With a net worth of $16.5 billion, Aliko Dangote, of Lagos, Nigeria, is the richest man in Africa. To get a sense of just how staggering that figure is, consider that Dangote's fortune is 2.9% of Nigeria's gross domestic product. For comparison, the richest man in American history, John D. Rockefeller, had a net worth of 1.5% of the U.S. GDP in 1937. Take it a step further, and if an American had a net worth of 2.9% of the U.S. GDP today, that person would be worth $500 billion.
How does someone build such a massive net worth built, and what lessons can we learn?

1. Invest in what you know

Dangote learned from one of the oldest investing lessons in the book. Born in 1957, he was exposed to the entrepreneurial spirit at a young age..He was raised in Kano State, Nigeria, by his grandfather, who himself became one of the wealthiest men in the area selling commodities.
After graduating from Egypt's Al-Azhar University, the 21-year-old took a $3,000 loan from his uncle and set out on his own, but he didn't stray far from the family business. Dangote used the loan to import rice, sugar, and cement from overseas at wholesale prices and then sell locally at significant markups. This was a business Dangote understood thanks to his grandfather, and he was able to make the venture an immediate success. According to Warren Cassel at Investopedia, Dangote Group "had grown into one of the largest trading conglomerates operating in the country" by 1990.

Read more @ http://businessafricans..com.ng/2017/03/aliko-dangote-5-things-you-can-learn.html

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