Africa’s richest man, Aliko Dangote, has said his real net worth may be far higher than current estimates from global wealth trackers, noting that some of his most valuable companies are privately owned.
During a street interview with James Dumoulin, founder of the School of Hard Knocks platform known for interviewing some of the world’s richest and most influential people, Dangote made the statement.
Responding to a question about his highest annual earnings, Dangote said: “Well, first quarter, we did about $10 billion.”
The Nigerian businessman also questioned the net worth estimates published by Forbes and other global wealth ranking platforms.
When asked about his net worth, Dangote said: “They say I’m worth $38 billion, but most of our businesses are not listed yet.”
“It will come out soon,” the Nigerian industrialist added, suggesting that the full value of his wealth may become more evident once some of his privately held companies are publicly valued.
Forbes currently estimates Dangote’s net worth at $31.6 billion, while the Bloomberg Billionaires Index places it higher at $35.6 billion.
A number of the most valuable assets in Dangote’s business portfolio are not publicly quoted, which contributes to the difficulty in accurately assessing his total wealth.
Although the Dangote Group has subsidiaries listed on the stock exchange, including Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries, many of its major holdings remain privately owned.
