My Findings on Money V : Why Dangote is richer than the rest of us.

Alhaji Aliko Dangote GCON is the richest man in Africa.

As at the time of this writing, Alhaji’s networth according to Forbes is $10.3B.

Let me help You understand it.

Alhaji is worth 10,300,000,000.00 in dollos.

That is about 3,708,000,000,000.00 Naira only.

Take a deep breathe, let that sink in for a minute.

 

Let’s proceed..

Forget about what the Federal Government told was the full meaning of the GCON acronym, personally I think that GCON suffix means General Commander Of the Nigerian economy.  Anyways, that is story for another day.

In the last post, we had a take home assignment sort of, we asked why Dangote was and is still the richest man in Africa.

Did You attempt to answer that question?

If You did, I am sure You have some clues now but if You did not, well, back in my secondary school days, that would have fetched You some of Mr Adekunle’s dreaded lashes..LOL

 

So, let the rubbers hit the road fam.

Why is Alhaji richer than the rest of us?

It’s pretty simple.

Do You remember how people make money?

Exchange! yeah Exchange!!!!

So You go to work for some company for 20 days in a month and on/before the 30th day of the month, the company drops a token into your salary account. Exchange!

Alhaji is also exchanging.

The only difference is while most of us are doing what I call a ONE-TO-ONE exchange (i.e. Me vs The Company I work for), Alhaji is operating on a ONE-TO-MANY exchange or should I say ONE-TO-MILLIONS or ONE-TO-A-CONTINENT.

Let me break it down.

Alhaji Dangote is the President and Chief Executive of the Dangote Group, and the Dangote group is a major player in major industries in Nigeria and Africa.

Alhaji’s company manufactures and distributes products and services from Cement to Sugar, Salt, Flours, Pasta, Tomato Paste, Transportation, Shipping, Beverages to mention but a few.

Alhaji is the real Big Brother Africa, he and his company are technically catering for most of our needs. Whatever it is You need, Alhaji has got You covered.

That is beyond the “Omo Alhaji Something”, this is dealing with the Alhaji himself.

 

 

So, how does this translate to Alhaji’s wealth?

Let me break it down, while You and I are doing our ONE-TO-ONE or ONE-TO-ONE-TO-SIDE-HUSTLE exchanges and earning our Money, Alhaji is waiting for us to come and exchange the money with him simple.

Whether You are building your own house, Dangote’s cement got You covered in exchange for your money.

You like some Sugar in your tea? Dangote’s Sugar got You covered, all He needs is a little of your money.

Not enough Salt in the Rice?, well, Dangote still got You covered.

Want some Tomato Paste in the Steeewww?, Dangote has got You covered so there can be stew everywhere. Well, You are paying for it.

And every now and then, You see Dangote’s trucks on the highways,”Based on logistics” who do You think the proceeds are going to? Alhaji!

That exactly is how Alhaji became richer than the rest of us and even his Uncle that loaned him his initial capital.

***Caveat : This is one simple way Alhaji makes his money, there are other ways e.g. His companies are listed the Nigerian Stock Exchange, AKA they make money from shareholders too. This purpose of the above is to provide a simple explanation of the message we are trying to pass across.. Kapicht?

 

In the next article, we will start asking personal questions, How can we (You and I) make some more money than we are currently making.

 

BTW, do You care for some brain teaser?

Do you know there are two prominent Eagles in Nigeria, well asides from the Super Eagles which are nothing more than Christmas Chickens anyways.

Can You identify these two major Eagles?

Hint: They both deal with Money!

Give me the correct answers in the comments maybe someone might get lucky this yuletide.

 

Want to use a little advice : A lot of people are out to collect your hard earned Money this December.

Stay Woke (Ji Masun),  dont lose your money on frivolities.

See You in the next article.

 

I am Seun Ogunmola I help People and Organizations to leverage on Technology to achieve their goals Faster, Easier and Cheaper.

I also write on diverse subject areas including Finance, Business, Productivity and Governance.