Mike Adenuga's net worth

There are a lot of things to say about the richest people in Africa who have also made it to the top list of the richest people in the world. However, it is one thing to be rich, it is another to be generous at the same time. Mike Adenuga is a man well known for not just his money but his good heart. Adenuga is the chairman of Conoil and the owner of Globacom. He is among the richest people in the world and the second richest in Nigeria after Dangote. He is a goal-driven man who acquired his first million at age 26. 

At a very young age, he has shocked a lot of people with his goal-driven attitude to work for what he believes. He is a man who does not only believe in hard work but also smart work. This is why most of his fortunes are products of his smart decisions at the right time. Despite this, he is a man of the people. A lot of people acclaimed that when it comes to investment, Chief Adenuga has a good touch. Before examining his net worth, here are a few things to know about him.

Early life

It is quite amazing to find out that with all his wealth and fame, Mike Adenuga is from a very humble home. In fact, he had once lived the life of a hawker in the street of Ibadan. Michael Adeniyi Agbolade Ishola Adenuga Jr was born on April 29, 1953, in Ibadan. His father, Oloye Michael Agbolade Adenuga Snr was a school teacher and his mother Omoba Juliana Oyindamola Adenuga was a businesswoman. 

After acquiring his basic education from Ibadan Grammar School, Ibadan, and Comprehensive High School Aiyetoro where he received his Higher School Certificate (HSC), he proceeded to the United States where he attended Northwestern Oklahoma State University and Pace University, New York and obtained his degrees in Business Administration.

One thing that made him stand out even as a student is his thirst for knowledge. While he was in school, he was well known for his reading attitude and his excellent grades. 

Career

Adenuga's career history is one that reveals his transitioning from grass to grace. During his study in the United States, Adenuga worked as a taxi driver and even hawked lace materials and soft drinks all in a bid to pay his fees. At age 26, achieved his first million from this business.

However, in 1990, his tenacious thirst for trying out anything good and legal made him seize the opportunity opened by Professor Jubril Aminu, the oil minister during Babangida’s regime. The policy allows individuals to engage in the business of oil exploration and exploitation. Adenuga applied for a drilling license at the period and was granted. Thereafter he started his Consolidated oil business. 

In 1999, he saw an amazing opportunity in Telecommunication and applied for a GSM license from the Federal Government. His application was granted and this gave birth to Globacom. Though the license was later revoked, he was given a second one in 2003. Today, Globacom is the second-largest network with over 50 million subscribers. 

In 2008, he expanded the network to cover African countries like Benin, Ghana, and Cote 'd'Ivoire. In addition to this, Globacom has different products including Glo Broad Access, Glo Gateway, Glo mobile, and Glo-1 coverage. 

In 2015, he struck a takeover bid and acquired the Ivorian Mobile Telecoms Operator ‘Comium’ in Cote d'Ivoire for $600m

In August 2007, He was named the African Entrepreneur of The Year at the first African Telecoms Awards (ATA). 

However, in 2009, he was detained for money laundering by the Economic and Financial Crimes Commission (EFCC). This made him leave his country, Nigeria, for London and lived there until he was granted a pardon by the Musa Yar'Adua regime. 

Today, Adenuga has amassed a lot of fortune in the oil and gas sector and in telecommunications. His name comes to mind when we want to mention the most successful Africans in oil and gas. His name is among the richest in Nigeria, Africa and in the World. 

Net Worth

Over the years, Mike Adenuga's net worth has continued to increase. From $4.5 billion in 2018, Adenuga's net worth as of 2020 according to Forbes is $6.1 billion. 

Family

Mike Adenuga is a polygamous man by nature and has many women. Though he married two wives, he has just one with him, Titi Joyce Adenuga who gave birth to a daughter, Bella Adenuga. The family is blessed with seven children namely, Bella, Folashade Adeniyi, Adetutu Oyindamola, Eniola, Tunde, Prince Michael, and Abimbola. 

His house

As expected, Mike Adenuga has a lot of houses, however, the one that stands out among these houses is in his estate in Banana Island, estimated to be worth more than N1 billion. The house is more than just a mansion, it is called the "Gold diggers den."

The massive estate is a collection of nine duplexes sitting on three hectares of land. It was said to have been constructed by Julius Berger and Cappa & D’Alberto. One out of the nine duplexes was made specifically for him. 

Among the facilities in the estate are a mosque, a church, two watchtowers, and a multipurpose hall that can contain up to 200 persons. It also has a car pack, a yacht deck, helipad, a swimming pool. Mike Adenuga's estate is said to be the most expensive personal house in Nigeria.