NewStats: 3,263,952 , 8,182,068 topics. Date: Monday, 09 June 2025 at 02:13 AM 163e5a

Aliko Dangote, Africa’s wealthiest individual, is preparing to open a family office in Dubai, ing a growing number of high-net-worth individuals leveraging the city’s status as a global financial centre.

This move highlights Dubai’s increasing allure as a hub for wealth management and investment diversification, driven by its business-friendly environment and favourable tax policies.

Dangote, whose net worth stands at $13.2 billion according to the Bloomberg Billionaires Index, ranks as the 168th richest person gl

The Nigerian billionaire has built his fortune through a diversified portfolio in commodities such as cement, sugar, and flour. Most recently, his business ventures expanded into energy, with the launch of his $20 billion oil refinery in Lagos, the largest in Africa.

This strategic relocation reflects a broader trend among ultra-high-net-worth individuals (UHNWIs) seeking stable, low-tax jurisdictions to manage their wealth. Dubai, known for its regulatory flexibility and geographic advantage as a gateway between East and West, has become a prime destination for family offices and financial operations in recent years.

Regional Trend Among Africa’s Billionaires
Dangote’s move mirrors a recent trend among Africa’s wealthiest figures, such as Egyptian billionaire Nassef Sawiris, who also moved his family office to Abu Dhabi. Sawiris, with a net worth of $7.6 billion, has re-domiciled his NNS Group in the Abu Dhabi Global Market, the emirate’s financial hub. This shift aligns with the growing appeal of the Gulf region for major investors seeking international diversification.

Dubai’s Rising Appeal

The growing influx of global billionaires into Dubai is largely driven by the city’s attractive tax regime and investor-friendly policies. The emirate has emerged as a preferred location for businesses and UHNWIs to safeguard and grow their wealth, capitalising on the Middle East’s evolving financial landscape

Dangote’s decision is also seen as a response to the increasingly challenging economic environment in Nigeria. His refinery project, a massive $20 billion investment, has faced multiple setbacks due to delays and regulatory hurdles. The Nigerian economy, plagued by uncertainty, has pushed many of its wealthiest individuals to seek more stable environments for business and investment.

As Dangote transitions his wealth management operations to Dubai, the move underscores the increasing shift of capital from Africa’s largest economy to the Middle East. With Dubai’s family office sector rapidly growing, the city is poised to further solidify its reputation as a leading global financial hub for UHNWIs.

https://nairametrics.com/2024/09/25/africas-richest-man-aliko-dangote-to-establish-family-office-in-dubai/

Toh

As the richest man in Africa, its actually a sin staying anywhere on Lagos Island/Maitama close to some Bank Managers, Artistes, SM influencers and Directors of Multinational firms


He should reside among his peers.

Thats Class

He is moving his family office, not his business.

esrinri:
After collecting cheap dollar from Cbn to build his refinery he's running away.

It's a normal thing among the ultra rich. The Dubai royals also have a family office worth $500m in china

Em own better

In simpler for those thinking na "office" or "family house" them wan relocate to Dubai...

A family office is a special type of company that helps very very rich people and their families manage their money and investments. It handles all their financial needs, including planning for the future, managing taxes, and making sure wealth is ed on to the next generations. It also takes care of personal matters like paying bills, managing properties, and sometimes even helping with charity work.

This idea was popularized by John D. Rockefeller, the richest man of his time and I think of all time (his company Standard Oil, biggest refinery of that era, became the mother of ExxonMobil, Chevron and others today after it was broken up by the US Government due to its monopoly ), who set up a family office in 1882 to manage his fortune and deal with government scrutiny. It helped him protect his wealth and it on smoothly to future generations. Till today his family and charities are still collecting from that trust fund valued at around $8 billion ( the money still long )

For someone like Aliko Dangote, Africa’s richest man, setting up a family office in Dubai rather than Nigeria has key advantages. Dubai has no personal income or capital gains taxes, unlike Nigeria. Dubai is a global business hub, making it easier to invest worldwide. Dubai is politically and economically stable, unlike Nigeria, which faces challenges. So all the money the Dangote family makes as personal income are bound to that office from where taxes, payouts and investments can be made depending on the legal structure of the company.

E get as you go rich, managing your family money go become headache. He is transiting to the phase of securing and consolidating his wealth for generations.

As a member of his family, shey I will be allowed to come there and live

When money talks, poverty must obey🤗


Money stops all nonsense 😆
Money is very good 🤫

Even the Holy Bible confirmed that money answers all things 👌

The

Billionaire doings 🙌

They’ve finally pushed him out of Nigeria’
Dangote happens to be the biggest employer of labor in Nigeria; it will be a great loss if he decides to completely stop mapping his investments in Nigeria

I am surprised he has not established one since.

Many people here do not even know what a family office is.

Life goes on and on and on

CyrusVI:


As the richest man in Africa, its actually a sin staying anywhere on Lagos Island/Maitama close to some Bank Managers, Artistes, SM influencers and Directors of Multinational firms


He should reside among his peers.

Thats Class

see ajegunle pikin blabing

Lolz finally you are now investing abroad after your dream of refinery have come true

Congratulations to him and his family of beautiful daughters!

esrinri:
After collecting cheap dollar from Cbn to build his refinery he's running away.

Hmmm.... Are you sure?

Land don finish for naija

stagger:
I am surprised he has not established one since.

Many people here do not even know what a family office is.

what is the meaning of family office?

esrinri:
After collecting cheap dollar from Cbn to build his refinery he's running away.

He is trying to protect his wealth and assets

Rich man's doing

G

Kidnappers are on d rampage here in Lafia, Nasarawa state

CyrusVI:


As the richest man in Africa, its actually a sin staying anywhere on Lagos Island/Maitama close to some Bank Managers, Artistes, SM influencers and Directors of Multinational firms


He should reside among his peers.

Thats Class

flow flow, anywhere belle face you can never see anything wrong after making his money from Nigeria he is setting his family house in duabi, that restricted Nigerians for over 3yrs

Nigeria, a country ruled by ill-informed kleptocrats and oligarchs. The day oil has no importance in the global economy is the day Africa, especially Nigeria will be free.

He has a net worth of $13.2 billion dollar but has a $20 billion dollar worth of refinery...? Is it my eyes that is paining me or maybe I don't understand the mathematics. So his net worth hasn't increased since last year that he ended up building the refinery? Net worth of $ 13.2 for 5 years consecutively and yet he had a brand new refinery and still the same net worth??

The U.S might enter into a recession soon ,so the U.S might not work ... whatever suit him, he should create the branches of his tree as advice... he needs to be a small fish in a big Ocean instead of a big whale in a pond. He should also find a peaceful beautiful country to retire to once he cross 70.

opera1:
Land don finish for naija

Perhaps he has been discouraged by the "Youths" especially that thire leader who resides on Niraland and keeps encouraging the youths to eat the rich.


Worst thing the poor of any nation can do is threaten the wealthy. Trying to blackmail the rich doesn't work. The Wealthy is a citizen of the entire world. They will go elsewhere leaving your skanky poor ass wallowing in your filth.

Noted.