Africa’s wealthiest man, Aliko Dangote, has secured the 9th position on the 2023 list of the world’s richest manufacturing billionaires, according to CEOWorld magazine.
With a net worth of $10.5 billion, Dangote stands as the sole African representative on the list, which is primarily dominated by manufacturing tycoons from Asia and Europe.
Dangote, a 66-year-old billionaire, attributes a significant portion of his success to his maternal grandfather, who instilled a strong business mindset in him from an early age.
He derives a substantial portion of his wealth from his impressive 85.2% majority stake in Dangote Cement, the largest cement producer in sub-Saharan Africa.
The top 10 richest manufacturing billionaires worldwide in 2023, as reported by CEOWorld magazine, include:
- Reinhold Wuerth & family: $25.7 billion
- Michael Hartono: $22.3 billion
- He Xiangjian & family: $21.2 billion
- Takemitsu Takizaki: $18.7 billion
- James Ratcliffe: $18.2 billion
- Goh Cheng Liang: $11.3 billion
- Li Shuirong: $10.9 billion
- Viktor Rashnikov: $10.5 billion
- Aliko Dangote: $10.5 billion
- Anthony Pratt: $9.8 billion
Dangote’s entrepreneurial journey began in the early 1980s when he received a small loan from his uncle.
Since then, he has painstakingly built a vast conglomerate spanning various industries, such as cement, sugar, flour, salt, and more. The Dangote Group’s operations now extend to 10 countries across Africa, covering diverse sectors, including Dangote Cement, Dangote Flour, and Dangote Sugar.
In an online interview, Aliko Dangote emphasized the critical role of manufacturing in alleviating poverty by creating significant employment opportunities. He noted that smaller countries, like Singapore and South Korea, have achieved per capita GDP levels of $65,233 and $31,846, respectively, due to their robust industrialization.
Dangote firmly believes that manufacturing plays a central role in industrialization, serving as the foundation for inclusive economic growth and development.
The billionaire entrepreneur reiterated that no nation has ever achieved developed status without a thriving manufacturing sector.