Aliko Dangote, a serial entrepreneur and Africa’s richest
man, says he is planning to open offices in the United States of America and
London to protect his family’s wealth from devaluation.
The billionaire was speaking in an interview with
Bloomberg’s David Rubenstein.
“We are going to start investing in the United States after
this our project, we want to open a family office in New York and in London,”
he said.
“We already have an office in London that has been in
operation for the last 30 years so we want to turn part of that to a family
office so that we can diversify the worth. Sometimes in Africa, we have issues
of devaluation so we want to preserve some of the family’s worth.”
Dangote became $4.3 billion richer in 2019 with his business
investments in cement, flour and sugar.
According to the Bloomberg Billionaires Index, the
62-year-old businessman ended the year with a net worth of almost $15 billion,
making him the 96th wealthiest man in the world at the end of 2019.
Dangote holds 85.2% stake in Dangote Cement and has shares
in other companies like Dangote Sugar, Nascon Allied Industries, Dangote Flour
Mills and United Bank for Africa.
Dangote incorporated his own business selling cement at 21
and begun cement manufacturing in the 1990s.
He has a crude oil refinery currently valued at $12 billion
oil refinery under construction.
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