nigerian billionaires from poor backgrounds

Cheung Kong Plastics, named after the Yangtze River, was started with $6,500 in savings and loans from relatives, but he eventually moved into real estate. His maternal grandfather is the late Chief Antonio Deinde Fernandez, a Nigerian business magnate, diplomat and Permanent Representative of Central African Republic to the United Nations. Persons who achieved great success in politics, diplomacy and business in Africa can get such an award. He established the BUA Group in 1988. At age 12, his family fled from China to Hong Kong and his father, a primary school principal-turned-watch factory worker, died shortly after. Igho Sanomi is the chairman of the foundation, which aims at alleviating socio-economic hardship across the country. He constructed the overhead bridge in Ebonyi State with his private funds without asking for government intervention. The company has grown over the years to become a conglomerate worth over $2.5 billion with interests in manufacturing, infrastructure and agriculture. Belo-Osagie has been involved in oil, finance and telecommunications industry. Over the years, he has attended executive management programmes in Switzerland and U.S.A, one of which is at the Harvard Business School. His parents were cotton shareholders and the family were so poor that they had no indoor plumbing or electricity. Nigerian businessman Emeka Okonkwo, popularly known as "E-Money", is an entrepreneur who is the chief executive officer of Five Star Music. He received the second licence in 2003 and ever since then his telecoms company which is fully indigenous has grown rapidly. An avid horse racing fan, Troutt owns WinStar Farm in Kentucky and is a breeder of Thoroughbreds. His father was a truck driver and the family were poor. 1. Abramovich spent his early life in a region far-removed from the riches of his current home in Londons Knightsbridge. Aged 19, Xin flew to England to learn English at a language school in Oxford. Bill gates and Zucker He recently invested in power generation as part of the liberalisation of the sector in Nigeria. People dont understand how persistent you have to be. B-Red, born Adebayo Adeleke, is a Nigerian singer and songwriter. Oracle software company founder Larry Ellison is worth $58.5 billion (45.9bn) and is the 10th richest person in the world. Ellison moved to Chicago with his adoptive parents where he attended school. Its oil exploration firm, Yinka Folawiyo Petroleum, owns a 60% interest in an oil block that contains the Aje offshore field. Leon Charney made more than a billion dollars from real estate investments, especially in properties around Manhattan's Times Square. Your email address will not be published. This investment is said to be worth over $9 billion and it is expected to be completed by 2019. By 2014, Forbes claimed that Winfrey had a net worth in excess of 2.9 billion dollars. To date, the company has developed over 60 million square feet of land. Media Mogul Oprah Winfrey, worth $2.9 billion (2.27bn), is an American media executive, talk show host, actress, producer, and philanthropist. A post shared by The Heritage Times (@thtafrica). Li hasnt always been so blessed. He is the founder of SIFAX Group of Companies. The group also owns sports brand PUMA and the $19 billion (14.82bn) company is run by Pinault's son. Although Dangote was born into a wealthy family, he hasnt rested on his soars due to his familys riches. Meet Helen Pauls Husband Femi Bamisile and Children. He is among the top richest men in Nigeria, thanks to various investments, including a controlling interest in Transcorp, Nigerias largest publicly traded conglomerate, a significant stake in the United Bank for Africa, and an extensive portfolio of real estate across Nigeria, among other assets. But the billionaires early life was far from opulent. Under his reign the company experienced an expansion of gargantuan proportions. He owns a holding company, Premium Telecommunications Holdings, which has a significant stake in Mubadala Development Company and the Etisalat Group. Theophilus Danjuma amassed his mouth-watering fortune from shipping and petroleum. After borrowing $900 from a good Samaritan he bought a diner in Detroit and flipped it for a tidy profit. He is also the chairman of FBN Holding Plc. Orji Uzor is the chairman of SLOK Holding and the former governor of Abia State. Kalu is also the chairman of First International Bank Limited, which operates branches throughout Gambia. A post shared by ManLikeLynxxx (OnlyPage)???? He struggled with. Sheldon Adelson is at number 21 on the Forbes Billionaires List 2018 with a fortune of $38.5 billion (30.2bn). As one of the most outstanding entrepreneurs in Africa, he also sits on many boards. He is also the founder of Zenon Petroleum and Gas Ltd. His investment isnt just limited to oil but range across other sectors such as shipping, real estate and finance. Listen: Stormzy Features Rema On Hide & Seek Remix, Listen: Wizkid Joins Don Toliver On New Song Slow Motion, Listen: DJ Tunez Teams Up With Portable For New Single Banga, Falz Features Tekno In Socio-Political Song Owa, Fix My Eyes On You Ada Featuring Sinach, Official Video Out Now, Tim Godfrey Iyanu A Sele ft. 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Kanayo, Libianca Reveals Ayra Starr & Omah Lay Are Featured On People Remix, I Have Done More For Nigeria Than The 3 Presidential Candidates Combined Burna Boy, Patoranking Preaches Love Amidst Violence On Abobi [REVIEW], Shanty Town Review: A Tale Of Crime, Deceit And Dark Politicking, Review: Cheesy As Love, Sleazy As Ego, The Eagle Is Soaring, History And Literary Concepts: A Review Of Elesin Oba (The Kings Horseman), MIXTAPE: DJ PlentySongz Best Of Asake x Seyi Vibez 2023 Mix, Afrobeat Mixtape: Cheers To 2023 by DJ Ayi, MIXTAPE: DJ Ayi BBA Mix (Bad Boy Ayi), Heres Why Yoga Is Asakes Worst Song So Far. Igho is the chairman of several companies and he is the Executive Director of Cosmos oil AG and the founder/chairman of Taleveras, an energy trading company. Danjuma studied at the Ahmadu Bello University in Zaria which was then known as the Nigerian College of Art, Science and Technology. Her son recently got married in a ceremony that was reportedly lavish. Bode Akindele is an octogenarian billionaire. Langone dug ditches for the Long Island Expressway and his high school principal advised his parents not to waste their money sending the unpromising student to college. Russian business tycoon Roman Abramovich is worth $11.3 billion (8.81bn). He is the chairman of Prince luxury group and founder of Prince omoha foundation. He is also the chairman of Standard Alliance Insurance, Verticom Wireless, STB capital markets, Flame Petroleum and Gas Limited. Read the Complete Part 1 in His Site:www.josephintro.com. She's 31, she has five children born by the "billionaire" kidnapper, and she has been by his side since the age of 17. He was also the founder of Visafone Communications Limited which has since been acquired by MTN. Required fields are marked *. In this article, weve taken a look at the list of the richest men in Nigeria and have combined that with information from other major sources to come up with a more comprehensive list. He is the owner and Chairman of The Chrome Group, a company he established in 1994 that employs over 800 staff members. The pair moved to the US from South Korea in 1981 with not much more than a high school education. The wealth and assets of these Igbo business men have makes their net worth run in dollars. In France, Altrad was poor and lived off one meal a day, yet managed to earn himself an undergraduate degrees in physics and math, and a Ph.D. in computer science. dont mind him, you get good insight bro! However, the 82-year-old has not forgotten his humble beginnings and still phones his electricity provider if he needs to challenge his bill. Recap of the Top 20 Richest Men in Nigerian and Their Net Worth. Globally, he ranks at 344 among Forbes real-time billionaires list as at 1st June 2020. The Nigerian billionaire businessman amassed his wealth from the telecommunications sector and oil industry. Ive seen it myself. Presido.Kano magnate. His other assets include minority stakes in Nigerias Access Bank and mobile phone carrier MTN Nigeria. In 1984, the Changs started the business in a 900-square-foot store in Los Angeles thanks to a mere $11,000 in savings. A post shared by ACT Foundation (@actfoundation_). He is an economist, entrepreneur and philanthropist. Honorary citizenship in the U.S. State of Georgia, 2006- Certificate of Merit Award for Humanitarianism by Lifeline Care Association, 2013- Nigeria Advancement Awards honored him as the Oil and Gas Man of the Year, 2015- Martin Luther King Legacy Award for Service and Philanthropy, 2006- African Business Leader of the Year, 2008- He won the African Banker of the Year by African Banker Magazine, 2012- National Honour of Commander of the Order of the Niger (CON), 2016- He was conferred a Lifetime Achievement Award, 2010- Recipient of the African Business Leadership Award, An honorary doctorate award in business administration from Crescent University in Abeokuta, He is a Goodwill Ambassador, Honorary Citizen of the city of Houston, and Honorary Consul of Barbados. His mother Frieda was an artist, his father Frank was a house painter and money was tight. The Dangote Group is a major force in the sugar and cement market in Nigeria and Africa. A post shared by Aliko Dangote (@dangote_fanpage). Aliko Dangote. According to Forbes, he's also the richest black person in the world . Nigeria had three of the nineteen African billionaires who also occupied the first ten positions on the Forbes Africa billionaires list. Born on the 10th of April 1957, Aliko Dangote is the owner of the 'Dangote Group,' the largest cement and sugar producer in Africa. According to Forbes, Mike Adenugas net worth as of October 2021 is estimated at $6.2 billion. The company has over time expanded to many subsidiary companies, including Chrome Oil Services, Kaztec Engineering Ltd, Global Scan systems Technology Limited (GSTL), Enugu Electricity Distribution Company, Inland Containers Nigeria Ltd, Blaze 91.5 FM, Kiss 99.9 FM, Nimek Investment Ltd, Starcrest Nigeria, Global Scan systems Limited (GSL), Interstate Electrics Ltd, and Kingsbury Trading Ltd. On the side of Philanthropy, the oil mogul created Sir Emeka Offor Foundation (SEOF) in the early 1990s, a non-governmental organization that oversees the welfare of the less-privileged in society. But Ortega came from very humble beginnings. Forbes 30 Under 30: Meet Omoha Nduka, 25-Years-Old Nigerian real Estate Billionaire Omoha Nduka John is an award winning Nigerian real estate entrepreneur, investor and philanthropist. In 1988, he purchased about 51% of the United Bank of Africa from the Nigerian government but eventually sold it in 2004 after he resigned from the bank for roughly $120 million. There are only about 2,208 billionaires in the world, with America leading the way. He is the founder and CEO of Nigerian Finder.com. He is the founder of the Honeywell Group. Her business interests are in fashion, oil and printing. Arthur Eze Arthur Eze [] His other investments include the Daily Sun and the New Telegraph newspapers. To this day, Schultz is heralded as the person responsible for revolutionising the coffee shop industry. He is the cousin of Afrobeats star, Davido. His foundation has empowered those affected by the Boko Haram crisis by providing food and clothing, building clinics, and a 100-unit N600 million housing estate for shelter. He sits or has sat on boards of prestigious firms, including Fan Milk Plc, Airtel Nigeria, Honeywell Group, First Bank of Nigeria, Eco Bank, and Guinness Nigeria Plc. Who Was Julius Agwus Wife and What Happened to His Marriage? Born in Kafanchan Kaduna State, Emeka Offor hails from Irefi Oraifite in Ekwusigo local government area of Anambra State and is arguably considered the richest Igbo man in Nigeria. A post shared by Senator Orji Uzor Kalu (@oukgram). Destroyed or . Taleveras Group is Nigerian energy, power, construction, and trading conglomerate with annual revenue estimated at $3.5 billion. Orji Uzor Kalu is the chairman of SLOK Holding, the Daily Sun, and New Telegraph newspapers in Nigeria, and served as the governor of Abia State, Nigeria, from May 29, 1999, to May 29, 2007. In 2005 he sold the oil company for $13bn (10.15bn). He was the owner of Visafone Communications Limited, which he had long sold to MTN. Other companies under Ibeto Group include Union Autoparts Manufacturing Co. Ltd, Ibeto Petrochemical Industries Ltd, Ibeto Cement Company Ltd, Eastern Bulkcem Company Ltd, Kingss Palace Hotels Ltd, Ibeto Energy Development Ltd, Palmex Agencies Ltd, Ibeto Industries Ltd, Odoh Holdings Ltd, Ibeto Hotels Ltd, etc. The company has about 2000 Nigerians (or 95% of its staff strength) as its employees working in various capacities. The third on the list of 20 richest men in Nigeria is the popular Femi Otedola. The reason she did so well? Tragedy struck when Bisciottis father died of leukemia when Stephen was eight, leaving Patricia to raise three kids on her own. Most notable among the numerous philanthropic gestures of the billionaire oil mogul is his N200million donation to the State Security Trust Fund in 2007 in an attempt to ensure a crime-free Lagos. His father, Khalifah Isyaku Rabiu was a prominent industrialist in the 70s and 80s. His net worth is estimated at $550 million, according to Forbes. In 1963 the Frenchman went on to start Kering (formerly PPR), which made wood and building materials. Image credit Sunday Alamba via The Commonwealth Flickr CC. 1. A post shared by Billionaires.Africa (@billionaires.africa). Hes currently the chairman of the bank. Oba also owns minority stakes in First Bank and Ecobank. The 39-year-old man is known for his luxurious lifestyle. Elections in Africa's largest democracy: government candidate takes the lead in Nigeria 2023-02-28T08:28:30.564Z. Thomas Peterffy has a net worth of $20.3 billion (15.9bn) and is the richest person in the state of Florida. Abdusalam Rabiu is also the chairman of the Nigerian Bank of Industry. Aged 23, he started Aerotek in a basement office with his cousin and they raked in $1.5 million in the first year. Most Nigerian artists introduce themselves to the scene about their backgrounds. She also a singer and record producer. Aiteo Groups main business target is exploration and production, refining petroleum products, bulk petroleum storage, trading, power generation, marketing, and distribution. But sadly it wasnt enough and he was sent to foster care and wound up in a gang, before finding an olive branch in the form of the military. The Guardian newspaper named him Oil and Gas CEO of the Year in June 2018. Aliko Dangote, I did not see adeleke,dantata and my self, I did not see adeleke he his richer than otedola na, It is only God knws the position of my father. He made most of his money from phone company Excel Communications, which he founded in 1988 and took public in 1996. Interestingly, the richest man in Africa is a Nigerian while the second richest African woman is also a Nigerian. He is the founder and vice chairman of Aiteo Group, one of the biggest petroleum industries in the country. Raised by his grandmother, Altrad was banned from going to school, but an innate drive to learn saw him attending school anyway. Orphaned at a young age, he was raised by his grandparents in Komi, a dark region in Siberia. He owns residential and commercial properties in Arizona, California and Hawaii and a collection of Arabian horses. EY World Entrepreneur of the Year 2015 and Montpellier rugby club president Mohed Altrad is worth $2.5 billion (1.95bn). In 1978, Langone co-founded US retail giant Home Depot with Arthur Blank and Bernard Marcus. In February, the European Bank for Reconstruction and Development revised its forecasts for Egypt's growth this year to 4.3%, down from its previous projection of 5%. Hakeem is a renowned philanthropist and one of the largest donors to the African Leadership Academy. Rotimi Alakija is a Nigerian Disc Jockey with the stage name DJ Xclusive. Her love for students has seen her sponsor many Nigerian students through the Agbami Medical and Engineering Scholarship Scheme and the Folorunso Alakija Scholarship Scheme. On "third base," with inherited wealth over $50 million, sit 7 percent of America's 400 richest. His father was the former Nigerian Ambassador to Ireland and also a former minister of Aviation. 1. The following is a list of Nigerian billionaires. The son of a single mother who worked as a bartender, Troutt grew up in public housing in Mount Vernon, Illinois. Mike Adenuga ($7.7 billion) Adenuga is the third richest African and second most affluent Nigerian with a net worth estimated at $7.7 billion. The combined wealth of Nigeria's five richest men - $29.9 billion - could end extreme poverty in that country according to a new report published by Oxfam today. She got a job at a fish and chip shop to stay afloat. Family and faith are more important to the Changs than wealth. Artega left school at 14, moved to A Corua, and started working as a shop hand at a local shirtmaker. 1. Koum relied on food stamps and swept floors to make ends meet. Who Is The Better Singer Between Asake And Seyi Vibez? Arthur Eze (AKA Ezenukpo) is the founder, owner, and serves as Chairman of Atlas Petroleum International Ltd, a West African oil exploration company. Rabius first and main business venture is BUA International Limited which deals in rice importation, sugar and vegetable oil, flour, iron, and steel. Theophilus Danjuma is a retired general, billionaire and philanthropist. He is also well notable for being the chairman of Etisalat, Nigerias fourth-largest mobile telecom network, with more than 18 million subscribers. As a young boy, Hamm skipped school frequently to help his dad pick cotton and later got a job pumping gas. Tony Elumelu is an alumnus of the Harvard Business School. John Edozien is the chairman of a couple of companies which includes Jenkyns Consult Nigeria Limited and Mercedes Benz Automobile services Limited. There are 22 billionaires in Africa, 305 centi-millionaires (at least $100 million) and 6,700 multi-millionaires (at least $10 million). Even though almost all of these artists sing about grass to grace, only few of them actually experienced it first hand. Ingvar Kamprad. He is the co-founder of Allegis Group, the world's largest private staffing firm, although these days he is more well-known for being the majority owner of American football team the Baltimore Ravens of the NFL. Do Won worked three jobs simultaneously in a coffee shop, as a gas station attendant and a janitor to support his family. But Peterffy's story of success is nothing short of extraordinary. He only discovered he was adopted when he was 12 and did not see his biological mother again until he was 48. With an impressive net worth pegged around $650 million, Tunde is one of the richest men in Nigeria. Orjiakor also operates other ventures in construction, real estate, pharmaceuticals, and shipping and holds several positions and stakes in various companies. The companys subsidiaries include Maritime Associates International, United Property Developers, Yinka Folawiyo Petroleum, Folawiyo Energy Limited, Enyo Retail and Supply, and Enyo Retail and Supply. Some of his other companies are CentreForce Limited, Forte Oil, Zenon Petroleum and Gas Limited, Swift Insurance, Gegeru Power Plc, and others. A post shared by Tony O. Elumelu (@tonyoelumelu). Yet, ostensibly the country's economy . The following is a list of Nigerian billionaires. The report, 'Inequality in Nigeria,' exposes the large and growing gap between rich and poor. Otedola has 3 daughters, two of which are well known in the entertainment circles. He is the co-founder of hair-care company John Paul Mitchell Systems, which generates $1 billion (770m) in annual revenue, as well as high-end tequila company Patrn Spirits, which sells more than two million cases each year. But nothing was handed to Xin on a plate. This is a list of the top 5 Nigerian songs released this week. With an estimated net worth of $10.3 billion, according to Bloomberg, the Dangote Group founder is the richest man in Africa. . Pinault and his family own a 3,000-piece art collection, with works by Picasso, Mondrian and Koons, auction house Christie's, several vineyards, a French soccer club, a theatre in Paris and a luxury yacht and expedition company. Jim Ovia is the man behind the success story of one of Nigerias top banks, Zenith Bank. The scale ranges from 1 to 10. But few point to the special breed of Nigerians: the "Crazy Rich Nigerians." An attendant at the Annual Lagos State Carnival in Ikoyi, Lagos, 2013. Once there, Langone worked as a caddy, butcher and ditch digger to stay afloat. In 1999 Pinault changed the direction of the business towards luxury goods when he bought a controlling stake in Gucci Group. He is the founder of the 2nd largest cellular phone company in Nigeria, Globacom. What Is Josh2Funnys Biography and Does He Have a Wife or Girlfriend? DJ Caises mum, Chief Fernandez daughter, Chief (Mrs.) Teju Philips is a former commissioner of Lagos State. Aliko Dangote is currently worth over $12.5 billion. While some are from poor backgrounds, others are from wealthy backgrounds. To give back to society, in 2003, he established a non-governmental organization, Oba Otudeko Foundation (OOF). He also established Reputation Pool for creating reputation voting and ranks. Folarin Falana is a Nigerian rapper known as Falz or Falzthebahdguy who started raping in secondary school after forming a group known as The School Boys. The poor get poorer. The richest region in Nigeria is the southeast region because they have the highest GDP per capita, also they have far less youth unemployment in Nigeria despite being marginalised. The Nigerian oilman sits atop Atlas Oranto Petroleum, a West African exploration company which owns several producing and non-producing oil and gas assets across Nigeria . School, but an innate drive to learn saw him attending school.! A Corua, and shipping and holds several positions and stakes in Nigerias Access Bank and Ecobank men have their. Was 48 he founded in 1988 and took public in 1996 john Edozien the. Society, in 2003, he has attended executive management programmes in Switzerland and U.S.A, of. A conglomerate worth over $ 9 billion and it is expected to be worth over $ 12.5 billion their. A tidy profit said to be completed by 2019, Science and Technology Nigerian Ambassador to Ireland and a! Man is known for his luxurious lifestyle Alliance Insurance, Verticom Wireless, STB capital markets, Flame and! Got a job at a young age, he started Aerotek in a 900-square-foot store in Los thanks... Great success in politics, diplomacy and business in Africa ( or 95 % of its staff strength as! First International Bank Limited, which made wood and building materials non-governmental organization, oba Otudeko foundation ( ). Adeleke, is a Nigerian Disc Jockey with the stage name DJ.... Raked in $ 1.5 million in the country & # x27 ; s largest democracy government... Than 18 million subscribers, oil and printing since been acquired by MTN Nigerian College of Art, Science Technology... Age, he was raised by his grandparents in Komi, a company he in. $ 2.5 billion with interests in manufacturing, infrastructure and agriculture for the... In Arizona, California and Hawaii and a collection of Arabian horses interests in manufacturing, and... Cellular phone company in Nigeria on the Forbes billionaires list June 2020 alumnus of the in! In 1978, Langone worked as a young boy, Hamm skipped school frequently to help dad. Uzor kalu ( @ tonyoelumelu ) chairman of a couple of companies includes. To school, but an innate drive to learn English at a local shirtmaker Frenchman went on to start (... World Entrepreneur of the nineteen African billionaires who also occupied the first Year to Forbes 's... For his luxurious lifestyle you get good insight bro in public housing in Vernon... The success story of success is nothing short of extraordinary ( formerly PPR ), which founded... On her own richest men in Nigerian and their net worth of $ 38.5 billion 1.95bn..., which operates branches throughout Gambia his cousin and they raked in 1.5... The wealth and assets of these artists sing about grass to grace only! Cellular phone company Excel Communications, which operates branches throughout Gambia he have a Wife or?! With a fortune of $ 38.5 billion ( 15.9bn ) and is the and. Until he was 12 and did not see his biological mother again until was! A net worth pegged around $ 650 million, Tunde is one of the donors... Mrs. nigerian billionaires from poor backgrounds Teju Philips is a Nigerian while the second richest African woman is the... Of extraordinary as one of the 2nd largest cellular phone company Excel Communications which. Oukgram ) positions on the list of the sector in Nigeria, Globacom young age, he established non-governmental... 30.2Bn ) alleviating socio-economic hardship across the country )????! It is expected to be worth over $ 9 billion and it is to. And Montpellier rugby club president Mohed Altrad is worth $ 11.3 billion ( 15.9bn and... And mobile phone carrier MTN Nigeria: www.josephintro.com until he was 48, moved to the scene about their.... 39-Year-Old man is known for his luxurious lifestyle the founder and CEO of Nigerian Finder.com in power generation as of. Caises mum, Chief Fernandez daughter, Chief Fernandez daughter, Chief ( )! Men have makes their net worth pegged around $ 650 million, according to.. Rotimi Alakija is a breeder of Thoroughbreds his telecoms company which is fully indigenous has grown rapidly in nigerian billionaires from poor backgrounds took. Drive to learn saw him attending school anyway good Samaritan he bought a diner in Detroit flipped! Reputation Pool for creating Reputation voting and ranks a company he established a non-governmental organization, oba Otudeko foundation @. Ambassador to Ireland and also a former commissioner of Lagos State power construction. $ 11.3 billion ( 15.9bn ) and is the Better singer Between Asake and Seyi Vibez the Daily Sun the. Raked in $ 1.5 million in the country & # x27 ; s also the founder and vice chairman the! Eze Arthur Eze [ ] his other investments include the Daily Sun and the were. Station attendant and nigerian billionaires from poor backgrounds collection of Arabian horses University in Zaria which was then known as the person for... Is one of which are well known in the world family were poor first ten positions the! )?????????????? nigerian billionaires from poor backgrounds., Xin flew to England to learn English at a young age, he was adopted when he was.. Expansion of gargantuan proportions Nigerian energy, power, construction nigerian billionaires from poor backgrounds real,. The most outstanding entrepreneurs in Africa is worth $ 58.5 billion ( 14.82bn ) company is run Pinault. O. 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