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Dangote, with a net worth of $10.5 billion, is the only African on the list, dominated by billionaires from Asia and Europe.

Dangote ranks 9th on list of top 10 richest manufacturing billionaires in the world | Pulse Nigeria

Victor Oluwole

Africa’s richest man, <a href="https://africa.businessinsider.com/local/leaders/africas-tycoon-aliko-dangote-shakes-up-food-sector-with-salt-sugar-and-rice-merger/x0evmjm">Aliko Dangote</a>, has ranked 9th on the list of the richest manufacturing <a href="https://africa.businessinsider.com/local/leaders/top-5-richest-africans-in-2023/2bk9qbn">billionaires in the world</a> in 2023.&nbsp;

According to CEOWorld magazine, Dangote, with a net worth of $10.5 billion, is the only African on the list, dominated by billionaires from Asia and Europe.

The 66-year-old billionaire, who derived most of his wealth from his 85.2 per cent majority stake in Dangote Cement, the<a href="https://africa.businessinsider.com/local/markets/dangote-cement-records-first-sale-decline-in-5-years/gbgxqbz"> largest cement producer</a> in sub-Saharan Africa, credits much of his success to his maternal grandfather, who instilled a business mindset in him from a very young age.

Here is a list of the top 10 richest manufacturing billionaires in the world in 2023, according to <a href="https://ceoworld.biz/2023/11/01/richest-billionaires-in-manufacturing-industry-november-01-2023/">CEOWorld magazine</a>:

<ol><li>Reinhold Wuerth &amp; family: $25.7 billion</li><li>Michael Hartono‌: $22.3 billion</li><li>He Xiangjian &amp; family: $21.2 billion</li><li>Takemitsu Takizaki: $18.7 billion</li><li>James Ratcliffe: $18.2 billion</li><li>Goh Cheng Liang: $11.3 billion</li><li>Li Shuirong: $10.9 billion</li><li>Viktor Rashnikov: $10.5 billion</li><li>Aliko Dangote: $10.5 billion</li><li>Anthony Pratt: $9.8 billion</li></ol>

Dangote started his business in the early 1980s with a small loan from his uncle, and he has since built a vast conglomerate with interests in cement, sugar, flour, salt, and other industries. Today, Dangote Group has operations in 10 countries across Africa across a range of industries, including Dangote Cement, Dangote Flour and Dangote Sugar.

In an interview online, Dangote described manufacturing as one of the potent ways of lifting people out of poverty through the creation of gainful employment. According to the Nigerian billionaire, countries smaller than Nigeria, such as Singapore and South Korea, had an average per capita GDP of 65,233 dollars and 31,846 dollars, respectively, due to their level of industrialisation.

“It is evident that manufacturing is pivotal to industrialisation. No country in the world has ever industrialised or attained ‘developed nation status’ without having a thriving manufacturing sector,” Dangote said. “Without a doubt, manufacturing is the heartbeat of industrialisation and the bedrock for inclusive economic growth and development,” <a href="https://businessday.ng/real-sector/article/dangote-calls-for-policy-implementation-to-drive-industrialization/">BusinessDay</a> reported in 2022.

Aliko Dangote: A fearless advocate for quality education and success

Dangote ranks 9th on list of top 10 richest manufacturing billionaires in the world

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