Aliko Dangote, Nigerian Billionaire: Now 2nd Place in Africa

[Kenneth Erwin Engelhardt]

Image Source: https://www.forbes.com/profile/aliko-dangote/
Website: https://www.dangote.com/
Wikipedia: https://en.wikipedia.org/wiki/Aliko_Dangote
Instagram: https://www.instagram.com/aliko_dangotegcon/?hl=en
Twitter (X): https://twitter.com/alikodangote?lang=en
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An historic moment has taken place in the economic landscape of Africa as the long-seating wealthiest individual in the continent, Aliko Dangote, has been ousted by South African business tycoon, Johanne Rupert and his family. This changes was made known by a recent report released by Forbes Magazine.
In the report, the financial magazine has revealed that Nigerian billionaires Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings.
In the list, the Forbes Daily billionaires ranking platform, which tracks daily changes to the net worth of the most high-net-worth individuals across the world revealed that Aliko Dangote moved down to second position as his wealth decreased from $13.5b in 2023 to $9.5b in the start of 2024.

In the list, there were significant declines in the wealth of the billionaires. The wealth of Nigeria's Mike Adenuga, moved him to the tenth position, while Patrice Motsepe who was in the top ten in 2023 didn't make the top ten richest men in 2024. Additionally, no woman made the top ten richest list at the start of the year.

News Source: https://punchng.com/safrican-billionaire-dethrones-dangote-as-africas-richest-man/

[josson]

Aliko Dangote, the wealthiest man in Nigeria with an estimated net worth of $13.2 billion proceeds to take his business to another level by establishing a family office in Dubai.

This move has been considered strategic by Netizens as Dubai is known for its favorable and stable business environment, low crime rates, affordable taxes, and global connectivity.

In an interview, he revealed he had owned the place for 17 years before converting it into a family office. In addition, Dangote has a mutual relationship with the emirate. 10 years ago, the city's main holding company bought a minority stake in his cement firm, which marks Dubai's first major investment in Africa.

The new family office will be led by his daughter, Halima Bello, who is the wife of Sulaimon Sani Bello. This new office will explore global investment opportunities and expand his wealth beyond his industrial base -Africa.

Recently, Dubai has attracted many family offices as ultra-wealthy individuals and investors are relocating their operations to the city and this indicates that it is gradually becoming a destination for wealth creation, management, and growth.

It is believed that this move and decision stems from the depreciation and fluctuations of the Naira, alongside the prominence of the city as a financial hub, targeted at strengthening its global footprint by diversifying investments.

Link: https://furtherafrica.com/2024/10/01/dangote-expands-global-investments-with-dubai-family-office/

[josson]

Can One Man Really Save the Future? - Dangote's Revolutionary Ideas



In the 2024 Dangote Sustainability Week, scheduled for October 14-18, 2024, Aliko Dangote assured all stakeholders that his business is committed to the well-being of the environment. In his words: "It is my pleasure to open this year's Dangote Group Sustainability Week discussion on a subject that is critically important, not just to Dangote Industries Limited ("Dangote" or "The Company"), but for the future of humanity."

The Sustainability Week is a reach-out initiative themed - Business Optimization for Net Zero - The Dangote Journey, which focuses on the 7 Dangote Sustainability pillars. (cultural, economic, operational, social, environmental, financial, and institutional). This initiative was carried out simultaneously in all business operations of the company across Africa, Nigeria's event is being held at Ikosi-Ketu in Kosofe Local Government Area, Lagos State.

According to him, this year's theme reveals the company's support for the United Nations Framework Convention on Climate Change's goal to stabilize greenhouse gas concentrations in the atmosphere at a level that will curb human-induced interference with the climate system.

The following measures were taken and reinforced:
● The local refinery is aimed at reducing carbon emissions from shipping crude and refined products across the world, alongside a means of reuse and recycling.
● The sugar business now generates steam using bagasse in an optimal way, reducing the use of hydrocarbon-based fuel for steam generation.
● Planting of tree seedlings across all business locations this year, which has been a movement since 2017. He urged all business units to strategize and look into other ways to reduce carbon emissions, joining the train of decarbonization and contributing their quota to Earth's Sustainability.

The Dangote journey also benefited vulnerable groups- Children, widows, and the aged with a total of 250 children and 75 households benefiting from this gesture.

Reference link:
https://www.dangote.com/dangote-sustainability-week-2024-president-ce-opening-remarks/
https://x.com/DangoteGroup/status/1846459387717484963
https://web.facebook.com/watch/?v=2311147219247414

[josson]

DANGOTE STORMS BACK TO THE TOP



After losing the top spot as Africa's richest man to a South African billionaire named Johan Rupert since the year began, the business mogul- Aliko Dangote has found his way back to the peak - his original spot, following the establishment of the Dangote refinery.

Concerned citizens and friends believe his drop in status was facilitated by the depreciation and fluctuation in Naira as well as the construction of the refinery. The Dangote refinery located at the Lekki Free Zone (Ibeju-Lekki) on the outskirts of Lagos, Nigeria, which was said to span nearly 4000 football fields took about 7-11 years to build and was a cost expenditure of 20 billion Dollars.

According to analysts, the refinery has the potential to transform Nigeria's economy by making the country self-reliant on fuel. Backing this fact up is an analysis given by Dangote. This analysis was based on the production of the refinery.

He said the plant will meet 100% of the Nigerian consumption needs of all refined products with a production of 53 million liters of gasoline, 34 million liters of diesel, 10 million liters of kerosene, and 2 million liters of aviation jet per day, with surplus available for exports.

With the construction, completion, and commencement of the operations of the refinery, Dangote now ranks the 65th richest person in the world making him the only African in the world's top 100 richest persons' list and the richest person in Nigeria and Africa.

Reference link:
https://guardian.ng/business-services/dangote-shoots-back-to-africas-richest-man-as-refinery-begins-work
/

[josson]

Dangote Crushes David – A Dramatic Turn of Events!



The Nigerian billionaire - Aliko Dangote has overtaken David Seward, the richest black man in America on the Bloomberg Billionaire Index - the global billionaires' list.

He set this new world record on October 17, 2024, to become the wealthiest man globally as he meteorically moved from 161st to 64th place after earning 24 trillion Naira which is equivalent to $15 billion within hours.

Before now, Dangote was second on the richest black people list after America's David Seward with less than $12 billion. However, thanks to the operations of his refinery, he has been able to make waves just as he had predicted and earned more money in 24 hours than the three wealthiest men on earth - Elon Musk, Mark Zuckerberg, and Jeff Bezos.

Currently, he is not only Africa's richest man but the richest black man. Dangote had foreseen and predicted a whooping sum of $30 billion profit once the refinery reached total production capacity as well as an advantage to the Nigerian economy making the country a net exporter of petroleum products.


Reference link:
https://www.legit.ng/business-economy/money/1620044-dangote-ovetakes-american-billionaire-emergesworlds-richest-black-man-earns-n24trn-hours/