The question as to who is the richest between Aliko Dangote and Bola Ahmed Tinubu is one of the most searched queries on Google. This is because, Dangote is Forbes richest man in Africa while Tinubu is the richest politician in the country whose investments and assets cuts across every sector in Nigeria and even abroad.
Both men are billionaires and their net worths run into billions of dollars. The only difference is that Dangote is a business man listed on Forbes magazine while Tinubu is a politician and was once the former Governor of Lagos state and is currently among the leaders of the ruling APC.
Before we answer who is richest between these two wealthy people, lets take a look at their biographies, assets, net worth and other investments.
Dangote is the world’s richest black man born 10th of April, 1957. He is a Nigerian business man, an investor who owns one of the largest conglomerates in the continent, “The Dangote Group”.
His companies spread around Africa and accounts for thousands of jobs while having interests in various commercial commodities in Nigeria and other African countries.
Forbes magazine estimated Dangote’s net worth to be $8.7 billion as at November 2020. He was born into a wealthy family and is an Hausa Muslim from Kano state. His great-grandfather, Alhaji Alhassan Dantata was also the richest African until his death in 1955.
Dangote attended various schools from Sheikh Ali Kumasi Madrasa to Capital High School in Kano. He also studied in Al-Azhar University in Cairo where he holds a bachelor’s degree in business studies and administration.
Business, Investments & Assets
While we cannot list all Dangote’s investments and assets, we can reveal the ones that are made public. The Dangote Group which is his main business started as a small trading firm in 1977 and has today become the biggest multi million dollar conglomerate in Africa.
The group has presence in countries like Benin, Ghana, Nigeria, and Togo. Over the years, the entrepreneur has further expanded his business to cover various industries and has dominated them till date. Aliko Dangote owns various plants and refineries and is into food processing, cement manufacturing, sugar production in Nigeria. He is the major supplier to most of the breweries and soft drink companies we have in the country.
The Dangote Group prides itself as the largest industrial group in Nigeria with the following subsidiaries under it: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour. His transport company also manages the fleet of staff buses of the Central Bank of Nigeria.
Dangote Group owns the largest sugar refinery in Africa and the third largest in the world which is capable of producing 800,000 tonnes of sugar yearly.
Aside that, he owns other salt factories and flour mills. Nigeria’s richest man is also a major importer of rice, pasta, cement, and fish. His company also exports cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries.
Dangote has diversified his investments into the telecommunications sector maybe to rival Mike Adenuga, the second richest business man in the country by building 14,000 kilometres of fibre optic cables to supply data to the whole nation.
Other investments he has are in banking, real estate, transport, textiles, oil, and gas. His company which is the largest conglomerate in West Africa employs more than 11,000 people, so he is a provider of labour.
Aliko Dangote was awarded Nigeria’s second-highest honour, the Grand Commander of the Order of the Niger (GCON) by the former President, Goodluck Jonathan in November 2011 for his achievement and contribution to the nations economy.
Dangote is also among the wealthy Nigerians who owns private jets in the country. In fact, he owns two which include: Bombardier’s Global Express XRS, an aircraft which he bought from Canada at the price of $45 million and another one (name not known) made by same company.
Bola Ahmed Tinubu
His full name is Asiwaju Adekunle Ahmed Bola Tinubu also known as Jagaban was born 29th March, 1952. He was once a former Governor of Lagos State and the current richest politician in Nigeria.
Tinubu’s net worth isn’t revealed by Forbes, but we know that he is a wealthy man. He is one of the national leaders of All Progressive Congress (APC), the ruling party in Nigeria.
He had his primary education at St. John Primary School, Aroloya, Lagos and Children’s Home School in Ibadan. He attended Chicago State University Illinois to study Bussines Administration and bagged a bachelors degree in 1979. He has worked for various top American companies such as Arthur Andersen, Deloitte, Haskin and Sells, as well as GTE Services Corporation.
Tinubu political career started in 1992 after he won the election to represent Lagos West Constituency in Lagos State at the Nigerian senate. When the country moved from the military regime to the democratic era, he was elected governor of Lagos State in 1999.
He stayed in office for eight years before handing over to Dr. Babatunde Raji Fashola (SAN). Tinubu has a strong hold in Lagos as it is the place where most of his investments are based. The source of his wealth isn’t known as that of Dangote above.
Investments, Assets & Net Worth
According to constative.com, Tinubu’s wealth and assets both home and abroad are too numerous to record. Most people believe that he might even be richer than Dangote. To get a better detail of the recorded properties of Tinubu, visit Lagos and see for yourself.
We know that he owns hotels, and has stake in the oil and gas industry, has various landed properties in Lagos, Abuja, and other places round the world. His residence in Ikoyi, Bourdillon palace is also worth billions of Naira. Tinubu also owns a very expensive private jet, the Bombardier Challenger which he bought $60Million. It was this aircraft that was used to carry Yahya Jammeh, former Gambia president into exile.
With all these properties and businesses, Bola Ahmed Tinubu net worth is put at $5 billion even though he is not listed among the richest people in the country.
Tinubu and Aliko Dangote: Who is Richer?
For the record as seen above, Dangote is richer than Tinubu as his net worth is estimated at $8.7 billion by Forbes while Tinubu on the other hand is worth $5 billion in dollars. This does not mean that the later is lesser but might even be the richest in the country because he is a politician.