Birthday: Aliko Dangote Turns 66 Today!
Aliko Dangote (Listen) GCON (born 10 April 1957) is a Nigerian business magnate who is the founder, chairman, and CEO of the Dangote Group, the largest industrial conglomerate in West Africa. According to Bloomberg Billionaires Index, Dangote’s net worth is estimated at US$19.9 billion as of April 2023, making him the richest person in Africa and richest black person and 83rd in the world.
Early life
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 the time of his death in 1955.
Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by 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.
Business career
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 be 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 is the main supplier (70 percent 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 sugar company there. It is the largest refinery in Africa and the third largest in the world, 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 Peugeot assembling facility in Nigeria following his partnership with Stellantis Group, the parent company of Peugeot, 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.”
Wealth
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 a HSBC client and that he had assets in a tax haven in the British Virgin Islands. As of June 2022, Dangote is the wealthiest person in Africa, with an estimated net worth of US$20 billion.
Personal life
Dangote lives in Lagos, Nigeria. He has been married and divorced twice. He has three daughters – Mariya, Halima, Fatimah and an adopted son, Abdulrahman. Aliko’s brother, Sani Dangote, died on 14 November 2021 from colon cancer.
Dangote is known for his simple and austere lifestyle; he reportedly works 12 hours a day beginning at 5am and goes to the gym six times a week.
Aliko Dangote Celebrates His 66th Birthday Today – Business – Nigeria (nairaland.com)