A. Dangote.
The latest Forbes list of richest men in the world was released today, Nigeria’s business man Aliko Dangote is the richest African and he made a quantum leap on the list from 200+ position last year to 51 position in the latest list, surpassing a whole lot of bunch like Abramovich Richard Branson, Oprah Winfrey and followed closely by Mark Zuckerberg of Facebook.
Forbes says Aliko Dangote has a networth of $13.8billion as of March 2011, ranking him 51st in the world and number 1 in Africa.
The 53-yr old businessman’s fortune surged 557% in the past year, making him the world’s biggest gainer in percentage terms.
The listing of his company, Dangote Cement, on the Nigerian Stock Exchange served as a catalyst. His company’s listing now accounts for a quarter of the market capitalization of the Nigerian Stock Exchange. Dangote Flour, Dangote Sugar and national Salt, his other companies also listed on the exchange, means that he accounts for close to 35 per cent of the total market capitalisation.
The Nigerian businessman’s fortune surged 557% in the past year, making him the world’s biggest gainer in percentage terms and Africa’s richest individual for the first time. The catalyst was listing Dangote Cement, which integrated his investments across Africa with his previously public Benue Cement; it now accounts for a quarter of the Nigeria Stock Exchange’s total market cap. Already the continent’s biggest cement maker, he has plants under construction in Zambia, Tanzania, Congo and Ethiopa and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places. Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering there later this year. Dangote began his career as a commodities trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.
Dangote began his career as a commodities trader.
Aliko Dangote – how did he become Africa’s richest person overnight?
According to Forbes, Aliko Dangote, Africa’s richest man and Nigeria’s first billionaire is worth .8 billion. Forbes reports that the Nigerian businessman's fortune surged 557% in the past year; making him the world's biggest gainer in percentage terms and Africa's richest individual for the first time.
The name Aliko Dangote, first flew on Chocolate City's radar after it was announced that he purchased a nice little birthday present when he turned 53-years-old. He paid $45,000,000 million for a Bombardier Global Express XRS aircraft.
According to Forbes, Dangote, Africa’s richest man and Nigeria’s first billionaire is worth $13.8 billion. Forbes reports that the Nigerian businessman's fortune surged 557% in the past year; making him the world's biggest gainer in percentage terms and Africa's richest individual for the first time.
Dangote began his career as a commodities trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas. Established in May 1981 as a trading business with an initial focus on cement, Dangote Group diversified over time into a conglomerate trading cement, sugar, flour, salt and fish. By the early 1990s Dangote Group had grown into one of the largest trading conglomerates operating in the country and the largest cement plant in sub-Saharan Africa..
In 1999, following the transition to civilian rule and after an inspirational visit to Brazil to study the emerging manufacturing sector, the Dangote Group made a strategic decision to transit from a trading based business into a fully fledged manufacturing operation. In a country where imports constitute the vast majority of consumed goods, a clear gap existed for a manufacturing operation that could meet the 'basic needs' of a vast and fast growing population.
As Africa's largest cement maker, Dangote Group has plants under construction in Zambia, Tanzania, Congo and Ethiopia and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places.
This month, Dangote pledged $2 million to establish a fellowship program aimed at grooming young leaders from Africa. Details of the fellowship as well as the selection criteria are yet to emerge, but Dangote promised that his Dangote Foundation will award the fellowship to 35 young Africans
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