Meet The Richest African In The World
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- เผยแพร่เมื่อ 19 มิ.ย. 2024
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Africa is known for being one of the poorest continents in the world. From extreme poverty to lagging development, it's no question that most Africans have a pretty difficult life. However, there are several billionaires in Africa who have defied the odds and built up massive fortunes that even rival western billionaires. One of these billionaires is Aliko Dangote who is not only worth $11.8 billion but also is the richest person in Africa. Aliko didn't start out from scratch though; his family's wealth first originated from Aliko's great grandfather who was Alhassan Dantata. Alhassan Dantata is truly a rags to riches story as he was raised by a slave woman and had to beg for food as a child. However, by the time he passed away, Alhassan had grown to be the richest person in West Africa. His lineage has slowly built upon his success which has allowed Aliko to build massive sugar refineries, cement factories, and potentially even oil refineries. This video explains the stories of Alhassan Dantata and Aliko Dangote and how Aliko Dangote became the richest person in Africa.
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Timestamps:
0:00 - The State Of Africa
0:33 - Alhassan Dantata
2:47 - Breaking Out Of Poverty
4:58 - Generational Wealth
6:14 - Aliko Dangote
7:55 - Billion-Dollar Empire
9:31 - Advancing Nigeria
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To everyone commenting that the richest African is Elon Musk, while this is technically true given that Elon was born and raised in South Africa, I don’t think we can really classify Elon as the richest African. Elon’s entire businesses career is based in America and all of his businesses are American companies. None of his businesses primarily drive their revenue from Africa either. Aliko on the other hand not only built his business in Africa, but the majority of his revenue comes from Africa as well.
I agree with you
Where Musk does his business does not stop him from being African.
Aliko is black and Elon is white. Had Elon been black, he would have been the richest African! In other words, Elon is the richest African!
So do you think it’s more accurate to describe Elon as an African billionaire as opposed to an American billionaire?
I agree and disagree at the same time. Elon is an American citizen and all of his business ventures are based in America but he is still African. I asked Google if Elon was American and the response was that Elon is an American businessman. So Although from South Africa, he's now an American citizen. Elon is nonetheless the richest African to ever emerge from the continent. Maybe the title should be the richest person in Africa?
I live in Kenya and I wouldn't say I'm poor because I was shocked when he said the poverty line is 5 dollar 50.. my entire family of 4 can buy food worth 2 dollars that lasts three days not because we are poor but food here is cheap.. I heard in Australia a avocado can cost like 3 dollars.. my god 3 dollars can buy avocado for the entire neighborhood where I live.. it's not a matter of poverty but a matter of being ripped off lol.. and I'm not trying to say that Africa doesn't have poverty either.. there is poverty but going hungry in Africa is either you live in the desert or you are allergic to most produce. Even the dirty people you see in dirty slums they probably eat more nutrient rich food than most westerners.. don't listen to CNN it's just marketing. What now they can't afford is better housing and to live in better neighborhoods and things like cars and stuff but when it comes to food in Africa only people who live in deserts are starving and these days actually here in Kenya the food problem in turkana has been solved no one is hungry just poor in terms of material.
yea all you guys got nice teeth lol
it's a matter of standard of living and average wealth around. things don't cost the same to produce everywhere
@@zairmorningstarmusicoh Mr White teeth master you your kinds are very rich with no mortgages.
@@zairmorningstarmusic at least they got real teeth, not them porcelain fangs your nana wears. Your mind is too small to comprehend what the man was referring to. Go eat your meds.
Good joke pseudo nationalist.
First built toilets in your country then say we are better than west.
It's great to see Africans finding success in the international world.
i guess u never heard of wakanda...
Wakanda Forever..!
Lol the richest man in history from Africa 🙂
But He sold his commodity locally.
The still ...only from afrika.
Gold diamonds..a lot
Afrika dont need anybody
Nice story of Of Alhassan and Aliko Dankote. The world needs more black businessmen like Aliko.Dangote.
Respect to every hard working Nigerian brother.
What a well researched episode!! @logically answered
Its great to see this man giving back to society
Africa is rich with different cultures and also the richest man lived here but reality always struck , centuries of slavery, poverty, diseases and racism some what lost its prosperity . But there will always people to help from every corner. I respect African and there impact on the history .Love from india 🇮🇳 and love your videos 🙏
Thank you Harihar!
@@LogicallyAnswered you can call arnav this is my father’s account 😂
😅
everywhere has "suffered from all those things and no mansa musa wasn't the richest man ever that's a myth John D. Rockefeller might have been but frankly the real value of what mansa musa had pales in comparison to people like Elon musk and Jeff Bezos so i dont think comparing the supper wealthy of yester year with today makes sense because of this problem.
@@ep5019 moreover mansa musa becoming richest man is none of his credit. He was rich because mali had gold simple
Elon Musk has South African citizenship (he was born in Pretoria) and has a net worth of $162 billion.
Real Africans
@@PrinceZakariyya he was born there.
Be careful, your racism is showing.
True, but Elon didn’t actually make any of his money in Africa.
@@fredbloggs5902 I think she meant Africans who weren't born there as decendants of europeans but idk
@@GalaxyAeterna this
Nigerian here, I love your video keep it up.
Just subscribed
Amazing, thanks for the insight
I will have to say this, Aliko Dangote is not a "lucky man" , He is a very hard working man and was blessed with his wealth, not just a lucky man, please have some respect.
What a inspiring story 😭 love it
God bless that man
Inspirational story. I think there will always be a gap in demand, technological or otherwise, and smart people seeing the opportunity.
And the people who are blind to opportunity will always be left complaining about inequality of wealth.
I believe that if the global wealth would be distributed equally to everyone, and opportunities equalised, most of the currently rich people would go back to being the richer ones and the currently poor would still return to poverty.
it is really hard to make a billion dollars in africa if you don't come from a wealthy family. the system is set against the poor here. look at all the richest people in africa billionaires, most are generational wealth inheritors. but tech is slowly picking up in Africa and i believe the real self made billionaires will come from tech in the next decades.
Aliko Dangote may come from a wealthy family, but He was the one who founded the Dangote group. He didn't inherit it, and he said himself that he just received a 3000 dollars loan from his oncle.
@@megamiam2758 hahaha you said 'just' a 300 dollar loan? 3000 usd in the early. nineties means youre rich. most african cant afford even half of that in the present times. lets just say he comes from a wealthy family but also is smart to know how to handle his businesses
Glad he (the grandfather) made his business using legal ways and not through trading in illegal harmful commodities.
He must be an inspiration for youth in Africa, some sort of hero who rose from nothing.
However investing in oil refineries today seems to be useless when they could invest in renewable energy which would cost lot less and is environmentally friendly.
Funny the way you structure your comment. Are you suggesting African business men only succeed by selling illegal commodities? That's a naive way to think. The only countries with big drug problems are not found in Africa but rather in the western world. Investing in oil refineries is not useless because the world still relies on oil products for many essential goods which green alternatives have not been discovered yet.
It's easy to talk about refineries when you come from countries that have functioning refineries. Africa is severely lacking in infrastructure and building refineries now is big business.
I mean many African billionaires made money legally. Also the oil refinery is actually a better thing for Nigeria considering that Nigeria exports it's oil to be refined then they go on to pay to bring back into the country but with him building it it's way better for the economy but true renewable energy would be better but in a country like Nigeria everyone depends on oil and shifting them to renewable energy would be more money headaches for lots of people with far considerable less than most countries.
@@codebydoh Gosh, it's now impossible to say anything without offending someone.
I didn't mean African businesses succeeds only in illegal trades.
However majority of Africa doesn't have big successful ventures to boost of.
Plus half of the continent is under semi dictatorial regimes funded ny mafias from West and now China.
Oil refineries are useful no doubt, but investing in it to produce fuels and electricity is definitely useless.
@@mwanikimwaniki6801 Probably, because the biggest oil tycoons in my country are shifting to renewables.
I don't understand why African countries have to go with US dollar for variation of poverty. In some African countries a dollar could probably be enough for a day or two. So it kind of inconsiderate to say many Africans live in poverty using the US dollar without a through understanding of what poverty is like in specific African countries. I hope African government do better but the people on the continent need some serious revolution in order for there to be peace and prosperity. I know there are some pretty stable countries on the continent that don't get that much attention.
its still poor. Regardless of it being usd.So its still bad
Elon Musk is South African, just acquired American citizenship. I'm proud of him
& what has he done for the country exactly?
Everything
Great video
Amazing journey!!
Great learning
Hi, there, @LogicallyAnswered👋👋
Very impressed with your analysis. Love from South Africa 🇿🇦
Just a reality check for everyone. A person can pay $100,000 a year to stay off the Forbes list. Once you pay this and stay low key you will never know who is the richest unless someome look up every single company in the world and see who owns what. Then you would have to look up every stock option in the world to see how much a person has. Finally there is land or property. Just a thought when a person is listed as the richest.
This is an amazing history lesson, thankyou 👍
Glad you found it informative Bendy!
@@LogicallyAnswered you did a very poor job... Zero research
@@LogicallyAnswered If there's accurate data, (which I really believe is available). You really should make a couple more videos that involve Africa, one a year ain't bad. I bet am not the only one watching this channel from Africa.
I have met one Dantata and can vouch they are diligent and kind.
providing Nigeria with highspeed Internet had a few kinks -
Great show - Thanks
Thanks for watching!
How is Elon Musk not the richest african?
He is worth almost 200 billion
Not sure, might be because he has a US citizenship?
@@RyanWillis227
How does him getting an american citizenship mean he isnt african though? He was born in africa to an african and a canadian, and lived there for 31 years. Yes he may or may not be american and or canadian depending on ones opinion, but hes most certainly (South) african at the very least
@@Ambigious hey bro I'm not contesting I'm just speculating why someone would think that he isn't
@@RyanWillis227
Yeah yeah no worry
I am just speculating on your speculation
Sorry if it sounded too direct lol
@@Ambigious the truth: because he's a Caucasian. it's just racism.
You should make a video on strive masiyiwa he is from Zimbabwe I think he will be the richest man in Africa in 10 years.he is worth 1.6 billion USD now.he has telecom and payment system company similar to paypal
Because all the richest men in Nigeria, south Africa and Egypt will be sleeping for 10 years straight
@@Biobele time will tell
@@Biobele Lol. These guys don't even know there are richer people than Dangote in Nigeria but hide their wealth to avoid EFCC scrutiny
Thanks.
He the best respect from Trinidad and Tobago 🇹🇹 an Canada 🇨🇦
Amazing and inspirational
hopefully the refinery isn't messed up by the move to EVs, if so then the country must stay with their ICE vehicles, or push for more of their own brands productions.
You know what I always find sad, and an unfortunate product of the lack of development and education that slavery created (and that European colonisers created when they removed all their money-making machinery out of the countries post-emancipation): It’s that as much money as one can make selling the raw materials as they always do in Africa (for e.g. the coco beans), they are not making anything compared to the ones selling the finished product post-manufacturing (e.g. chocolate products) - It’s literally not close.
I can’t wait till Africans start making the finished product (high-quality ones) and refuse to simply trade the raw materials. Then the real wealth would come in since ppl would be forced to buy from them cause no where else has the resources like they do. That’s hard to come by for many reasons I can’t possible encompass under this comment if I intend for it to not be ridiculously long - corrupt, money-hungry politicians is a part of that tho.
I'm a Nigerian, Dangote is pronounced as Dangotay 😅. Great video as always!
Ah shucks, that’s literally how I was pronouncing it at the beginning. But then I looked up Dangote pronunciation, and that’s what the video said haha. Should’ve stuck with my original pronunciation.
th-cam.com/video/ysUkQdvrgp8/w-d-xo.html
nigerian here, Can confirm this.
@@LogicallyAnswered Wow! You even researched for pronunciation. You really are incredible.
I'm a Nigerian and didn't know much details about Alhassan until now.
I hate the fact that you call hard working of an African luck.. 🤔🤔😠😠
Love your content
Thanks man!
Your opening statement about the Zim currency is off We don’t use those anymore man
I’m from Zimbabwe so I should know
Why can't we see each other for who we really are - 'humans' and end this divide of this and that? If only and only we can consciously chose to see ourselves this way, what a world would this be instantly.
GO Africa!!
*Meet The Richest black man In The World*
@@sunniwarrior270 who and who?
@@sunniwarrior270 Mention one, I'll wait.
He's wealth is no surprise his whole family is old man🙌
Why are you saying luck?
It’s hard work and will not luck that statement is disappointing
The reason I said luck is because Aliko did not build his wealth from scratch. Alhassan’s success is basically entirely hard work, but when it comes to Aliko, I think there is a decent amount of luck involved. When you’re born to the richest west African, it’s much easier to take it to the next level and become the richest African.
I guess we forgot about Elon's net worth
White Africans don't count lol. They have it on easy mode globally and with generational wealth
@@monzerfaisal3673 excuses excuses
@@chrisrodriguez3053 ok
@@monzerfaisal3673 sick way to generalise, fundamentally racist
@@RyanWillis227 cool
As a hausa man, your pronunciation of the names in this video is hilarious.
Those trillion dollar bills were last used in 2008 though, give us a break😂
I'm inspired
But still a good video
Great video. ☺️
Thank you Ayan!
Since you're doing Africa, do Ismail Ahmed of Somaliland who recently donated $500 million to his native country.
Can you send the source?
That was an amazing recap of African history. but usually some details are left out, like how he was able to make 10g per month when his business had just started.
He was already rich, his father was a successful businessman.
For those saying Elon is the richest African I don't think that's true. Yes he was born in South Africa but his origins are not African. And so is same for all the non-natives in South Africa. An African is someone who's origin stems from Africa and that is why even black people born in America are called African Americans. Just a clear distinction to make.
Some of you Elon fan boys will say anything or accept anything with Elon's name on it
Well said my man
This is not how it works he was born and raised in south africa which means he is south african ,(there is a difference between race and nationality).
So, you think it’s more accurate to describe Elon as an African billionaire as opposed to an American billionaire?
@@LogicallyAnswered i answerd him because he said elon isn't african even he was born there and his father is a south african himself.
For your question : Elon was born in south africa which is his nationality and he just went to america after he growed up so yes i do ..
Ah I see, in that case, we’ll just have to agree to disagree.
Mansa Musa were the richest man / Mali in Africa and the World. So the title is flawed but still inspiration video.
Damn, that pronunciation of "Dangote" (Dan-go-tay) was way off 😅 great vid regardless!
The man, with help of the Nigerian government took a $3 billion loan to build an oli refinery and managed to sell 20% shares back to the Nigerian government for $2 billion before the refinery could make a dime. Why won’t he be a billionaire? 🥶 💀
Not true,research properly. He borrowed way more, he's a risk taker.
@@princeafriqa6917 I’m just going off what was in the news. Are you his accountant?
I like the videos , but i feel like the comparations on how much money someone is making in different countries can be misleading.
Just because the costs of living most of the times are also different.
You have to see his story properly his influence and business practices
That cement factory is just the typical political kick back dude probably "helped" out a lotta politicians there
We all know most corrupt Nigerian politicians used his company to launder most of their embezzled funds…. That’s how u get a cement factory as charity from said government. Enough of the bullshit. … the fact that he’s heavily investing in fossil fuel refineries in this day and age says a lot .
Im vary motivated after watching this.
Hi
man you made my day really i'm seeing him first time in my life that a person called ALIKO DANGOTE is billion boss in africa
Thanks for watching Santhosh!
@@LogicallyAnswered "your pleasure" keep making videos like this i always support from your behind and may god bless you and peace be on you bro lots of love
I'm late to this but that pronunciation was so off lol
And just to add, here in Nigeria, Dangote is considered a shady figure. Many have accused him of Monopoly by banking on his govt friends and connections. A lot of his products are often considered subs standard compared to other competitors.
For example, there's a famous saying here that Dangote cannot succeed in a sector without help from the Nigerian govt. His venture into juice and noodles notably failed as they were already established players offering better services
His cement is basically unaffordable to the average Nigerian while being cheaper in other African nations
Just saying Dangote is not as beloved here as many people would like to think
What about Elon Musk? He was born in Africa.
He'd grandfather was so amazing man
It's quite fascinating that his grandfather made money selling goods in a country with very less demand at that time instead of exporting and making billions like most asian countries did using the cheap labour.
However I think it's like the ones who set upp shops and hotels in California during the gold rush made more money instead of the ones digging for gold.
His great grandfather did export to Europe though, he made his fortune exporting groundnuts to Europe. Aliko, however, has made his fortune by importing and exporting.
@@LogicallyAnswered Yes.
Zimbabwe just had to be there 💔🇿🇼😅
Imageni
this sounds like a story my grandpa would tell me
Hahaha, I can imagine that
Lol.
Was thinking the same.
Theres lots of African more richest but never claims it a few from Seychelles island we send love and peace ❤
His wealth will probably multiply alot
When Africa is getting more industrialized and modernized
Ah yes, no doubt about it!
What do you mean by lucky African?
Africa to the sky🇺🇬🇺🇬🇺🇬🇺🇬🇺🇬
Not just africa... usd 5.5/day is good money here
The truth Africa is the richest country, but there people behind how Africa it became this way!
I thought it was elon musk or maska musa
It's currently Elon but maska musa is the richest in history
Yea
I guess you could say it’s Elon Musk on a technicality. But other than being born and raised there, none of his money is from Africa. His businesses aren’t primarily based in Africa nor did he live in Africa while growing his businesses.
Ture
@@ccm2059 mansa musa. Hard to grasp how he was the richest.
Dangote is a Monopoly supported by the Nigeria Government that's why he is this rich. His company Dangote Cement Plc controls more than 70% of the Nigeria cement market. Even his other company Dangotr Sugar have been know to drastically increase Sugar price during the Muslim Festive period when demand is usually high which I think is unethical.
Ah I see
@@LogicallyAnswered Bro don't listen it's not a monopoly. How can you call it a monopoly when most investors don't bother to invest in the country. And also there are is a cement company owned by BUA group which is most dominant in the northern side of the country. You should do a video on it's founder also AbdulSamad Rabiu. whats the discord btw
The discord is in the description
@@similoluwaolufowobi9088 @Similoluwa Olufowobi please do some research and you find out why dangote dislikes BUA group, because bua wants to be a competitor to dangote to bring the price of Commodities down like Cement and sugar. Please do some research. I don't have dangote, I actually do like business sense, but I like when people are honest and transparent
@@osaroosayande2666 is he supposed to be in love with his competitor. Bro literally almost no one in the country is trying to invest their money into the country. And he is one of the few that invests deeply in Nigeria. If he doesn’t have any competition then he can toy with the prices bcuz there is not enough people trying to develop the country. Im not saying itz fair to make prices high but itz just the benefit of having next to zero competition
8:39 don’t know why he got the cement factory? “Not sure”? Lol, very pc. Sounds like a bribe to me. I think many wealthy outside the west have similar stories. But the rags to riches little slave boy story was very impressive.
Yeah that could very well be the case. Alhassan’s story though is indeed extremely impressive.
@@ucheHapers Thanks for the explanation. Was wondering.
@@ucheHapers ok, maybe he isn’t corrupt. But my god how can oil refineries and cement factories be inefficient?? Super basic industries. Whichever govt. employee running that, now there’s your corruption then.
@@TheBooban He also tried to buy one of Nigeria's 3 oil refinery but the government refused him and he's now building his own with more than the total capacity of the non working refineries. And now the government is looking for who to buy it's old problematic refineries.
In the world 🌎 but every one ☝️ outside Africa is disqualified from the game. Interesting that he’s Nigerian bcuz Nigeria has the biggest population so if u live in a big country (China America 🇺🇸 India) u have advantage over competitors from smaller countries (smaller market)
It is interesting after watching this video that words used to describe how Mr Dangote made his wealth is "lucky"... that he is a "lucky" African... hmm smh. I wonder if they would describe Elon as "lucky".
1 minute in and you’ll understand the value of generational wealth. Idk if you guys have noticed but a lot of rich people have rich parents and a lot of poor people have poor parents
In India Ratna tata sir is very much respected for donating his most of the income. I got confused at Start 😂
Mr. Dangote, please buy Arsenal already.
You don't want this monopolist to buy your club. He will run it into the ground
@@elijohnson4801 hater! Get a life!!
Why not just "Meet the Richest African"?
It just sounded more impressive I guess haha
His great Grandfather got it out da mud and Aliko brought it to the top
Dangote is not the only billionaire in Nigeria. Nigeria had 7 billionaires
Should Elon technically be the richest African I mean he is South African right?
He would have, but he is not based in Africa. His wealth is not from here. Black billionaires in America are not listed as African billionaires
@@kushope that's different altogether. Elon Musk's father lives in South Africa
No he is not African he is A bore The Afrikaners are Dutch they are not African they do not come from no tribe it cannot trace the bloodline to any tribe in Africa
Being born in South Africa doesn't make him an African. Africa is a Continent and not a country. There is a clear distinction between the two. Yes he is a South African because the country is called south Africa and not a description of the southern part of Africa. If that is your mixup then I hope that clarifies you. An African is someone who's origin comes from Africa hence must be a black person. Any other race living in an African country are not Africans but rather citizens of the country they were born in but originates from the Continent where their race originates from eg Europe, Asia etc.
@@kushope no he won't be an African even if he had his businesses in Africa. He will always be a South African because he was born in the country called South Africa but not because he originates from Africa.
He makes his money off monopoly... Thanks to the government
How, where is your facts
The trillion dollar bills found in Zimbabwe that were banned as currency more than a decade ago? Did you really do your research or you wanted to sound smart?
I know they were banned, but I think it’s still a notable characteristic as it’s one of the most well known facts about Africa.
@@LogicallyAnswered It was early in the morning this side when I saw the video, I might have been a lil cranky. My bad lol
No worries man, thanks for replying! Most people just ignore the reply haha.
from a literal slave to Forbes List *Major Fkn Props
Hahaha for real!
Africans are not slaves and have never been!!
Carribeans and black Americans few centuries ago were
@@32jumper73 africans have been slaves for other africans though after a major war.
That was dangotes grandfather
@@0x0michael talking about his lineage and not him in particular
but building an oil refinery in Nigeria would also make Nigeria more depended on oil exports instead of imports
Isn’t that better?
@@LogicallyAnswered what if other countries suddenly stop importing oil from nigeria? Nigeria wont have enough money, and this will happen sooner or later when more and more countries adopt solar, wind etc.
Germany eg. Has the largest export surplus in the world, which sounds great, it is.., but they rely on exporting and relying on anything isnt good, in germanies case it isnt that big of a problem because they dont build *one* "product" like oil
@@michelbruns you have a very good point here. As the old English saying goes ' Don't put all your eggs in one basket'
@@nelsonchinasamy9857 exactly
It would allow Nigeria to atleast feed the economy. Africa will be slower to transition to clean energy so he'll have a market for atleast a few decades on the african continent. He's biult the refinery with the intention to secure Nigeria's foreign reserves and then serving the African continent first the rest of the world. Should help with industrialization. Whats not mentioned is that as part of the refinery project is i think the largest ureah fertiliser plant in the world. Point im making is his focus is on the country and continent. Anything else is just taking advantage of the opportunity available
🤴🏿POWERFUL MAN… 🌍He’s not lucky he’s just a smart. Business man✊🏾
Yo, half this video talks about his grandfather and not him
Well it's not about him but about the richest man in Africa. 😁
aliko dangote is the most enter penter in the wold
The richest "BLACK MAN" on earth....not richest African 😎
He is... Elon musk is not african!!!
@@kofisam9650 I meant he's both richest African and black man on Earth 🌎
TECHNICALLY the richest African would be Elon Musk.
True
I guess, but basically none of Elon’s wealth actually comes from Africa. His entire business career is in America.
@@LogicallyAnswered American wealth comes from all over the world then. Dangote has foreign wealth as well
@@aberba maybe he means elons not based in Africa
Elon is actually american today, he has been for almost 20 years.
He came from Africa and left quite quickly.
"Africa Unite"
-Bob Marley
Really hard working man but he couldn't have gone half this far without serious government backing
Elon musk is south African
Al Hassan, what a legend
That's true regs to riches story not this thing we see today.
🙄 85% living less than 5.6$. I am from India living less than 2$ a day 😭😭😭
I hope it works for us man. The oil refinery
He is lucky please....
I hate that you think that somebody with amount of wealth is Lucky.