Aliko Dangote

For the eleventh time in a row, Aliko Dangote (b. 1957) has been named the richest man in Africa in 2022, with an estimated net worth of around $13 billion.

He is also the richest black man in the world. The business empire he began to build more than three decades ago, Dangote Group, is one of the largest private-sector employers in Nigeria as well as the most valuable conglomerate in West Africa.

Shortly after graduating from college at 21, Dangote borrowed $3,000 from his uncle to import and sell agricultural commodities in Nigeria, his native country. His business venture quickly became a success, and as a result, he managed to repay the entire loan within three months of starting operations. Ultimately, Dangote was able to turn a local commodities trading business into a multibillion-dollar corporation.

Today, he is one of Africa’s leading industrialists and philanthropists.