Aliko Alhaji Mohammed DANGOTE

Primary Position President Age 59
Primary Company Dangote Group Birthday 10 Apr 1957
Estimated Net Worth At least $15.6 billion Residences Ikeja, Lagos, Nigeria
Source Self-Made
Hometown
Kano, Nigeria
Religion Muslim
Ethnicity Black
Alternative Names Alhaji Aliko Dangote
Marital Status Married

Biography

Native of Nigeria, born in 1957. Dangote received his Bachelor's degree from Al-Azhar University in Egypt. Started his career working for his uncle, Abdulkadir Sasuni Dantata, from whom he borrowed money to start a commodities trading, cement and building materials import business in Kano, Nigeria in 1977. Gradually expanded the business and relocated to Lagos, Nigeria where he began importing cars and cement needed for Nigeria's economic expansion. In 1981, he formed a corporation which later became Dangote Group, an international business conglomerate with interests in cement, sugar, salt, flour, pasta, noodles, poly products, real estate, logistics, telecommunications, steel, oil, gas, and beverages. In 2010, Dangote Cement was listed on the Nigerian Stock Exchange (NSE); Dangote Sugar, Dangote Flour and NASCON are also listed on the NSE. Dangote owns cement plants in Zambia, Senegal, Tanzania and South Africa. In 2011, he invested $4 billion to build a new cement facility on the Ivory Coast; also invested $115 million to build a cement plant in Cameroon. Dangote donates through the Dangote Foundation. Currently, serves as CEO and President of Dangote Group and is Chairman of Dangote Cement, a subsidiary of Dangote Group. In November 2015, Dangote stepped down as Director of Dangote Flour Mills. In December 2015, hee stepped down as a Director of the NASCON Allied Industries, formerly known as National Salt Company of Nigeria (NASCON), a salt refining subsidiary of the Dangote Group.

Education History

Institution Name Qualification Name Education Type Start Date End Date
Al Azhar University Bachelor's degree Undergraduate

Interesting Facts

Dangote Sugar Refineries has won numerous awards. In 2007 and 2008, won the Nigerian Stock Exchange's "President Merit Award" for best quoted company in the food and beverage sector. Also won "Global Excellence Company of the Year Award" in 2007. The Standards Organization of Nigeria awarded the company the "NIS ISO 9001:2000 International Quality Management Award." In 2009, won "International Quality Award" in the Gold Category, by renowned Business Initiative Directions of Madrid, Spain.
Dangote has been married and divorced three times; reportedly appears to be married with three adult children.
In March 2014, Dangote Group reportedly planned to build a $600-million cement plant in Kenya.
In June 2014, Dangote was honored with the award of excellence by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in recognition of the outstanding performance of Dangote's companies across the country. The award ceremony was held in in the NICON Luxury Hotel in Abuja, Nigeria. The award was presented by Shina Luwoye, the former President of PENGASSAN.
In February 2014, Dangote led public-private institution, Private Sector Health Alliance of Nigeria, reportedly planned to hold the first ever healthcare hackathon to contribute to the effort to save one million lives movement and advanced progress in meeting the health Millennium Development Goals by focusing on innovation, partnerships, advocacy and impact investments.
In August 2014, Dangote stated that he would invest $1 billion in commercial rice farming and modern rice mills.
In August 2014, Dangote industries partnered with Black Rhino Group, a portfolio company of New York, New York-based private equity Blackstone to invest up to $5 billion over a span of five years into energy infrastructures in Africa focusing mainly on power, transmission and pipeline projects. Blackstone agreed to bear $2.5 billion out of the $5 billion investment. Dangote Industries is also partnering with Washington-based asset management firm, The Carlyle Group to invest across the oil & gas value chain financial services, consumer and agribusiness sectors to help build the African economy. The financial details were not disclosed.
In 2009, Dangote was reportedly involved in a share manipulation scam involving African Petroleum (AP), a company owned by Femi Otedola. Otedola accused Dangote of causing a sharp drop in AP share prices in order to remove Otedola from the list of world's billionaires.
In March 2014, Dangote and the Saudi Arabian financial institution Islamic Development Bank reportedly planned to sign a partnership to boost job creation in Africa. He also planned to invest $1.2 billion in his foundation, the Dangote Foundation, to provide aid in various sectors including education, health and job creation in Africa and other parts of the world.
Dangote reportedly rewarded at least $800,000 as a cash gift to the Nigerian Soccer Team Super Eagles, for reaching the finals of Africa Cup Of Nations (AFCON) 2013, in Johannesburg.
As a custom in Nigeria, Dangote was taken away from his parents Mohammed Dangote and Mariya Sanusi Dantata when he was 6 months old and sent to live with his grandfather, Sanusi Dantata, a wealthy and successful trader. Dangote was educated at local schools, where he made pocket money by selling candy to his classmates.
During the Kano Civil War, Dangote's great-grandfather, Alhassan, and his brothers were captured and sold as slaves, but they were able to buy back their freedom and return to Bebeji, a local government area in Kano State, Nigeria.
Dangote is the great-grandson of a wealthy kola nut trader from Kano, Nigeria. In 1977, he used a small loan from his uncle to trade in rice, sugar and cement, reinvested the profits until he could venture into full-scale manufacturing. In 1981, the Dangote Group was established as a conglomerate with focus on cement, also with interests in sugar, flour milling, salt processing, textiles, real estate, oil and gas. By the early 1990s, the Dangote Group had grown into a trading conglomerate in the country with the largest cement plant in sub-Saharan Africa.
Dangote Group has four companies listed on the Nigerian Stock Exchange (NSE), Dangote Cement, Dangote Sugar Refinery, Dangote Flour Mills and the National Salt Company of Nigeria (NASCON).
In October 2013, Dangote reportedly planned to construct a 1,000-bed hospital in Kano, Nigeria, which will be the largest health facility in the northern state.
Dangote is known as the 'Golden Child' in Nigerian business circles.
Dangote once said, "If you give me today $5 billion, I will not invest ... abroad; I will invest everything here in Nigeria. Let us put heads together and work. Nigeria is really the best place to invest. ... to make money. You know all over the world it is the best kept secret actually in terms of investment."
In 2012, "Aliko Dangote: The biography of the richest black person in the world," was accepted for publication by a publishing company based in New York.
In June 2014, Dangote Group's subsidiary Dangote Industries Limited secured a $300-million loan from African Development Bank (AfDB) for the construction and operation of a greenfield crude oil refinery and a greenfield fertilizer manufacturing plant.
In April 2014, Dangote Group reportedly donated 12 trailer loads of relief materials worth $248,698 to the Benue State, Nigeria. The relief materials were given to the state government to serve as aid to the victims of clashes between the Fulani people and the Mbalagh community in which several people were killed.
Plans to lead a $7 billion investment in Nigeria's power, petrochemical and mining sectors. Dangote controls much of Nigeria's commodities trade through his corporate and political connections.
Dangote, a commodity trader, obtained his wealth during the regime of former President, Olusegun Obasanjo, who encouraged Dangote to sell State-owned corporations, presidential aircraft and government properties. Taking advantage of the situation, Dangote seized full possession of the cement market and took up the highest import quotas of all local companies. Also received lavish import and export waivers from several presidents including Obasanjo, Yaradua and Goodluck Jonathan.
In November 2015, Dangote was conferred an honorary doctorate by Ogun, Nigeria-based Tai Solarin University of Education (TASUED). In 2011, Dangote was awarded Nigeria's fourth highest honor, "Member of the Order of the Federal Republic (MFR)" by President Goodluck Jonathan. Also received "Grand Commander of the Order of the Niger (GCON)" the second highest national honor award, an honor reserved for Vice Presidents of the country. Dangote was the first private sector citizen to receive this award. Domestic and international accolades in recognition of his achievements and philanthropy include the 2010 "One of 50 Distinguished Nigerians" award, "Sun Man of the Year 2010," "Fate Foundation Model Entrepreneur of the Decade" and "Business World Investor of the Year 2010." In 1992, won the prestigious "ZIK Award" for Leadership in recognition of his significant contributions to business in Nigeria. In 2002, won the Cross River State Roll of Honor Award as "Best Entrepreneur and Philanthropist" and won the first-ever "Fellowship Award" by Lagos State Polytechnic. Was bestowed an Honorary Degree of Doctor of Science in Business Management by the University of Calabar in 2002. In 2004, received the "Distinguished Fellowship Award" from Nigerian Law School. In 2006 and 2007, won "Entrepreneur of the Year Award" by Thisday and was awarded "CEO of the Year Award" by Thisday for Excellence and Good Governance. In 2005 and 2007, won the most respected "CEO of the Year" by PricewaterhouseCoopers. In 2007, Dangote was bestowed an Honorary Degree of Doctor of Technology by the Federal University of Technology. In 2008, won "Corporate Citizen of the Year" by Thisday Awards. In 2008, received the "Africa Entrepreneur of the Year Award" in Los Angeles, California. Received Honorary Doctorate in 2009 from the University of Science and Technology and from Bayero University in 2010. In 2011, received Honorary Doctorate from the University of Crescent University. In 2011, won "African Entrepreneur of the Year" and "African Business Leader of the Year Award."
In 2012, Dangote sold a controlling stake in his flour milling company Dangote Flour Mills to Sandton, South Africa-based packaged food company Tiger Brands for $200 million. In December 2015, Tiger Brands agreed to sell a 65.7% in their Nigerian division to Dangote Industries for $1 and receive a cash injection of $50 million.
Dangote planned to unite his cement businesses across Africa into Dangote Cement. He also announced plans to list Dangote Cement, which is already listed in Nigeria, on the London, U.K., and Johannesburg, South Africa, stock exchanges.
In 2011, Dangote was a Panelist for the 17th Nigerian Economic Summit in Abuja, Nigeria.
In April 2014, Dangote Group reportedly planned to build a cement factory in Niger worth $421 million. The plant when completed would be capable of producing 1 million tons of cement per year and would employ around 3,000 people.
In 2013, Dangote received funds of at least $4.25 billion to build an oil refinery to help Nigeria reduce its dependence on oil imports; reportedly received the loan from two offshore banks and several Nigerian banks. Dangote reportedly invested at least $8 billion to build a refinery in Nigeria; expected to have a capacity of about 400,000 barrels a day and reportedly will be completed by 2016.
In January 2014, Dangote Group reportedly planned to buy Nigerian oil fields as The Hague, Netherlands-based oil and gas company Royal Dutch Shell and San Ramon, California-based energy company Chevron are selling onshore and shallow-water fields in Nigeria owing to continued violence and crude theft.
In January 2014, Dangote Group reportedly planned to invest $2.3 billion in agriculture, $2 billion in sugar and $300 million in rice production in Nigeria, resulting in the creation of 180,000 jobs. He aims to stop imports and make country self-sufficient in food production.
Dangote commented on attending conferences, "There are too many conferences in Nigeria. There are just too many, if I allowed it, conferences would take up at least half of my time."
In 2011, Dangote sponsored an African Fellowship Programme (AFP) at the Forum of Young Global Leaders. The objective of the fellowship was to increase the participation of young Africans, particularly in the non-business sector. The Young Global Leaders (YGL) community program is administered by the World Economic Forum. According to Dangote, the fellowship will initially run for five years. Beneficiaries of the fellowship will go through intense leadership training at highly ranked international institutions.
In December 2013, Dangote reportedly planned to invest $16 billion in cement, petrochemicals and agriculture businesses. His investments include $4.7 billion to finish the projects in cement and $2.3 billion in sugar and rice.
In 2010, Dangote was interested in acquiring a 16% stake in Arsenal Football Club, an English Premier League football club which belonged to the club's former Director Lady Nina Bracewell-Smith. He later denied these as rumors. In May 2015, he confirmed his interest to acquire a stake in the club.
After backing various cement contracts from former Presidents Obasanjo, Yar'Adua and present President, Goodluck Jonathan, Dangote said, "I am close to people in government because I am one of the big businessmen in Nigeria. If we don't have the right people there then all the money I have is useless."
In March 2014, Dangote reportedly blamed the Nigerian Football Federation (NFF) for the delay in the redemption of the $1 million pledge, which he wanted to donate to the Super Eagles a year ago for winning the 2013 Africa Cup of Nations.
In 2012, Dangote Group started the Calabar cement plant in Cross-River State, Nigeria. According to Dangote, the Calabar production plant would generate six million metric tons of cement for the Eastern market and some African countries such as Cameroon.
In May 2014, Dangote attended the World Economic Forum held in Abuja, Nigeria, and announced his plans to invest $2.3 billion in rice and sugar production in Nigeria's northern region and stated that creating jobs was a crucial way of putting an end to the poverty and insurgency in that area as it was a Boko Haram Islamic sect base camp. The Boko Haram was responsible for abducting more than 200 school girls from a government-owned high school in Borno, Nigeria in May. He also announced plans to invest around $16 billion throughout Africa over the next four years with $12 billion to be dedicated towards investment in Nigeria's northern region.
Reputedly ruthless, and has been accused of aggressive price cutting to drive smaller rivals out of business.
In 2010, Dangote had reportedly bid for Anglo-Dutch multinational energy company Royal Dutch Shell's 45% stake on OML 30, but had lost out to Nigerian energy company Conoil Producing. In March 2014, Dangote Industries reportedly planned to acquire a stake in a Nigerian gas field owned by Shell. It was reported to have submitted the highest bid for the Shell's stake in Oil Mining Lease (OML) 18 at an auction in 2013.
In January 2014, Dangote reportedly planned to reduce his shareholding in Dangote Cement which he holds through Dangote Industries by October 2014. Dangote Industries may have to divest more than 2.3 billion ordinary shares as it plans to go public in October 2014. Dangote Cement reportedly planned to complete following projects at Zambia, Tanzania, South Africa, Republic of Congo and Gabon in 2014 which will add 13.5 million metric tonnes of cement per annum to the existing capacity. In September 2014, Investment Corporation of Dubai , a sovereign wealth fund owned by the government of Dubai, United Arab Emirates, reportedly invested $300 million in Dangote Cement for a minority stake.
It was reported that Dangote's company, Dangote Cement, spends about $1.5 million a day on diesel and gas to power its electricity plants at the outfit's cement factories around Nigeria due to an inadequate source of fuel.
In February 2014, Dangote reportedly announced plans of building a cement plant worth $293 million in Yamba, Southern Congo, through the Dangote Group. The facility is expected to produce over 1.5 million tons of cement per year, providing more than 650 jobs, and the construction is to be completed in two and a half years.
In 2011, Dangote reportedly announced an investment of $7.7 billion in Rivers Energy City, Nigeria, part of the Greater Port Harcourt City mega city concept. Dangote's investment will reportedly involve the methane and ethanol industries.
For his 53rd birthday in 2010, he bought himself a Bombardier Global Express XRS aircraft for which he paid $45 million.
Dangote, who owns private jets, claimed he doesn't remember when he last flew on commercial aircraft.
In February 2014, Dangote reportedly planned to invest $9 billion in the Lekki Free Trade Zone, West Africa, which would focus on the development of Dangote Refineries and Petrochemical Company. This would help create jobs for at least 8,000 engineers along with other jobs.

Interests, Passion, Hobbies

Hobby Name Description
Politics Donated at least $2 million to Olusegun Obasanjo's re-election campaign.
Business Dangote stated that he works 12 hours a day.
Health and Wellness - Exercise Has said of his fitness regime, "I like exercising a lot, I go to the gym almost every day."
Business - Management Holds a Bachelor's degree in Business Administration from Al-Azhar University in Cairo, Egypt.
Public Speaking Attends college programs and press conferences as a guest speaker.
Aviation Owns a 2013 Challenger 605 serial number 5930 registration number N605DA through Dangote Cement; a 2010 Bombardier Global Express XRS serial number 9266 registration number N104DA through Dangote Industries and a 1993 Hawker 1000B-259018 serial number 259018 registration number 5N-DGN through Dangote Group.
Business - Entrepreneurship Established Dangote Group in 1981.
Outdoors - Walking In an interview, he said, "I do about 15 kilometers at least 6 times a week."
Sports - Football/Soccer Reportedly expressed interest to buy a stake in Arsenal, an English soccer club.
Boating - Yachts Reportedly owns a $43 million custom-made luxury yacht, which was named Mariya after his mother.
Technology - Social Networks Reportedly joined Twitter with @AlikoDangote as his Twitter handle.
Finance - Investment Dangote has been actively investing in the food and clothing industry.
Philanthropy Generous philanthropist, donates through the Dangote Foundation; has reportedly donated millions to educational, health and social causes.

Philanthropy

Giving Profile
Chairman of the Dangote Foundation. The Dangote Foundation was set up to drive Dangote's corporate social responsibility initiatives. The foundation focuses on improving the living conditions of Nigerians by supporting hunger and water supply projects, strengthen the quality and quantity of health and education, and promote Nigerian economic development. The foundation runs a $12,000 daily feeding program; built boreholes and has provided water to rural and urban communities across Nigeria. In 2010, the Dangote Foundation endowed relief material of at least $400,000 to Jos and Bauchi crisis in Lagos, Nigeria. Donated at least $600,000 to help flood victims in 11 local government areas in Sokoto State, Nigeria. In 2010, donated $750,000 to assist famine victims in the Niger Republic. In 2011, donated at least $90 million in sundry projects for Nigerian social development. In 2012, donated $500,000 to the Republic of Congo where more than 200 people were killed. In 2012, the foundation donated 3,000 cartons of spaghetti, 6,000 cartons of noodles worth $150,000 and $300,000 in cash to the Jigawa State Government to ease the suffering of flood victims. Donated $6 million towards building an International Cancer Centre in Abuja, Nigeria. Donated $2 million to post election crisis victims of the Bauchi, Gombe and Kaduna governments. The foundation donated $2 million to the UN World Food Programme (WFP) to help flood survivors in Pakistan; at least 325,000 children received aid. Donated $360,000 to the Oyo State Government to assist flood victims, $100,000 to Ubayyu Bin Ka'Ab Islamiyya School, $60,000 to Al-Muhibbah Foundation and $30,000 for the construction of Tudun Wada Juma'at Mosque, Kaduna, Nigeria. Donated $15.8 million to support flood disaster management efforts in Bayelsa State, Nigeria in October 2012. The Dangote Foundation started the Dangote Academy to train young technicians and craftsmen; to be employed in Dangote factories. Donated $300,000 to Lagos State Security Trust Fund; $60,000 to Al-Muhibbah Foundation; $100,000 to Ubayyu Bin Ka'Ab Islamiyya School, Kano, Nigeria; $10,000 to Dreamland Foundation, Lagos, Nigeria; $30,000 to University of Port Harcourt and $30,000 to Crescent University, Abeokuta, Nigeria. The foundation has helped in the construction various hostel complexes of many universities. In March 2014, Dangote reportedly planned to donate $1.2 billion to The Dangote Foundation from his personal cash reserves and also through the transfer of shares of his listed companies into the foundation, which he founded in 1994 to support initiatives in education, health and youth empowerment in Nigeria. A statement issued by the Dangote Group in July 2014 revealed that Dangote has donated $185 million over the past two years. Following the August 2014 Ebola outbreak, the Dangote Foundation donated around $924,000 towards containment and relief efforts in Nigeria. In December 2014, Dangote Foundation reportedly announced partnership with Kenyan politician Margaret Wambui Kenyatta's 'Beyond Zero' campaign which aims to improve maternal and child health outcomes in Kenya. The foundation also donated a fully-equipped mobile clinic in Kwale County, Kenya. In March 2015, Dangote Foundation made a scholarship donation of $100,250 to James Hope College in Agbor, Nigeria, which covers selected indigent students' school fees throughout their secondary school years. In May 2015, the Dangote Foundation pledged more than $4 million in the fight against the Ebola virus in Africa. In June 2015, Dangote Foundation donated $1 million to the quake-affected Federal Democratic Republic of Nepal, to support emergency efforts in providing relief to quake victims. In October 2015, the Dangote Foundation donated $249,485 to the One Billion Naira Insurgency Appeal Fund, a fund sponsored by Adamawa, Nigeria-based American University in Nigeria and its partner organization the Adamawa Peace Initiative to rehabilitate individuals displaced by the Boko Haram, an extremist group. In January 2016, Dangote along with William Gates, Co-Founder and Co-Chairman of nonprofit organization the Bill & Melinda Gates Foundation, pledged to donate $100 million to help eradicate malnutrition in Nigeria. In February 2016, the Dangote Foundation and the Bill & Melinda Gates Foundation pledged to donate $42 million towards healthcare programs to eradicate polio in Nigeria by 2018. In April 2016, Dangote pledged to donate $10 million as relief towards families affected by the rebellion of the Islamic state group Boko Haram in Nigeria.

Clubs & Boards

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Known Associates

Total known associates: 60. Total known associates net worth: $10.5 billion. To view details, sign up for Wealth-X Professional or Contact Us.

Family Details

Political Interests

Party Affiliation People's Democratic Party (Nigeria) Political Profile Generous political giver primarily supports the People's Democratic Party candidates and causes; lifetime giving exceeds $5 million. Top recipients include Olusegun Obasanjo's re-election campaign in 2003, where he donated $2 million, National Mosque under the aegis of "Friends of Obasanjo and Atiku", where he donated $500,000 for the rehabilitation of the National Mosque in Abuja and contributed $2 million to Olusegun Obasanjo Presidential Library Foundation.