Richest Yoruba Men in Nigeria: Yoruba is one of Nigeria’s major ethnic groups, occupying the country’s southwestern region.
The Yoruba ethnic group also lives in Benin and Togo and speaks the Yoruba language. As a result, they are predominantly from West Africa. Yorubaland in Nigeria is well-known for its commercial effectiveness.
The region is endowed with human capital, which has greatly aided the African continent’s rise.
Nigeria’s Yoruba land is a land of industrialization and commercial activity. This ethnic group has produced numerous wealthy individuals who have amassed generational wealth, and their economic significance has become a stake in Nigeria’s and even West Africa’s economies.
The public can see these men’s wealth through their net worth, lifestyle, and standard of living.
They are primarily businessmen, and their significant investments are well known. The majority of them are seasoned philanthropists; one of the other ways they give back to society.
Overall, they are well-liked people, as their wealth has no bearing on the popularity of their identity.
Top 10 Richest Yoruba Men In Nigeria
1. Mike Adenuga: Chief of Staff
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Mike Adenuga Jr. is a well-known Nigerian billionaire. He is the second richest person in Nigeria, the fourth richest person in Africa, and one of the world’s richest black people. Mike Adenuga is a philanthropist and businessman.
He is the owner of Globacom, Nigeria’s second-largest telecommunications company that also operates in Ghana and Benin; a network with over 55 million subscribers. He is also the chairman of Conoil, one of the largest oil exploration companies in Nigeria.
Chief Mike Adenuga was born in Ibadan, Oyo State, on April 29, 1953. According to Forbes, Mike Adenuga’s net worth is estimated to be 6.2 billion USD in 2023.
2. Femi Otedola
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Femi is the father of Cuppy, a popular Nigerian DJ. A list of wealthy men would be incomplete without Femi Otedola. He is a philanthropist and a billionaire businessman.
Femi Otedola was born on November 4, 1962 in Ibadan, Oyo State, where he currently resides. Femi works in the energy industry, specifically oil and gas. He is the founder and former chairman of Zenon Petroleum and Gas Ltd.
Femi’s Centre Force Company Ltd is involved in finance and trading. He is also involved in shipping (via his Sea Force shipping company Ltd), real estate investment, and hotel management. Forbes estimates Femi Otedola’s net worth to be 1.8 billion USD.
3. Dr. Jimoh Ibrahim
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Dr. Jimoh Ibrahim is a lawyer, businessman, and politician. He is a well-educated man with degrees from Nigerian and international institutions ranging from bachelor’s to doctorate level. Jimoh is well-known for his generosity.
On February 24, 1967, he was born in Ondo State, Nigeria. Global Fleet Group’s Chief Executive Officer is Jimoh Ibrahim. Oil and gas, real estate investments, insurance, aviation, hotels, banking, resorts, publishing, and other investments are among Jimoh’s sources of income. According to Forbes, he is worth 1.1 billion USD.
4. Tunde Folawiyo
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Tunde Folawiyo is the Managing Director of the Yinka Folawiyo Group. He is a Nigerian billionaire businessman who was born on April 12, 1960.
The Yinka Folawiyo Group is a conglomerate with subsidiaries in the energy, shipping, agriculture, and real estate industries. His father founded the company, and he took over after his father died.
Tunde Folawiyo also dabbles in banking, having served as the chairman of Coronation Merchant Bank. He is the current director of MTN Nig.
Tunde is also a barrister in England, where he practised for a time before venturing into business. Tunde’s net worth is estimated to be 650 million USD by Forbes.
5. Oba Otudeko, CFR:
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Oba Otudeko is a wealthy Yoruba man as well as a wealthy Nigerian. He founded the Honeywell Group. He is a banker, a Chartered Accountant, and a well-known Nigerian businessman descended from royalty.
He had been with the bank for 23 years. Oba Otudeko joined the CBN board of directors after retiring. He was born on August 18, 1943, in Ibadan, Oyo State.
Pivot Engineering Ltd. was also founded by Oba Otudeko. His company dabbles in oil and gas, marine transportation, real estate, and flour milling. Oba Otudeko has received numerous honours, including honorary doctorate degrees, in the course of his business.
His net worth is estimated to be 550 million US dollars.
6. Prince Samuel Adedoyin
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Samuel Adedoyin is a well-known Nigerian billionaire industrialist and philanthropist. He is the Doyin Group’s chairman.
Samuel Adedoyin was not born lucky; he did not come from a wealthy family. He worked hard from the beginning to achieve his wealth. He began with small businesses and then expanded into importation.
He made leather bags and shoes, soaps, detergents, beverages, food, agricultural produce, and pharmaceuticals. He is also a real estate investor. Prince Samuel Adedoyin’s net worth is estimated to be 540 million USD.
7. Dele Fajemirokun
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Dr. Oladele Fajemirokun, a billionaire businessman and philanthropist, is one of the richest Yoruba men in Nigeria and one of the richest people in Nigeria.
He was born in the state of Ondo in 1949. He is a venture capitalist, an investor, and a business owner. Dele owns stock in several companies.
He is the popular Chicken Republic, one of Nigeria’s largest eateries today. He also serves as the chairman of AIICO Insurance Co. Dele Famemirokun’s net worth is estimated to be $500 million USD.
8. Chief Michael Ade Ojo
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Chief Michael Ade Ojo is a Nigerian businessman, philanthropist, and entrepreneur. He was born on June 14, 1938.
He was born in Ilara-Mokin, Ondo State. He is the founder of the Elizade Group of Companies, a subsidiary of which is Elizade Motors, which specialises in the distribution of various brands of automobiles until the company specialised in Toyota distribution.
He established Elizade University in Ondo State. He sits on the boards of several companies, including Toyota Nigeria Ltd, Nigeria and Crown Drinks Ltd, FCMB, Eco bank, Custodian and Allied Insurance Plc, Moore Sofitel Company Limited, and others.
Michael Ade Ojo does not appear to be a showy person. His net worth is unknown, but it is estimated to be around $2 billion USD.
9. Fola Adeola, OFR:
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Fola Adeola, the founder of Guaranty Trust Bank, is one of Nigeria’s richest Yoruba men.
He is both the chairman of MainOne and the founder of the FATE Foundation. He also serves on several corporate boards.
Fola Adeola is a Certified Public Accountant. He was born on January 10, 1954. His net worth is estimated to be 550 million US dollars.
10. Sulaiman Adebola
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Sterling Bank Plc’s former chairman was Sulaiman Adebola. He is an Ogun State billionaire philanthropist and businessman. Essay Holdings Ltd, of which Rites Foods Ltd is a subsidiary, was founded by Sulaiman Adebola.
Sulaiman is also interested in agriculture. In Ososa, Ogun State, he established the Sulaimon College of Education. The philanthropist’s net worth is estimated to be $400 million USD.
Conclusion
Yoruba land in Nigeria has been blessed with the efficacy of industrialization and commercial activities, and it has produced primarily wealthy Nigerian men. Of course, this is not an exhaustive list of rich men in Yoruba, Nigeria, but rather the top ten richest.