Aliko Dangote: 5 Things You Can Learn From Africa's Richest Man

Aliko Dangote, pictured with his daughter, Halima, at the TIME 100 Gala in New York. Credit:

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.

Read more: Aliko Dangote: 5 Things You Can Learn From Africa’s Richest Man — The Motley Fool