'I owned 27 cars at a young age, bought my first private jet at 23' – Aliko Dangote

Nigerian billionaire and business mogul Aliko Dangote has revealed that he bought his first private aircraft before turning 23 and owned 27 cars at a young age, cautioning people against spending lavishly as soon as they begin making money.

According to the founder of the Dangote Group, he made significant money early in his business career and spent part of his wealth on expensive cars and an aircraft, decisions he later came to regret.

“I had 27 cars. I bought my first plane before the age of 23,” he recalled.

Dangote explained that whenever he sees young people spending heavily on luxury items after becoming wealthy, he tries to caution them because he went through a similar experience.

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He stressed that making money should not automatically lead to an expensive lifestyle, warning that excessive spending on enjoyment can distract people from building successful businesses.

Reflecting on his early business success, Dangote disclosed that in 1978, he was making about 7,000 naira daily, an amount he described as substantial at the time.

He said his earnings enabled him to purchase his first Mercedes-Benz 200 for 5,100 naira in 1978.

He recalled how excited he was to own the brand-new vehicle, which did not even have power steering at the time.

Dangote also revealed that he bought his first aircraft without seeking professional advice, explaining that his desire to own a plane influenced the decision.

He further recalled an aircraft crash at London's Luton Airport on March 31, 1983, while reflecting on his early experiences with wealth.

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Looking back, the billionaire emphasised the importance of financial discipline, urging people, particularly young entrepreneurs, to avoid unnecessary luxury spending and focus on growing their businesses.

“I had 27 luxury cars and bought my first private jet before the age of 23. When I see people make money and immediately start spending lavishly, I try my best to caution them because I regret some of my early decisions. Too much enjoyment is not good.”

— Aliko Dangote https://t.co/QkpNkgbs76

— SKB (@seyikanbai) October 22, 2026

DR/MA

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Source: www.ghanaweb.com
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