What is Aliko Dangote’s net worth?

Net Worth:	$16 Billion
Age:	64
Born:	April 10, 1957
Country of Origin:	Nigeria
Source of Wealth:	Entrepreneur
Last Updated:	2021

Introduction 

Aliko Dangote is a Nigerian businessman and philanthropist.

He is the founder and chairman of Dangote Group, an industrial conglomerate in Africa. Dangote is one of the richest people in Africa.

He remains as simple, hardworking, humble, and cool-headed as he was in the very beginning. Dangote is the richest African globally and an inspiration for the young minds who want to succeed as entrepreneurs.

As of 2022, Aliko Dangote’s net worth is estimated to be $16 billion.

Early Life 

Alhaji Aliko Dangote was born on the 10th of April, 1957, in Kano, Nigeria. His maternal grandparents raised him.

His maternal ancestors were prosperous caravan traders under British colonial rule, and his grandfather, Alhaji Sanusi Dantata, a commodities trader, helped to inspire the entrepreneurial spirit in his grandson.

Dangote used pocket money furnished by his grandfather to buy sweets, which he had others sell for a profit. 

Career 

Aliko Dangote is the founding president and CEO of the Dangote Group conglomerate. Dangote’s latest venture involved constructing a $12 billion oil refinery in Lagos to solve the fuel crisis in Nigeria, where 38% of imports were petroleum-based.

With an eye to expansion into agriculture, Dangote also planned to build, at the same site, a pair of fertilizer plants. It was expected that when the refinery and fertilizer plants became operational in 2019, they would create at least 235,000 jobs.

In 2014, Dangote provided a substantial donation of some $1 million to help halt the spread of the deadly Ebola virus in West Africa, and in 2016 he partnered with Microsoft founder Bill Gates to pledge $100 million to address malnutrition, a problem that affected some 11 million children in northern Nigeria.

Today, Dangote Group dominates the sugar market, with his sugar refinery being the major supplier to 70% of the market. It also imports fish, rice, pasta, fertilizer, and cement. 

As of 2022, Aliko Dangote’s net worth is estimated to be roughly $16 billion.

How Does Aliko Dangote Spend His Money? 

Aliko Dangote spends some of his money on real estate, cars, and private jets. 

Aliko Dangote’s Home 

Dangote currently resides in his Abuja mansion. The Dangote’s mansion is worth $30 million. 

Aliko Dangote’s Cars 

Dangote owns cars, including Maybach 57S Knight Luxury, a Bugatti Veyron, a Mercedes-Benz CL65 AMG, and a Bentley Mulsanne. 

Aliko Dangote’s Private Jet 

Dangote owns a Bombardier’s Global Express XRS private, worth $45 million. 

Highlights 

Here are some of the best highlights of Aliko Dangote’s career: 

• Founder and chairman of Dangote Group
• The Guardian Man of the Year (2015) – Won
• 50 Most Influential Individuals in the World (2015)

Favorite Quotes From Aliko Dangote 

“You could easily tell that hard work and perseverance go hand in hand with patience. We often hear people say patience is worth it, yet we don’t practice it. I did and looked at how well it worked out for me.” – Aliko Dangote

“I enjoy myself a lot, but I derive more joy in working. I believe in hard work, and one of my business success secrets is hard work. It’s hard to see a youth that will go to bed by 2 am and wake up by 5 am. I won’t rest until I achieve something.” – Aliko Dangote

“You could easily tell that hard work and perseverance go hand in hand with patience. We often hear people say patience is worth it, yet we don’t practice it. I did and looked at how well it worked out for me.” – Aliko Dangote

“I always tried to move up the food chain. I started with cement and then moved into textiles and banking. When I was trading sugar, I added salt and flour so that then we could do pasta. And then I thought, why not make the bag for it, too? So, we started making packaging.” – Aliko Dangote

“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.” – Aliko Dangote

3 Success Lessons From Aliko Dangote 

Now that you know all about Aliko Dangote’s net worth and how he achieved success; let’s take a look at some of the lessons we can learn from him:

1. Power Of Branding 

There is power in branding. That is one thing that sets Aliko Dangote apart from the others. The Dangote brand is associated with the shrewdness and excellence of his person.

He built this brand from his days as a trader and jealously guided it as he became a world-class manufacturer. Every entrepreneur knows that he must diligently build his company into a brand the customers must identify with if he must be successful.

2. Systemize The Business 

No successful business person can run a business as big as the Dangote group without systemizing it and putting a round peg in a round hole to run the system. Today the group has branches all over Nigeria and in sub-Saharan Africa.

3. Possess Good Skills 

As a businessman, without good negotiating skills, you won’t go far in business. Dangote is a master in the art of negotiating. That’s why he is in most African countries. 

Summary 

Aliko Dangote is a Nigerian businessman who has earned his net worth by founding The Dangote Group, which now controls much of Nigeria’s commodities trade.

He is a self-made business tycoon. He is the 43rd wealthiest person in the world and the wealthiest person in Africa. 

As of 2022, Aliko Dangote’s net worth is roughly $16 billion.