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Nigeria's First Billionaire and World's Second Richest Black Person

By: Errol Mars

Nigeria's first billionaire hit the jackpot when his sugar-production company listed on the Nigerian stock exchange last year.

Aliko Dangote is the owner of the Dangote Group, which has operations in Nigeria and several other countries in West Africa. A wealthy supporter of erstwhile President Olusegun Obasanjo and the ruling People's Democratic Party (PDP), Dangote controls much of Nigeria's commodities trade through his corporate and political connections. With an estimated current net worth of around US$3.3 billion, he was ranked by Forbes magazine as the 334th richest man in the world as of March 5, 2008, making him the second richest black person in the world behind 97th ranked Ethiopia born and Saudi citizen, Al Amoudia ($9 billion) and a head of Oprah Winfrey ($2.5 billion) and Patrice Motsepe of South Africa ($2.4 billion).

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