Folorunsho Alakija Replaces Oprah Winfrey As The World’s Richest Black Woman – Ventures Africa

Ever since her mention in the recent Forbes Africa feature as one of the richest women in Africa, Nigerian billionaire oil tycoon, Fashion designer and philanthropist, Folorunsho Alakija has captured the attention of many as someone to watch out for.

Now, another online publication, Ventures Africa has ranked her as the World’s Richest Black Woman. According to the report, she has ousted Oprah Winfrey from the position.

Ventures Africaclaims that contrary to  the Forbes Magazine ranking which pegs her net worth at only $600 million, Alakija is actually worth at least $3.3 billion. She earned most of her wealth from the oil and gas sector.

Alakija, 61, started out her professional career in the mid 70s as a secretary at the now defunct International Merchant Bank of Nigeria, one of the country’s earliest investment banks.

In the early 80s, she quit her job and went on to study Fashion design in England, returning to Nigeria shortly afterwards to start Supreme Stitches, a premium Nigerian fashion label which catered exclusively to upscale clientele.

In May 1993 Alakija applied for an allocation of an Oil Prospecting License (OPL). The license to explore for oil on a 617,000 acre block – (now referred to as OPL 216) was granted to Alakija’s company, Famfa Limited.

In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly-owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off 8 percent of its stake in OPL 216 to Petrobas, a Brazilian company. Folorunsho Alakija and her family owned 60 percent.

The Ventures Africa report also claimed that Alakija has a real estate portfolio worth over $100 million. Earlier this year, Nigerian and British media announced that Alakija acquired a property at One Hyde Park for $102 million.

She owns a Bombardier Global Express 6000 which she bought earlier this year for a reported $46 million. She is the founder of the Rose of Sharon foundation, a Christian-based charity which gives out small grants to widows.

Alakija is married to Modupe Alakija and they have four grown-up sons together. She also has a grandchild from her first son. Modupe Alakija, her husband is the Chairman of Famfa Oil. Her sons run the company.



  • Tolulope says:

    U’ve acquired a whole lot for urself ma, I am proud of u as a woman, & I’m sure ur husband & sons r as well. U r indeed worthy of emulation, a mentor 2 be precise. Keep up the good works!!!!

    • Tunla says:

      Acquire a lot for herself indeed at the expense of her country men and women, I guess this is what we Nigerians really appreciate. Am not a hater but a billionaire in the midst of many other poor people (Most of all money made from Nigerian Oil). Well done.

  • Tunde says:

    You guys @ information nigeria or whatever you call yourself should stop spreading this untrue report. It is very good that we have a nigerian woman on the list but why declaring her the richest black woman. Do you think she go dash money for this lie? Oprah net worth is $2.7bn while Mrs Alakija worth $600m not $3.3bn so how does that make her (Mrs Alakija) the world black richest woman? Reconcile your report please!

  • GenesiS Olamide Michael says:

    Nigeria is no doubt a gian. The richest man in Africa, the richest woman in Africa, the most religious people in the world, the most corroupt people nation in Africa & the poorest. list them all, Nigeria is indeed a gian.

  • Mat says:

    An oil bilionia indd were as d inhabitants of niger delta owns d oil as mere landlords our army generals make dia girl friends bilionias tru d oil bloks while d inhabitants ar mere fishermen nd vilage hunters

  • salihu sule says:

    Pls, someone tell me which one to believe and…. why? Or is nigerian factor at it again?



  • Adamu baba mohammed says:

    Am very pleased 2 knw dat dere is a woman like her in nigeria.i will like her 2 unveil her self by creating job opportunities like d way dangote is doing

  • Muhammed Islam says:

    This is one of the problem we are facing in this country…. if Mrs. Folorunsho Alakija worth that amount of money she should be able to create jobs for nigerian youth we need her accistance as the richest black woman in the world.

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