Saturday, 2 June 2012

“I Could Become The Fifth Richest Man in The World” Says Nigerian Billionaire Aliko Dangote [Business]



The richest black man on earth, predicts that he could become the fifth richest man in the world if his business plans align well, his plans includes listing his $11 billion cement business on the London Stock Exchange next year.
Aliko who is a modest and quiet gentleman by nature but ruthless in his business dealings, he stated this in an interview with the Financial Times, the African billionaire was prodded with the question, if he envisioned himself becoming the world’s richest man. “Why not?” he responded. “Of course it’s possible. We will talk about this in five years.”
“We want to list in London next year,” he said in an interview in Lagos. “By then the upside to our business will be much bigger than today.”
Dangote is currently worth about $12billion according to the newly published list of World’s richest people and he’s got plans to quadruple his profits in the next four years and build his business to become the world’s most profitable cement company.
It is expected that Mr. Dangote will team up with investment banks, Morgan Stanley and JPMorgan as co-leads for his London share issue and plans to give up his current role as Chairman.
“My plan is to have different faces [on the board],” he stated. “The face of the chairman will not be Aliko Dangote, it will be somebody else, a professional who is well-respected within investment circles.”
[Via FT]

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