Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#102 Aliko Dangote $12.7B

Random fact: His companies make up a third of Nigeria's total public market value.


Africa's richest person controls Dangote Group, a closely held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa's biggest cement producer, Dangote Cement, which had revenue of 491.7 billion naira ($2.49 billion) in 2015, and has interests in sugar, salt, flour, beverages and packaged food.

As of Dec. 11, 2017:
Last change -$224M (-1.7%)
YTD change +$2.35B (+22.6%)
Industry Industrial
Biggest asset DANGCEM NL Equity
Citizenship Nigeria
Age 60
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Aliko Dangote's net worth of $12.7B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Dangote's fortune is derived from his 91 percent stake in publicly traded Dangote Cement. He holds the shares in the company directly and through his conglomerate, Dangote Group.

Dangote's other publicly traded assets include stakes in Dangote Sugar, Nascon Allied Industries, Dangote Flour Mills and United Bank for Africa. His stakes in the publicly traded companies are held directly and through Dangote Group, which also owns closely held businesses in beverage manufacturing, fertilizer and oil.

The valuation of Dansa Foods, his beverage maker, is based on calculated revenue extrapolated from Euromonitor data on Nigeria's juice and bottled water industries, and the average enterprise value-to-Ebitda and enterprise value-to-sales multiples of three comparable publicly traded companies. A 10 percent discount for country risk is applied.

The billionaire owns six residential and commercial properties in Lagos. They are valued using the capitalization method, using rental income provided by Dangote's spokesman, Anthony Chiejina, and capitalization rates from CBRE Broll Nigeria.

Through Chiejina, Dangote said he has $1.475 billion in net cash as of Oct. 30, 2015.


Birthdate: 4/10/1957
Family: Married, 3 children
Education: 1977, Business, AL-Azahar University, Graduated

Africa's richest person was born in Kano, Nigeria, in 1957. His great-grandfather became one of the richest men in west Africa trading kola and ground nuts. Dangote's father died when he was eight, leaving him to be raised by his maternal grandfather, who was a building materials trader.

After graduating from Egypt's Al-Azhar University with a degree in business, Dangote returned to Nigeria, where he started his own cement trading business funded by a loan from his uncle. He moved from Kano to Lagos, and ramped up imports. In 1981, he formed the corporation that later became Dangote Group.

Throughout the 1980s and 1990s, Dangote diversified his operation to include trading sugar, flour, fish, rice, milk and iron. After traveling to Brazil to study manufacturing in 1996, Dangote shifted the company's focus from trading to manufacturing, believing there was an opportunity to create a local operation that would profit from meeting the basic consumer needs of Nigeria's growing population.

Dangote began building salt and sugar refineries, flour mills and a pasta factory in 1999. A year later, he bought the Benue Cement Co. from the Nigerian government. He later commissioned the Obajana Cement Plant, currently the largest cement facility in sub-Saharan Africa.

Today, Dangote Group's publicly traded businesses -- Dangote Cement, Dangote Sugar, Dangote Flour Mills and National Salt Co. of Nigeria -- make up about one-third of the market capitalization of the Nigerian Stock Exchange.

A practicing Muslim, Dangote goes by the title "Alhaji," an honorific granted to a man who has completed the pilgrimage to Mecca. He lives in Lagos with his wife and three children.

  • 1957 Aliko Dangote is born in Kano, Nigeria.
  • 1977 Graduates from Al-Azhar University in Cairo.
  • 1977 With loan from uncle, starts his own cement trading business.
  • 1981 Founds the company that later becomes Dangote Group.
  • 1996 Visits Brazil to study its emerging manufacturing sector.
  • 1999 Dangote starts strategic shift from trading to manufacturing.
  • 2003 Commissions what is now Africa's largest cement plant, Obajana.
  • 2010 Dangote Cement debuts on the Nigerian Stock Exchange.