Dangote: I Didn’t Inherit Wealth from My Father

Africa’s wealthiest man, Aliko Dangote, has stated that his fortune was not inherited but built entirely through his own efforts.

In a Bloomberg interview first published on January 8, 2020, and recently trending online, the billionaire businessman reflected on his roots. He revealed that his great-grandfather was considered the richest man in West Africa during the 1940s, while his grandfather also ranked among Nigeria’s most affluent figures.

“The family name is Dantata. That’s from my mother’s side,” Dangote explained.

He noted that although his father enjoyed relative prosperity from business and politics, he made a personal choice not to depend on the wealth that came his way.

“One thing I’m most proud of is that I never inherited money from my father. Everything I have today, I built from nothing. Whatever assets I received from him, I donated to charity a long time ago,” he said.

Dangote shared how his career began by working briefly with his uncle before relocating to Lagos, where he started trading cement.

“It was a small-scale business at first. But cement is the backbone of infrastructure, and Africa faces massive infrastructural gaps,” he remarked.

He pointed out that Nigeria alone has a housing shortfall of about 17,000 units, a challenge also common across the continent. This drove him to invest heavily in cement production, an industry that was largely import-dependent at the time.

“When we started producing cement locally, we saw that most of it was imported, and that created the opportunity,” he added.

ATTENTION: Follow 9jaReporters on Instagram for a chance to win ₦100,000 in our Top Fans Challenge!

JOIN NOW to participate and stand a chance to win exclusive prize ons, free airtime, and exciting gifts!

FOLLOW US TODAY! DON’T MISS OUT!

Today, Dangote Group stands as one of Africa’s largest conglomerates, with more than 15 subsidiaries operating in over 10 countries. Its publicly listed arms include Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc. Beyond these, the group has expanded into oil refining, fertiliser, petrochemicals, steel, transport, logistics, and real estate.