Airtel

Winlot

Monday, June 3, 2013

Aliko Dangote Is Africa's First $20 Billion Man - Forbes

Dangote has been named Africa's first $20billion man, thus becoming one of the top 25 richest people in the world.

From Forbes
Nigerian billionaire and Africa’s richest man Aliko Dangote has become the first African entrepreneur to lay claim to a $20 billion fortune as the stock value of his largest holding, Dangote Cement, leaped just about three-fourths since March when Forbes released its annual ranking of the world’s richest people.
Aliko Dangote’s 93% stake in the cement company is now worth $19.5 billion. Add this to his controlling stakes in other publicly-listed companies like Dangote Sugar and National Salt Company of Nigeria and his significant shareholdings in other blue-chips like Zenith Bank, UBA Group and Dangote Flour; his extensive real estate portfolio, jets, yachts and current cash position, which includes more than $300 million in recently awarded Dangote Cement dividends, Dangote is now worth more than $20 billion.
Put into context, the Nigerian billionaire is now among the top 25 richest people in the world, richer than Russia’s richest man, Alisher Usmanov, richer than India’s Lakshmi Mittal and running neck and neck with India’s Mukesh Ambani. He is catching up to such Americans as Google’s billionaire founders Larry Page and Sergey Brin.

The unprecedented surge in Dangote Cement’s share price is largely a market response to the company’s impressive 2013 Q1 results.

The cement manufacturer’s unaudited results for the three months ending March 31 showed that the company’s pre-tax profit rose to $339 million, representing an 80.6% increase from last year and a strong indicator of the company’s future earning potential. The results also indicate a 79.5 % rise in its earnings per share over the corresponding period last year.

Explaining the company’s share price boost in an email to Forbes, Carl Franklin, Dangote Cement’s Head of Investor Relations in the U.K said that in the first quarter of 2013, the company had a huge increase in demand across Nigeria, gas supply improved considerably and the capacity was much more ramped up.

“So Q1 was the first sign of just how profitable we can be in Nigeria. The amazing thing is that 66% of our gas-fired production in Q1 was done at 84% gas. Imagine what would happen to margins if we did the same amount at 95%. This has given investors a good sense of what we can really do when everything goes in the right direction,” Franklin said.

With a current market cap of $20.5 billion, Dangote Cement becomes the first Nigerian company to achieve a market capitalization of over $20 billion.

“It’s certainly a landmark for a Nigerian company and we’re proud to be the first to achieve it. Obviously we are focusing on building long-term and sustainable value for shareholders through our investments in Nigeria and Africa. Nigeria is a very entrepreneurial country and I can assure you that other companies will follow us in achieving this.”

Other companies might eventually achieve this, but it’s going to take a bit of time. Dangote Cement currently accounts for more than a quarter of the total market capitalization of the Nigerian Stock Exchange. The second largest company on the Nigerian Stock Exchange (NSE) is currently Nigerian Breweries, West Africa’s largest manufacturer of Alcoholic and non-alcoholic beverages. The company has a market cap of $8.5 billion.

Dangote debuted on the FORBES billionaires list in 2008 with a fortune we pegged at $3.3 billion. His fortune dropped to $2.5 billion in 2009 and plunged further to $2.1 billion in 2010. His fortune surged  557% in 2011 to $13.8 billion after he took Dangote Cement public. He dropped to $11.2 billion in last year’s rankings, but rebounded at $16.1 billion this year. Since March, his fortune has jumped another 30%.

Dangote was destined to shine in business. At age 8, he apparently gave packets of sweets he had made to the house servants to sell for him. His father Mohammed Dangote was a successful businessman and an associate of his maternal uncle Alhaji Sanusi Dantata. Dantata and his brother controlled the trade in kola nuts and livestock conducted by 200 agents. Dangote started building his fortune over three decades ago after taking a loan from Sanusi Dantata. He started trading in commodities like flour, sugar and cement.

He became a billionaire by later manufacturing these items. He started making pasta, salt, sugar and flour in 1997. But he found his gold mine in cement, when he was awarded a government’s state owned cement business in 2000 and began building his own plant in 2003. He listed Dangote Cement in 2010.

Today, it is Africa’s largest cement company providing cement to Nigeria and other African countries that otherwise would likely have to pay to import much of the materials.

Dangote still likely has bigger ambitions. He told Forbes Wealth Editor Luisa Kroll at Davos in 2011 that he expected his firm to have a market cap of $60 billion within five years. At $20.5 billion, Dangote Cement still has a long way to go to live up to that dream, and while it is quite unlikely that Dangote Cement could hit a $60 billion Market Cap by 2016, don’t write it off as ‘impossible’. With Dangote, you never know.

150 comments:

Michael said...

Bia Dangote nwokem. I'm really proud of you and you are making us Nigerians proud. But please word of advice, if your pikin come naija for site seeing, make them use helicopter oooo. Kidnappers plenty as you are their goldmine.

Anonymous said...

Yay I'm first to comment ..... Real comment later ...... Pls click HERE for hot naijagist

Newsbook said...

$20million!!!! KI LO KU?

tai ade said...

oh lord...bless me abundantly ooo dango dango ride on

Ameriestyle said...

Good for him, when he does pratically everything in Nigeria why won't he be?
www.ameriestyle.com

Anonymous said...

Add this to the refineries he is about to build and he will be amongst the first 10. He surely deserves it.

Shyla

★★PRINCE CHARMING™★★ said...

Good things for him!
The rich getting richer, while the poor keep gnashing their teeth in poverty.

Anonymous said...

But the "killer cooking gas" is also his business. Noone's mentioning that! Hhmmm... How is success really measured?

Anonymous said...

Wow!!!

»kruiza« said...

Dangote all d way!!!! Good for him making Nigeria proud. One day y'all will b hearing my name, bigger than Dagote's

↭PRINCE JOBLESS↭ said...

Oh yeah? My dad is half of this man. But we're definitely going up!

odev said...

Will name my 1st son aliko 2 ginger him up

Celebrity lifestyle blogger said...

Na boss. I hail o Baba. One day I'll be on the pages of newspapers for my success and achievements.

Anonymous said...

Way to go Dangote! I wish you many more success!

kazeem rasheed said...

The Almighty God that make a way for u will also show us the good path.....I wish u well

Anonymous said...

The Nigerian businessman I L♥√ ﻉ the most is still Mike Adenuga. He got style.. Thought needs to work ση his weight sha.

oisa said...

I envy his deligence n hardwrk, he is not scared to take risk.Dangote has worked, it is time to reap d fruits of his labour.

omotayo said...

My mentor, meet u @ d top soon

Sam Ekwuribe said...

sorry...who is Aliko Dangote?

Anonymous said...

YAh I really like this man may God bless u dangote kip moving baba God noni u re d best I wish u top ten in d world

Jimi Bajulaiye (Jnr). said...

I never see ...

Mr Koboko said...

And incidentally he's from the poorest region in Nigeria.

Ngwu Festus said...

I hv my reservations. Go and read hw he killed other businesses to run monopoly on all his products. I won't take it from him. We need businesses that will grow up from innovations (facebook, GM, Google.. And d latest, Tesla). But even at dar, congrats, keep providing job opportunities. That's d only way it affects us positively

Anonymous said...

How has he affected Nigerian positively...is he employing jobless nigerian.etc..nonsense news mschewww

OlᵘwᵃDᵅᵐ!lᵒlᵃ said...

Lord! $20billion is a whole lot of money mhan! I jst dey calculate for hia ni sha...Dangote got a sister thinking..I can't even concentrate again sef, sleep no go gree come this night sef as na think I go dey think..
And I know how to fly oo, but I gat no wings yet..
Well, congratu fucking lations mhan!

Anonymous said...

Very impressive!

Anonymous said...

A true success story. I'm inspired by how far and well he has gone.

Anonymous said...

Linda pls ask alh dangote if he wants 2 be my adopted son

Anonymous said...

Hmmmmm! Very impressive...

PRETTY GIRL

Anonymous said...

Incredible!! THE rich gets richer,the poor gets poorer I guess. @samcenafcb

Anonymous said...

I wanto marry his son!

non stoppress said...

I don't envy dis man,but i celebrate n appreciate God in his life. But God mai name must be in d history of d richest in d world too IJN.I tap from his grace...

Anonymous said...

this is beautiful. love dis

Louis Obiora said...

Wow!!! I swear, the amount of wealth amassed by some folks really gets you thinking....*thinking bout where my life is headed :-(

Nanbol Godfrey said...

This is one more reason for us to believe that in Nigeria anything is possible. Nigeria a land of possibility.

annette said...

Abeg come n adopt me ooohhh**

Anonymous said...

Jehovah...please bless my hustle & take me out of this low level. Make me dine with kings In Jesus Name. Oluwasegun

Anonymous said...

Good 4 nigeria

Anonymous said...

Dude's wealth keeps growing, an indication of the growing economic fortunes of nigeria. Someday, me sef go be like am. Amen

Anonymous said...

Loving dis Man!!!! God bless U

Anonymous said...

Linda, see you tatafo readers... Your post is about a man striving to break boundaries in the business world... not one comment almost 2 hrs after. If na who snatch who husband or vibrator yarns, all of them go don full grand. Una all combine be yeye!

Anonymous said...

My friend carry on...invest more in charity and God will bless ur hustle

pipi said...

Abeg linda garri is #500 for paint and even akpu don dey cost nt this story abeg

Anonymous said...

Cool story!!

Olounwa said...

Dis man's achievements na real wa o. Happy for him sha cos na mai turn now to get blessed n elevated like ds.

Anonymous said...

LOOK UP WORLD;this man is the future RICHEST MAN IN THE WORLD:A booming construction industry in Nigeria and across Africa(i hear he is spreading his cement manufacturing tentacles all over the continent),will ensure that.

Anonymous said...

Congrat our very own Aliko Dangote, nothing else feels good better than being the first to do or achieve something, now he's the 1st to make $20Billion in Africa, and I will be 2nd to hit that mark. Keep increasing your worth soon. we'll dine together. *ThatFunctionGuy*

Anonymous said...

abuse of monopoly is truly rewarding,i envy u sir.

Anonymous said...

Issorait....and my dad will say he was the most brilliant in his class then*eyes rolling*

Anonymous said...

Linda the story is too long abge ..... Happy for him sha

Anonymous said...

When you give a company/man monopoly for the importation of various essential commodities, this is the result...kudos to him I guess, but in civilized climes this would be impossible, in the least, the market will be open, fair, and competitive enough to have more than a handful of "Dangotes"

johnnie said...

Richiest in africa,good for u and your family.Another government would come someday and things might change.

Anonymous said...

and Lagos alone is not even fully constructed,sir what will happen if the whole country gets first world infrastructure.U should really thank your maker for giving you this opportunity and calling

Anonymous said...

What was he doing when his mates are busy being the richest man on earth....smh 4 aliko dangote

mubarak G said...

Hmmmmm my lips ar sealed.!!! Bravoooo man. Hustle do pay. My aluta stil in progress

Tee's Talking said...

Good for him. He should donate to a cause other than PDP Hq and super eagles.

Anonymous said...

wow....very inspiring.

Ace Bentley said...

Way to go Dan.... I wanna be like you or even better...

Anonymous said...

This man is a Hero I like him he gat a Gud potential more to come thank God Naija is making it to d top at least he wasn't into politics b4 he makes his billion not like those that think they can't make it without gng into politics go ooo dangote God is wit u

missy said...

Uncle Dee!my swit uncle,I love u n I'm so proud of u!!lolz

Anonymous said...

He's. Business Icon wit a humble start, d Type we look Up to. Not d kinda wealth dis idiots parade dt we dnt knw ow they made...GGMUB too...
He can actually acheive d 60 billion mark if dangote cement continues to grow at d rate it did in 2011...

likita said...

Point of correction...$20billion not million!...lol.

Anonymous said...

Wow ..this is amazing.Hardwork pays.Thank God we have someone like Dangote in this country.

cara milano!!! said...

Smh. D level Ur childishness amazes me all d time. U need 2 grow son!

cara milano!!! said...

Iz dis a notice me question or ur truly dead?

Manymen said...

My mentor he whom I'm well pleased. God bless you sir. Work and pray.

Ponani Posh said...

Kill yourself

KayDiaries said...

Lol@ Odev, to ginger him up ke, heheheheehe, goodluck to u.

Anonymous said...

Anuofia! Negodi okoko o! First to comment na be nnagi ki bu inugo? Umuazi ama kwana ndi okeyen ya nufe na dis blog...

Anonymous said...

Really so u think facebook n google didn't kill other pple's dream? Pls go n do ur research. This is someone that stopped importion and started local production. Thereby providing job oportunities and encouraging Nigeria made goods. Please wat have u done? Mtchewwww stop getting jealous over someone's success instead use it as an inspiration to do better things with your life.

Anonymous said...

Hahah. Half of which man? You so wish! He is not even up to one of his toes! This boy brain na correct titus fish brain oh.

Anonymous said...

You must be below 18 yrs. Lol. Type this same question on google search and read up whatever it shows.

Anonymous said...

You'll only be gingering him up to be good at alingo

Anonymous said...

LOL...All parents were the most brilliant...they all dey carry first....after walking 50 miles to and from the stream to fetch water..

Anonymous said...

Wowowo aboki mallam we are always toping the table every where heeehehe hausa aboki

Anonymous said...

LOL funny

Anonymous said...

Y did pple keep saying the rich getting richer and d poor getting poorer??let d poor also work vry hard and get rich..afta all, dangote was also poor!!! Am proud of U Dangote...linda u hv neva post ma comment,oya post did one!!!

Anonymous said...

Only half? Then he should not be mentioned in the same book as dangote.

Please stop embarrassing your dad.

Anonymous said...

Since you have Internet to browse through linda ikeji for sure you have Internet to ask google all your questions without appearing totally lost.

Anonymous said...

Dumbo! Is he doing all the work in his factories himself??????? Read, tap some blessings and move the fuck on. Don't show your stupidity through hatred.

BLOGLORD said...

Biggest Boy!

Anonymous said...

Congratulations Sir

Anonymous said...

Gold digger alert!

Dante said...

I remember our days in secondary school, even though Dangote was stubborn, I knew he would be a great man,not surprised, meanwhile am I first to comment?

Doc Bee 046 said...

Yea right! From sitting idly and commenting on a blogger's billionaires forbes copy and paste? Sure .

Anonymous said...

That's the bad side of capitalism.

Anonymous said...

Abeg leave Jesus out of this biko. Look at the facts; biz is in his blood and he started early.

Anonymous said...

Money is a helper but does not give peace so watch what you say.

Anonymous said...

Instead of charity he and his friend should invest more thereby creating more jobs.

Anonymous said...

I celebrtate ur duccess akiko dangote.shortly my name shall ring bell too.

Anonymous said...

Kudos to the President and his Governors for creating good roads where his trailers ply.

VOICE said...

Hmmm good for him but why do we have the richest men in africa from Nigeria yet people suffer cos of poverty,why do we have the best economist yet the economy is going down the drain,why do we have a lot of men and women wit a lot of degrees,national awards etc yet we see no impact from dem in our society.......Nigerians shine your eyes and be your own Nigeria cos I see no reason why people should own billions of dollars and yet we can't have steady power supply,good roads,water,shelter,jobs,security etc. Shame on them and permit me to say dis linda, MIDDLE FINGER to dem....muthafuckaz!

Anonymous said...

Cara thank you for letting prince jobless know that he needs to grow up SMH for him*tongue out*

Anonymous said...

Cara thank you for letting prince jobless to know that he needs to grow up SMH for u pj *tongue out*

Anonymous said...

Hey God dnt 4gt me too, dangote I salute .

Anonymous said...

Hey God dnt 4gt me too, dangote I salute .

safiu muhammed said...

Linda pls pls nd pls, leave my rich dad alone... Must u always write stuff about our money ahhh!

safiu muhammed said...

Linda pls pls nd pls leave my rich dad alone, stop writting stufs about our money,.

Anonymous said...

Dear aliko, my mum said u are my father. I can prove it, not by DNA but we have d same bright future. Like father like daughter. Ok if u dnt want to be my father. Can u just from the depth of ur heart sing kcee's LIMPOPO for me ? And mean it when u sing it. That's all I ask of u. But I'm very sure that I'm ur daughter. Our smiles r same. U like money as much as I do. PNNI.

Alloy Chikezie said...

20 billion, 60 billion, wow!!! That's a whole lot, congratulations to him and also to the dangote group of companies wish them more success

Anonymous said...

Not hatin, but please hw many cement company's in nigeria r makin as much money as dangote? Lafarge cement is abt shuttin down for lack of patronage. So many oda cement factories av encountered probs or av bin shut down cos d nigerian politics favors dangote cement more dan d odas n competitors av bin suppressd. So y wont he end up makin so much MONEY? #jus tinkin aloud sha

Anonymous said...

Like Rockefeller

Anonymous said...

Na you know. Right now we are talking about Aliko Dangote who happens to be one of the 25 richest men on planet earth not Mike Adenuga. When its Mike's turn we shall equally be happy for him.

DARIUS said...

Kazeem, almighty God did not make his way. Dangote has been a govt man through and through. He enjoyed govt patronage all his life and I guess having your kinsman in the seat of power doesn't hurt either. Lemme ask you a question. If you were given license as the sole importer of sugar and salt for the whole country, won't you be a billionaire by now?
There's nothing spectacular about Dangotes wealth. He is a govt contractor. Let it not suuprise you if govt awards him an oil bloc tomorrow ok? Na dem dem.
God has nothing to do with it.

Anonymous said...

You will never know him until you leave that your unheard of village and come into Nigeria then maybe if you are intelligent enof den you will know who dangote is.

Anonymous said...

U may compare Dangote and Adenuga when it comes to our money made them. Obasabjo gave Dangote monopoly of everything, and Adenuga fronts for Babangida and Atiku, helping them to wash their dirty loots. But u can gv it to them that instead of abandoning these monies in Swiss banks, they multiplied them and created employment. Unlike other looters.

Anonymous said...

Hahahahahahaha!

Anonymous said...

after depriving his staff of good pay,God will surely judge

Anonymous said...

Uncle Dan,more upliftment in Jesus name.Thanks for putting Naija in d Map and for making Africa proud.though we don't see nor smell any bit of this moni but we wish u more in abundance.ProudlyNaija.

Anonymous said...

Oh so who is he employing then? Or u think he is doing all the work on his own? Dumb ass.

Anonymous said...

hmmmm d richest man in africa is 4rm northern nigeria, wat has he done 2 help all dos almajiris roamin d streets of hausaland? We can easily put it as thus: the richest man and d poorest man in africa are all hausas

Anonymous said...

It was indeed a feat. It's high time you started giving back to the society sir. You wont take all that money with you to heaven when you are old and gone, but your legacies will always be etched in the heart of people you helped. Congrats.

Soft Money said...

I rejoice with Aliko...As i rejoice with him may God turn my life like he did to Aliko Dangote...My dad's boss keep the good work going...

Soft

Anonymous said...

I wonder if he pays any taxes....anyhoo, his wealth has nothing to do with most of us so, I do not care.

Apple said...

But he is GAY..

Oyinkan said...

Nigerians have terrible values. Being rich in and of itself does not make one worthy of respect. This man cannot be compared to the likes of Bill Gates, Mark Zukerberg, or the Walton family. He is not an innovator or a shrewd business man, he is just connected enough to the likes of men like Olusegun Obasanjo who can squash his competition.

If you are the only person selling a product, then of course your sales will be #1. I don't find that impressive or admirable. Its actually quite disspointing that Nigeria's entire economy is controlled by a handful of elite, greedy, old men. I don't see how this brings the country closer to development.

Anonymous said...

Lol......... This is serious

martha essien said...

If only this man would sing that Kcee's limpopo song especially this line *let me be ur maga* with his whole heart..

C J C said...

Fellow Nigerians, that's our money o.. The thieves we have in govt siphon public funds and pump into this mans business.

CJ

Anonymous said...

Hmmm, Thats a good one for dangote, But for me i dont think he has done enough for nigerians. He wealth revolves round him alone, How much sre his workers receieving as salary? that is a question he needs to answer, He many people have lost their lives to Trucks belonging to DANGOTE? He virtually fights other investor in the country with his wealth and with support from above. Other rich business men and women in the world supports their nations in various ways, but what has dangote done as charity to Nigerians. I wish him well oooo, but his wealth is for him alone.........

Thomas Akohn said...

The guy is a thief.

Akeju Damilola said...

Funny

Anonymous said...

NIGER AREA!!!!!Where the rich is getting richer and the poor is getting poorer

Anonymous said...

When you have a total control of certain market though protectionism, what do you expect, I think the media are shying away from the fact that this man is controlling the whole market for essential commodities, the common people are made to pay high price for cement because Dangote. I see him as exploiter and greedy bastard .

faith uyai okon said...

Well is not the amount of money you own, its the amount of life you affect positively in your lifetime that matter, how many low life have you help and your bag of cement is of higher price a poor man can't buy to build a house. I thank God for you but you should thank God by helping otherS more with your billions of dollars.

Anonymous said...

E made is money from the nigerian wealth wich was squanderd by dis so cald naija politicians, dat is d cos of his rapid increase in wealth

Anonymous said...

Blood money..ogwu ego.....THE DON

faith uyai okon said...

Well is not the amount of money you own, its the amount of life you affect positively in your lifetime that matter, how many low life have you help and your bag of cement is of higher price a poor man can't buy to build a house. I thank God for you but you should thank God by helping otherS more with your billions of dollars.

Anonymous said...

He is dis rich yet he does not pay his staffs well... Wat do u call dat? Just saying

Anonymous said...

Linda, it is great to celebrate his $20 billion net worth and his great achievement. It is also important to point out that Aliko Dangote's approach to business is ruthless and heartless. He receives payment in advance for the cement he produces and yet owes contractors and supplier for upward of 6 months, thereby crumbling a lot of small businesses. You may fact-check the above assertion.

Make hin dey try pay hin contractors and supplier as stipulated within the stipulated timeline in their contracts and LPOs, then I go hail am!

Anonymous said...

That's exactly what I'm saying. If girls can effectively use Juju to trap a man for marriage, Dangote will have a million wives. #just thinking out loud#

Anonymous said...

in this same country where children go to school without food

Anonymous said...

Hv u ever heard dangote mutter a word against our successive, criminal, leaders? No. Why? Bcos, he helps wash their loot. The highest of it all was OBJ regime. He literally handed the country's commerce to dangote. He should be the richest man in the world by now. Comparing him with the likes of bill gate who started from the scratch and built their empire does not do justice to it at all.

Anonymous said...

Hahahahahaha, i dey laugh at gingering him to be good at alingo.

Anonymous said...

LORD bless my hustle, am taping into this man(dangote) grace; IJN... Amen

Wilsoniyke said...

Who has asked how he started?I reserve my comment!!!

Anonymous said...

I don't care about such riches. You have such money and people living around you are wallowing in penury, does that make sense. He can own the whole world for all I care.

Annonymous

Anonymous said...

I don't care about such riches. You have such money and people living around you are wallowing in penury, does that make sense. He can own the whole world for all I care.

Annonymous

john bay said...

YOU CALL MALO....BUT A MALO IS THE RICHEST BLACK MAN IN WORLD....KEEP THINKING WE CAN ONLY CHASE COWS....NA YOU SABI OHH....MUJE DAN ALAJJI!!!!!

Anonymous said...

U are a mad person. Fool!

Eze Chukwumereze said...

I heard he drives himself, although dont know whether its in a bullet proof SUV like Mike.

Anonymous said...

Mike adenuga made his money thru govt contracts so no biggie.... We however thank for ploughing it back into the system unlike fools like lucky igbenedion n co

Anonymous said...

Dangote was never poor..... Get Ur facts before u type, thank me later

Anonymous said...

Dangote is a shrewd business man who has worked hard since he was a young boy however his wealth has been fuelled by govt contracts and monopoly of the market..... So for me am not impressed cos anyoNe who has the same monopoly coa of supper from govt can also be rich

efosa oronsaye said...

The is the price you get when you are diligent in your endeavor...You will not only stand before kings and queens but you would also be made one.

cordelia John said...

Dat's true Darius,he has too much oga at d top

cordelia John said...

Dat's true Darius,he has too much oga at d top

Kass Babs said...

Chai!!! Adisa Olasunkanmi Aluko Dangote..... My father's father brother's brother son.... Continue to grow.... God help me too

Anonymous said...

Adenuga came into telecoms and made it affordable. Now almost everybody can afford a GSM line and we know how this has affected our lives. Which business has Dangote helped to reduce the price and make it affordable to the common man? He even used his govt connection to cripple Ibeto Cement so he can continue to feed fat on the monopoly.

Anonymous said...

Dangote has done well 4 himself