How much is Aliko Dangote Net Worth presently – Alhaji Aliko Dangote, in 1977 founded the now multi-trillion conglomerate called Dangote Group. The Company was given birth to as a result of the passion of the man for business and interestingly, he was only twenty years of age as at that time. And since that time, he has in one way or the other contributed enormously to the economy of Nigeria. Dangote Group is a multinational company, as it has grown to operate in Nigeria and other parts of Africa including Senegal, Cameroon, Ghana, South Africa, Tanzania, Togo, etc.
Aliko Dangote Net Worth 2020 and Biography
- Full Name: Alhaji Aliko Dangote
- Date Of Birth: 10 April 1957
- Occupation: Business Man
- Aliko Dangote Net Worth: $9.6 Billion
- Marital Status: Married
- Country Of Origin: Nigeria
- State Of Origin: Kano
On the 10th of April 1957, Hajia Mariya Sanusi Dantata and Mohammed Dangote welcome the prodigal son, Alhaji Aliko Dangote into their family. The family is a Muslim-oriented one with a strict Islamic upbringing based in Kano State, Nigeria. It seems the urge to involve in business has always been in the family. This is because, at a very tender age, he has already developed a very strong passion to partake in politics and also his grandfather, Alhaji Alhassan Dantata was the richest African Alive before he died in the 1950s because he was also actively involved in the business.
Whenever Aliko Dangote is asked about how he found himself in business, he always replied that
“During my primary school, I would look for money to buy cartons of sweets and start selling it to people just for me to have some notes in my pocket. I was so passionate about involving myself in business even at that time”
From Al-Azhar University, Cairo, Egypt, Dangote got his Bachelor degree in Business Studies as this was his passion even from preliminary school. After graduation from the university in the early 1970s, he returned back to his Father’s country in order to venture into business. At first, he works under his uncle, Alhaji Sanusi Dantata, who later gave him a sum of five hundred thousand Naira as a loan to start business and payback in the nearest future. Alhaji Sanusi did that just because he saw the business spirit in the young man and decided to help him with a little finance.
With the money, Aliko Dangote started trading in local commodities and building materials until when he relocated to the business city, Lagos State later that year. He went to Lagos after noticing the rate at which business flows in the state.
Alhaji Aliko Dangote could have decided to use the money on other things that might not last him long but rather he sticks to the investment plan despite the ups and downs he experienced. And because of that small sacrifice, he built his future and that of his next generations to come. After six months, he returned back the loan back to his uncle, who was impressed because they actually decided on a three to four years’ payback time.
Business in Nigeria
Being a patriotic citizen, Aliko Dangote decided to invest in his country as that will bring us a stabilized economy. Later he relocated to Lagos, where he started up the Dangote Group that has interest in consumable commodities like flour, salt, fish, sugar, soft drinks, breweries, cocoa, Ginger, cashew nut, cotton, sesame seeds etc. However, he has also expanded to invest in non-consumable commodities like fertilizers, types of cement and other building materials. Initially, the Group was a small film but after relocating to Lagos, he used his gathered experienced to expand the scope of the company and today the company is now a multi-trillion conglomerate. The Group has grown so well from being a single company but to a collection of companies that include Dangote Sugar Refinery, Dangote Cement, and Dangote Flour. And I know in the nearest future, Alhaji will definitely increase the companies as he keeps succeeding day-in-day-out.
Apart from commodities whether consumable or non-consumable, The Dangote Group has also diversified into the aspect of Oil and Telecommunications. For the telecommunication aspect, Aliko Dangote has begun the project of building the fiber optic cables of 14,000 kilometers to service the whole of Nigeria.
In the 1990s, Dangote approached the Central bank of Nigeria with the proposal of managing the staff buses through his own transport company at a very cheap rate. This proposal was approved and they have built a strong relationship over the years. Also, six years ago, he took a bold step in the establishment of his flour company by approaching the Nigerian Port Authority for a land that has been abandoned by the authority for a long period of time. His proposal was approved and he commenced the building of the company instantly.
Aliko Dangote Net Worth 2020 – $9.6 Billion
For fans and readers asking how much is Dangote worth currently, According to Forbes, he is worth an estimated 9.6 billion US Dollars.
Dangote’s Life Without Business
Apart from venturing into business, Aliko Dangote has also over the years perform lots of activities outside the circle of business. These “outside business” activities are
- Reliable sources have it that Dangote was the behind the funding of the re-election of Chief Olusegun Obasanjo as the president of Nigeria as the man is like a mentor to him. Also, he has been financially supportive of People’s Democratic Party (PDP)
- Also, he donated a sum of 200 million naira to the development and equipment of the presidential library
- On the religious side, he donated 50 million naira for the completion of the construction of the mosque under the protection of “Friends of Atiku and Obasanjo).
- Even though he later denied it, he was accused to have pronounced his intention in buying a 16 percent stake in Premiership Side Arsenal belonging to Lady Nina Bracewell-Smith.
- In 2014, as a result of the massive economic development by Dangote Group and his patriotism, the ex-president Goodluck Ebele Jonathan honored him with the second highest honor in Nigeria, GCON standing for Grand Commander of Order of the Niger.
- In 2014, during the hot period of the outbreak of Ebola Virus, he was reported to have donated 150 million naira in order to tackle the outbreak.
- Later, he declared his interest in purchasing the English Football Team Arsenal, which was unsuccessful. Maybe because he promised to fire the long-lasting manager of the team, Arsene Wenger, after his purchase.
Because of his company’s employment provision capacity, he was ranked the largest employer of labor in Nigeria and West Africa, and the second largest employer in Africa. In January 2009, he was honored as the Leading Provider of Employment in the Nigerian Construction Industry. Whenever he is asked why he invested in Nigeria as most of the entrepreneurs do not see Nigeria as a better place to venture, he would reply by saying:
“Nothing will benefit Nigerians than for us to bring back their own money into our country. If you give me 5 billion dollars now, I will spend it all in investing in Nigeria. Let work together as one for a better Nigeria.”
Aliko Dangote has been honored several times with high personalities. One of the honoraries was the conferring of Honorary Citizenship of Arkansas State by Governor Mike Beebe and also in 2014, he was named as the Forbes Africa Person of the Year.
Dangote and His Family
For three times, Aliko Dangote has been married to three different women after which the third marriage stayed longer till now. The first marriage he had was in his twenties. He broke up the marriage because it was arranged for him. Later on, he fell in love with his daughter’s friend, Nafisat Yar’adua who is also the daughter of the late ex-president Musa Yar’adua. Nafisat later declined his proposal.
Later, he knotted the tie with the daughter of The Commissioner for Women Affairs and Human Services in Bauchi State. This marriage also did not last any longer before it broke up. The Third marriage was with Sylvia Nduka Aliko Dangote (AD) which seems to last long even till now, they are still in wedlock. Aliko Dangote has three female children namely, Mariya Dangote, Fatima Dangote, and Halima Dangote.
Aliko Dangote has shown the world that with minimal education, you can still reach where you suppose to reach. You just have to have the right determination and focus just like he did at a very young age.
That’s all about Aliko Dangote Net Worth 2020 and Biography.
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