#72

Aliko Dangote

Source of wealth: Cement, sugar

69 years Male Manufacturing 🇳🇬 NG

Net Worth

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Earnings per second

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Biography

Aliko Dangote, Africa's richest person, founded and chairs Dangote Cement, the continent's largest cement producer.

He owns 85% of publicly-traded Dangote Cement through a holding company.

Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.

After many years in development, Dangote's fertilizer plant in Nigeria began operations in March 2022.

Dangote Refinery, which began construction in 2016, began its refining operations in early 2024.

Perspective on their fortune

Gold

Everyday luxury

A Aliko Dangote's fortune is equivalent to 215 of gold, but this may be difficult to value, as we don't usually have a handful of gold bars in our piggy bank.

A standard gold ring typically weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18k gold.

Based on today's gold price (not taking into account the jeweler's fee, shipping, or anything else), that gold ring would be worth $556.3

Aliko Dangote could buy 57,424,215 gold rings. That's a lot of fingers and a lot of gifts!!

And if the number of rings is difficult to visualize, all these rings would need 10 trucks to transport them, But we can be almost certain that Aliko Dangote will have enough left over to pay for the gas for those trucks.

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While billions of people struggle to access basic healthcare, education, and research, a single individual could fund entire national systems for centuries.

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Health

The price of life

Let's compare Aliko Dangote's fortune with the healthcare spending of a huge country

Aliko Dangote could fund the entire healthcare system of DR Congo with a population of over 105,800,000 of inhabitants for approximately 14.4 years.

But even if we compare their fortune to that of a rich country

At the other extreme, Aliko Dangote could cover the health expenditure of Luxembourg, considered the world's most heavily invested health system, for 6.4 years

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Education

Buying the future

Lowest education spending

Aliko Dangote could assume the entire cost of the education system of Nigeria, the most populous country in Africa, with more than 243,000,000 inhabitants for 9.4 years.

Highest education spending

But not only could he assume the cost of a poor country, Luxembourg is considered the country with the highest per capita investment in education in the world, Aliko Dangote could pay for it in full for 12.8 years.

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Research

The monopoly of progress

Lowest research spending

Aliko Dangote could fully fund the state research budget of Pakistan, the fifth most populous country in the world with more than 260,000,000 of inhabitants, for 53.8 years.

Highest research spending

But even if we compare the total wealth of Aliko Dangote with Israel, the country that currently invests the most per capita in research in the world, it could assume the total cost of the system for 1.2 years.