Nigerian Billionaire Aliko Dangote has joined top six world Manufacturers list, this website has learnt.
As of June 2022, Dangote wealth was estimated at net worth of US$20 billion.
Dangote is the founder of Dangote Cement, the in sub-Saharan Africa, in which he holds an 85 per cent stake. He also founded Dangote Fertilizer and Refinery, the World’s largest single train refinery.
The richest man in the manufacturing industry is Reinhold Wuerth, boasting a net worth of $35.3 billion. The second richest man in the manufacturing sector is He Xiangjian, with a net worth of $26.1 billion. Michael Hartono holds the third position, with a net worth of $23.1 billion.
In an interview, Dangote describes manufacturing as one of the potent ways of lifting people out of poverty through the creation of gainful employment.
“It is evident that manufacturing is pivotal to industrialisation. No country in the world has ever industrialised or attained ‘developed nation status’ without having a thriving manufacturing sector,” Dangote said.
According to the billionaire, countries smaller than Nigeria, such as Singapore and South Korea, had an average per capita GDP of 65,233 dollars and 31,846 dollars, respectively, due to their level of industrialisation.
The company next moved into cement production, growing rapidly and moving into other African countries. A high degree of vertical integration is a hallmark of Dangote Group’s operating strategy. The group now owns and operates over 18 subsidiaries, operating in ten African countries.
