How Dangote became the richest black man: Though the continent of Africa is rich in natural resources, most people view the large land mass as a place of poverty, war, and starvation. In reality, there is a huge amount of fluctuation from country to country with regards to wealth and quality of life. Nigeria, has emerged as one of the countries that is leading the pack with regards to having an international impact in the business world. This increase in the country’s international presence is largely due to one man – Aliko Dangote.
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Mr. Dangote has a net worth of $25 billion, is the richest person on the continent of Africa, the richest black man on the planet, and the 23rd richest man in the world. He is, by all accounts, one of the shrewdest businessman out there, and if he gets his way, he will most likely change the international view of Africa, and Nigeria in particular, in some very profound ways. Curious about where to invest your money in the future? Consider putting it with Mr. Dangote and his plan to make Nigeria an international superpower.
Aliko Dangote was born in Kano, Nigeria on April 10, 1957. His family was well off. His great-grandfather had established one of Nigeria’s most successful peanut farms, and the family made a sizable fortune exporting peanuts to the Europe in the early 1900s. Entrepreneurship was in Dangote’s blood, and he began selling candy, for a profit, while still in elementary school. Fast-forward to today, and everything the 56-year old businessman is doing, is in service of his relentless quest to grow his wealth and the fortunes of Nigeria. Initially, he focused on building his business presence. After graduating from Al-Azhar University in Egypt, with a degree in Business, he launched his first company, The Dangote Group, a trading company primarily dealing in cement. His family already had government connections, so he was able to secure the appropriate licenses quickly – a step that can often derail new ventures in Nigeria. Then he took his business elsewhere. He spent the next few decades working in South America, primarily Brazil. He made a major amount of money “cementing” Brazil, a country that was, and still is, on the rise. He bought multiple properties around the world, including homes in Atlanta. However, he ultimately decided to return to Nigeria, and to focus on bringing business to his home country.