Africa Has Had the Same Richest Man for Decades

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nvesting/100615/how-aliko-dangote-became-richest-african.asp#:~:text=Aliko%20Dangote%20has%20been%20the,worth%20of%20around%20%2413%20billion.">10 years running</a>. It is hard to argue that this is a good thing for the man.Being the richest man and maintaining that status for a decade says a lot about your work ethic, determination, and vision as a businessman. It’s such an extraordinary feat that it says a lot of things about the person and character of Aliko Dangote.But what does it say about Africa?1. The fact that one man has been at the top of the rich list for a decade says a lot about the rate of economic growth in the African continent. Compare this to the list of billionaires in the US for example.In the 10 years that Aliko Dangote has been the richest man in Africa, there have been <a href="https://www.forbes.com/decade-of-billionaires/">4 different richest men in the world</a>. Do you see the difference?There is more movement

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at the top elsewhere than in Africa. In other words, the African dream does not exist.Technology is the shit today. Out of the top 10 richest persons in the world, 7 made their fortunes in the tech field, including Space X, Google, Amazon, etc. In other words, the list is dominated by technology, and the competition between the world’s richest people is largely powered by technology. In comparison, <a href="https://www.forbesafrica.com/daily-cover-story/2022/02/11/the-forbes-billionaires-list-africas-richest-people-2022/">of the top 10 richest people in Africa</a> half made their money through commodities like sugar and cement, the other half made their money through diamonds, and a tiny percentage made their money in telecom.2. The tech industry in Africa is very underdeveloped. There is a lot of room for growth. To turn Africa into the economic powerhouse that it deserves to be, Africa would have to transition from a commodity-driven economy to a technology-driven economy.</article></body>

The №1 lesson this teaches you about Africa.

Do you know who the richest black man is?

His name is Alike Dangote, and he is a Nigerian citizen. Worth a whopping $12.5bn according to Forbes, he is also the richest man in Africa and the 130th richest man in the world today.

Ordinarily, this is a good thing for him and a win for Africa.

But when you look closer, Aliko Dangote has been the richest man in Africa for at least 10 years running. It is hard to argue that this is a good thing for the man.

Being the richest man and maintaining that status for a decade says a lot about your work ethic, determination, and vision as a businessman. It’s such an extraordinary feat that it says a lot of things about the person and character of Aliko Dangote.

But what does it say about Africa?

1. The fact that one man has been at the top of the rich list for a decade says a lot about the rate of economic growth in the African continent. Compare this to the list of billionaires in the US for example.

In the 10 years that Aliko Dangote has been the richest man in Africa, there have been 4 different richest men in the world. Do you see the difference?

There is more movement at the top elsewhere than in Africa. In other words, the African dream does not exist.

Technology is the shit today. Out of the top 10 richest persons in the world, 7 made their fortunes in the tech field, including Space X, Google, Amazon, etc. In other words, the list is dominated by technology, and the competition between the world’s richest people is largely powered by technology. In comparison, of the top 10 richest people in Africa half made their money through commodities like sugar and cement, the other half made their money through diamonds, and a tiny percentage made their money in telecom.

2. The tech industry in Africa is very underdeveloped. There is a lot of room for growth. To turn Africa into the economic powerhouse that it deserves to be, Africa would have to transition from a commodity-driven economy to a technology-driven economy.