Home Celebs & Net-Worth Tony Elumelu Networth. How rich is the billionaire and philanthropist

Tony Elumelu Networth. How rich is the billionaire and philanthropist

by Abbey
Tony Elumelu addressing a crowd of young Africans

it is had to think of a more respected individual in the banking sector in Nigeria than the former UBA chairman. Besides the bank, he is also an entrepreneur and a philanthropist. Furthermore, he is the founder of Heirs Holding, The Tony Elumelu Foundation. He was born in Jos, the plateau state capital in 1963.

He attended Ambrose Alli, University, Delta State University, and Harvard Business School. He is listed in Time magazine’s 100 Most Influential people of 2020.

Background and Early Life

Mr. Tony Elumelu was born in 1963 in Jos, Plateau state capital, Nigeria. However, he is from Aniocha North Local Government Area of Delta State. He studied economics and obtained his Bachelor’s degree from Ambrose Alli University and a Master’s degree from the University of Lagos.

He got married to Vivian Elumelu, a medical doctor in 1993. They have seven children. He has a younger brother who is a member of the Federal House of Representatives in Nigeria – Ndudi Elumelu. He is also the Minority Leader of the lower house of parliament.

He began his career in Union Bank as a Corp member in 1985. He retired from the United Bank For Africa (UBA) in 2010 and established Heirs Holdings. This holding has business interest in energy, agriculture, medical care, etc.

He has continued to work for the interest of Nigerians in different capacities. Also, he worked in Standard Trust Bank.

He fills as an adviser to the USAID’s Private Capital Group for Africa. Also, he is a member of the Nigerian President’s Agricultural Transformation Implementation Council (ATIC). He is the co-chair of the Aspen Institute Dialog Series on Global Food Security.

Furthermore, he was on the seat of the 26th World Economic Forum on Africa in Kigali, the capital of Rwanda. This event was held between the 11th and 13th of May, 2016.

Tony Elumelu net worth

Tony Elumelu is an ex-student of the Advanced Management Program of Harvard Business School.  He is a business analyst and an altruist. He holds the national honor of Member of the order of the Federal Republic (MFR).

Tony Elumelu has been listed by Forbes magazine Africa as one of the richest men in the continent. Five years ago, he was ranked No.31 richest man in the continent. At the moment, he is with $700 million.

He has a range of sophisticated automobiles such as Range Rover, Mercedes-Benz S-Class among others. Also, he owns a host of houses around the country. Furthermore, he owns several estates and real estate investments both in Nigeria, and other countries.

The Tony Elumelu Foundation

The foundation was established in 2010. Its headquarters is in Lagos State, Nigeria. The purpose of the foundation was to empower entrepreneurs in Africa to help them contribute meaningfully to the development of the continent.

The foundation is determined to chart a new path for an African charity. Also, the foundation does not operate on the idea of a grant-giving organization. However, it aims to provide an effective system that provides intensive support to entrepreneurs by following its 7-pillar ideology.

This foundation is the forerunner member of the global impact Investment Rating System (GIIRS). Presently, the foundation has provided grants to over 7,500 people in Africa. This number comes from over 50 countries within the continent. To know more about the history of this foundation, click here.

The major aim of the foundation is to facilitate merit in business leadership as well as entrepreneurship within the continent. The fundamental plan of the foundation is to improve competition among economies in Africa.

Some of the foundation programs include an annual conference created to bring entrepreneurs within Africa together. So they can interact, share ideas. Also, it is a platform for interaction between the public sector and the private sector. You can learn more about the programs of the foundation here


  • Abbey

    Abbey Johnson has a Masters degree as an engineer and has over 3 years of teaching and research experience. He is happiest when on a bike and is also interested in electric energy and computer Science.

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