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Folorunsho Alakija, Net Worth $2.1 Billion

 

folorunsho

Born 1951
Ikorodu, Lagos State, Nigeria
Residence Lagos, Lagos State, Nigeria
Nationality  Nigeria
Occupation Business tycoon
Known for Philanthropy
Net worth Decrease US$2.1 billion (2015)[1]
Title Group Managing Director
Religion Christianity
Spouse(s) Modupe Alakija (m. 1976)
Children 4

The richest self-made woman in Africa and one of just two female billionaires on the continent. Folorunsho Alakija’s first company was an upscale fashion label that catered to Nigeria’s elite, including the wife of the former military president, Ibrahim Babangida. This connection paid off: the president later gave Alakija’s company a prospecting license for one of the most lucrative oil fields in Nigeria. The drop in oil prices has dented the fortune of Alakija, one of just two women billionaires in Africa. The 62-year-old started her career as a secretary at the erstwhile Merchant Bank of Nigeria, but moved to England in the early 1980s to study fashion design. She then returned to her native country and set up a high-end label called Supreme Stitches.

Although she amassed some wealth from the label, a significant proportion of Alakija’s fortune comes from an oil-exploration license granted to her company Famfa Ltd. in 1993. The 617,000-acre oil block would go on to become the highly lucrative OML 127, in which Alakija’s family retains a 60% stake.

According to Ventures Africa, her assets include a real estate portfolio worth over $100 million and a $46 million private jet.

 

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