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Africa’s Richest Man Once Withdrew $10M Just To Look At It

By Staff

Known as the Africa's richest man and the only man of African descent to be in the top 100 Bloomberg's 2019 list of billionaires, Aliko Dangote, in a forum said that he had once withdrawn $10 million in cash just to look at it and believe that it was real money, not just numbers on paper.

Africa’s Richest Man Once Withdrew $10M Just To Look At It

At the Mo Ibrahim forum in Abidjan in April this year, Dangote said, "When you're young your first million is important, but after, the numbers don't mean much."

"One day, I cashed 10 million, put them in the boot of my car I put it in my room. I looked at them and thought 'now I believe I have money' and took it back to the bank the next day," he added while advising young African entrepreneurs to not get carried away by their first bloom of success.

Aliko Dangote is a Nigerian businessman who is the Chairman and CEO of the Dangaote Group. As of March 2019, his networth was estimated to be $10.6 million (according to Forbes magazine). Dangote Group is a multinational industrial conglomerate, the largest in West Africa, that owns and operates 18 subsidiaries.

With its dominance in the sugar market and refinery business in Nigeria, it is the main supplier (70 percent of the market) to the country's breweries, confectioners and soft drinks companies. It also owns salt factories, flour mills and exports several agricultural produce like rice, cocoa, sesame seeds and cotton. It also has major investments in real estate, banking, oil and gas, textile and transport businesses.

Read more about: africa forbes
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