Nigeria's Aliko Dangote is now the World's Richest Black Person: Aliko Dangote – how did he become Africa’s richest person overnight?

Aliko Dangote – how did he become Africa’s richest person overnight?

According to Forbes, Aliko Dangote, Africa’s richest man and Nigeria’s first billionaire is worth .8 billion. Forbes reports that the Nigerian businessman's fortune surged 557% in the past year; making him the world's biggest gainer in percentage terms and Africa's richest individual for the first time.

The name Aliko Dangote, first flew on Chocolate City's radar after it was announced that he purchased a nice little birthday present when he turned 53-years-old. He paid $45,000,000 million for a Bombardier Global Express XRS aircraft.

According to Forbes, Dangote, Africa’s richest man and Nigeria’s first billionaire is worth $13.8 billion. Forbes reports that the Nigerian businessman's fortune surged 557% in the past year; making him the world's biggest gainer in percentage terms and Africa's richest individual for the first time.

Dangote began his career as a commodities trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas. Established in May 1981 as a trading business with an initial focus on cement, Dangote Group diversified over time into a conglomerate trading cement, sugar, flour, salt and fish. By the early 1990s Dangote Group had grown into one of the largest trading conglomerates operating in the country and the largest cement plant in sub-Saharan Africa..

In 1999, following the transition to civilian rule and after an inspirational visit to Brazil to study the emerging manufacturing sector, the Dangote Group made a strategic decision to transit from a trading based business into a fully fledged manufacturing operation. In a country where imports constitute the vast majority of consumed goods, a clear gap existed for a manufacturing operation that could meet the 'basic needs' of a vast and fast growing population.

As Africa's largest cement maker, Dangote Group has plants under construction in Zambia, Tanzania, Congo and Ethiopia and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places.

This month, Dangote pledged $2 million to establish a fellowship program aimed at grooming young leaders from Africa. Details of the fellowship as well as the selection criteria are yet to emerge, but Dangote promised that his Dangote Foundation will award the fellowship to 35 young Africans.

According to Forbes, below are the other billionaires from the continent and their overall positions:

1. Aliko Dangote
Country of citizenship: Nigeria
Net worth: $13.8 billion
Source of wealth: Sugar, flour, cement , inherited and growing
Marital status: Married
Children: 3
Overall position: 51

2. Nicky Oppenheimer & family
Country of citizenship: South Africa
Net worth: $7 billion
Source of wealth: De Beers, inherited
Marital Status: Married
Children: 1
Overall position: 136

3. Nassef Sawiris
Country of citizenship: Egypt
Net worth: $5.6 billion
Source of wealth: Construction, inherited and growing
Overall position: 182

4. Johann Rupert & family
Country of citizenship: South Africa
Net worth: $4.8 billion
Source of wealth: Luxury goods, inherited and growing
Marital Status: Married
Children: 3
Overall position: 219

5. Naguib Sawiris
Country of citizenship: Egypt
Net worth: $3.5 billion
Source of wealth: Telecom, inherited and growing
Marital Status: Married
Children: 4
Overall position: 310

6. Patrice Motsepe
Country of citizenship: South Africa
Net worth: $3.3 billion
Source of wealth: Mining, self-made
Marital Status: Married
Children: 3
Overall position: 336

7. Onsi Sawiris
Country of citizenship: Egypt
Net worth: $2.9 billion
Source of wealth: Construction, self-made
Marital status: Married
Children: 3
Overall position: 393

8. Mohamed Mansour
Country of citizenship: Egypt
Net worth: $2 billion
Source of wealth: Cotton trading, inherited and growing
Marital status: Married
Children: 2
Overall position: 595

9. Mike Adenuga
Country of citizenship: Nigeria
Net worth: $2 billion
Source of wealth: Banking, self-made
Marital Status: Married
Overall position: 595

10.Yasseen Mansour
Country of citizenship: Egypt
Net worth: $1.8 billion
Source of wealth: Diversified, inherited and growing
Marital status: Married
Children: 4
Overall position: 692