The richest man in Africa’s most populated country has a net worth £10.4 billion more than King Charles
Aliko Dangote, Africa’s richest man, is worth around £11 billion. This makes his fortune 18 times larger than King Charles’ estimated net worth of £611 million.
The 67-year-old Nigerian has built his wealth through the Dangote Group, a massive industrial empire that includes cement production, sugar production and now oil refining.
Dangote Cement is Africa’s largest cement producer, with operations in 10 countries and a production capacity of nearly 48.6 million metric tons annually.
Born in 1957 into a wealthy family in Kano, northern Nigeria, Dangote began his career as a trader after securing a ₦500,000 (£257.73) loan from his uncle.
He traded in commodities, including bagged cement as well as agricultural goods like rice and sugar, before expanding his business and transforming it into one of Africa’s biggest industrial powerhouses.
Today, the Dangote Group is one of the largest conglomerates in Africa, encompassing divisions like Dangote Sugar Refinery, Dangote Cement and Dangote Flour with over 11,000 employees.
Dangote has also invested in Nigeria’s agriculture sector with his fertiliser plant, which began operations in 2022.
But his most ambitious project is the Dangote Refinery, commissioned in 2023.
It’s one of the largest oil refineries in the world and is set to transform Nigeria’s energy industry by reducing the country’s dependence on imported fuel.
Outside of business, Dangote is known to fan of Arsenal FC and has previously expressed interest in buying the English football club.
He lives a disciplined life, reportedly working 12-hour days and maintaining a rigorous fitness routine.
Dangote has also stayed active in philanthropy throughout his life.
He’s worked with the Bill & Melinda Gates Foundation on health issues and donated millions to fight Ebola and COVID-19 in Nigeria. He has also supported victims of insurgency and other crises in Africa.