“I could become the fifth richest man in the world” says Aliko Dangote as he plans London Stock Exchange listing

Africa’s richest man, Aliko Dangote predicts that he could be the fifth richest man in the world if his business plans align well including his plans to list his $11bn cement business on the London Stock Exchange next year.

In an interview with the Financial Times, the African billionaire was prodded if he envisioned himself becoming the world’s richest man. “Why not?” he responded. “Of course it’s possible. We will talk about this in five years.”

“We want to list in London next year,” he said in an interview in Lagos. “By then the upside to our business will be much bigger than today.”

In 2011, Dangote Cement had an expected net profit of about $790 and revenues of about $1.5 billion.

Dangote is currently worth about $12bn according to Forbes and his plan is to quadruple his profits in the next four years and build his business to become the world’s most profitable cement company.

Mr. Dangote will be teaming up with investment banks, Morgan Stanley and JPMorgan as co-leads for his London share issue and plans to give up his current role as Chairman.

“My plan is to have different faces [on the board],” he said. “The face of the chairman will not be Aliko Dangote, it will be somebody else, a professional who is well-respected within investment circles.”

With such plans for global domination, the sky appears to only be the beginning for Dangote Group.

Read more stories on Aliko Dangote, Africa’s richest man on CP-Africa:

Forbes 2012 List of African Billionaires

Forbes: The 40 Richest People in Africa

Video: MTV Base Meets Aliko Dangote

Post Author: CPAfrica.com

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13 thoughts on ““I could become the fifth richest man in the world” says Aliko Dangote as he plans London Stock Exchange listing

  • Cynth

    (April 1, 2012 - 9:51 pm)

    This man is so inspiring. Show the world that an African man can be the richest man in the world no be only Bill Gates! Lol

  • chima

    (April 1, 2012 - 9:53 pm)

    So life is all about making money?

    • Tom

      (April 1, 2012 - 9:56 pm)

      Life is not all about money but this is his chosen path so let him be! You, what have you achieved all this while you have lived on this earth?

      Typical Naija Pull Him Down Syndrome

  • ada

    (April 1, 2012 - 10:09 pm)

    This man has not done anything to help Nigerians. He should go and sit down

    • Shina

      (April 2, 2012 - 7:39 am)

      True … the idiot is competing with big companies and individuals that has developed their own countries. African mentality, we are happy that his rich and representing Africa but he should help bring up the poor people also.

  • Vic

    (April 1, 2012 - 11:38 pm)

    @ ada, he is not God nor a politician… so cut him some slack, @least without him some nigerians wouldnt hav a job to b able to feed themself or family & his biz is surely of benefit to most engineers & builders in d country so b glad 4 him jor

    • ada

      (April 1, 2012 - 11:53 pm)

      Nigerians forget to easily and this is what holds us back as a country! Is this not the same Aliko Dangote and his NSE games! I hope he does not plan to take his corrupt ways to the London Stock Exchange as he will surely be locked up like his friend Ibori. We all know he is as corrupt as our leaders and that is the secret of his wealth. Who is he fooling!

  • ELIAS

    (April 2, 2012 - 3:41 am)

    I'm coming after him…but he should put Nigeria to heart and make Nigeria among the most developed and Richest country and not himself alone.

  • Sanni Baba

    (April 2, 2012 - 9:31 am)

    Yes! Sir Aliko Dangote shall even become World Richest! INSHA-ALLHAHU! Amin! SUCCESS! Sir!

  • Adisa Yaw

    (April 2, 2012 - 12:19 pm)

    @ Ada wat r u talkin about?which game did he play wit NSE.if u don’t hv fact u beta keep ur mouth shut.apart frm Govt,Dangote is the highest employer of labour.wat else do u want frm him?is Dangote ur Governor or Commisioner?is Dangote ur president?is it Dangote’s fault dat we hv Bad leaders?is it Dangote dat wil fix power,roads e.t.c.At least most of his investment is in Nigeria,pple r benefiting.if all our greedy politicians r investing our stolen money in Nigeria,Unemployment Rate wil Reduce.If we have lik 20 Dangote’s in Nigeria tins will improve.longlive Aluko Dangote

    • Bishop

      (April 3, 2012 - 12:15 am)

      Dangote is really a great man of integrity, philanthropist, generous and a man of principle & intelligent who invested 90% of his business here in Nigeria to help reduced unemployment rates and spent over $2.5 billion for Nigeria flourdering economy including d finnacial assistance rendered during d floods time in some states in Nigeria. This has shown his good character, compassionate spirit and selfless selfish rendered to help improves lifes and safeguards his country of birth economically in Nigeria, more grease to your elbows, forward ever and back never. U’ll still d world richest man by d grace of God

    • Bishop

      (April 3, 2012 - 12:18 am)

      Dangote is really a great man of integrity, philanthropist, generous and a man of principle & intelligent who invested 90% of his business here in Nigeria to help reduced unemployment rates and spent over $2.5 billion for Nigeria flourdering economy including d finnacial assistance rendered during d floods time in some states in Nigeria. This has shown his good character, compassionate spirit and selfless service rendered to help improves lifes and safeguards his country of birth economically, more grease to your elbows, forward ever and back never. U’ll still d world richest man by d grace of God

  • Teejay

    (April 17, 2012 - 9:51 pm)

    I’m so happy som people av spoken ma mind,nigerians just talk anyhow,I do not blame U,its d corruption mentality u r carrying;di man has his factories in d country where thousands are being employed,unlike ur corrupt political leaders tht hav industries all over d world employin foreigners.Wht miracle do u want him to perform,come on d streets and spray money?! He donates generously whn there’s need to…u better find out facts b4 making utterances…

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