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With an estimated fortune of US$13,58 billion, Aliko Dangote, the richest man in Africa's most populous country, has accumulated 18 times more wealth than King Charles, leading industries such as cement, sugar and oil, in addition to transforming the Nigerian economy with one of the largest refineries in the world.
Africa’s richest man, Aliko Dangote, has a fortune so colossal that it makes King Charles’ net worth look like pocket change. While the British monarch has an estimated $763,5 million, Dangote is worth an impressive $13,58 billion – a difference of $12,82 billion! But who is this tycoon who eclipses one of the world’s most famous thrones?
Who is Aliko Dangote?
Aliko Dangote was born in 1957 in Kano, northern Nigeria. From an early age, he had the privilege of growing up in a wealthy family, but it was his entrepreneurial vision that truly transformed his life and made him the richest man in Africa. With a loan of ₦500.000 (about US$319,87 at the time) from his uncle, Dangote started trading commodities such as cement, rice and sugar.
That small beginning was the springboard for the Dangote Group, now one of Africa's largest industrial conglomerates, with divisions that include the continent's largest cement producer, a sugar refinery and even a fertilizer factory.
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How did Dangote build his fortune?
The key to Dangote’s success has been his ability to diversify and dominate markets. His cement company, Dangote Cement, leads the industry on the continent, with operations in ten countries and an annual output of nearly 48,6 million metric tons.
But he didn’t stop there. In 2023, Dangote launched the Dangote Refinery, one of the largest in the world. This ambitious project is transforming Nigeria’s energy industry, drastically reducing the country’s dependence on imported fuels.
Dangote beyond business
In addition to being a business visionary, Africa’s richest man maintains a disciplined life. He works 12-hour days and follows a rigorous exercise routine – a lesson for those who think success comes easy.
And, like any passionate footballer, he also has a laid-back side. A self-confessed Arsenal FC fan, Dangote has already expressed interest in buying the English club. Can you imagine? One of Africa's biggest businessmen running one of Europe's biggest teams!
Philanthropy and social impact
Dangote is rich not only for your own benefit. He is an active philanthropist, collaborating with the Bill & Melinda Gates Foundation on public health issues. During the Ebola and COVID-19 crises, he donated millions to fight the diseases and support health infrastructure in Nigeria.
He is dedicated to helping victims of insurgencies and other humanitarian crises in Africa, showing that his success is also a tool to transform lives.
Why isn't King Charles that rich?
While Dangote built his fortune in the private sector, much of Charles’ wealth is tied up in the British crown and its properties. This means that much of what appears to be “his” is actually controlled by public institutions.
