Aliko Dangote vs Patrice Motsepe

2011 has just started, in our quest to motivate and bring out the entrepreneurial spirit in you, we thought it fit to feature our very own African brothers who have defied all odds to earn billionaire status recognized by America’s Forbes Magazine.

I sincerely hope these gentlemen’s short stories will motivate you to move to the next level in your entrepreneurial journey. Today we feature two prominent gentlemen from humble beginnings Patrice Motsepe Mining Magnet (South African) and Nigerian Aliko Dangote Industrialist par excellence.

Patrice Motsepe

Source of Wealth: Mining

Age: 48

Country : South African

Residence: Johannesburg

Fortune: $2.3 (Self Made)

Forbes.com Says:

“Johannesburg mining magnate is South Africa’s first black billionaire. Net worth up this year by $1 billion as a result of rising stock prices and South African Rand’s strength against the dollar. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $1.3 billion (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: platinum, nickel, chrome, iron, manganese, coal and gold. Benefited from South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 6.2% stake in Sanlam, a publicly traded financial services company outside Cape Town where he sits on the board. Invited to chair the board of Sanlam in December, but turned down the post.”

Aliko Dangote

Source of Wealth: Sugar, flour, cement

Country Of Citizenship: Nigeria

Age: 52

Residence: Lagos

Fortune: $2.1 bil (Inherited and Growing)

Forbes.com Says:

“Commodities keeping Dangote afloat despite Nigeria’s financial meltdown. Stocks of his sugar and flour companies are both up in the past year. Meanwhile, stake in Benue Cement has doubled, helped by demand from China. Dangote now expanding cement operations in Senegal and Zambia. Overcame negative reports about debts owned to banks and share price fixing allegations to become the newly installed President of the Nigerian Stock Exchange last August. Settled row with businessman Femi Otedola, who fell off the billionaires list this year. Dangote began career as trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.”

Source: Forbes Magazine