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Thursday, September 21, 2023

Tony Elumelu Net Worth and Biography

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  • Full Names: Anthony Onyemaechi Elumelu
  • Date of Birth: 22 March 1963
  • Age: 57 years old
  • Place of Birth: Jos, Plateau, Nigeria
  • Nationality: Nigerian
  • Education: Ambrose Alli University. The University of Lagos. Delta State University. Benue State University
  • Occupation: Economist and Businessman
  • Active years: 1987—present
  • Spouse(s): Dr. Awele Elumelu
  • Parent(s): Dominic Elumelu (father) and Suzanne Elumelu (mother)
  • Relatives/siblings: Ndudi Elumelu (brother)

Who is Tony Elumelu?

Tony Elumelu is one man that is well known and very popular in the Nigerian Commerce & Industry, Economic, and Banking sector. He was well known for his role in the acquisition of Standard Trust Bank and taking them from almost nothing to become one of the top banks in Nigeria.

He’s the Chairman of Heirs Holdings and Transcorp, the former chairman of the United Bank for Africa, UBA. He is also a humanitarian and a philanthropist, the founder of The Tony Elumelu Foundation

Tony Elumelu’s Net Worth

Tony Elumelu’s net worth as of January 2020 is $1.4 Billion. Making him the 7th richest person in Nigeria.

Tony Elumelu’s Biography

Tony Elumelu Net Worth

Anthony Onyemaechi Elumelu is a renowned Nigerian Businessman, economist, banker, investor, entrepreneur, and philanthropist. He hails from Aniocha North Local government area of Delta State, Nigeria, and was born on 22 March 1963 in Jos, Plateau State, Nigeria.

Elumelu graduated with a bachelor’s degree in economics from the Ambrose Alli University (formerly known as Bendel State University), and he got his Master’s degree in economics from the University of Lagos.

He proceeded to acquire more academic exposures as he signed up for an advanced management program at the Harvard business school, USA.

Tony Elumelu got married in 1993, to Awele Vivien Elumelu, a medical doctor, they’ve had seven children since then. He also has four siblings, one of whom is a former member of the Nigerian Federal House of Representatives.

Tony Elumelu started his banking career at Union Bank of Nigeria Plc as a Youth Corps member of the Nation Youth Service Corps in 1985. He burst into the business scene in 1997 when he lead a group of small investors to take over a struggling commercial bank in Lagos.

He turned the fortunes of Standard Trust Bank around and got them to merge with the United Bank for Africa in 2005. This was a significant breakthrough for him as an African entrepreneur because it meant that he led the largest merger in the Sub-Sahara Africa banking sector.

He managed and transformed the UBA into a Pan African institution as he attracted more than seven million customers from nineteen African countries. UBA now has branches in 20 African countries and the U.S and U.K.

Tony Elumelu was the chairman of the UBA until his retirement in 2010, after which he founded Heirs Holding, a company with a portfolio that cuts across energy, oil and gas, financial services, real estate, and hospitality, healthcare sector, and agribusiness. The company currently operates at an international level in twenty-three countries worldwide.

Also, in his philanthropic nature, Tony Elumelu founded The Tony Elumelu Foundation, a charitable initiative that promotes entrepreneurship and empowers entrepreneurs across Africa.

On 24 September 2012, Elumelu became the first African member of the United States Agency for International Development (USAID). He was appointed to United States Agency for International Development’s (USAID) Private Capital Group for Africa (PCGA) Partners Forum, along with several leaders in the industry.

Their job was to advise the U.S. Government on the best strategies in dealing with Africa’s private sector and leveraging Global Private Capital for the development of Africa.

In 2012, Tony was appointed Senior investment advisor of the Nigerian Federal Ministry of Agriculture and Rural Development. He is the Vice-Chairman of the National Competitiveness Council of Nigeria (NCCN). Elumelu was also one of the co-chairs of the 26th World Economic Forum on Africa, which took place in Kigali, Rwanda, in May 2016.

Tony Elumelu is one of the wealth Nigerian Millionaires who own a private jet, he comfortably acquired his luxurious jet in 2015, and the Flacon 7x has been his means of transportation around the world.

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Emmanuel Ekokotu
Emmanuel Ekokotu
I'm a content marketer who writes about cryptocurrency and blockchain technology. I have written for cryptocurrency newsletters, ICOs, and crypto news sites. I specialize in creating high-quality content that is optimized for search engines and is engaging for readers. I also enjoy creating content for a wide range of topics from tech to health, automobile, gaming, and more.
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