Top 5 richest kings in Yorubaland 2023

Yorubaland, a region in southwestern Nigeria, is home to some of the wealthiest traditional rulers in the country. These kings, known as obas, are not only revered for their spiritual leadership but also for their vast wealth and influence.

Here are the top 5 richest kings in Yorubaland in 2023:

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Oba Obateru Akinruntan

The traditional ruler of Ugbo Kingdom, a town in Ilaje Local Government, Ondo State, southwestern Nigeria, Frederick Obateru Akinruntan, is an oil magnate and founder of Obat Oil, one of Nigeria’s largest and leading privately held oil companies.

Though, he is not the most powerful Obas in Yoruba land, his wealth and assets beat that of the current Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, the Alaafin of Oyo, Lamidi Adeyemi to emerge the wealthiest king in Nigeria with a net worth of $300 million according to Forbes.

Oba Obateru Akinrutan was crowned the Olugbo of Ugbo land in Ondo state in the year 2009 which makes him one of the most respected Obas in Yoruba land. This wealthy Yoruba monarch is man of taste, class and sure knows how to enjoy his riches. He has a luxury of cars inside his palace. He entered the history books when he became the first black person in 2012 to buy the 2014 model of Bentley which Queen Elizabeth of England rode.

There are rumors circulating that the wealthiest Yoruba King in Nigeria possesses the most expensive yachts in the country due to his fondness for traveling by water. His kingdom, Ugbo Kingdom, is situated in a riverine area where he spent his formative years. Additionally, he holds a position among the top 50 influential individuals in Nigeria.

His current net worth is estimated to be $300 million.

Oba Obateru Akinruntan
Oba Obateru Akinruntan

Oba Adeyeye Enitan Ogunwusi

Oba Adeyeye Enitan Ogunwusi (Ọjájá II) CFR is the 51st and current Ooni of Ife. He is the traditional ruler and monarch of the Yoruba kingdom of Ile-Ife.

In 2015, he assumed the throne of his ancestors, following the passing of Oba Okunade Sijuwade, the 50th Ooni of Ife.

Ọjájá II is among the five richest kings in Yoruba land. With an estimated net worth of $70 million, the first class king from Osun state undoubtedly ranks among the wealthiest in Yoruba land.

After serving as the managing director of Howard Roark Gardens Limited, he became a significant real estate investor in Lagos.

His company worked on the multi-million dollar Jacob Mews Estate project in Yaba and the Lakeview real estate development in Lekki. He is one of the richest Yoruba rulers and has a plethora of exotic automobiles.

A 2011 Rolls-Royce Phantom, a Mercedes-Benz S550, and two Bentleys are all kept in his garage. These and other assets all demonstrate the extent of Oni of Ife’s wealth and net worth.

Ooni of Ife


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Oba Rilwan Akiolu

Oba Rilwan Akiolu is the Oba of Lagos state, Nigeria. He is estimated to have a net worth of over $9 million. Akinruntan’s wealth comes from his various business interests, including agriculture and investments.

He is the 21st Oba of Lagos and a retired senior police officer before ascending to become the king of Lagos in 2003.

Additionally, Oba Akiolu has landed properties in certain affluent areas of Lagos. In Yoruba Kingdom, he is a highly wealthy ruler.

Oba of Lagos
Oba of Lagos

Oba Michael Adedotun Aremu Gbadebo

Adedotun Aremu Gbadebo III is the current Alake of Egba, a clan in Abeokuta, Nigeria. He has ruled since 2 August 2005.

Gbadebo is a retired senior military officer before he was crowned the 10th Alake to preside over the Egba land in Ogun state. He also has many successful businesses in the private sector. This king once occupied the chairmanship role of the board of one of Nigeria’s top oil and gas firms, Oando PLC.

He has an estimated net worth of $5 million.

Alake of Egba
Alake of Egba

Oba Aladetoyinbo Ogunlade Aladelusi

Oba Aladetoyinbo Ogunlade Aladelusi, Odundun II, stands as the 47th and current Deji of Akure, a traditional state in Akure, Ondo State. Proclaimed as Deji in 2015, he adopted the regnal name Odundun II and continues the legacy established by his predecessor, the late Oba Adebiyi Adegboye Adesida.

A real estate developer and architect, the monarch is thought to be worth $5 million. According to reports, he is one of the top Yoruba traditional kings in Nigeria. The wealthy monarch, who exudes elegance, is also among the richest Yoruba kings.

In October 2022, a Nigerian national honor of Commander Of The Order Of The Federal Republic (CFR) was conferred on him by President Muhammadu Buhari.

Deji of Akure

While the list above showcases a handful of the richest kings, Yorubaland is home to numerous affluent monarchs who have cultivated their substantial assets through a variety of investments, spanning real estate, oil and gas, and other profitable undertakings.

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