Nigerian business magnate Alhaji Aliko Dangote has an estimated net worth of $17.7 billion as of 2015, but dropped to $10.9 billion as of Oct 2018, according to Forbes. This self-made billionaire is the Chairman and CEO of Dangote Group. He is the richest man in Africa and richest black in the world. Dangote made his wealth from cement, sugar and flour.
Born on 10 April 1957 in Kano, Nigeria into a wealthy Muslim Hausa family. He started doing business at the age of 21 after studying business at the Al-Azhar University in Cairo, Egypt. He launched the Dangote Group in as a small trading firm in 1977. Today the group is one of the biggest conglomerates in Africa with interest in Cement, Sugar, Salt, Flour, Steel, Oil and Gas.
The Nigerian billionaire is looking beyond sugar, cement and flour. These main three things that has built his fortune; Aliko is now investing in oil and will be spending over $9 billion on this project. This will help in reducing Nigeria’s dependence on importing oil. Aliko main source of wealth is Dangote cement, established in several African countries.