Friday, 24 May 2013
Cement King: How Aliko Dangote Wangled His Way To Billionaires' List
With his fortune roaring upwards from $2.1 billion to $13.8 billion in the short space of a year, Nigerian entrepreneur Aliko Dangote has bounded up the heights of the Forbes magazine’s billionaire’s list.
In his stupendous rise, Mr. Dangote has elbowed aside talk show hostess Oprah Winfrey, Facebook owner Mike Zuckerberg, and American real estate mogul Donald Trump, among others.
Or as the Forbes chroniclers of the world’s richest people like to point out, he’s now richer than the richest white South Africans – namely Nicky Oppenheimer of Debeers and Johann Rupert of the luxury goods group, Richemont which owns Cartier, Dunhill and other premium brands.
The Kano-born Dangote was a commodity trader, but he obtained his massive wealth during the regime of President Olusegun Obasanjo who encouraged the sell-off of state-owned corporations, presidential aircraft and government properties to Dangote and other questionable businessmen. Essentially, Dangote’s wealth is the equivalent of 7% of Nigeria’s gross domestic product (GDP).
Manipulating his unfettered access to those in the seat of political power in Nigeria, Mr. Dangote seized virtually full possession of the cement market and swept up some of the highest import quotas of all local companies. He also received lavish import and export waivers from the Obasanjo, Yar’adua and now Jonathan regimes.
Mr. Dangote’s style has been to ignore allegations of cement price-fixing, over-inflated IPOs and resale of Broadband licences.
Apart from his generous handouts from various regimes, the 53-year-old Dangote also serves on government boards and operatives within shady political campaign groups that raise unrestricted funds for presidential campaigns and elections.
In 2009, Mr. Dangote was involved in a share manipulation scam involving African Petroleum (AP) Plc, a company owned by Femi Otedola, his alter ego and erstwhile friend. Mr. Otedola accused Dangote of precipitating a sharp drop in the shares of AP in order to erase Mr. Otedola from the Forbes billionaires’ roster.
The ambitious Dangote says he expects his firm to have a market cap of $60 billion within five years. Mr. Dangote is currently on Mr. Goodluck Jonathan's Presidential Campaign Council.
Meanwhile, last year’s billionaire-banker, Mike Adenuga, has fallen to 595th place in the Forbes list.
Mr. Dangote is set to turn a few heads with his brand-new Bombardier Global Express XRS private jet that seats 8. Price tag? A mere $45 million.
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Don't hate just cause u can't do what he does..HATERS! lmao
All of you guys hating on this man and his accomplishments..the next time you want to comment, look at the picture and see what he's doing..then ask yourself whether you're doing the same...keep eating, dangote
U are right my brother...ur
U are right my brother...ur brain is opened u are not like some fools..what a big fraud he is.Dangote D fraudster.
Fools
See fools hail Dangote of frauding the whole Nigerians and some international firms, u claimed he's given ur children jobs...hell no .. i pity U..by the time they are old they will realize how stupid their foolish father sold them so cheap to Dangote so that they can make wealth for him and his generation to come... shameless people.
Aliyu man of d less previledge
Thank u Alh. Aliko Dangote 4 using ur wealth to create employment 4 our children. May God almighty grant u long life to eat the fruit of ur labour. Peanut or not peanut let them say na dem sabi.
I need help
Pls sir i need u help.my parent dnt money 4 my house rent and also 4 my school fees and i am in year 2 now.pls help
Help
Please i am reqesting of mr. Dangote with a little capital to start up a business. Thank you sir.
am happy for him
my name is moses olusola .i made him my role model because he had thought me that hard work and focus is the smooth way to riches.i pray that God shall continue to bless u and gives u longlife ride on aliko
ONLY GOD KNOWS
WHAT EVER A MAN DOE'S OR BUILDS ONLY GOD KNOWS FOR SURE WHAT ROUTE HE TOOK.JESUS WOULD SAY SELL YOUR POSSESIONS AND FOLLOW ME.MR DANGOTE IS BLESSED WITH ABUDANCE OF WEALTH,WHAT PROFIT A MAN TO GAIN THE WHOLE WORLD AND LOSE HIS SOUL.I PRAY THAT HIS TREASURES BE WERE HIS HEART IS,AND THAT IS WITH JESUS. MINISTER ERNEST MITCHELL BLESS HIM
HELP
please i need help i want to request for Dr. aliko dangote help toward my schooling please help me. thanks
Nigeria needs more of
we need more of Dangotes in Nigeria. So many people have stolen the treasury dry before Dangote was born and they have nothing to show nor do anything to help nigeria economy. Let him steal and develop Nigeria as Government seems not to know what to do to develop this great country. Individual development brings about societal development.
Nigeria needs more of
we need more of Dangotes in Nigeria. So many people have stolen the treasury dry before Dangote was born and they have nothing to show nor do anything to help nigeria economy. Let him steal and develop Nigeria as Government seems not to know what to do to develop this great country. Individual development brings about societal development.
Nigeria needs more of Dangotes
we need more of Dangotes in Nigeria. So many people have stolen the treasury dry before Dangote was born and they have nothing to show nor do anything to help nigeria economy. Let him steal and develop Nigeria as Government seems not to know what to do to develop this great country. Individual development brings about societal development.
In a digitalized capitalist
In a digitalized capitalist economy, anything can happen i.e you can become a multi-billionaire in a couple of wise deals. The issue of Dangote should be treated carefully, if we are to expand our view, I can say if MTN Nigeria were to be Dangote, I am sure he will b worth over $20b - yet, in the same country.
The blabbing of a failure.
By what the failure of this discuss have presented, one can understand that some people are stupidly just useless to the Nigerian State. How can this goat call names of the revered Ethnics that makes Nigeria and call them with insults?
If and only if Dangote is in fronting for others, let's wait, the truth shall definitely come. Were we not here when Mubarak of Egypt fell?
He is a Representative of THIEVES
He is just a representative of THIEVES that were in Government and those that are still in power today.are you aware that he is invested massively in Senegal now?
i am very sure of one thing,"one day we will know the truth"
CRITICS check your records
CRITICS check your records Dangote group is paying over 50 billion naira in goverment taxes yearly. and when you talk of waiver, it normal with any country to give waiver to investor, MTN GLO CELTEL and all major oil companies enjoy waiver at certain time in the business life. this guy has in importing ship of goods since SHAGARI regime thats over 30 yrs. Pls things wisely. its the begining of Africans success story just as it use to be for the BRICS
Ride ON!!!
To Mr. Dangote I have one message: Go for it,brother. Don't ever stop doing what you do right.Rather you than some foreigner.
bull shit talk.
Take any idiot from anywhere on Nigerian street, give him or her monopoly of cement, sugar, flour, salt and all general commodities, give him waivers not to pay the right duties and taxes, and let all the crooks in the military give him all the money they stole from government and from oil bunkering and currency exchange frauds and sell national assets to him. He or she can become rich like Aliko. I dont think, Aliko, Adenuga, Otedola and Ovia are billionires, they are merely laudering money for highly place Nigerian ex leaders. They wanna proof themselves, they need to do business in countries where laws are enforced not a banana republic like my country. 13 Billion my Arse.......
There is no business
There is no business you can do in Nigeria that will give you $13B in a year. Nigeria with all its OIL does not make such percentage increase.
These guys are stealing BLIND from NIGERIA...Oh my gawd!
He simply needs to be investigated
I have nothing against him, but you dont jump from $2B to $13 in one year in a poverty ridden country.
I have every reason to believe this guys are stealing blind from the country and the masses..no doubt!
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Good Gawd!
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Nigeria we hail thee!
DANGY, CARRY GO!
AT LEAST HE DOES NOT FLAUNT IT OR BOAST ABOUT IT.
DANGOTE IS BLESSED.
The point is, he does not flaunt it or boast about it.
Dangote, carry go.
DANGOTE: THE NIGERIAN PRIDE
No matter what anybody thinks about Aliko, he is simply superb. Yes, government patronage can make you rich but surely it cannot make you one of the 51 richest people in the world. Unique strategies can. This man is our own pride. Period.
We should be constructive in
We should be constructive in our criticisms. Except for Dangote's involvement in African Petroleum shares manipulations, he is one of the greatest business men around. Pls let's rejoice with him and be focus in our endeavours. Who says we can not make the list in future.....
dangote
A lot of the comments above on dangote's wealth shows a lack of
Understanding of the business world in developing countries. It
Is not an even playing field. Carlos slim, the world richest man
Enjoys the same in mexico, so do the russian billionaires.
However, it takes an entrepreneur to use such opportunity to
Massively grow and create wealth. That is what dangote has done.
Else all businessmen with government connections would have
Established companies and created wealth as well.
This can't be TRUE
You can't work all your life and make $2BN and in the next year you jump to $13BN without others around you jumping also. What business is he in that is so lucrative. He has always been a front for corrupt politicians and others. He was fronting for Charles Taylor when Taylor was in Nigeria. He is destroying Nigeria gradually.
In December 2006 he sold Dangote sugar shares and by April 2007 he was already paying dividend of over 25%. It takes the banks and registrars three to four months just to collate the shares applications and finalize amount of shares awarded each applicant. How could he be paying dividend at that time, when did he invest the money and make profit? Dividend are paid only from profit, and this was a big fraud, that he was paying dividend so early. After that event, Nigerians went crazy for shares. All offers were always oversubscribed. So many people took huge loans to buy shares, as a result of the Dangote effect. Not long after that some banks collapsed because the market was being manipulated, and borrowers could not make profit and could not pay back their loan.
When Bill Gates made billions many others with Microsoft shares also made billions. Why are Dangote share holders not hitting at least one $billion?. It is a scheme. We know who owns Obaja cement he recently established in the south west. If you import shiploads and don't pay duty you will grow rich fast, but with the people's money. He is probably the 12th richest African, if you really count properly. Mubarack is worth $70Bn, and they are Nigerians with more than $14BN. THE TRUTH IS NOT FAR TO SEEK.
$13.8/2=$6.9 Billion. The 6.9
$13.8/2=$6.9 Billion. The 6.9 billion dollars belong to papa Iyabo.
Aliko is good investing his
Aliko is good investing his wealth in Nigeria and empowering Nigerians. Even though he is supported by the government of the day. I got no problems with that so long that these things are happening here in nigeria, so be it.

