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Tony Elumelu is one of the most popular entrepreneur in Nigeria and Africa. As a business leader and industry captain in the continent, it is important we look into his net worth. The Nigerian entrepreneur and chairman of Heirs Holdings is worth over 1.98billion USD.

  • Nationality: Nigeria
  • Date of Birth: March 22, 1963
  • Occupation: Entrepreneur
  • Net Worth: $1.98 Billion


Tony Elumelu was born in the Northern part of Nigeria, Jos, Plateau State on March 22,1963, but he is a native of Onicha-Ukwu in Aniocha North Local Government Area of Delta State.


Tony Elumelu attended Ambrose Alli University where he bagged a bachelors degree and then proceeded to University of Lagos where he was awarded master of science degree. He obviously didn’t stop there, he checked into the prestigious Harvard Business school for an advanced management programme, a great achievement for a businessman.

SEE ALSO: Ifeanyi Ubah Net Worth and Biography

Tony Elumelu Family

He is married to Dr. Awele Vivian Elumelu and they are both blessed with 5 children and they are all girls, wow! this man must be a lucky man.

His Business Interests

Tony Elumelu started off with his first ever adventure into to the world of business with the acquisition of Crystal Bank Limited in 1997 a distressed medium-sized commercial bank in Lagos that was later renamed into Standard Trust Bank before it merger with UBA in 2005.
UBA has continue to grow in size and currently have branches in 20 Africa countries, USA and UK. With $2billon market capitalization and well over 10,0000 workforce across and $12billon in assets.

On retiring in 2010 from UBA after CBN directives limiting banks chiefs to 10 years, he founded Heirs Holdings, which invests in the financial services, energy, real estate, hospitality, agribusiness, and healthcare sectors.

Also in 2010 he set up Tony Elumelu Foundation (TEF) a non profit organization designed to assist entrepreneurs in Africa and groomed them into leaders in the private sector.

In 2013, Elumelu promised to invest $2.5 billion in the “Power Africa” initiative of US President Barack Obama which aims to expand energy in sub-Saharan Africa, where some two-thirds of people lack regular power. But a complementary effort in the US Congress has hit a snag in a dispute over requirements that certain US-backed projects be low in carbon emissions blamed for climate change.

Awards and Recognition

  • He was conferred with the title of Member of the Order of the Federal Republic (MFR) in 2003
  • In 2016 he was Voted by Investor Magazine as African leader of the year
  • Was recognized as banker of the year by “African Banker Magazine” in 2008
  • In 2012 he awarded with National Honour of Commander of the Order of the Niger (CON)
  • He was recognized as one of “Africa’s 20 Most Powerful People in 2012 by “Forbes” magazine
  • Listed as 100 most influential Africans in Business by “New African Magazine”

These are some of his personal awards and recognition to a man that has positively effect change to Africa and world at large.

According to our estimates, Tony Elumelu net worth is put at $1.98billion

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