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A look into Aliko Dangote’s Business Empire

Aliko Dangote, CEO of Dangote Group grabbed headlines earlier in the week after he skyrocketed to no. 65 on Bloomberg Billionaires Index.

A look into Aliko Dangote’s business empire

Aliko Dangote, billionaire and chief executive officer of Dangote Group, pauses during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. World leaders, influential executives, bankers and policy makers attend the 47th annual meeting of the World Economic Forum in Davos from Jan. 17 – 20.

 

Dangote still holds the number 1 spot on the Africa’s richest list as of February 28, 2019 with a net worth of $16.6 billion.

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So according to the latest ranking of the world’s 500 richest people, Aliko Dangote remains the wealthiest man in Africa as well as the 65th wealthiest in the globe.

Apart from him, this new list features only one Nigerian – Mike Adenuga, who is the second richest person in the country with a net worth of $2.8 billion, according to Bloomberg’s Index.

ALIKO DANGOTE BUSINESS EMPIRE

The major source of Aliko Dangote’s $16.6 billion came from Dangote Cement which turns out to be the largest cement producer in Africa.

It was founded by Aliko, chaired by him and it made a revenue if $2.4 billion in 2017.

Forbes reports almost 88% of the publicly-traded Dangote Cement through a holding company is owned by him.

Dangote’s empire is about to become bigger with his new fertiliser plant valued at $5 billion. Contractors are reportedly putting final touches to it.

There is also a vast oil refinery – a $12 billion project – which is still under construction.

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