Mike Adenuga Net Worth

What is Mike Adenuga’s net worth?

net worth:	$6 billion
age:	71
date of birth:	April 29, 1953
gender:	male
high:	1.73 m (5 ft 8 in)
country of origin:	Nigeria
Source of wealth:	entrepreneur
Last updated:	August 6, 2024

introduce

Mike Adenuga is a Nigerian billionaire and the second richest person in Africa.

His company, Globacom, is the second-largest telecom operator in Nigeria, with operations in Ghana and Benin. He owns stakes in Equitorial Trust Bank and oil exploration company Conoil.

Mike Adenuga’s net worth is estimated to be $6 billion.

early life

Michael Adeniyi Agbolade Ishola Adenuga Jr. was born on April 29, 1953 in Ibadan, Nigeria.

His father was a school teacher and his mother was a businesswoman of Ijebu royal descent.

Adenuga received his secondary education at Ibadan Grammar School and Aiyetoro Comprehensive High School, where he obtained his High School Certificate. He worked as a taxi driver to raise money for university tuition.

Profession

entrepreneur

Mike Adenuga is no stranger to hard work, as he worked as a taxi driver to raise money for college before graduating from Northwestern Oklahoma State University.

He achieved his first major success in 1979 when he made his first million dollars selling lace and distributing soft drinks.

Over the next 11 years, he consolidated his business, invested his profits and built the financial foundation that would catapult him into the big leagues.

In 1990, he obtained a drilling license, a key step in his career that paved the way for him to enter the Nigerian oil industry.

His company, United Petroleum, discovered commercially viable oil in southwestern Ondo State in 1990, a milestone for Nigerian oil companies.

merchant

Leveraging his successful oil investments, he obtained a conditional GSM license in 1999, marking his entry into the telecommunications sector.

Unfortunately, his initial license was revoked, but he persevered and was awarded a second GSM license in 2003 after a government auction.

Using these lucrative licenses, Adenuga founded Globacom (GLO), a reputable telecommunications company in Nigeria that expanded its reach throughout the country.

His success was so great that in 2007, he was named African Entrepreneur of the Year at the inaugural Africa Telecom Awards, highlighting his entrepreneurial excellence.

He joins Nigerian businessman and business tycoon Aliko Dangote in the 2023 Forbes African Billionaires List.

Mergers and Acquisitions Experts

In May 2015, Adenuga made a takeover offer for Comium Côte d’Ivoire, the Ivorian mobile telecommunications operator, for $600 million.

In the years since Globacom Limited first expanded its operations into Cote d’Ivoire, the Nigerian multinational telecommunications company has seen further growth opportunities abroad.

GLO, headquartered in Lagos, remains a private telecom operator in which Adenuga holds a controlling stake.

The company currently provides telecommunications services to four countries in West Africa, including Nigeria, Benin Republic, Ghana and Côte d’Ivoire.

The international business community recognizes the impressive achievements of GLO and its outstanding Chairman, Dr. Mike Adenuga Jr., in a tough and demanding business environment.

International recognition

Forbes ranked him as the sixth richest person in Africa, with a personal net worth of more than $7.3 billion, and ranked him 324th on the list of world billionaires.

He built his fortune through diversification and acquisitions, using his vast oil wealth to launch a successful telecommunications business in Nigeria and then expand overseas.

The key to the success of his telecommunications company, GLO, was expanding its service offerings to include Internet access in addition to phone service.

Starting in 2011, the company spent $800 million to build a high-capacity fiber-optic submarine cable to connect users to the internet through the United Kingdom.

They launched 4G LTE service in 2016, providing users with fast and efficient broadband connections, and the number of Internet users will reach nearly 40 million by 2020.

Mike Adenuga has lived his life by a quote from Nelson Mandela: “Small things do not bring passion.”

Philanthropist and innovation expert

Adenuga and his company support social and community development, prioritise philanthropy and support various revitalization initiatives.

His innovative business strategies and personal leadership have been critical in driving the growth of its diverse businesses and building an impressive African brand.

The companies he invested in have made great contributions to the economic development of West Africa and played a vital role in the development of the region.

Key to the growth and expansion of his business has been his unwavering commitment to job development, creating tremendous opportunities for communities across the region.

Adenuga’s impressive achievements, focused on local business development, highlight the global potential of African businesses.

His telecommunications ventures have contributed to the advancement of technological infrastructure in Nigeria and its neighbouring countries by providing technological infrastructure to facilitate business development.

Adenuga has built an extensive global network, working with business leaders such as Microsoft founder Bill Gates, who pledged $100 million to address malnutrition in Nigeria.

Mike Adenuga’s Net Worth

Mike Adenuga’s net worth is $6 billion.

emphasize

Here are some highlights from Mike Adenuga’s career:

Globacom is the second largest telecommunications operator in Nigeria.
He owns shares in Equitorial Trust Bank
Grand Commander of the Order of the Niger (2012)
Commander of the Legion of Honor (2018)

Frequently Asked Questions

How much is Mike Adenuga worth?

Mike Adenuga’s net worth is estimated to be $6 billion.

How old is Mike Adenuga?

Mike Adenuga was born on April 29, 1953 and is now 71 years old.

How tall is Mike Adenuga?

Mike Adenuga’s height is 1.73 meters which is equivalent to 5 feet 8 inches.

Summary

Mike Adenuga is a Nigerian billionaire and one of the richest men in Africa.

Globacom has more than 24 million customers in Nigeria, and also operates in the Republic of Benin, and recently received licenses to operate in Ghana and Cote d’Ivoire.