Tony Onyemaechi Elumelu is one of the richest men not only in Africa but in the whole World! He is a Nigerian economist, philanthropist, and businessman. He is a founder of the Tony Elumelu Foundation and the Chairman of Heirs Holdings. Forbes Magazine names him one of the “Africa`s 20 Most Powerful People in 2012”. Who is he? How did he become so rich? Read this article to find out more!
Tony Elumelu Biography
Tony Onyemarchi Elumelu was born in 1963 in Jos, Plateau State. He hails from Ukwuani in Delta State. He managed to acquire two degrees in economics in Nigeria. He got a bachelor degree from Ambrose Alli University. He also received an Msc at the University of Lagos. Tony Elumelu is also an alumnus of Harvard Business School. This was where he studied Advanced Management Programme.
He has been happily married for more than 24 years and has seven children. Tony Elumelu`s Wife is Awele Elumelu. She is a medical doctor. Tony Elumelu is not the only child in his family. He has four siblings. One of his siblings is Ndudu Elumelu is a former member of the Nigerian Federal House of Representatives.
Tony Elumelu Career
READ ALSO: Easiest way of making money in Nigeria
If not for him, the Standard Trust Bank wouldn`t be among top five financial institutions in Nigeria. In 2005, he managed to transform the United Bank for Africa into a pan-African Institution that has over seven million customers in nineteen African countries. It should be mentioned that before Tony Elumelu, the United Bank For Africa was only a provincial bank.
After his retirement from the United Bank of Africa, Mr.Elemelu founded Heirs Holdings. This company invests in the healthcare, agricultural business, real estate, energy and financial sector. In 2010, Mr. Elumelu created the Tony Elumelu Foundation. It is an organization that provides a philanthropic assistance to the promotion of entrepreneurship and business leadership in the country. It was created to increase the competitive abilities of the private sector in Africa.
In 2011, Heirs Holdings managed to gain control of the Transnational Corporation of Nigeria Plc. This business conglomerate had interests in the real estate, energy and agricultural business. Tony Elumelu was appointed the chairman of the corporation.
Today Tony Elumelu serves as an advisor to the USAID`s Private Capital Group of Nigeria Plc. He also serves as the vice-chairman of the National Competitiveness Council of Nigeria. Tony Elumelu participates in numerous national and international financial organizations to broaden the business interests of Nigeria. He has a place in the Agricultural Transformation Implementation Council.
Tony Elumelu sat in the Ministerial Committee and helped to establish world-class hospitals across Nigeria. He pitched in at the Federal Government and the Presidential Jobs Board by creating about three million jobs in a year. The United Nations Sustainable Energy for All Initiative appointed him at the Global Advisory Board. He was one of the co-chairs at the 26th World Economic Forum in Africa.
All his accomplishments has made it possible for him to make a lot of money. Today, Tony Elumelu net worth is about 700 million dollars. This places him as not only one of the richest in Africa but also in the world.
Tony Elumelu Philanthropy
Tony Elumelu takes part in various philanthropic events. He even founded the Tony Elumelu Foundation to help African private sectors. He promotes and celebrates entrepreneurship and excellence in business leadership. He also provided various initiatives, like The Tony Elumelu Entrepreneurship Programme.
He sees his main task as helping the African private sector. He takes part in various business philanthropic events, like:
- The Worlds Economic Forum`s Regional Agenda Council in Africa;
- The Nigeria Leadership Initiative;
- Africa Energy Leaders` Group
Tony Elumelu`s Way of Life
This wealthy man is mainly concentrated with the private sector in Africa. He believes that by helping others to become entrepreneurs and develop businesses, he can create positive economic changes on the continent. He also invests a great deal of money into the development of his own country. Tony Elumelu can be a role model to follow for those who hope to become entrepreneurs.