Top 7 Richest Yoruba Billionaires In Nigeria 2025: Their Net Worth, Bio, And Business Empires
The Yoruba ethnic group, known for its rich cultural heritage, is also home to some of the most successful business moguls in Nigeria. From oil tycoons to tech innovators and real estate giants, Yoruba billionaires have continued to shape the nation’s economy with their wealth and influence.
In this 2025 guide, we highlight the top 7 richest Yoruba billionaires, exploring their net worth, business empires, career highlights, and how they earned their fortune.
1. Mike Adenuga – Net Worth: $6.9 Billion
Biography:
Born April 29, 1953, in Ibadan, Oyo State, Mike Adenuga is Nigeria’s second-richest man. He studied Business Administration in the U.S. before returning to Nigeria to start his entrepreneurial journey.
Business Empire:
Adenuga is the founder of Globacom, Nigeria’s second-largest telecom operator. He also owns Conoil Producing, one of the country’s largest indigenous oil companies. His ventures also include real estate and stakes in banking.
Career Highlights:
- Founded Globacom in 2003
- One of the first Nigerians to discover and produce oil in commercial quantities
- Multiple national and international awards for business leadership
2. Femi Otedola – Net Worth: $4.7 Billion
Biography:
Born November 4, 1962, in Ibadan, Femi Otedola is the son of former Lagos State governor, Sir Michael Otedola. He studied at Obafemi Awolowo University and built his fortune through strategic investments.
Business Empire:
Otedola made his name in the oil sector with Zenon Petroleum and Gas. He later became the chairman of Forte Oil(now Ardova Plc). Today, his investments include power generation, real estate, and banking, with interests in Geregu Power and First Bank Nigeria.
Career Highlights:
- Former chairman of Forte Oil
- Acquired significant shares in First Bank of Nigeria
- Known for massive philanthropic donations
3. Oba Otudeko – Net Worth: $2.5 Billion
Biography:
Oba Otudeko was born August 18, 1943, in Ibadan, Oyo State. He is a trained accountant and graduate of executive business programs from Harvard Business School.
Business Empire:
Otudeko is the founder and chairman of the Honeywell Group, a Nigerian conglomerate with operations in food processing, telecommunications, real estate, and financial services. He was also chairman of First Bank Nigeria.
Career Highlights:
- Served as President of the Nigerian Stock Exchange (NSE)
- Longtime chairman of First Bank of Nigeria
- Founded Honeywell Flour Mills and expanded into multiple industries
4. Tope Awotona – Net Worth: $1.4 Billion
Biography:
Tope Awotona was born in Lagos, Nigeria, and moved to the United States in his teens. He holds a business degree from the University of Georgia and worked in sales before launching his own tech startup.
Business Empire:
Awotona is the founder and CEO of Calendly, a scheduling platform used globally by millions. The company is valued at over $3 billion, making him one of the few Nigerian-born tech billionaires in the diaspora.
Career Highlights:
- Founded Calendly in 2013
- Raised over $350 million in funding by 2021
- Featured in Forbes, Bloomberg, and TechCrunch
5. Jimoh Ibrahim – Net Worth: $1.1 Billion
Biography:
Born February 24, 1967, in Ondo State, Jimoh Ibrahim is a lawyer and businessman. He holds degrees from Obafemi Awolowo University and Harvard University in law and public administration.
Business Empire:
Ibrahim owns the Global Fleet Group, with ventures in oil & gas, hospitality, real estate, insurance, and aviation. His conglomerate operates across West Africa, particularly in Nigeria and Ghana.
Career Highlights:
- Former Chairman of NICON Insurance and Nigeria Reinsurance
- Owns several luxury hotels and filling stations
- Known for political ambitions and public sector investments
6. Razak Okoya – Net Worth: $1 Billion
Biography:
Razak Okoya was born January 12, 1940, in Lagos State. He started his career as an apprentice in his father’s tailoring business before launching into manufacturing.
Business Empire:
Okoya is the founder of Eleganza Group, one of Nigeria’s largest manufacturers of consumer goods like plastics, furniture, and cosmetics. The Eleganza Industrial City remains a massive industrial complex in Lagos.
Career Highlights:
- Built a self-sufficient industrial estate in Lekki
- Started manufacturing with minimal capital
- Known for his frugal but strategic business methods
7. Sijibomi Ogundele – Net Worth: $1 Billion
Biography:
Born in Agege, Lagos State, Sijibomi Ogundele studied law in the UK and ventured into real estate upon returning to Nigeria. He’s one of the youngest billionaires on this list.
Business Empire:
Ogundele is the CEO of Sujimoto Construction, a luxury real estate brand known for developing high-end apartments and smart buildings in Lagos and Abuja. He has become synonymous with luxury living in Nigeria.
Career Highlights:
- Built Banana Island’s GiulianoBySujimoto and LucreziaBySujimoto
- Pioneer of real estate branding in Nigeria
- Featured in international media including Forbes Africa
FAQs on Richest Yoruba Billionaires in 2025
1. Who is the richest Yoruba billionaire in 2025?
Answer:
Mike Adenuga remains the richest Yoruba man in 2025 with an estimated net worth of $6.9 billion, earned through telecommunications (Globacom) and oil (Conoil).
2. Are there any Yoruba tech billionaires?
Answer:
Yes, Tope Awotona, the founder of Calendly, is a Yoruba tech billionaire with a company valuation of over $3 billion.
3. What industries do Yoruba billionaires dominate?
Answer:
Yoruba billionaires excel in telecommunications, oil & gas, manufacturing, real estate, banking, and tech.
4. Are these billionaires involved in philanthropy?
Answer:
Absolutely. Many of them, including Femi Otedola and Mike Adenuga, are well-known for charitable donations in areas like education, healthcare, and youth empowerment.
5. Are all Yoruba billionaires based in Nigeria?
Answer:
No. Some like Tope Awotona are based abroad but continue to contribute to Nigeria’s economy through investments and innovations.
Conclusion
The Yoruba ethnic group is not only rich in tradition but also a powerhouse in the Nigerian economic landscape. These seven billionaires are proof of the exceptional business talents from the Southwest. From technology to real estate, and from telecommunications to oil and gas, they’ve created empires that stretch beyond Nigeria’s borders.
Their success stories inspire a new generation of Nigerian entrepreneurs and demonstrate how resilience, innovation, and ambition can create wealth and impact millions of lives.
