The wealthiest Yoruba men in Nigeria are prominent businesspeople and entrepreneurs who have had a significant impact on the lives of many people in the country.
They are well-known not just in Nigeria, but also around the world. You’ve probably heard the popular expression “Money dey for where e dey” on the streets or on the internet. This simply indicates that even in the midst of hardship, Nigerians can identify money and riches.
Nigeria’s Yoruba ethnic group is one of the country’s “major” ethnic groups. Their men excel in a variety of fields, including business, education, and the entertainment industry, among others.
As a result, there are a lot of Yoruba males in the country that are quite wealthy based on their worth. As a result, the top 10 wealthiest Yoruba men in Nigeria are profiled in this article, along with their net worth, enterprises, and sources of money.
Top 10 Richest Yoruba Men
1. Mike Adenuga
Born on the 29th of April 1953 at Ibadan, Oyo State. Mike Adenuga received his education at Ibadan Grammar School and Pace University in New York, New York. Working as a cab driver helped him pay for his tertiary education in the United States. In 1991, Adenuga began his career as an entrepreneur.
Mike is the CEO and creator of Glo, a telecommunications company that also happens to be one of Nigeria’s largest communication networks. He’s also in the oil sector in Nigeria, owning oil blocks and working as the CEO of Conoil, one of the country’s largest oil businesses.
Net Worth: $6.3 billion
2. Femi Otedola
Femi Otedola was born on November 4, 1962, in Lagos, Nigeria. He is an entrepreneur and the former chairman of Forte Oil PLC, a fuel importer.
Zenon Petroleum and Gas Ltd was founded by Otedola. In addition, he is the owner of several other companies in the shipping, real estate, and banking industries. As part of Nigeria’s power sector deregulation, he has invested in power generation.
Net Worth: $1.8 billion
3. Jimoh Ibrahim
On February 24, 1967, Jimoh Ibrahim was born. He is an accomplished lawyer, businessman, philanthropist, and politician.
He is the chairman and chief executive officer of Global Fleet Group, a conglomerate created in 2003. Global Fleet Group is a multi-billion-dollar corporation with interests in oil and gas exploration, periodicals, insurance, airlines, hotels, and real estate, among other things.
Jimoh Ibrahim is a Nigerian from the state of Ondo. He received his law degree from Obafemi Awolowo University in Ile Ife, Osun State. He also graduated from Obafemi Awolowo University with a Master’s degree in Public Administration.
Net Worth: $1.2 billion
4. Tunde Folayiwo
Tunde Folawiyo was born on April 12th, 1960, in Lagos, Nigeria. He received a bachelor’s degree in economics from the London School of Economics in 1980. In 1984, Folayiwo earned a bachelor’s degree in law. In 1985, he received a Master’s degree in law from University College London.
Folayiwo is the managing director of the Yinka Folawiyo Group, an agricultural, real estate, energy, maritime, and engineering conglomerate. Yinka Folawiyo Petroleum is the company’s oil exploration arm. He also owns minority holdings in Nigeria’s Access Bank and the mobile phone company MTN Nigeria.
Net Worth: $650 million
5. Oba Otudeko
Oba Otudeko was born on August 18, 1943, to a royal family in Ibadan, Oyo State, Nigeria, making him an Omoba of the Yoruba people. Accountancy was Oba Otudeko’s major at Leeds College of Commerce in Leeds, Yorkshire, United Kingdom (which is now part of the Leeds Beckett University).
Honeywell Group was founded by Otudeko, who also serves as its chairman. He is the chairman of FBN Holdings Plc and one of Nigeria’s wealthiest Yoruba men. Oil and gas, flour milling, real estate, and marine transportation are among his commercial interests. Otudeko also worked for the Nigerian Stock Exchange and Fan Milk in various capacities.
Net Worth: $650 million
6. Prince Samuel Adedoyin
Samuel Adedoyin was born in Lagos State in 1935 and raised in Kwara State. Dr. Adedoyin was up in Agbamu, a rich and diverse social and cultural environment. Adedoyin is the CEO and founder of Doyin Investment Limited, a company that is involved in manufacturing, pharmaceuticals, banking, real estate, drinks, and other areas. He is also considered one of Nigeria’s wealthiest Yoruba men.
Net Worth: $540 million
7. Dele Fajemirokun
Dele Fajemirokun is the son of late Henry Fajemirokun, a wealthy businessman who formed the Henry Stephens Group and was a high chief. On April 16, 1950, he was born. He took over his father’s firm and grew it into a conglomerate of 19 businesses.
Dele is a Nigerian businessman, entrepreneur, investor, venture capitalist, and philanthropist, just like his father. The University of Ife awarded him a Business Economics degree, and the University of Los Angeles awarded him a Doctorate Degree in Business Administration.
Food Concept and Entertainment Plc’s chairman is Chief Dele Fajemirokun. He also serves as Chairman of AIICO Insurance Nigeria Plc, Xerox HS (Nigeria) Limited, Kings Guards Limited, Logic Sciences Limited, Spar Aerospace, GS Telecom, and other companies.
Net worth: $500 Million
8. Fola Adeola
Nigerian businessman and investor Tajudeen Afolabi Adeola He is the Chairman and Founder of the FATE Foundation, as well as the Founder and Chairman of Guaranty Trust Bank. He is also a member of the Commission for Africa. On the 10th of January, 1954, he was born. Adeola attended Methodist Boys High School in Lagos for his secondary schooling. In 1975, he graduated from Yaba College of Technology with a diploma in accounting.
Fola is also one of Nigeria’s wealthiest Yoruba men, having co-founded GTBANK with his buddy Tayo Aderinokun in 1990, one of the country’s most powerful commercial banks. He was managing director until July 2002, when he retired and passed over the reins to Tayo Aderinokun, his successor.
The Gambia, Sierra Leone, Ghana, Liberia, and the United Kingdom are all home to GTBANK.
Net Worth: $83 million
9. Chief Ade Ojo
Chief Michael is a businessman and the president and CEO of Elizade Motors Limited, which sells and fixes Toyota vehicles. Elizade University is also owned by Ade Ojo. On the 14th of June, 1938, he was born. He went to Ilara-St Mokin’s Michael Anglican School and then to Owo’s Imade College, where he earned his West African School Certificate.
In 1961, Ojo earned a bachelor’s degree in Business Administration from the University of Nigeria, Nsukka.
He also serves on the boards of other businesses. Custodian & Allied Insurance Plc, FCMB Plc, ECOBANK Plc, Toyota Nigeria Limited, and Moore House Sofitel Company Limited are among the companies involved. Micheal is also considered one of Nigeria’s wealthiest Yoruba guys.
Net Worth: $5 million
10. Molade Okoya Thomas
CFAO Nig and six other French enterprises were led by Chief Molade Okoya Thomas. He attended Columbia University in New York City and Balham and Tooting College of Commerce in London for his academic education.
He was known as Lagos’ Asoju Oba, Ijebu-Babasuwa, Remo’s and Ife’s Odofin.