Tuesday, 4 June 2013
Aliko Dangote Is Africa’s First $20 Billion Man
Gistbybit can authoritatively tell all our viewers that 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 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.
Related Posts:
Kris Jenner fires back on Obama’s remarks about Kim Kardashian & Kanye West Kris Jenner had some strong words for President Obama after he took aim at her daughter Kim Kardashian and rapper-boyfriend Kanye West. The president, who has previous decried West as a “jackass” when the rapper famo… Read More
Popularity contest: Genevieve floors Omotola again! For quite sometime now the criteria for measuring popularity,especially among entertainment stars have been all about the social media. And the best way to go these days have been to see who has the highest number of fans o… Read More
Sylvester Stallone brands Bruce Willis ‘greedy and lazy’ as he quits Expendables Sylvester Stallone has apparently described his Expendables co-star Bruce Willis as "greedy and lazy" after negotiations broke down over the Die Hard star's role in the third film in the 80s throwback action series. With so… Read More
Sean Tizzle set to perform at "sweetmusic.com" launch, Ojo get ready to rock ! Sholee crooner Sean Tizzle is set to perform at the launch of "Sweetmusic.com". The event scheduled to take place tomorrow, Friday the 9th of August at Kingstine'Jo located at Ajangbadi, along Alaba road, LAGOS. The … Read More
Lol,,Shark bites man lips as he tried kissing it (photos) Lol how can you kiss a shark? Well, a Diving guide Dave Marcel who had been taking tourists out on Elbow Reef off Key Largo, Florida for years got bitten by a shark after he attempted to kiss it. Marcel would prove their ha… Read More
0 comments:
Post a Comment