Company: Dangote Group
Net worth: $11.2 billion
Compensation: $16, 510*
Billionaire Aliko Dangote is the richest man in Africa, according to Forbes. He is also the founder and CEO of Dangote Group, which owns Nigeria’s largest listed company by market cap — Dangote Cement.
Dangote founded the group in 1977 as a rice, sugar and cement trading company before it grew into a full-scale manufacturing firm and one of Africa’s largest conglomerates. The group now has 13 subsidiaries in sectors like real estate, telecommunications and oil and gas. It operates in 14 African countries and recorded revenue of more than $3 billion in 2010, according to its website.
Known as Africa's "cement king," Dangote consolidated cement interests spread throughout the continent in 2010 under parent company, Dangote Cement, which was then listed on the Nigerian Stock Exchange. In February, Dangote Cement opened a$1 billion manufacturing plantin the southeastern Nigerian state of Ogun, boosting the country’s cement production capacity by more than 40 percent. Earlier this month, Dangote announced plans to list the company on the London Stock Exchange in 2013 and free-float a 20 percent stakein the firm to finance its rapid expansion.
The majority of Dangote’s wealth comes from his stake in Dangote Cement, which is estimated to be at least $9.6 billion, according to Wealth-X. His second biggest asset is his holding in Dangote Group, which is valued at over $450 million. Other big assets include Dangote’s two private jets, valued at $45 million and $9 million respectively.
An avid soccer fan, Dangote made headlines in 2010 after reports surfaced that he wanted to buy a 16 percent stake in U.K. based football club Arsenal. However, the tycoon later said he had decided not to go ahead with the deal.
*2011 emolument from listed firm Dangote Cement.