Aliko-Dangote

Aliko Dangote

by Isi Esene

Mexican businessman, Carlos Slim has retained his position as the richest man in the world again beating Microsoft’s Bill Gates and Zara Fashion House boss, Amancio Ortega to the position.

Slim is into telecommunications and retail/industry business making a fortune of about $73bn, up by $4bn over the past year.

However, Africa’s richest man and founder of the Dangote Group, Aliko Dangote has retain his position moving up to the 43rd position in the world’s rich list.

According to Forbes Magazine which looks into the assets of this wealthy individuals: “In October, he sold off a controlling stake in his flour milling company to Tiger Brands of South Africa. He pocketed $190 million in cash. In February, his Dangote Sugar Refineries acquired a 95% stake in Nigerian sugar producer Savannah Sugar in a bid to maintain its dominant position in the Nigerian sugar industry. 

“Dangote started building his fortune more than three decades ago when he began trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle. He delved into full production of these items in the early 2000s and went on to build the Dangote Group, West Africa’s largest publicly-listed conglomerate, which now owns sugar refineries, salt processing facilities and Dangote Cement, the continent’s largest cement producer. A fitness buff, Dangote jogs everyday.”

The wealthy business doesn’t just know how to make the money but he also knows how to spend it, the 55-year-old business, said to be about $16.1, recently bought a yacht which he named after his mother, Amiya.

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