Dangote Is Now The 62nd richest Man in the World

The President and Chief Executive Officer of Dangote Group of Companies, Mr. Aliko Dangote has been rated  the 62nd richest man in the world with a net worth of $13.5 billion.

According to a report by Bloomberg tagged, ‘The World’s 200 Richest People,’ Dangote is said to be richer than Mark Zuckerberg, founder of Facebook, Rupert Murdoch, CEO and founder of News Corporation, Giorgio Armani, founder of Armani designs who were stated as having net worths of $10.7 billion, $10.4 billion and $7.8 billion respectively.



Alhaji  Dangote, MFR, GCON, born 10th April 1957 in  Kano, Nigeria, is a self-made business magnate of the Dangote Group, with an estimated net worth of $13.5 billion.

Dangote had an early interest in business: “I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time.” he said during an interview.

He attended the Al Azhar University in Cairo, Egypt where he studied business,and later returned to Nigeria to work with his uncle Sanusi Abdulkadir Dantata who eventually gave him a business loan of N500,000 when he was just 21 years old.

The Dangote Group, originally a small trading firm founded in 1977, is now a multi-trillion naira conglomerate with operations in Benin, Ghana, Nigeria, and Togo.

Dangote’s businesses include food processing, cement manufacturing, and freight. The Dangote Group dominates the sugar market in Nigeria: it is the major sugar supplier to the country’s soft drink companies, breweries, and confectioners.

Dangote Group has moved from being a trading company to Nigeria’s largest industrial group including: Dangote Sugar Refinery,, Dangote Cement, and Dangote Flour amongst others.

Today, Dangote Group dominates the sugar market in Nigeria and Dangote Sugar Refinery is the main supplier (70 per cent of the market) to the country’s soft drinks companies, breweries and confectioners.

It is the largest refinery in Africa and the third largest in the world producing 800,000 tonnes of sugar annually. Dangote Group also owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertilizer. The company also exports cotton, cashew nuts, cocoa, sesame seed and ginger to several countries.

Dangote Group also has major investments in real estate, banking, transport, textiles and oil and gas. It employs over 11,000 people and is the largest industrial conglomerate in West Africa.