A story by Dw-tv3.com said Mr Dangote, 59, has died in Germany after a short illness.
News of the death hit social media and within some few minutes, it went viral with people expressing shock, surprise and showing all sorts of emotions including bidding him farewell and praying he rests in peace.
However, on Sunday, September 25 at 1:25 p.m., Mr Dangote tweeting with the handle @AlikoDangote said, “hale, hearty and alive”. Please disregard malicious report saying otherwise. Thank you."
Aliko Dangote who owns a conglomerate of businesses was reported in the 2016 edition of Forbes magazine to be among the richest people in Africa.
Forbes estimates the wealth of Mr Dangote to be at $16.4 billion, which is an increase of $700 million from 2015.
He was reported for the second time last week to have shown an interest in owning a stake in English Premier League team Arsenal in some few three years to come.