Dangote's success landed him firmly on America's radar. He is an established businessman with investments in key sectors of the economy including manufacturing, agriculture, banking, and oil services. Dangote Sugar started in 2000 and quickly expanded the annual production capacity of its refinery at Lagos' Apapa Port to 1.44 million tons, enough to satisfy 90% of national demand. It began with a single mill, tripled revenue to $270 million, increased capacity eightfold to 1.5 million tons--then joined Dangote Sugar on the NSE in 2008, the same year Dangote became the first Nigerian on FORBES' World's Billionaires list, at No. At the time Dangote's sugar and flour companies went public, raw sugar was taxed 12 times less than refined sugar, wheat 6 times less than flour. Dangote flatly denies this. He was the younger brother of the wealthiest person in Africa, Aliko Dangote and vice president of the family run Dangote Group. About 80% of the conglomerate's revenue reportedly comes from Dangote Cement, which is said to produce 44 million metric tons of cement annually. 2023 Forbes Media LLC. He holds the shares in the company directly and through his conglomerate, Dangote Industries. "Nigeria is one of the best-kept secrets," Dangote says. "Anyone doing business in Africa," says David Rubenstein, the cofounder of the Carlyle Group and a fellow billionaire, "knows Dangote.". Africa's richest person controls Dangote Industries, a closely held conglomerate. Dangote and these other Nigerians power Africa's largest economy. President of Dangote Group, Aliko Dangote, has emerged as the 72nd richest person in the world with an estimated net worth of $20.4 billion, according to the latest data on Bloomberg's billionaires' index. Nigeria consistently ranks in the bottom quarter of the most corrupt countries in the world, according to Transparency International, and is proving a feckless pursuer of the Boko Haram thugs terrorizing the northeast. As evidence, look no further than Dangote's No. All the trouble will be gone. He is a self-made business tycoon. Alhaji Sani also known as just Sani is the only brother and sibling of Aliko. He no doubt was a towering personality in Nigerias private sector. In 2018, Fatima Dangote tied the holy knot with the love of heart, Pilot Jamil Abubakar whose progeny is traced to the former Inspector General of Police, MD Abubakar. Graduates from Al-Azhar University in Cairo. His expertise as a boardroom guru earned him appointments into the boards of several companies, notable among which include Nigerian Textile Mills Plc, Nutra Sweet Limited, Gum Arabic Limited, Dangote Textile Mills Limited, Alsan Insurance Brokers, Dan-Hydro Company Limited, Dansa Food Processing Company Limited and Dangote Farms Limited. Aliko Dangotes third daughters name is Mariya. He's helped us." Dangote owns cars, including Maybach 57S Knight Luxury, a Bugatti Veyron, a Mercedes-Benz CL65 AMG, and a Bentley Mulsanne. Dangote Group, the West African conglomerate founded by Africa's richest man, Aliko Dangote, has signed a $650 million loan facility with the African Export-Import Bank (Afreximbank) to enable. The truth and accurate information about the biological parents to the legal heir to the richest black man on the continent wealth, are sparsely known. Subscribe our newsletter for latest world news. Abdulrahmans family details including that of his wife, children of his own, his educational qualifications, responsibilities in his fathers company, etc. We bring you daily editor picks from the best Business Insider news content so you can stay updated on the latest topics and conversations on the African market, leaders, careers and lifestyle. Aliko Dangote Chairman of Dangote Group of Companies. Personal life [ edit] Some rich kids love living a simple life while other rich heirs in the society love living large. Post-colonial instability, including countless coups and a civil war in the 1960s, was eclipsed by an oil boom in the 1970s. Subscribe. His mother's name is Mariya Aliko while his maternal grandfather is Sanusi Dantata. Upon his return, a powerful uncle secured him a highly lucrative government contract to manufacture cement plus a $5000 loan to launch a small business. It's been two years since Africa's richest man, Nigerian billionaire Alhaji Aliko Dangote, jetted into the country in a highly-publicised investment deal, but nothing has come to fruition. He currently serves as the Vice President of the Dangote Group and is involved with his brother in making their corporation a success. He is the founder and chairman of Dangote Group, an industrial conglomerate in Africa. His cars include; Bentleys Buggatis, Maybach, and Mercedes. 2023 Nigerian Observer All Right Reserved. Having known Sani for many years and developed a close bond with him and the Dangote family, the news is as devastating as it is numbing. House, Cars Like most rich people, Alhaji Aliko Dangote is very soft about his toys. The four Nigerian National Petroleum refineries are viewed as corrupt to the point of nonfunctioning. Three of Alikos daughters are publicly well known. All of which makes Dangote--well connected, wildly wealthy and ready to do business--an increasingly important player on the world stage. Golf course designer Pete Dye was renowned for his architectural skills, and he earned millions by creating some of the best golf courses in the world. He owns 85% of publicly-traded Dangote Cement through a holding company. Dangote executives promise the government has compensated the displaced natives well. 2017 Economic Confidential . He has also collaborated with the Bill and Melinda Gates Foundation to target polio, among other issues, and is on the Clinton Health Access Initiative's Board of Directors. Alhaji Sani Dangote is the Group Vice President and a co-founder of the Dangote Group of Industries with Alhaji Aliko Dangote. His parents are Mohammed Dangote and Mariya Sanusi Dantata. Overall U.S.-Nigerian trade was $9.8 billion last year. Everything You Should Know (2023). After he graduated from Egypts Al-Azhar University at the age of 21, Dangote moved down to Lagos for cement trading and other essential commodities trading in 1977. The majority of Dangote's fortune is derived from his 86% stake in publicly traded Dangote Cement. Some of those children have grown up and are even married. A practicing Muslim, Dangote goes by the title "Alhaji," an honorific granted to a man who has completed the pilgrimage to Mecca. His maternal grandparents raised him. Nigeria sells far less oil to America these days--it exported $2 billion of the black stuff last year as the U.S.' tenth-largest supplier--so most of that trade comes through other goods and services. The refinery, Dangote says, can be profitable even at $50 to $70 a barrel. By and large, Dangotes childrens names are Mariya Dangote, Halima Bello Dangote, Fatima Abubakar Dangote, and Abdulrahman Fasasi. What is Jeff Bezos' net worth? It's hard to imagine the government coming to grips with it all, even if oil prices recover. A thorough-bred businessman and pacesetting entrepreneur, Sani had a knack for excellence, which is evident in the chains of businesses he set up and managed, ranging from agriculture to manufacturing, banking and oil services. Ikenna Uwadileke. When not helping clients identify tax and financial opportunities, you can find him writing, sailing offshore, or flying a plane. "Ultimately all the decisions sit with the boss, Dangote, rather than the senior management," the executive says. You have to have a very strong local partner, and we were lucky enough to find Aliko. All Rights Reserved. He remains as simple, hardworking, humble, and cool-headed as he was in the very beginning. President Muhammadu Buhari, yesterday, sent a delegation to represent him in Kano at the burial of Alhaji Sani Dangote, younger brother of Africa's richest man, Aliko Dangote, who died on . The Four Richest Nigerian Billionaires Are Worth More Than $24 Billion, The Five Richest People In Nigeria Could Wipe Out All Of The Country's Extreme Poverty, The Richest Black Billionaires In The World Right Now. The index is a dynamic measure of personal wealth based on changes in markets, the economy and His cars include; Bentleys Buggatis, Maybach, and Mercedes. Dangote's father died when he was eight, leaving him to be raised by his maternal grandfather, who was a building materials trader. It's a goner, though, the future home of another Dangote empire. Full Name: Aliko Dangote Date Of Birth: April 10, 1957 Age: 66 Years Old Nationality: Nigerian Education: Government College, Birnin Kudu; Al-Azhar University Occupation: Industrialist, founder, and leader of Dangote Groups Started Since: 1977 Net Worth: $11.2 Billion Marital Status: Divorced Children: three daughters and an adopted son (4) "I would use it to buy sweets, and I would give them to some people to sell, and they would bring me the profit," Dangote says. Having spent time in Brazil and witnessing that country's rise to an industrial superpower, he was inspired to seek the same opportunities in Nigeria. The most famous of his three known daughters is Halima Dangote who is currently the Director of the Dangote Group and the Group Executive Director of the Sublime Group. Being the legal heir, one could easily tell apart from the other daughters that the name Abdulrahman bores shows that he is not Aliko Dangotes filial son. Prior to that, in May 2014, he dispatched Penny Pritzker to Nigeria, the first visit by a Commerce Secretary in two decades. Kalu, in a goodwill message, described the businessman as a shining light in Nigeria and beyond. In 2011, Alh. His first wife, Hajiya Zainab, gave birth to 2 daughters among those 15 children. Aliko Dangote, Africas richest man, has concluded plans to invest roughly $60 million in Togo in the construction of a cement manufacturing facility. He died on 14 November 2021 in the United States from colon cancer . In the shadow of rising Islamic militancy, which has destabilized the Middle East and now threatens to do the same to parts of Africa, President Obama recently issued an executive order tasking U.S. business executives with strengthening trade ties to sub-Saharan Africa (the council includes heavy hitters from Wal-Mart, G.E. Their low profile made their biography and information about them a little meager. 24 Airport Road, Benin City, Edo State, Nigeria. Aliko Dangote on Wednesday narrated how his younger brother Sani died in one of the best hospitals in Miami, the USA. Ahmed Wase have expressed sadness over the death of the Vice President of the Dangote Group, Alhaji Sani Dangote. If all goes according to plan, it'll produce 650,000 barrels a day--a variety of gas, diesel and jet fuel--and Dangote would basically walk away with a monopoly on refined oil in the country. While hes never been in the ring, this wrestling commentator has a hefty net worth that makes him one of the wealthiest peoplein the industry. One Sunday last month found Dangote on his yacht--christened Mariya after his mother--and then flying to Geneva on Monday to see his grandchildren. A lieutenant warns that Dangote will walk out of a meeting if it starts even a minute late. Introduction Dangote Group operate the largest sugar refinery, and the third largest in the world. . He has been a major contributor to public health issues and campaigns; he donated N150 million (US $75,000) to combat the spread of ebola in 2014, and N200 million in March 2020 to combat the spread of Covid-19 coronavirus in Nigeria. 2023 Celebrity Net Worth / All Rights Reserved. Fatima had her basic, secondary, and tertiary education in the United Kingdom. The Nigerian businessman has an impressive net worth of 13.9 billion USD, according to 2018 Forbes ranking. As of 2015, Aliko Dangote has a net worth of 16.6 billion USD. It also has interests in sugar, salt, oil, fertilizer and packaged food. But one will begin to wonder why all of them choose to keep such a low profile unlike other billionaire kids despite their fathers wealth. Alhaji Aliko Dangote is the largest employer of labor in the whole of Africa, his net worth was estimated to $15.3 billion making him the richest African and black in the world. are unknown. He is a board member of the Corporate Council on Africa, as well as a member of the Global Education First Initiative's steering committee, which is an initiative under the United Nations Secretary-General. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. As chairman of Dansa Holdings, Sani brought a new verve to the beverages sector of the economy, growing the business to become one of the most notable brands in the country. ___________________________________________________________________________________________________________________ The wedding ceremony attracts several top world dignitaries, such as the worlds richest man then Bill Gates, 5 current presidents within and outside the continent, past Nigerian presidents, etc. Africa's richest man Alhaji Aliko Dangote is the most successful businessman of the continent. 334. For Dangote, the upheaval has meant lower demand for his cement ("There are places in the north where no one is thinking of building a home," one Dangote executive says), and he cut cement prices twice last year, most recently by 14% in November. The drop in crude prices prompted the oil-rich country's stock index to plunge 40% last year, taking Dangote's net worth down in lockstep--no surprise, since his companies account for almost a third of the nation's benchmark index (his $10.3 billion drop in net worth was the world's largest last year). Far from its humble origins, the Group actually consists of multiple companies and subsidiaries, including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour, to name a few. He turned every business enterprise he touched into success stories. Later that year, Dangotes success story transcends Nigeria to its neighboring countries which include Benin Republic, Ghana, Cameroon, Tanzania, Togo, South Africa, and Zambia. Dangote threw a big celebration the day he signed the loan terms at the Hilton in Abuja. 67 rank on the World's Billionaires List and his $14.7 billion fortune--mostly from three majority stakes in publicly traded cement, sugar and flour companies. These sweets and candies were often bought by his parents for his personal enjoyment and pleasure which he converted into business. On behalf of the Government and the good people of Edo State, I extend deep-felt condolences to the Dangote family, as well as friends and associates, and pray that God will grant us all the fortitude to bear this painful loss. Oil now represents another big play for him, and he's busy building a refinery some 40 minutes by car outside central Lagos. . Let's stay updated! View Alhaji Dangote's business profile as Vice President at Dangote Cement. Feb 11, 2022. waepco.com . Other politics-related donations he has made, in particular related to members of the ruling PDP party, include a N50 million (US $500,000) contribution to the National Mosque with the backing of "Friend of Obasanjo and Atiku". Dangote is the richest African globally and an inspiration for the young minds who want to succeed as entrepreneurs. His maternal grandparents raised him. Unidentified gunmen have killed the country manager of Dangote Cement Ethiopia which is owned by Africa's richest man, Aliko Dangote. Keeping Nigeria successful is critical. On the other hand, they export products like cotton, cashew nuts, sesame seeds, and cocoa. Aliko Dangote is a business tycoon from Nigeria. Forbes estimates the net worth of Rabiu and Dangote at $3.2bn and $8.3bn respectively as of July 2020. Dangote took marital vows on two different occasions with two different women, before it all became history. According to his story, he sells sweets and candies during his primary age. He's simply too important to the economy. "We will carry a big knife and cut them on prices.". Under British rule, Sanusi Dantata, Dangote's grandfather, grew rich trading commodities like grain oats and rice, and ranked as one of Kano's wealthiest citizens. Information gathered revealed that Dangote had four children out of which three are females and one male. About half are illiterate; most are very young (the country's median age is 18.3). But wherever you find yourself in life, its advisable you live honorably. Among the personalities hosted at the Eko Hotels and Suites Lagos, on that day was Nigerias current president, General Muhamadu Buhari. Dangote is the richest African globally and an inspiration for the young minds who want to succeed as entrepreneurs. According to research, it was revealed that Halimah, like other daughters of the Africans Richest man, studied abroad. And she also doubles as the Board Chairman of Africa Centre in New York, United States of America. Located on Victoria Island, a wealthy Lagos enclave that has a moat in the form of a lagoon and the far eastern shores of the Atlantic Ocean, his mansion comes with all the trimmings: massive black gate, bulletproof windows, Big Brother video surveillance, guards and a secret entryway. You have entered an incorrect email address! Sani added that the demise also teaches the limitation of a mortal. In 1977, Dangote launched the Dangote Group, and over the last 35 years, the company has grown at an extraordinarily fast pace. Katarina Martinson Family, Family Tree, Roman Avdeev Life, Family, Business, Net Worth, David M. Overton Chief Executive Officer Of The Cheesecake Factory. Across the entire continent of Africa, the. Net Worth. The companies retain a vice-like grip on their industries today, controlling at least half of the cement and sugar markets and about 25% of flour. Mr Dangote was a businessman with more than 30 years' experience in manufacturing, agriculture and oil services. It makes you be much more aggressive--to think anything is possible.". In fact, this beautiful young chap was sometimes tagged as the secretive daughter of Aliko Dangote. This story appears in the March 22, 2015 issue of Forbes. Until the beginning of 2020, when the widespread Coronavirus woefully affected the Nigeria and global economy, he was among the top 100 richest men in the world. Nigeria's President Muhammadu Buhari, on Wednesday, sent a delegation to represent him in Kano at the burial of Alhaji Sani Dangote, younger brother of Africa's richest man, Aliko Dangote, who died on November 14 in the United States after a protracted illness. The average Dangote employee seems to virtually worship him. House, Cars Like most rich people, Alhaji Aliko Dangote is very soft about his toys. You have entered an incorrect email address! John Landis made millions as a director and actor in Hollywood, eventually becoming one of the wealthiest icons in the film world. He owns a fleet of the most luxurious cars existing in the world right now. America's foreign direct investment in Nigeria reached a continent-leading $8.2 billion in 2012, the last year for which statistics are available. His resolve was strengthened in 1999, when Nigeria held its first democratic presidential election in six years, choosing a bespectacled former military ruler and chicken farmer named Olusegun Obasanjo, whom Dangote had known since 1981. As of , John is a professional accountant with a passion for writing. Indeed, the State Department has come to see Dangote as completely inseparable from the Nigerian government. German racing driver Ralf Schumacher has earned millions as a Grand Prix champion in Formula One. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. Alhaji Sani also known as just "Sani" is the only brother and sibling of Aliko. Obaseki mourns Alhaji Sani Dangote. 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