‘What Would Dangote Do?’ Elumelu Hails Africa’s Richest Man in Time’s Most Influential People of 2026 List

Billionaire banker and philanthropist Tony Elumelu has hailed industrialist Aliko Dangote as “one of the greatest African entrepreneurs of our time,” in a tribute for Time’s 100 Most Influential People of 2026, casting the Dangote Group founder as a model for a new generation of African business leaders.

Writing in the prestigious annual list, Elumelu, chairman of Heirs Holdings and United Bank for Africa, described Dangote as “indefatigable, resilient, and foresighted,” and praised his decades-long commitment to building value on the continent through large-scale industrialisation.

Dangote, Africa’s richest man, has grown the Dangote Group from a trading outfit into a manufacturing giant, financing and producing essential commodities ranging from cement and sugar to fertilizer and oil. Elumelu highlighted Dangote’s massive new oil refinery in Nigeria — now the country’s largest — as a symbol of his determination to invest in African industry and reduce dependence on imports.

“He has shown Africans can create value, with our own resources, on our continent,” Elumelu wrote, positioning Dangote’s investments as part of a broader movement to drive Africa’s development from within.

Beyond his business success, Elumelu dwelt on Dangote’s personal qualities, revealing that in challenging moments he often asks himself: “What would Aliko do?” He added that he jokingly calls Dangote “Alicash” because of his “Midas touch,” but said what impresses him most is the Kano-born magnate’s humility.

“In spite of his immense success, he is incredibly humble,” Elumelu noted, saying Dangote “has inspired a generation of entrepreneurs, continues to inspire his friends, and can always be counted on to return a phone call.”

Both men, two of Africa’s most prominent private-sector leaders, share a philosophy of homegrown development. “Aliko and I both believe in the development of Africa from within—by Africans,” Elumelu wrote, commending Dangote’s “unceasing” dedication to leaving the continent “in a better state than when we met it.”

Elumelu’s tribute concludes by framing Dangote not just as a titan of industry, but as a man intent on building enduring institutions and impact: “A great man, creating a great legacy.”