Africa’s richest man, Aliko Dangote, has explained why he let go of luxury properties in the United States and the United Kingdom, saying the move was driven by a deliberate choice to concentrate on industrial growth and reduce personal distractions. He spoke during a podcast interview with Nicolai Tangen, CEO of Norges Bank Investment Management, where he reflected on the decisions behind his long-term business focus.
Dangote said he reached a point where maintaining foreign properties no longer aligned with his priorities. “When I decided to go into the industry, I sold all my properties in the US. I had two big mansions in the US and a house in the UK. I wanted to really sit in Nigeria and concentrate,” he said.
He added that his approach to work is shaped by strict personal discipline and a view of business as his central focus in life. “People see that I work so hard, do you know why? It is because I take my business as my hobby. If I take my business as a joke, I won’t work this hard,” he said, describing a routine that begins early each day and includes structured hours of work and exercise.
On lifestyle choices, he explained that he prefers hotels when traveling rather than maintaining private residences abroad. According to him, owning holiday homes comes with constant obligations that can distract from business priorities. “Sometimes, when you own a holiday home anywhere, you have to create time to go and use that property. Now my life is very simple. Wherever I go, I use hotels; I pay. When I leave, nobody will call me about any issue,” he said.
He linked these decisions to a broader strategy guiding the Dangote Group, which spans cement, sugar, salt, fertiliser, petrochemicals, and oil refining. He noted that the company operates with long-term targets extending to 2030 and beyond. “So I’m committed to what I do. I always create a vision. It’s like now, we have a vision for 2030, so I have targets to meet,” he said.
Dangote also said his investments are shaped by a backward integration approach aimed at producing locally what would otherwise be imported. “We produce what the people need. When you wake up every morning, you are using part of what we produce,” he said.
