Mike Adenuga

Founder, Globacom | Chairman Conoil
Real Time Net Worth
as of May 24, 2017
Net Worth
as of 2018
  • Age 64
  • Source of wealth Telecom, Oil
  • Citizenship Nigeria
  • Education Master Of Business Administration, Pace University, New York
  • Residence Lagos, Nigeria
  • Status Married
  • Children 7

Net Worth Over Time

$4.6 B
$4.7 B
$4.6 B
$4.2 B
$10 B
$5.8 B
$5.9 B
$5.3 B

The harder you work, the luckier you get

Mike Adenuga

Mike Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the second largest operator in Nigeria with 36 million subscribers; it also has operations in Ghana and the Republic of Benin. His exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. He also owns real estate firm Proline Investments, which has hundreds of properties throughout Nigeria. Adenuga studied in the United States, getting an MBA at Pace University in New York, where he worked as a taxi driver to support himself. He returned to Nigeria and made his first fortune trading lace and Coca-Cola. Along the way he made friends with Nigerian military bigwigs who awarded him lucrative state contracts; those formed the foundation of his fortune. His estimated net worth is lower this year due to the drop in value of Nigeria’s currency, challenges in the oil sector, and overall weakness in Nigeria’s economy.