Dangote emerges the only black billionaire among the world’s 50 richest people

Posted by News Express | 1 February 2016 | 2,959 times

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Pan-African investor, AlhajiAliko Dangote, has emerged as the only black billionaire among the world’s 50 richest people.

The Nigerian serial investor, Founder and President of Dangote Group, presently commands a fortune of $14.3 billion, according to a rating released today by Business Insider.

“There’s only one person in all of Africa who makes the list of the 50 richest people on earth: Nigerian businessman Aliko Dangote. When our ranking was released, Dangote’s net worth stood at $14.3 billion, equal to 2.5% of Nigeria’s GDP,” Business Insider said.

“Dangote tied for 49th on our ranking of the world’s 50 richest people – produced with Wealth-X, a company that conducts research on the superwealthy – and is the only black person to make the list,” the paper said in an online article.

Dangote began business as a petty trader in his native Kano in Nigeria’s North-West bt has since metamorphosed into a manufacturing giant. The bulk of his wealth stems from a more than 90% stake in Dangote Cement, his $2.4 billion in sales company that’s publicly traded on the Nigerian Stock Exchange.

Dangote’s business interests span several African countries. He owns cement plants in Zambia, Senegal, Tanzania, and South Africa. In 2011, the commodities baron invested $4 billion to build a facility on the Ivory Coast.

Dangote, who has been CEO and president of Dangote Group for 35 years, is also an active philanthropist. As chairman of The Dangote Foundation, he oversees several education, agriculture, and health initiatives, including a $12,000-per-day food program for the undernourished.

•Photo shows Aliko Dangote.

Source: News Express

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