nigerian billionaires from poor backgrounds

Using the Forbes Billionaires List 2018 as a guide, and starting from the least rich to the richest, here are some of the wealthiest people on the plant who survived a challenging upbringing and went on to build huge billion-dollar empires. The BUA Group has the second largest sugar refinery in the country. The 99 percent have only the. By. He worked as a bartender and even sold blood throughout college. Forever 21 now has 790 stores spanning 48 countries. Bryant Orjiako popularly known as ABC Orjiako had an interesting career path prior to becoming a billionaire. With an impressive net worth pegged around $650 million, Tunde is one of the richest men in Nigeria. Hes currently the chairman of the bank. as an infrastructure engineer where he worked for nearly nine years before leaving aged 30 with enough cash to launch his own business. This firm would later metamorphose in to what is now known as the Dangote Group. Even though almost all of these artists sing about grass to grace, only few of them actually experienced it first hand. He is also known for his philanthropic contributions. 1. 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. Lowy was born in Slovakia, then Czechoslovakia, in 1930. For many, hardships started . Thomas Peterffy has a net worth of $20.3 billion (15.9bn) and is the richest person in the state of Florida. Read more about Oprah's incredible rags-to-riches story, Ellison dropped out of college and had a few jobs before starting his first software company SDL in 1977 with two business partners. There are only about 2,208 billionaires in the world, with America leading the way. He has donated more money than any other living Russian, giving away $2.5 billion (1.9bn) to the Chukotka region. Emeka Offor is a Nigerian serial businessman, oil magnate, and philanthropist. Ellison moved to Chicago with his adoptive parents where he attended school. Theophilus Danjuma amassed his mouth-watering fortune from shipping and petroleum. Peterffy was born in Budapest, Hungary in 1944 in a hospital basement during a Russian air raid. Emmanuel Ojei is the chairman of Nuel Ojei Holding Limited. He was involved in the Nigerian coup in July 1966. He was born Ayoola Otudeko and he trained as an accountant at the Leeds College of Commerce in the United Kingdom which is now the Leeds Beckett University. They started from the bottom, but their hard work has paid off. He received his Bachelors degree at the Northwestern Oklahoma State University after which he went on to obtain a Masters degree at the Pace University in New York. Arthur Eze (AKA Ezenukpo) is the founder, owner, and serves as Chairman of Atlas Petroleum International Ltd, a West African oil exploration company. Media Mogul Oprah Winfrey, worth $2.9 billion (2.27bn), is an American media executive, talk show host, actress, producer, and philanthropist. Orji Uzor Kalu owns a foundation that provides scholarships for undergraduates and anti-malaria treatments to his community. In 2019, he was appointed as Special Assistant on Lagos Liaison to the governor of Imo state. Abramovich became friends with one of his countrys most influential individuals and became a big player in top circles. Knight of Saint Christopher of the Church of Nigeria, Anglican Communion. Of. Get the latest money-saving tips, expert strategies for boosting your wealth and generally-useful financial info sent straight to your inbox by entering your email address below. He would later venture in to the oil and gas industry. Nigerian businessman Emeka Okonkwo, popularly known as "E-Money", is an entrepreneur who is the chief executive officer of Five Star Music. Billionaires and millionaires in the US include people from all over the world. He is the founder of the Honeywell Group. As CEO of Las Vegas Sands Corporation, he made his money in creating dazzling casinos and hotels all over the world. On the list and in second place, according to the Al-Iqtissadi site, is Brazilian businessman Joseph Safra, 80, who comes from a Syrian family, with a value of 25.2 billion dollars, making him the richest banker in the world. . Currently, He is the chairman of the multi-billion naira company, which has become Nigerias leading food, manufacturing, mining, and infrastructural conglomerate. Eventually, he established the SLOK Holding which is conglomerate comprising Ojialex Furniture Company, SLOK Nigeria Limited, SLOK United Kingdom Limited, Adamawa Publishers Limited, SLOK Vegetable Oil, Aba, SLOK Paper Factory, Aba, SLOK United States Incorporated, SLOK Ghana, Togo, Cotonou, Guinea, South Africa, Liberia, Botswana, SLOK Korea, Supreme Oil Limited, SLOK Airlines, Sun Publishing Limited, and First International Bank Limited. 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. At that time he traded palm oil which he bought from the South East and sold to the market in the North. His journey into becoming a billionaire began when he established a small trading firm in 1977. Abdusalams company acquired the Nigerian Oil Mills Limited and also acquired a controlling stake in the Cement Company of Northern Nigeria some years ago. Am I not the richest guy in Africa, this is not fair, I want start business with my boss Alh. He is the founder and CEO of Nigerian Finder.com. Lists 2022. Elections in Africa's largest democracy: government candidate takes the lead in Nigeria 2023-02-28T08:28:30.564Z. If you feel we missed out on any other artist, kindly tell us below in the comment section. Offshore accounts protect these crooks." Ultimately, Pakistan's top court removed Sharif from office as a result of an inquiry sparked by the Panama Papers. Harold Hamm is the 100th richest person in the world and is worth $14.1 billion (11.1bn), due to his lucrative company Continental Resources, which produces more than 200,000 barrels of oil a day and is known for pioneering horizontal drilling and hydraulic fracturing (better known as fracking) in the Bakken region of North Dakota. He is also the Chancellor of the Federal University of Agriculture, Abeokuta. Image credit Sunday Alamba via The Commonwealth Flickr CC. Veteran director Bharathiraja meets Kamal Haasan; Varalaxmi Sarathkumar's 'Kondraal Paavam' trailer; Golden Truth: Eight Things to Know Before Buying Gold Tony Rex Idaminabo. Features The world's richest families, and how they got rich Features The world's richest actors might not be who you expect Features The one man richer than Elon Musk, and his luxury life Features 15 countries that have cashed in on the war in Ukraine Savings and ISAs Win prizes AND earn interest: top Premium Bond alternatives After dropping out of college and a stint in the army, Lauren started work as a sales assistant at Brooks Brothers department store. Mike Adenuga had his primary and secondary education in Nigeria before proceeding to the United States to study Business Administration. Ibeto has portrayed his humanitarian gestures by lifting many individuals to become top businessmen in the country, such as Innocent Chukwuma, the founder of Innoson Group. In 2016, the company recorded annual revenue of annual $57.71 million. His sojourn in business started when he successful ran the familys printing business in the 1980s. All Rights Reserved. Nigerians' anger and frustration are deservedly directed to their government. The poor get poorer. You come up against an obstacle and you have to find a way of moving forward. Going further in his philanthropic gestures, Arthur Eze singlehandedly built a medical research unit for the Nnamdi Azikiwe University. SEPLAT made history as Nigerias first indigenous oil and gas company to list on the London Stock Exchange, and its dual-listing on both the Nigerian and London exchanges valued it at $1.91 billion. Olamide Vs Dagrin Who Is The Best Yoruba Rapper Of All Time? As part of his philanthropic gestures, Jimoh in 2019 donated N40 million to support the Ondo State government to fight against the Covid-19. Zara soon became very successful due to its quick turnaround of stock and stores opened all around the globe. The Nigerian billionaire businessman amassed his wealth from the telecommunications sector and oil industry. The Governor of Ebonyi State, Dr. Umahi, named a major road after Arthur Eze. To date, the company has developed over 60 million square feet of land. 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. It would be recalled that Dickens was the second National Vice President of Urhobo Progress Union. He was later signed by Starboy Entertainment in 2013. As a group, the continent's 18 billionaires are worth an estimated $84.9 billion - a 15% increase from twelve months ago and the most since 2014, when a larger number of billionaires-28-were. Aliko Dangote. Another one, Elizabeth Temi is a style blogger and an aspiring designer. As one of the most outstanding entrepreneurs in Africa, he also sits on many boards. 2013- Honorary Doctorate of Humane Letters from Lynn University, Florida, 2017- Honorary Doctorate in Business Adm. from University of Uyo, 2018- Honorary Doctorate in Mgt Science from Nigeria Defense Academy. The following is a list of Nigerian billionaires. According to the recently released Forbes list in 2017, Mike Adenugas net worth is estimated at $5.8 billion and he is the third richest person in Africa. He is a renowned businessman, co-founding global giant Westfield Corporation, which has shopping centres in Australasia, the US, UK and Europe. Apr 28, 2018, 1:51 PM. She's 31, she has five children born by the "billionaire" kidnapper, and she has been by his side since the age of 17. Atlas Oranto Petroleum owns equity and working interests in several acreages across the Gulf of Guinea; this includes countries like Nigeria, Ivory Coast, Sierra Leone, Liberia, Ghana, Mali, Senegal, Equatorial Guinea, Gambia, and the Republic of Benin. The Niger delta is a vast low-lying region through which the waters of the Niger River drain into the Gulf of Guinea. Besides the wealth and fame he has gained as an oil magnate, Peters is also famous for his philanthropic activities, awards, and recognitions he continues to receive through them. Kamprad bought matches in bulk from capital Stockholm to sell to his neighbours . With an estimated net worth of $10.3 billion, according to Bloomberg, the Dangote Group founder is the richest man in Africa. Howard Schultz is an American self-made billionaire, most famous for making coffee chain Starbucks the global success story that it is. Ortega was born in 1936, just before the outbreak of Spains Civil War, and grew up in Leon where his father was a railway worker. 1. A post shared by Onu Ndi Igbo (@voiceoftheeast). Thank you! Among many others, he founded the Joseph Agro Foundation, a foundation that focuses on improving the lives of the farmers, especially those living in rural areas. His philanthropic activities also go beyond the shores of Nigeria. His other investments include the Daily Sun and the New Telegraph newspapers. With an estimated worth of $1.4 billion, Tony Elumelu is one of the richest men in Nigeria. 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. Lauren, the youngest of four siblings, was born and brought up in the Bronx, New York City, to Ashkenazi Jewish immigrants. Xin was determined to learn however and would attend evening school after work. Tony Elumelu has investments in financial services, energy, real estate, hospitality, agribusiness and the healthcare sectors through his investment company, Heir Holdings. He is well known to be the Chief Executive Officer and controlling shareholder of Forte Oil, with a 78% stake. (See the Top 10), 5 Richest Oil Producing States in Nigeria, Private Jets in Nigeria & Their Owners 2023, Richest Musicians in the World: 2023 Top 10, 10 Richest Kings in Nigeria & Their Net Worths (2023), 10 Richest Female Artistes in Nigeria & Net Worth. Adenuga also owns stakes in various companies in Nigeria and beyond, including Sterling Bank and Stanbic IBTC Bank. America will have more Black Presidents. He is the son of Billionaire and industrialist, Taiwo Afolabi. Super Eagles winger, Simon Moses was in action as Nantes book a place in the next round of the Coup de France after defeating Lens 2-1 on Wednesday. His net worth is estimated at $550 million, according to Forbes. The billionaire also has interests in other business ventures, which largely contributes to his net worth. Date of birth: 24th February 1967. Beyond Con Oil, Mike Adenuga further proved his mettle as an astute businessman when his company, Globacom was issued a conditional GSM licence in 1999. For Schultz, it was crucial to build a company with soul. Recap of the Top 20 Richest Men in Nigerian and Their Net Worth. Nigeria is one of the largest and most populated countries in Africa, priding itself in having some of the richest men in Africa and the world. Winfrey was determined to break away, earning herself a scholarship to Tennessee State University and becoming the first African American TV correspondent in the state at just 19. He is the younger brother to Shina Peller, an entrepreneur, industrialist and politician. One day, Lowys father Hugo disappeared; Lowy would later find out that he had been taken to Auschwitz and killed. Hakeem is a renowned philanthropist and one of the largest donors to the African Leadership Academy. Igho Sanomi is a recipient of multiple awards and honors. Apart from her wealth, Folorunso Alakija is known for her philanthropic activities. He is said to have an estimated net worth of $1.5 billion according to Forbes. In the late 1980s he started his casino business and began to make serious money. How did he do it? The third on the list of 20 richest men in Nigeria is the popular Femi Otedola. He is most likely to be seen on his yacht, Eclipse, which he bought for nearly $400 million (309.5m) in 2010 and is the world's second-largest yacht, or cheering on Chelsea, the English soccer club he owns. But Peterffy's story of success is nothing short of extraordinary. L.A.X is a Nigerian artist with the birth name, Damilola Afolabi. In March 2018 Li announced plans to retire as chairman of CK Hutchison Holdings and CK Asset Holdings and his son Victor will take over the conglomerate, which now has 323,000 employees and operates in more than 50 nations. He recently invested in power generation as part of the liberalisation of the sector in Nigeria. Bola Tinubu Biography: Life Story and Age Accomplishments of Asiwaju of Lagos State, How To Use GTBank Whatsapp Number, Live Chat and Customer Care Email Address, A Look At Arthur Ezes Net Worth, Mansion and Private Jet, Who Is the Richest Man In Anambra State? The report, 'Inequality in Nigeria,' exposes the large and growing gap between rich and poor. Forbes.com has a study on how difficult it was for each billionaire listed to amass their fortune. Meet Helen Pauls Husband Femi Bamisile and Children. He may have worked with world leaders, but now Nigerian billionaire investor Tony Elumelu is focusing on those yet to turn their business dream into reality. He was involved in the military . This gave him the drive to start his own company, Cheung Kong Industries, which manufactured plastics. Four Syrian businessmen have been named of the Forbes Middle East rich list for 2019, which includes 42 billionaires. Although Dangote was born into a wealthy family, he hasnt rested on his soars due to his familys riches. The Cure for AIDS will be discovered in Africa by Africans. Luxottica founder Leonardo Del Vecchio is one of the richest men in not just Italy but the entire world, worth $23.1 billion (18.02bn). But the founder of the preppy all-American clothing empire grew up in less than comfortable surroundings. But Nigeria leads the way with 20, more than twice as many as any other nation here. Many in this exclusive club had a running start on wealth thanks to affluent families and a first-class. He is the founder and Chairman of Atlas Oranto Petroleum a reputable company with assets in Nigeria, Liberia, Guinea and the Gambia. In 1995, Xin and her husband founded property development company SOHO China. We have seen many numbers of children of politicians or business moguls break into the music scene with the influence or fortune from their families. The following is a list of Nigerian billionaires. Bill gates and Zucker Who Was Julius Agwus Wife and What Happened to His Marriage? In April 2018, Koum announced his impending departure from Facebook HQ in California, however he continues to work one day a month and banks close to half a billion dollars every financial quarter, stalling until his remaining stock options vest. Li hasnt always been so blessed. He is the founder and CEO of The Ibeto Group, a group of companies that have interests in automobile spare parts, cement production, energy, hospitality, petrochemicals, and real estate. He founded Credit Transactions and Investments Limited (CTIL), an energy consulting firm. He began apprenticing at a car and eyewear parts factory at age 14 to put himself through design school. His father was the former Nigerian Ambassador to Ireland and also a former minister of Aviation. Hakeem Belo-Osagie is a petroleum economist and an established businessman. Rotimi Alakija is a Nigerian Disc Jockey with the stage name DJ Xclusive. Capitalising on wholesale closeouts, they bought merchandise for cheap and hit $700,000 in first-year sales, prompting them to open a new store every six months. Pinault eventually dropped out, yet this didnt affect his business smarts. Fashion designer Ralph Lauren has an estimated wealth of $6.2 billion (4.9bn) and comes in at number 281 on the Forbes Billionaires List of 2018, making him one of the richest clothing moguls on the planet. Benedict Peters is the founder of Aiteo Group, a conglomerate with primary interest in energy. Of 55 billionaires in Africa, Nigeria boasts 23 while South Africa and Egypt each have eight. EY World Entrepreneur of the Year 2015 and Montpellier rugby club president Mohed Altrad is worth $2.5 billion (1.95bn). Dangote has investments in Nigeria as well as countries like Benin, Ethiopia, Senegal, Cameroon, Ghana, South Africa, Togo, Tanzania and Zambia. Muhammadu Buhari, Muhammadu also spelled Muhammad, (born December 17, 1942, Daura, Nigeria), Nigerian military leader and politician who served as Nigeria's head of state in 1984-85 and was democratically elected president in 2015. 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 and chairman of Cosmos AG oil. While retaining their spot as the most industrious tribes in the country. Kering now owns fashion brands Saint Laurent, Alexander McQueen and Stella McCartney, to name a few. Chinese billionaire businesswoman Zhang Xin has an estimated worth of $3.6 billion (2.8bn) and has been called the woman who built Beijing due to her groundbreaking career in property. His business interest is primarily in oil and he is the chairman of South Atlantic Petroleum (SAPETRO). Born in Kano in 1960, Abdusalam Rabiu is one of the richest men in the country thanks to his investment in the BUA Group. Ellison has stated that he did not enjoy school and did not excel academically. Trained as a lawyer, Hakeem Belo-Osagie is also a graduate of the prestigious Harvard Business School. He was the first person in his family to attend college. After borrowing $900 from a good Samaritan he bought a diner in Detroit and flipped it for a tidy profit. Arthur Eze Arthur Eze [] Ingvar Kamprad. A post shared by Billionaires.Africa (@billionaires.africa). He is alumnus of Harvard Business School and is well known to have introduced many innovations to the banking industry. In 1963 the Frenchman went on to start Kering (formerly PPR), which made wood and building materials. The Nigerian international, who came on in the 74th minute for Guessand, had a decent performance. David Murdock, worth $2 billion (1.56bn), is the chairman of privately-held Dole Food Products and Castle & Cooke. The company has about 2000 Nigerians (or 95% of its staff strength) as its employees working in various capacities. An avid horse racing fan, Troutt owns WinStar Farm in Kentucky and is a breeder of Thoroughbreds. With a net worth of over $12billion in 2018, Aliko Dangote is the richest man in Nigeria and entire Africa. https://www.instagram.com/p/CIydwaoDEtG/?utm_source=ig_web_copy_link. 9. On "second base," households wealthy enough to run a business big enough to generate inheritances over $1 million, the new UFE study found another 11.5 percent. Instructively, six out of the 11 billionaires produced by Nigerians - Mike Adenuga, Folorunsho Alakija, Theophilus Danjuma, Mohammed Indimi, O.B. Jae C. Hong/AP. His father was a truck driver and the family were poor. The scale ranges from 1 to 10. Oba Otudeko has an estimated worth of $650 million. As we shall see, most of the winners of the BBNaija show came from humble backgrounds (as their fellow housemates) and this is not a coincidence since 40% of Nigerians (83 million people) are below the poverty level as at 2019/2020 (Nigeria Bureau of . The report, 'Inequality in Nigeria,' exposes the large and growing gap between rich and poor. His company contributes to improving the nations economy and has provided jobs to thousands within its circle. Asake Or Fireboy DML Who Is Olamides Best Signee So Far? Lowy said: Never give up! 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. No less than 10 African countries boast billionaires, the report says. According to the latest release by Forbes, Femi Otedola has net worth of $2.3 billion which puts him at the third position in terms of wealth in Nigeria. John Obi Mikel - $45 million John Obi Mikel poses before the Russia 2018 World Cup Group D football match between Nigeria and Iceland. Also among the richest men in Nigeria is Jimoh Ibrahim, a well-established Nigerian lawyer, politician, businessman, investor, and philanthropist. Be the first to get hottest news from our Editor-in-Chief . They produced the highest local content and manufacturing and has the highest diaspora community across the globe. Dr. Emmanuel I. U. Ojei is a highly successful industrialist and investor who serves as the Chairman and managing director of Nuel Ojei Holding Limited. He is also the CEO of Pacific Holdings Limited with an estimated net worth of almost a billion dollars. Topping the list as the richest man in Nigeria, Aliko Dangote is today worth a jaw-dropping net worth of $13.4 billion. Source: Oil. But Ortega came from very humble beginnings. 2012- Officer of the Federal Republic of Nigeria. His humanitarian services have also gone ahead to earn him some prestigious awards. Furthermore, the business tycoon is the owner and CEO of Conoil, one of the leading oil and gas companies in Nigeria. Forte said its shares rose in 2014 due to new investments in power generation and distribution. He is also well notable for being the chairman of Etisalat, Nigerias fourth-largest mobile telecom network, with more than 18 million subscribers. Factory PR's NYC & LA offices seek Public Relations Interns for Summer 2023 which runs from June 5th through August 18th. Not too long after their company took off, Mitchell died of cancer and DeJoria took over. They go to early morning prayer everyday and have the bible verse John 3:16 printed on the bottom of their company's shopping bags. Slok is a $2.5 billion (annual revenues) West African conglomerate with interests in shipping, banking, oil trading, manufacturing, and the media. Abdusalam attended the Capital University in Columbus, Ohio in the 80s before returning to the country to oversee the family business. He is also the chairman of FBN Holding Plc. Besides this, Tunde has an interest in art. She got a job at a fish and chip shop to stay afloat. Mike Adenuga ranked 2nd in the list of richest men in Nigeria. Abramovich spent his early life in a region far-removed from the riches of his current home in Londons Knightsbridge. Lens took a shock lead in the 28th minute through Seko [] In 1988 Kenny Troutt founded long-distance phone company Excel Communications and in 1996 Troutt took the company public. Many of the worlds richest people came from humble backgrounds to become billionaires, with childhood poverty, war and other issues driving them on to succeed. This group is one of the largest conglomerates in Nigeria with interests in Agriculture, Food processing, Maritime, Real Estate and the Transport industry. Ambrose Bryant Chukwueloka Orjiako, popularly known as ABC Orjiako, is the chairman and co-founder of SEPLAT, one of Nigerias largest petroleum development companies. Her son recently got married in a ceremony that was reportedly lavish. His career in oil has also seen him delve into American politics, landing him the role of national energy adviser to Mitt Romneys presidential campaign in 2012. Telecommunications genius and self-made billionaire Kenny Troutt has now retired but not before making a cool $1.4 billion (1.09bn) fortune. He is the chairman of the Yinka Folawiyo Group, a large conglomerate with interest in energy, agriculture, shipping and real estate. He is the owner and Chairman of The Chrome Group, a company he established in 1994 that employs over 800 staff members. The company was founded in 1991. Aliko Dangote.Dukes friend. DJ Caises mum, Chief Fernandez daughter, Chief (Mrs.) Teju Philips is a former commissioner of Lagos State. He would later venture in to the oil and gas industry. He subsequently ventured into politics, serving as a Minister of Defense under President Olusegun Obasanjo. Additionally, he is a member of the Honorary International Investor Council as well as the Digital Bridge Institute (DBI). In 1967, he started making ties in a small office in New York and the Ralph Lauren Corporation was born. The group also owns sports brand PUMA and the $19 billion (14.82bn) company is run by Pinault's son. Net worth: $1.2 billion. The wealth and assets of these Igbo business men have makes their net worth run in dollars. He founded Muhammadu Indimi Foundation (MIF) with the aim of helping families and individuals in Northern Nigerian states out of hunger, poverty, and illiteracy. As a result of his participation, he was suspended by the school authorities but he never returned as he went on to building several successful businesses. Despite his tough upbringing, Koum worked hard at school. After serving in World War II, Murdock found himself homeless with little more than a dollar to his name. Koum relied on food stamps and swept floors to make ends meet. Arthur Eze is one of the wealthiest men in Africa. John Edozien is the chairman of a couple of companies which includes Jenkyns Consult Nigeria Limited and Mercedes Benz Automobile services Limited. French tycoon and luxury fashion brand founder Francois Pinault is worth an incredible $30.7 billion (23.95bn). Encouraged by his parents, Schultz got a place at Northern Michigan University via an athletic scholarship.

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