Adeyemo Alakija Biography and Net Worth

The Biography of Adeyemo Alakija 

During the colonial era, a merchant from Nigeria became one of the richest people of his time, his name was Adeyemo Alakija. 

He was born on May 25 1884 into the household of a revered Lagos Chieftain, popularly known as Chief Akintoye Alakija, a true indigenous Lagosian.

, like a few others his age at the time, attended the Methodist Boys' High School in Lagos after finishing his education at the Lagos Grammar School.

Upon completing his schooling, he entered the British colonial civil service and worked there for a while before quitting to launch his own company.

Alakija's business interests were spread between shipping, agriculture, and real estate and he was the founder and owner of the Nigerian Produce Company, whose operations involve agricultural products such as cocoa, palm oil, and rubber to Europe. 

He also owned several large estates in Lagos and other parts of Nigeria, as well as a shipping company that operated between Nigeria and Europe.

Oloye (Chief) Alakija as he was known concerning his chieftaincy titles in Egbaland and Ileife was an adherent for philanthropy, as he was involved in several charitable organizations in Nigeria. 

Despite his numerous engagement such as being on the board of the Lagos Governing council and founding the renowned newspaper enterprise The Daily Trust amongst other ventures, he was also a "Grandmaster" in the famous Reformed Ogboni Confraternity.

He was also a senior member of the Nigerian Red Cross Society and the Nigerian Youth Movement, and he also founded the Lagos Native Trust Fund, which provided financial assistance to Lagosians in need.

His Children include Titi Alakija the former wife of Kofi Annan the former United Nations Secretary-General, Modupe Alakija a Lawyer and Husband to the richest woman in Africa Folorunsho Alakija, and others.

Some recognition to attest to his goodwill character include a street named after him in Victoria Island (VI) in Lagos about 2k from Ozumba Mbadiwe Road which currently houses one of the top branches of the Fidelity Bank PLC.

Another is the Adeyemo Alakija Street in GRA Ikeja. 

Adeyemo Alakija's Net worth 

When Alakija passed away on May 10, 1952, his wealth was an edit to be around £10 million at the time, making him one of the wealthiest individuals in Nigeria and Africa.

Using the pound's average yearly inflation rate of 5%, his net worth will be around £278 Million, converting that to Naira it will be upward of N200 billion naira.

It's difficult to estimate Alakija's net worth in today's currency as it was a long time ago, and there is no direct comparison to today's economy. 

However, based on his wealth at the time of his death, it is safe to assume that his net worth would be several hundred million dollars in today's currency.