Top 11 richest Yoruba men in 2023

Yoruba is one of the finest tribes in Nigeria and by extension, the men from the tribe are among the wealthy men from the country.

Most of these Yoruba men have acquired their riches through their business ventures and their participation in Nigerian politics.

Following a content on the wealthiest kings in Yorubaland, here are the top 11 richest Yoruba men in Nigeria, along with their net worth and the cars they possess.

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Mike Adenuga –  $5.7 Billion

Securing the top spot among the wealthiest Yoruba men in Nigeria is Mike Adenuga, boasting a net worth of $5.7 billion. He is the owner of Globacom, a prominent mobile phone network in the nation and the third-largest operator in Nigeria. Additionally, Adenuga is the owner of Conoil Producing, a flourishing oil exportation enterprise.

Among the vehicles possessed by the Nigerian billionaire are; Armoured Bentley Mulsanne, Mercedes Maybach S-Class, Mercedes-Benz AMG C63, Rolls-Royce Phantom and Two Private Jets.

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Top 11 richest Yoruba men in 2023
Mike Adenuga

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President Bola Ahmed Tinubu – $5 Billion

Bola Ahmed Tinubu is the present president of the Federal Republic of Nigeria. He emerged victorious in the 2023 presidential election. 

He is often referred to as “Jagaban” and recently as “emi lo kan.” Tinubu who was the former governor of Lagos State is the richest Nigerian politician with an estimated net worth of $5billion. 

The bulk of his fortune is derived from his involvement in politics, media, real estate, oil and gas, the importation of rice and chemicals, and various other investments. Tinubu holds a portfolio of properties primarily situated in the southwestern region of Nigeria, particularly in Lagos State. His residence is located in the upscale neighborhood of Bourdillon Road, Ikoyi, Lagos.

Some of his cars include; Armoured Range Rover worth 40 million,  Naira Toyota Prado Jeep SUV worth 50 million Naira, Private Jet worth 21.7 Billion. Naira

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President Tinubu real estate acquisitions include;

10,000 hectares of Lakowe land near Abijo at Ibeju-Lekki land currently valued at 80 Billion Naira.

Beechwood Estate in Ibeju-Lekki

14-hectare Parkview foreshore land known as the Ikoyi Estate Foreshore, located along the Lekki-Epe Expressway

Fara Park Estate, located in Sangotedo along the Lekki Epe Expressway.

Fishery Landing jetty in Badore valued at 500 million Naira.

The Ogudu foreshore scheme valued at 5 billion Naira.

Another 3.8 hectares of land at the Lagos State Fisheries Office in Victoria Island is valued at 3 Billion.

The Ilubinrin housing estate, formerly used for Lagos State Civil Servants and judges until 2007, valued at 2.5 Billion Naira.

The former Julius Berger yard at Oko Orisan, Epe, is valued at 450 million Naira.

A mansion in the UK located at 32 Groove End Road, London

President Bola Ahmed Tinubu
President Bola Ahmed Tinubu

Chief Michael Ade Ojo – $2 Billion

Chief Michael Ade Ojo stands among the affluent Yoruba individuals, originating from Ilara-Mokin in Ondo State. He serves as the founder and CEO of the Elizade Group of Companies. One of its subsidiaries, Elizade Motors, initially focused on the distribution of diverse automobile brands before narrowing its specialization exclusively to Toyota vehicles.

He established Elizade University and currently holds the position of board chairman at Toyota Nigeria. Additionally, he serves on the board of directors for enterprises such as Crown Drinks Ltd, FCMB, Eco Bank, and several others.

Through his businesses, he has acquired a lot of wealth and owns several luxury vehicles that are not of public knowledge. 

Chief Micheal Ade Ojo

Femi Otedola – $1.8 Billion

Femi Otedola, a Nigerian billionaire originating from Oyo State, has made significant strides in the energy sector, specifically in oil and gas. As the founder of Zenon Petroleum and Gas Ltd and the former chairman of Forte Oil, he has played a pivotal role in these enterprises.

Beyond the energy industry, Otedola has diversified his business portfolio to include financial trading, shipping, real estate investment, and the hotel business.

Femi Otedola is well known for his Philanthropy nature, he is the Executive Chairman of Geregu Power PLC. 

Femi Otedola is the highest shareholder in FBN Holdings, the parent company of First Bank of Nigeria (FBN).

The billionaire has a fleet of cars that includes: A Mercedes-Benz AMG G63 worth N73 million.

A G-Wagon costing N53 million.

A Mercedes SLR McLaren worth N250 million.

A Rolls-Royce Phantom worth N162 million.

BMW 6 series worth N30 million.

Top 11 richest Yoruba men in 2023
Femi otedola

Olusegun Obasanjo – $1.6 Billion

Next on the list is one-time Nigerian Head of State and two-time President. He married five wives—Esther Oluremi, Lynda, Mojisola, Stella Obasanjo, and Bola Obasanjo. Altogether, he has 20 children.

The famous  Olusegun Obasanjo Presidential Library(OOPL), Abeokuta is a library owned by Chief Olusegun Obasanjo. 

Also Obasanjo is the founder of Bells University of technology, Ota. The National Open University of Nigeria (NOUN) was resuscitated in 2001 by Obasanjo.

Some of the cars in his garage include the following;

Mercedes-Benz S63 Sedan

Lexus 570

Toyota Land Cruiser Toyota Highlander 2017

Bombardier Challenger 300 jet

Helicopter

 

Top 11 richest Yoruba men in 2023
Olusegun Obasanjo

Jimoh Ibrahim – $1.1 Billion

Jimoh Ibrahim, a Nigerian entrepreneur, lawyer, and politician with roots in Ondo State, serves as the CEO of Global Fleet Group. His diverse sources of income encompass activities in oil and gas, real estate investments, insurance, aviation, hotels, banking, publishing, and various other sectors.

While not all of Jimoh Ibrahim’s cars are publicly disclosed, it is known that on his 50th birthday, the billionaire marked the occasion by splurging 300 million Naira on a Rolls-Royce vehicle as a self-celebration.

 

Jimoh Ibrahim

Tunde Folawiyo – $650 Million

Tunde Folawiyo, the Managing Director of Yinka Folawiyo Group, has taken the reins of the company his father established. Yinka Folawiyo Group extends its influence across various sectors, including energy, shipping, agriculture, and real estate.

Presently, Tunde Folawiyo holds a directorship at MTN Nigeria. Before entering the business arena, he pursued a legal career after being called to the bar in England.

While not all the vehicles in Tunde Folawiyo’s possession are publicly disclosed, it is known that he owns a Rolls-Royce in Nigeria, with another Rolls-Royce Wraith occupying a space in his London penthouse garage.

Top 11 richest Yoruba men in 2023
Tunde Folawiyo

Oba Obateru Akinruntan –  $300 million

Frederick Obateru Akinruntan, the traditional ruler of Ugbo Kingdom in Ondo State, southwestern Nigeria, is not only a respected monarch but also an oil magnate and the founder of Obat Oil, one of Nigeria’s prominent privately held oil companies.

Despite not holding the highest traditional rank among the Obas in Yorubaland, Akinruntan’s wealth and assets surpass those of esteemed figures like the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, and the Alaafin of Oyo, Lamidi Adeyemi. According to Forbes, he is recognized as the wealthiest king in Nigeria, boasting a net worth of $300 million.

Crowned as the Olugbo of Ugbo land in 2009, Akinrutan is held in high esteem as one of the most respected Obas in Yorubaland. Known for his taste, class, and indulgence in the luxuries of life, he owns an impressive collection of cars within his palace. A historical moment occurred in 2012 when he became the first black person to acquire the 2014 model of Bentley, previously ridden by Queen Elizabeth of England.

Rumors suggest that the wealthiest Yoruba king in Nigeria possesses the country’s most expensive yachts, reflecting his affinity for water travel. His kingdom, Ugbo Kingdom, is strategically located in a riverine area where he spent his formative years. Additionally, Akinrutan holds a position among the top 50 influential individuals in Nigeria, contributing to his esteemed status.

As of current estimates, his net worth stands at $300 million.

Top 11 richest Yoruba men in 2023
Oba Obateru Akinruntan

Clement Oluwatumininu Okeowo – $250 Million

Clement Oluwatumininu Okeowo stands as a discreet Nigerian billionaire, having established the renowned construction company, Gibraltar Construction Nigeria Limited. His journey began with the production of burglary proofs and iron-clad furniture before expanding his business into the construction sector. Presently, this billionaire’s net worth exceeds $250 million.

Some of the cars the billionaire owns include;

Rolls Royce Bentley Mulsanne

Range Rover

Mercedes-Benz

G-Wagon

Cadillac Escalade

 

Clement Oluwatumininu Okeowo

Adebayo Ogunlesi – $22.5 Million

Adebayo Ogunlesi, a Nigerian lawyer and investment banker, presently serves as the chairman and managing partner at Global Infrastructure Partners (GIP), a private equity firm he established in 2006.

His prominence soared in 2006 when GIP acquired London City Airport, and in 2009, the firm secured a majority stake in London Gatwick Airport for over £1.455 billion. Ogunlesi’s firm initially held ownership of Edinburgh Airport, acquired in 2012, and Nuovo Trasporto Viaggiatori, purchased in 2018. In 2019, Edinburgh Airport transitioned to new management under VINCI Airports, where Ogunlesi retained a majority share of 50.01% in the company. Known for his wealth, Ogunlesi also holds shares in investment banks such as Goldman Sachs.

Despite his considerable fortune, there is no publicly available information about the cars owned by Adebayo Ogunlesi. The acquisition of three UK airports attests to his financial capacity, suggesting that he has the means to indulge in any car of his preference.

Adebayo Ogunlesi

Dele Fajemirokun – $17 Million

Dele Fajemirokun, the offspring of shipping tycoon Henry Fajemirokun, stands as one of Africa’s accomplished businessmen, particularly in the post-independence era of Nigeria. The Nigerian Maritime Services Limited, founded by his father in 1962, continues to be a major player in Nigeria’s shipping industry.

Currently, Dele Fajemirokun assumes a leadership role in the family’s shipping enterprise. Additionally, he holds significant stakes on the boards of various Nigerian blue-chip companies, including the American International Insurance company and the oil exploration company First Hydrocarbon Nigeria Limited.

In Nigeria, Dele Fajemirokun possesses a Rolls Royce Phantom, and at his residence in London, he maintains ownership of a more recent model, the Rolls Royce Phantom Series 2.

Top 11 richest Yoruba men in 2023
Dele Fajemirokun

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