the public sector during the Ebola Outbreak. He donated more than $75,000 to curb the spread of Ebola. He made a $500,000 contribution to the National Mosque.
In 2016, Dangote supported the victims of the Boko Haram war. He pledges more than $10 million. Later in 2019, he contributed $500,000 to combat the spread of the Covid-19 pandemic. In addition, he partnered with Bill and Melinda Gates Foundation to combat the effects of polio, among other diseases.
He’s a member of the Corporate Council on Africa and a member of the United Nations Secretary-General’s Global Education First initiative. In addition, he was a co-founder of the US-Africa Business Center.
In 2017, Aliko joined the Clinton Health Access Initiative, where he’s on the board of directors. Aliko is also a member of the One Campaign board. In 2022, Aliko was appointed as the chairman of the Nigeria End Malaria Council.
Achievements and Awards
In the business world, Dangote’s name isn’t new. He has won several awards and notable achievements. Dangote’s Cement Company makes up more than 85% of the conglomerate’s revenue in the manufacturing sector. The Company produces more than 56 tonnes of cement used locally and globally.
Secondly, he owns the largest Sugar Refinery in Nigeria. The Company produces more than 800,000 of sugar annually.
Besides achievements, Dangote’s name has appeared in several awarding schemes. Some of the awards won by Aliko include:
- Nigeria’s Second-Highest Honor by former president Goodluck Jonathan.
- Africa Person of the Year by Forbes in 2014
- Most Powerful Man in Africa, in 2014, 2015, 2016, 2017, and 2018.
- 100 most influential people in the World in 2014.
- 50 most influential people in the World in 2015
- The Guardian Man of The Year in 2015
- African Business Leader Award in 2016
Aliko Dangote Car Collection
Dangote is fond of purchasing the latest and high-class cars. With his net worth in billions, there’s no model of car he can’t purchase.
Let us look at Aliko’s car collection:
Aliko Dangote Private Jet
Billionaires acquire private jets for personal use, and Aliko is no exception. By only looking at his net worth, we are not surprised to hear he owns a jet. The Nigerian bought his first jet when he was turning 53 years old. The jet cost him $45 million.
Aliko Dangote Yacht
Besides luxurious cars and jets, the African’s richest man owns a private yacht. The yacht can accommodate more than 50 people at a time. In addition, the yacht has other luxurious features that make it cost more than $43 million.
Real Estate and Homes
Aliko Dangote is a successful investor and has several properties and homes. He owns several houses and properties in different parts of the World.
However, Aliko is private; he doesn’t like flaunting his assets. He currently resides in Abuja Mansion, which is worth over $30 million. The stately mansion has classic and luxurious features. It is believed that he has lived there for more than 11 years now.
Aliko owns another Federal Capital Territory mansion worth $14 million. In 2012, he leased a piece of land next to Apapa Port. He used the land to build facilities that would home his Sugar Company.
Let us summarize some of the properties owned by Aliko Dangote:
Summary of Aliko Dangote Net Worth and Biography
| Date of Birth | April 10, 1957 |
| Age | 21 Billion USD years |
| Gender | Male |
| Net worth | 21 Billion USD |
| Height | 1.67 m |
| Weight | 69 kgs |
| Profession | Businessman, Investor, and Philanthropist |
| Nationality | Nigerian |
| Birth Place | Kano, Nigeria |
| Relationship Status | 21 Billion USD |
| No of Children | 1.67 m |
| Hair Color | Black |
| Eye Color | Black |
| Religion | Muslim |
| Zodiac sign | Aries |
Frequently Asked Questions
1. What is the net worth of Aliko Dangote?
Unquestionably, Dangote’s net worth is in the billions. His net worth is 21 Billion USD. As of writing this article, he is the richest man in Nigeria and the Continent of Africa.
2. How old is Aliko Dangote?
Aliko Dangote is 65 years. He was born in Kano, Nigeria, on April 10, 1957. He was born to Mohammed Dangote, his father, and Mariya Sanusi, his mother.
3. Who is the President of The Dangote Group?
Aliko Dangote is the founder and president of The Dangote Group. The Company started The Group in 1987 as a small trading firm focused on fast foods like fish and flour, among others. Later, he landed a lucrative deal with the Government. During this time, he visited different parts of the World to learn more about industrialization.
Conclusion
Aliko Dangote is a businessman who became the first billionaire in Nigeria in 2017. His net worth is 21 Billion USD, making him the richest man in Nigeria and the Continent of Africa. He runs notable companies such as The Dangote Group, among others.