The Dark Secret Of Dangote's Wealth
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- čas přidán 2. 01. 2024
- The secret history of Dangote's wealth. Aliko Dangote is so wealthy that his wealth in the first quarter of 2022, was almost the same as the GDP of Senegal. An African country of about 18 million people. In 2023, his wealth is higher than the GDP of 32 African countries. One of his companies, Dangote Cement makes about 10.9 million dollars every day, according to their 2022 annual report. Which means the company makes over 450,000 dollars every hour.
This video discusses his rise to wealth, his ambitious political activities that led to the ban of Ibeto cement, one of his biggest rivals, his investment strategy, and his drive to have a share in Nigeria's oil wealth by building a private refinery.
#dangote #dangoterefinery #nigeria #richestperson #billionaire #oil
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Kudos to Aliko Dangote. He is the biggest employer of labour in Nigeria after the government. May he continue to prosper!
Amen.
Why do we always assume that wealthy Africans have a dark secret, can’t we just be blessed? I believe that this man worked hard, let’s please celebrate our own blessings. May this family rest well 🙏🏽💐
It depends on how you define 'dark secret'.
Dey play
I was about to judge, “What do you mean? He is legit bro!” Then I realized what you did there… Aliko is a tangible man, hardworking and resilient, an image of Nigeria and an example for those to come.
He is a smart and hard-working man, the little I know about him reveals so.
He is a role model for anybody who is interested in business.
Khalifa, thank you for understanding the concept.
Hmmm my dear behind every great man lies a great crime
@user-zp5te6ju6r To some extent, there is truth in this.
No money in this world is legit bro money it.self.is an illegal substance created by the evil system we live in to keep us mentally enslaved and away from.the real.truth
If money was the truth it will save us from hell fire 🔥
But money is actually taking us to hell
God has told us not to love the world because this world is from Satan
There is no such word as legit or clean when it comes to business, yes he is successful & someone to emulate from.
The man who crippled Nigeria economy 😊
How?
We need a thousand more like him! as the African Americans say; It's never a bad thing when a black man makes a bit of money.
Yeah, he is a blessing to Africa.
Yeah, if Nigeria had a thousand greedy businessmen like Dangote, there's no way we'd still be dealing with unemployment.
The man is a hard working man....
Yeah, it is true.
This man is hard working
Yeah, he is one of the best hardworking and smart Nigerians.
One good thing about him is that he understands business.
Wow...... this is massive
Thank you, boss.
I still dey your hand for the thumbnail ooo.
Thx for this update on African business especially Dangote's intensive financial muscle power, but am also grateful for the beautiful subtitles u've provided in this documentary.
Continue bro,much love from the PEARL of AFRICA...🇺🇬🇺🇬🇺🇬....
Thank you so much, Remmy.
Great Video
Thank you, Orlan.
Alikooooooo my guy
Africa we are able. God take care of Nigeria. Let us honour God and take care of Africa being responsible in every way for better.
Lovely documentary, welldone Uche❤🔥
Thank you, Thadds.
I appreciate your kind words.
This is massive by an indigenous African descendant
Thank you, Chanda.
I appreciate.
He's indeed a business genius very pragmatic & strategic regardless...
He is a role model for business-minded individuals. He understands the art of business.
Dangote is a blessing to humanity
Yeah
Bro i love your documentaries. I never knew an my African brothers could make good documentary style videos. How much can you charge to do one?
Thank you, Bro.
What I charge depends on the duration of the video. Videos between 1 to 5 minutes are charged differently from videos above 5 or 10 minutes.
You can reach out to me on ucheolisa02@gmail.com
Epic editing!
Thank you, James.
I appreciate.
You can't be extremely wealthy in nigeria without been political
That's true.
Not even only in Nigeria.
In other parts of the world too.
Ibeto should have manufactured locally
Yes, because producing locally will help the Nigerian economy instead of the bagging he was doing.
Maybe he wanted to play smart and make more profit.
Bro so you just forgot that all solid and liquid resources in Nigeria is the 68 federal govt exclusive list. If you are not given the license by the FG you can't go to mine any Cement anywhere to manufacture locally, and is it Obasanjo that will give him such license when he was clearly in favour of dangote? Stop blaming the victims bro, dangote was also importing and got the license to mine Nigeria resources which Ibeto never had. If Nigeria is restructured today Dangote will loose loose half of his wealth because the monopoly he enjoys will be broken into pieces. 90% of what dangote has was spoon feeded to him by Nigeria govt, just like buhari gave him $3 billion cash to put in building a private Refinery, if fg give you $3 billion dollars today you will enter a maybe the 7th richest African alive.
Bro so you just forgot that all solid and liquid resources in Nigeria is the 68 federal govt exclusive list. If you are not given the license by the FG you can't go to mine any Cement anywhere to manufacture locally, and is it Obasanjo that will give him such license when he was clearly in favour of dangote? Stop blaming the victims bro, dangote was also importing and got the license to mine Nigeria resources which Ibeto never had. If Nigeria is restructured today Dangote will loose loose half of his wealth because the monopoly he enjoys will be broken into pieces. 90% of what dangote has was spoon feeded to him by Nigeria govt, just like buhari gave him $3 billion cash to put in building a private Refinery, if fg give you $3 billion dollars today you will enter a maybe the 7th richest African alive.
What I realized about billionaires is that they risk with their money as if they don't care to be broke again 🇿🇦🇿🇦🇿🇦🤑
Many of them can never be broke again. Except they give out all their money.
No reinvierten la totalidad de su dinero, la riqueza de ellos es enorme pero una gran parte de su fortuna sí, más sin embargo, por reinvertir no quiere decir que no les vaya a sobrar nada, les sobra mucho y si pierden en su nuevo inversión igual pueden vivir sin trabajar más el resto de sus vidas.
Yeah, they have enough to sustain them.
aliko dangote a smart business giant
Yeah, he is very good at what he does.
The weakest point of Africa is failure of Africans to support each other.If Dangote were of s different race,all presentation about him would have been very positive.The day black people will learn to support each other,than presenting a bad picture, Africa will be very successful.
I wonder who is presenting the bad picture of Dangote.
Maybe you couldn't understand what the 'dark secret' tag is doing there.
I wish you do.
There’s no wealth without secrets
Yes. And there is no human without secret.
Well, I haven't seen any dark secret by Dangote as the author of the article would like to portray. From the report, I believe Dangote is a genius in business, he has got the technical nous in businesses he involved in. Any business to survive has to learn how to have an advantage over its competitors. So, I don't see any problem with Dangote using politicians to have a monopoly. It's a two way process. Dangote gave the politicians what they didn't have: the money for campaign. He wanted the monopoly from the politicians or the powers that be. It was a win win situation. Bravo Dangote for his acumen!
Thank you airing your opinion.
That was why the video was created, to create standpoints, so that those on one of the two sides of the argument can learn from the other.
@@Ucheolisa learn from what ? You must be joking na him papa get Nigeria wey dem and Financial institution (CBN and MOF) with subset power group (government & bureaucrat dey run War Economy System.
@Catalyst19909 like I said in the video, apart from any government backup, Dangote understands how to run a business.
That was why I said so.
If there is monopoly on a niche it does not give other people room to grow. He will have the power to raise prices as he wishes.
That's the problem.
In a capitalist system, competition helps reduce price, while monopoly kílls fair pricing.
You aren't recognised enough this is a well produced video
Thank you, Tobey. I appreciate your kind words.
I hope that one day, the recognition will come.
The monopoly helped him while strongly hurting Nigerians.
Buhari went on recovering stolen money spree, and we were happy. But at the end we get more inflation and devaluation of Nigerian currency. Now tunubu had corner dangote . I hope he will not sell Nigeria.
Nigeria is not for sale😄
With regard to Buhari stolen money recovery, the recovered money was even later re-looted.
If his company makes ten million per day, that translates to 3 billion per year. How is still worth only 13 billion? His assets still count towards his wealth. His refinery alone is worth 12 billion.
Thank you, Bekisiphotshili.
His company is not only owned by him, there are thousands of shareholders who take part in sharing the profit every year.
His refinery was built on money borrowed from AFREXIM bank, African Development Banks, and other Nigerian commercial banks. According to him, he spent over $19 billion is building the refinery. So, in years to come, the refinery will be paying back for the loan for some years till the debt is cleared.
@@Ucheolisa Ok. Really! had no idea. I thought it was all him alone...
@bekisiphotshili2566 No, there are thousands of Shareholders contributing their funds for the advancement of Dangote group.
@@UcheolisaAliko Dangote owns 100% of Dangote Group, of which only 3 subsidiaries are listed and publicly-held - Dangote Cement, Dangote Sugar and NASCON. Of those 3 publicly-listed subsidiaries, Aliko Dangote holds almost 88% of Dangote Cement with only 12.3% floated on the stock exchange (initially 20% was free-floated before a company buyback). Similarly, he holds 66.87% of Dangote Sugar and 62.19% of NASCON. These are all publicly-available information on the NGX.
With respect to the Dangote Refinery, Aliko Dangote holds 80% of its shareholding after ceding 20% to the NNPC Limited in exchange for cash and crude supplies. Furthermore, the refinery was NOT entirely financed with loans but rather with 50% each of internally-generated funds and mostly local bank loans (see Bloomberg report: www.bloomberg.com/news/articles/2023-05-22/nigeria-banks-on-dangote-s-refinery-to-cut-a-26-billion-bill).
@@Ucheolisabut Aliko Dangote owns 100% of the Dangote Group (aka Dangote Industries), which is the holding company.
There are only 3 subsidiaries of Dangote Group which are publicly-listed on NGX and thus has other shareholders (both retail and institutional) - Dangote Cement, Dangote Sugar, and NASCON (formerly National Salt Company of Nigeria). Aliko Dangote (through the Dangote Group) owns almost 88% of Dangote Cement, 66.89% of Dangote Sugar, and 62.19% of NASCON (source: NGX). In addition, he owns 80% of the new Dangote Refinery, after being compelled to divest 20% to the NNPC in exchange for cash and crude supplies.
Meanwhile, according to Bloomberg, the Dangote Refinery is financed through a 50-50 combination of internal company funds and (mostly local) bank loans (see www.bloomberg.com/news/articles/2023-05-22/nigeria-banks-on-dangote-s-refinery-to-cut-a-26-billion-bill). For a project of that size and scope, that’s not an extraordinary amount of debt to carry.
He's blessed also.
Yes.
And he is smart and intelligent.
I'am watching frAliko Dangote work hard to earn his money and build his wealth . He provides so many family an income. I wish more wisdom strenght and power to do the goods things in Nigeria and other parts of Africa continent. There is no dark side here. He is a example for the black community to threat people during the labor. God bless to him.
But nobody mentioned 'dark side' in the video.
Why is everyone talking about dark side!
We are our own worst enemies. How is the success of a man a dark secret?
What is dark secret?
No dark side at all,he worked really hard and as the second employer of labour after Government in Nigeria he is doing well. We are happy he's also providing employment not only to Nigerians but qlso to other Africans
I wonder who mentioned about Dangote's 'Dark Side'.
The video is only talking about 'dark secret'.
Dark Secret has nothing to do with "dark side".
The background music volume is too high
Thank you, Simba.
I will have to reduce it in my next video.
You forgot a vital part of his story. His first sugar import was through Alhaji Abdulmalik Suleiman who introduced him to London and Overseas sugar company. Dangote killed the company after helping him succeed in the sugar business 😢😢
😔
I didn't know about this.
If it happened, it is very unfair.
Dangote is legit ...
Such guys should be allowed to have even 100kids ... To drive up the average business intelligence in this capitalist world.😂😂
100 kids?😁
That means our population will explode to 600 million people.
@@Ucheolisa ... If Dangote has 100kids the population would explode to 600million?
Anyway. My point is: The achievers are too busy achieving, and they forget to have enough kids and cate for them and pass on knowledge ...
Meanwhile the strugglers are having 4 or 5 kids each, even more ... Then complain when they can't give their kids a good life ... And so their kids have worse situations than them.
People like Dangote who can should do it.
Wayando, you said that "such guys should be allowed to have 100 kids".
I replied that that means our population will explode to 600 million.
I am surprise that you have to ask me again "if Dangote has 100 kids the population will explode to 600 million"?
What you said in the first comment is 'such guys', and I replied according to 'such guys'.
Do you know how many of 'such guys' we have in Nigeria. They are more than a million of them.
@@Ucheolisa ... They have 1 million Billionaires in Nigeria?
@wayando you are funny😁
Thank you for you time.
It is obvious you like twisting comments.
I once work in Dangote cement as an engineer and i was very vey disappointed with the poor condition of his staffs...i had to leave because i was not happy working there looking at my technicians working tirelessly like slaves with a pie nut salary...alot is happening that i cannot say all here.. another thingvthat baffled me so much is thebincompetence indains slaving our people in our own country and being paid alot of salary
How much was the average salary of an engineer, when you were there..
Everything is fair in love and war. Business is war
I believe so.
How can one person be getting richer in billions of dollars while the human beings supporting you to make it,are suffering? Dark secret to this anomaly, no doubt
It is unfortunate that the workers are receiving poor pay.
How much is the average wage of his employees???
With regard to Nigeria, they are paid monthly on a salary structure. The average salary is about 240k naira. Mathematically, it is about 200 dollars for a month.
That is for engineers and other skilled workers.
But truck drivers in the companies receive salaries of about 90k naira and above, in a month. That is about 75 dollars.
I'm Giving Thanks To Us Might God For DagoteLife
Amen.
19.8b dollars
Which person’s worth?
What the dark side about the black man richest?
Show me a man without a dark side.
Jesus Christ, John the Baptist, Patrice lumumba
Their darkside is unkwon to you. That's why you don't know about it.
He's really rich when the poor people of his tribe get educated with his benefits.
I don't understand.
King Hanavi is Legit 💸💰💴
US QuatroTrillonaire 🇳🇦🎯🙏
King Hanavi of which kingdom?
You can only get rich in Nigeria 🇳🇬 through capitalism
It is obvious.
all i see is a smart and intelligent business man , so i do not understand the purpose of your caption
What's wrong with the caption?
0:38 0:47
He is not legit... CBN should NOT be giving him loans...he also underwrites loans for the country which is why the president always invites him, Tony, Rabin etc .. Even the refinery is currently not functioning
I have heard about his loans from CBN, but I do not have any evidence to talk about it.
all solid and liquid resources in Nigeria is in the 68 federal govt exclusive list. This is the source of dangotes wealth and his fathers money he inherited, If you are not given the license by the FG you cant do anything. If Nigeria is restructured today Dangote will loose half of his wealth because the monopoly he enjoys will be broken into pieces. 90% of what dangote has was spoon feeded to him by Nigeria govt, just like buhari gave him $3 billion cash to put in building a private Refinery, if fg give you $3 billion dollars today you will become maybe the 7th richest African alive.
To be a successful business man/woman, you must be smart and know how to play the game. Government policies can make or mar you it depends on how you play the game. some likes to blame while some would only focus on how to make a way out hopeless situation. No doubt, FG has a hand in Dangote's wealth but he only know how to dine and wine with the devil.
Dangote has proved to be a good strategist. It works for him, not only in Nigeria, but many other African countries.
So where is the dark secret behind Dangote's wealth? Some CZcamsrs are so bad at captioning! 😅
Yeah.
Where did Mswati 111 got wealthy.?He is a billionaire from taxer's money.
As a king, he may have been receiving tributes from his people.
I don't actually know how he got wealthy, but I will look into it and do a video about that if I discover something.
Thank you for bringing this up.
No safety garments provided for his worker's
Do you mean it?
The man worked, works and working to increase his income but time taken by lazy minds to look for dark sides if it was used to better net your livelihoods Africa would be far ahead than any other continent, turn negative energy into positive energy to live profitable lives
Hahahahahaha.
The only problem is that you lost your glasses😁
Nobody mentioned anything about 'dark side'.
Whats dark apa ?
Rupert from RSA is richer than Dangote.
According to which statistics?
The title is misleading
How?
Why compare his wealth to American entertainers? He is a businessman. Nigerians obsessed with Americans.
Nobody is comparing his wealth to anybody. It is just an illustration to tell you how wealthy he is.
The persons mentioned in the illustration are popular, thereby making it easier for those who know them to understand how wealthy Dangote is.
Thanks.
Go and make ur own legit wealth let us see na
Okay.
When I do that I will let you know.
The hate on this man, is similar to the hate another JEALOUS black man has on another.. its your own people sometimes
Chief, you probably do not understand the idea of the video.
Hello Mr Creator well done and God bless you. Ok do some research on dangote and dont compare em with Jayzee , Jordan, and all of that .... We have other Nigeria billionaires and other billionaires tooo . Dangote started with 700 hundred thousand naira Maria gave em thats is mom ........Dangote mom also owns M R S OIL AND GAS ..AGAIN THEY ARR JUST 2 BROTHERS IS ELDR. BRO JUST DIED LAST YEAR ! DANTATA FAMILY AR THE RICHEST IN AFRICA AND HE ALSO DIVORCED IS WIFE DUE TO NOT HAVING HER TIME SETTLED HER ARROUND 2 BILLION ABD HE GOT 2 DAUGHTER , SO AMMEND YOUR VIDEOS FOR IT TO LOOK PERFECT ! KANO STOMACH OF ELEPHANT ANYTHING YOU HAVE THEY HAVE MORE THAN. THATS THE SLANG OF ANY KANO .........NICE VIDS
Thank you, Manana.
I compared him to other billionaires outside Africa so that those who do not know him will understand the magnitude of his wealth.
More so, I am aware of his mother's wealth and his divorce case, but this video is about his wealth and not about his family. The wealth of his great-grandfather was mentioned just to establish a view of how the wealth in his family line was established.
Amending the video to add the things you listed, will overwrite the expected storyline.
The dark side of Dangote he born from Wealthiest family he eve borrowed cash from his uncle worth about $10 billion never return it back,Dangote not Wealthiest man he born from Dantata's family who came from Britain targeted oil and cement in Nigeria shame on Dangote, Patrice Motsepe 🇿🇦💪he is bigger than Dangote, Motsepe never borrowed cash from anyone
Your title is negative and misleading, it will keep people from watching even though your presentation was positive. Title like "Extra ordinary success of an African man" or The pillar of Africa will draw people to watch than the negative title.
What is negative about the title?
To be honest I don't see any dark side as per say 🚶
But the title of the video only has 'dark secret' and not dark side.
What was the dark secret?
The title of the video is just lazy and click bait
Okay.
Noted.
First of all, what I wanted to ask is quiet simple, from your documentary, you talked about the petition against Ibeto, and Dangote's monopoly plot without talking about the other cement brands who were, and still are, in business alongside Dangote in the cement industry? It is not a monopoly if the other brands still play in the same market, thus, this is a distortion of facts to suit a narrative.
Secondly, was Ibeto cement guilty of the trade malpractice it was petitioned for? Without sighting who contributed money to who's election, if the government clamped down on Ibeto based on a petition, then truth is that Ibeto was culpable of such negative practices.
Finally, Dangote got a loan from his uncle to start a business and went on to build an empire from it, right? If you are not in kindergarten, then it may not come to you as a shock that this is how entrepreneurs raise low cost money, the other option is to get it from the bank. There is nothing wrong about this and even if he inherited money from his father, it is a different thing to go on and succeed at this level. He could have simply married many wives and go on a spending spree.
I think the smear campaign against Dangote stems from deep rooted envy that looms in the hearts of minds of those who envy him and his success. You did a good job with the documentary but should have kept it factual, not sentimental.
I wish you were able to deduce that, firstly, the cement monopoly tag came as a result of President Umaru Musa Yar'Adua's response to Dangote's petition. It was the presidency which responded to the petition by that stating that the idea of the petition was 'non-competitive'. Meaning that Dangote wrote the petition to fight competition and gain monopoly.
Secondly, Ibeto was guilty of not producing locally. Yes.
Finally, the idea of getting loan from his uncle was never condemned in the video. It was stated as part of Dangote journey to wealth and shows his wizard style of making so much money from little fund.
More so, I never expected you to think that this is a campaign against Dangote. Don't feel attacked because the video entirely did not base it's narrative on the bad side of Dangote, but tried to a good extent to balance the scale and also talked very well about his good business prowess.
Thank you.
@@Ucheolisa thank you for your candid response and providing clarity. I apologize if I misconstrued your article.
However I will still talk about the issue of monopoly.
Monopoly is defined by the Oxford dictionary as the "exclusive" possession or control of the supply of or trade in a commodity. Dangote didn't and couldn't have had this exclusivity since there were other players in the industry. The faceoff between the Dangote and Ibeto brands however is quiet normal, cos it is a game capitalists play.
Apart from this however, I understand and appreciate your article and once again, apologize for misinterpreting you. Cheers.
@mohammedbenari576 thank you so Mr Benari.
I appreciate your further analysis and your understanding.
This is exactly we create such videos, so that we can get other people's views and school one another.
I appreciate.
"The richest man on earth"?? Do your research
The richest black man on earth.
That's what I said in the video.
Check.
Elon is black from South Africa. Do your research well@@Ucheolisa
Please African need to start praise their people. Stop putting down the hard working business man of this continent. Look at the west and the European
Point out where he was put down.
@@Ucheolisa u shoudn't use the words : the dark secret of Dangote just to have views.
@boubabenjamin5970 what is a dark secret?
How is the richest when Nigeria evil government gave the right to almost every business business in Nigeria?
That was why I made this video, to also talk about those privileges.
For the fact that according to statistics, he is the richest black man. We have to give him that honour.
Click bait?
Maybe you did not understand the topic.
That's why you asked.
@Ucheolisa the title said "the dark secret of Mr. Dangote's wealth".
I didn't see any darkness when I watch the video.
The man is educated, from a family of business minded people into a country with a lot of natural resources. We Africans should learn to give credit where it's deserved. We might not always know everything about why he's so wealthy, but we can agree that he's a hard-working man and educated and a gifted entrepreneur.
Dark secret can never be 'darkness'.
You are biased and envious of Dangote.
How am I biased?
And how can I be envious of the richest man in Africa, are we business competitors?
Whoever that is praising this evil man is wicked and evil.
Our opinions of him, can be different. Many people see him differently.
You better come clear with your bullshit.
Okay, Josiah.
You guys hate Hausa so much that you will lie to every extent, what a shame just because you call your self Biafrans you will spread all lies about dangote the hate is real .
Congratulations.
You are so good at attaching tribalism to everything.
Keep it up.
@@Ucheolisa you are the biggest tribalism people nigeria has ever seen , stop the crap .
Okay, Abbas.
Noted.
Do you have any other 'tribalism thing' to say?
Let me see what the dark side is about.
💚💚💚💜💜💜🪶
I stated it. Including the drive to monopolise cent trade in Nigeria.