Africa’s Richest, Dangote Net Worth Skyrockets, moves up 39 places

Renowned and celebrated Business Magnate, investor and President of Dangote Groups Aliko Dangote has moved up 39 places in recent rankings of world richest people.

AlikHeo Dangote, who remains the richest man in Africa for the eighth year running, was the only Nigerian on the list of the top 500 billionaires, as released last week by Bloomberg in its yearly billionaire’s list.

Dangote, Africa’s richest man, is the founder and Chairman Dangote Group -Dangote Cement, the continent’s largest cement producer.

Dangote Cement Produces 44million metric ton of cement and plans to improve it 33% by 2020.

He started business at age 21, Aliko Dangote borrowed $3,000 from his uncle to import and sell agricultural commodities in Nigeria, his native country and business venture quickly became a success, and as a result, he managed to repay the entire loan within three months of starting operations.

Aliko Dangote’s journey to fortune is not a rag to riches story as he came from a wealthy family that was able to provide financial assistance to start his business.

Over the years, Dangote has expanded into new business segments, including telecommunications, real estate and steel manufacturing.

Today Aliko Dangote, 61, is worth $16.6billion dollars according to Bloomberg as at 28th, February 2019.

He is currently constructing his own refinery in Nigeria and a fertilizer plant worth over $5billion dollars.

The other four Africans on the list are Nicky Oppenheimer of South Africa, who was ranked No. 216 with an estimated worth of $7.05 billion; Johann Rupert of South Africa (ranked No. 225 with an estimated worth of $6.92bn); and Natie Kash of South Africa (ranked No. 263 with an estimated worth of $6.10bn).

The fifth and last African on the list of 500 HNW individuals was Naguib Sawiris of Egypt, ranked No. 331 with an estimated fortune of $5.12bn.