⬅ # 117 Diane Hendricks|# 119 Philip Anschutz

# 118 Aliko Dangote 

$16.2B

Real Time Net Worth
as of 4/12/2024
$131.6M (0.81%)

# 118 Aliko Dangote 

$16.2B

Real Time Net Worth
as of 4/12/2024
$131.6M (0.81%)
OccupationCEO, Dangote Group
Source of WealthCement, Sugar
Age67
ResidenceLagos, Nigeria
Marital StatusDivorced
Children3
EducationBS, Al-Azhar University
Age-Adjusted Net Worth$10.1B
Aliko Dangote
Aliko Dangote
Nigeria
Net worth: $16.2B

Self-Made Score 

Wealth History

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Biography

Early and Personal Life

Aliko Dangote was born on April 10, 1957, in Kano, British Nigeria.
He hails from a wealthy Hausa Muslim family, with his parents being Mariya Sanusi Dantata and Mohammed Dangote.
Aliko's early education included attending Sheikh Ali Kumasi Madrasa and later Capital High School in Kano.
In 1978, he graduated from the Government College, Birnin Kudu, and obtained a business studies and administration degree from Al-Azhar University in Cairo.
Dangote has been married twice, first to Zainab Dangote in 1977 and later to Mariya Muhammad Rufai; both marriages ended in divorce.
He is the proud father of three daughters - Halima, Mariya, and Fatimah - and has an adopted son named Abdulrahman.
Dangote is a dedicated entrepreneur who initiated his business journey by founding the Dangote Group in 1977.

Business Career

Founded Dangote Group in 1977 as a small trading firm
Dangote Group evolved into West Africa's largest industrial conglomerate
Diversified business includes Dangote Sugar Refinery, Dangote Cement, and Dangote Flour
Entered the automobile industry with the establishment of Dangote Peugeot Automobiles Nigeria Limited (DPAN)
Commissioned the Dangote Refinery in Lekki, Nigeria, in May 2023, making it Africa's largest refinery

Political Activity

Financed President Olusegun Obasanjo's re-election bid in 2003
Contributed to the National Mosque and Presidential Library under 'Friends of Obasanjo and Atiku'
Served on President Goodluck Jonathan's economic management team in 2011
Considered but declined to run for President of Nigeria in 2019

Other Activities

Philanthropy: Collaborated with the Bill & Melinda Gates Foundation, donated to fight Ebola and Boko Haram insurgency
Football: Promised financial support to the Nigerian national football team and expressed interest in buying Arsenal FC
Lifestyle: Resides in Lagos, owns two private jets, and maintains a disciplined work and exercise routine

How long would it take you to become as rich as Aliko Dangote?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Aliko Dangote's net worth of $16.2B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 36.27% compared to 8.51% for the S&P 500 benchmark.

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Aliko Dangote is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Aliko Dangote, Cement and Sugar are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey