Skip to main content

Aliko Dangote

Created by BlackEntrepreneurProfile.com
Aliko Dangote

Born: April 10, 1957, Kano, Kano State, Nigeria;

Occupation: Businessperson;

Position: Chairman, President;

Company: The Dangote Group;

Industry: Manufacturing;

Residence: Nigeria;

Nationality: Nigerian;

Net worth (2022/11/26): USD 16.0 Billion;

Aliko Dangote, is Nigeria's first billionaire and richest black person in the world, with an estimated net worth of $16 billion (2022/11/26). Forbes list his net worth at $12.9 billion and Bloomberg list it at  $19.1 billion (as of 2022/11/26), we use the average of the two to estimate his net worth.

Mr. Dangote is the founder of the Dangote Industries, which has operations in Nigeria and several other countries in West Africa. Dangote Cement is Africa’s largest cement manufacturer, with over 26,000 employees in Nigeria. The company was ranked by Forbes as 1220th largest public company in the world based on revenues of $2.5 billion (2015).

The company is constructing cement plants in Ethiopia, Zambia, South Africa, Senegal, Cameroon, the Republic of Congo, and several other African countries. He announced plans last fall to construct plants in Iraq and Burma.

Mr. Dangote plans to sell a 20 percent interest in his cement business on the London Stock Exchange by the end of 2014, pricing it at a value of $35 billion to $40 billion. If he succeeds, his company will be the world’s most valuable cement producer.

Mr. Dangote began his career as trader at age 21 with a loan from his uncle; He went on to built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, haulage and oil and gas.

The Dangote Group dominates the sugar market in Nigeria, as he is the major sugar supplier to the country's soft drink companies, breweries, and confectioners. The Nigerian sugar refinery, located at the port of Lagos, is the second-largest in the world.

Dangote Group has moved from being a trading company to Nigeria's largest Industrial group, including Dangote Sugar Refinery (the most capitalized company on the Nigeria Stock Exchange, valued at over $3 billion with Aliko Dangote's equity topping $2 billion), Africa's largest Cement Production Plant: Obajana Cement, Dangote Flour amongst others.

Mr. Dangote plans to build a $8 billion oil refinery facility that would process 450,000 barrels per day of petroleum mainly for domestic consumption. Despite being one of the world’s top oil producers, Nigeria does not refine its own oil.

Mr. Dangote holds a business degree from Egypt’s Al-Azhar University in 1977.

Recently Added Black Executives

  • Tyler Scriven

    Created by BlackEntrepreneurProfile.com

    Tyler Scriven is the Co-Founder & Chief Executive Officer of Saltbox, Inc., a logistics pioneer since April 2019. The company offers adaptable office…

  • Ebony Beckwith

    Created by BlackEntrepreneurProfile.com

    Ebony Beckwith is Salesforce’s Chief Business Officer and Chief of Staff to Marc Benioff. In this role, Ms. Beckwith is responsible for aligning the…

  • Angela Benton

    Created by BlackEntrepreneurProfile.com

    Angela Benton is the Chief Executive Officer of Streamlytics, a data analytics company. She previously co-founded NewME Inc., a venture capital…

Latest News & Articles

FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra.

We also a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.

Learn more...