How Africa’s Richest Man, Aliko Dangote Spends His Billions
Hello Displorers, welcome to another informative video presented to you by Displore and thanks for watching. In this video, we shall examine how Africa’s richest man Aliko Dangote spends his billions. Aliko Dangote is a Nigerian billionaire businessman, who is the founder, chairman, and CEO of Dangote Group, an industrial conglomerate in Africa. As of 2020 his net worth fluctuates between 8 to 10 billion dollars making him the richest man in Africa a position he has been occupying for a long time. He therefore is a member of the elite group of people who only fly private, Cruz on yachts and live the sky-high life. But then, some members of this elite club of billionaires tend to live not the kind of life many expect them to live and, in this video, we shall examine how Africa’s number one spends his billions .
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For more information on Aliko Dangote, we have a dedicated video on this channel on How Aliko Dangote became the richest black man in the world. Do well to check it out by clicking the card above. So Without any further delays, here is how Africa’s richest man Aliko Dangote spends his billions.
Aliko Dangote is known for his numerous business ventures which have been mostly successful over the years. Therefore, the businessman spends his money investing in Africa and around the world. He owns the largest sugar refinery in Africa and the third largest in the world, producing 800,000 tonnes of sugar annually. Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta and fertiliser. He also spends on investments in real estate, banking, transport, textiles, oil, and gas. His company employs more than 11,000 people and is the largest industrial conglomerate in West Africa. Dangote has diversified into telecommunications and has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. In explaining his passion for investment especially in Nigeria he said, “Let me tell you this and I want to really emphasise it, nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work,”. Dangote is currently working on one of his greatest investment projects yet to come, a $14billion oil refinery which will be the biggest in Africa and also one of the biggest in the world. The business man is also talking of buying the English football team Arsenal, his favourite football team but that can only be possible after he complete his oil refinery project Dangote said to David Ro During an Interview.Dangote has made it a point to invest not only invest in Nigeria but also in other African countries as well as continents. He has investments in Benin, Tanzania, Cameroon, Ghana, South Africa, Ethiopia and Zambia. In 2017, he said he is investing $20billion and $50billion in the United States and Europe by 2025 in renewable energy and petrochemicals by partnering with companies in US, Europe and if possible, Asia and Mexico.Well given the kind of money he makes it is only fair that he spreads his wings as far as they can go.
Africa’s richest man has a soft heart for the less privileged ones in the world and he disburses a good deal of time, resources and care into charity works. “I am going to try my best and give part of that money to charity. I am working hard on it… I think from this year, I personally want to take philanthropy very seriously.,” Dangote said in 2014 and reiterated in a recent interview . He did not only take charity seriously as he started a foundation to care for the less privileged and to offer a hand in cases which call for it. “I do not only want to be known as Africa’s richest man but the biggest philanthropist. I will continue to use my resources and my voice to help shape a better Nigeria, and Africa as a whole,” the businessman says. As a result of his efforts, Aliko Dangote started the Aliko Dangote Foundation which is the private charitable foundation of the billionaire that works with state and national governments and many highly reputable international and domestic charities, non-governmental organisations and international agencies to advance its humanitarian agenda. He did not only end there as he went further to have the Dangote Foundation which is a Corporate Social Responsibility arm of Dangote Group. The Foundation is responsible for contributing over $100 million in charitable funds to several causes in Nigeria and Africa over the years with the president of the foundation as Alhaji Aliko Dangote himself. In 2012, the Bill and Melinda Gates Foundation announced that it had entered into a strategic partnership with the