NewStats: 3,259,429 , 8,170,067 topics. Date: Saturday, 24 May 2025 at 11:04 PM 6u3i6c

Telecom billionaire and one of Nigeria’s oil barons Mike Adenuga makes a comeback as Nigeria’s second-richest man with a $7.4 billion net worth valuation.

This surge in wealth can be attributed to Forbes’ recent reassessment of the valuation of his mobile phone network, Globacom, which he founded and currently stands as the third-largest telecom service provider in Nigeria.

Adenuga had ceded the second-richest position due to a heavy drop in net worth value. However, with Forbes revisiting their evaluations, he now stands as the second-richest person in Nigeria, trailing only behind Aliko Dangote.

Recall that Adenuga had faced a significant dip in his net worth, plummeting to $3.6 billion in June 2023, as reported by Nairametrics. The decline, from the initial $6.3 billion recorded in January according to Forbes, was influenced by multiple factors.

The unification of the naira in June adversely affected his net worth, coupled with the performance downturn of his stake in Conoil.

The Chairman of Conoil and founder of Globacom has experienced fluctuations in his net worth over the years, with it reaching $7.3 billion in 2022 and attaining its pinnacle at an impressive $10 billion in 2015.

Source: https://nairametrics.com/2024/01/11/mike-adenuga-net-worth-hits-7-4-billion-becomes-nigerias-second-richest/

I’m not sure Adenuga will ever meet Dangote unless he diversify his portfolio more.

When Dangote refinery come on stream, the gap he will use to lead the second spot will be so wide.

I love the Adenuga family! Family not loud and always killing it secretly!

Even the children who are suppose to expose the dudes wealth are so reserved.

Its really true! Real cash doesn't make noise!

Money man. Very silent winner

He should use 200 million dollars and rebuild the National Stadium Surulere, and write his name in gold.

Having such big money is not about hiding it in a bank, or in assets, just so you can be high on Forbes list.

Spend the money on public works to help your countrymen.

If I were him, I would be looking to spend a minimum 3 billion dollars of that money on public works.

CoronaVirusPro:
I love the Adenuga family! Family not loud and always killing it secretly!

Even the children who are suppose to expose the dudes wealth are so reserved.

Its really true! Real cash doesn't make noise!

I when I used to follow my grandma to Ijebu Ode that time, you’ll see Adenuga banner everywhere coz he usually sponsor the Ojude Oba festival in Ijebu ode. Na that time my grandma dey always tell me say Adenuga is one of the richest.

There is this one Ibadan man too Harry Akande, that time for Ibadan na him first get helipad for him house.

Congratulations 🎉

CoronaVirusPro:
I love the Adenuga family! Family not loud and always killing it secretly!

Even the children who are suppose to expose the dudes wealth are so reserved.

Its really true! Real cash doesn't make noise!

Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

Wainey:
Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

You said it all!

But sometimes. I always feel they should have at least a child who showcases that wealth

Rostikol:
He should use 200 million dollars and rebuild the National Stadium Surulere, and write his name in gold.

Having such big money is not about hiding it in a bank, or in assets, just so you can be high on Forbes list.

Spend the money on public works to help your countrymen.

If I were him, I would be looking to spend a minimum 3 billion dollars of that money on public works.

he is a philanthropist already. He has a foundation

Gentle Billionaire

🕶️

LegendHero:
Telecom billionaire and one of Nigeria’s oil barons Mike Adenuga makes a comeback as Nigeria’s second-richest man with a $7.4 billion net worth valuation, pushing Abdul Samad Rabiu to third position.

This surge in wealth can be attributed to Forbes’ recent reassessment of the valuation of his mobile phone network, Globacom, which he founded and currently stands as the third-largest telecom service provider in Nigeria.

Adenuga had ceded the second-richest position to Abdul Samad Rabiu due to a heavy drop in net worth value. However, with Forbes revisiting their evaluations, he now stands as the second-richest person in Nigeria, trailing only behind Aliko Dangote.

Recall that Adenuga had faced a significant dip in his net worth, plummeting to $3.6 billion in June 2023, as reported by Nairametrics. The decline, from the initial $6.3 billion recorded in January according to Forbes, was influenced by multiple factors.

The unification of the naira in June adversely affected his net worth, coupled with the performance downturn of his stake in Conoil.

The Chairman of Conoil and founder of Globacom has experienced fluctuations in his net worth over the years, with it reaching $7.3 billion in 2022 and attaining its pinnacle at an impressive $10 billion in 2015.

Source: https://nairametrics.com/2024/01/11/mike-adenuga-net-worth-hits-7-4-billion-becomes-nigerias-second-richest/

You keep fooling yourself online year to year he should go and clear his debt he has end up messing IBB investment up

Please be informed that he owns real companies. Not those sorts of bungalow companies that flood our market with fake goods. Even with this height attained, he still won’t come online to boast of owning the whole of Nigeria.

Actual billionaire with billionaire mentality ✅

Thank God for TIB, Atiku and IBB may God forever bless then for channeling funds from TIB to glo, my sympathy for the staff of TIB who became the sacrifice to produce a billionaire

LegendHero:
https://nairametrics.com/2024/01/11/mike-adenuga-net-worth-hits-7-4-billion-becomes-nigerias-second-richest/

Keep deceiving yourselves on social media almost all the business he is managing nose diving from Glo to Conoil

Nigeria Second Richest Man
Or
Known Nigeria Second Richest Man
No Gree for anybody

Bestmanfornow:

Keep deceiving yourselves on social media almost all the business he is managing nose diving from Glo to Conoil

It seems this is another paper evaluation gone wrong because Glo is not in good financial state, most companies in Lagos are in red though

All these billionaires in disguise. Respect man.🙌

kettykin:
Thank God for TIB, Atiku and IBB may God forever bless then for channeling funds from TIB to glo, my sympathy for the staff of TIB who became the sacrifice to produce a billionaire

Why does it feel like you are crying with your comment ?

LegendHero:


I when I used to follow my grandma to Ijebu Ode that time, you’ll see Adenuga banner everywhere coz he usually sponsor the Ojude Oba festival in Ijebu ode. Na that time my grandma dey always tell me say Adenuga is one of the richest.

There is this one Ibadan man too Harry Akande, that time for Ibadan na him first get helipad for him house.

What has this Yoruba and hausa billioniers contributed in there communities,apart show off.Political induced billioniers.

Wainey:
Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

This is totally FALSE. You people should stop pushing this false narrative because it's sickening. Being loud or quiet is all about choices. There's no one-fits-it-all rule for how people choose to live their life.

Davido is rich and very loud. He even posts his expensive lifestyle on social media, making you wonder why he hasn't been used to wealth since he was born into it.

LegendHero:


I when I used to follow my grandma to Ijebu Ode that time, you’ll see Adenuga banner everywhere coz he usually sponsor the Ojude Oba festival in Ijebu ode. Na that time my grandma dey always tell me say Adenuga is one of the richest.

There is this one Ibadan man too Harry Akande, that time for Ibadan na him first get helipad for him house.

Harry Akande would be in the top 5 in the country then.

Lol Mak he sha go upgrade him network and also pay MTN....

SoNature:


This is totally FALSE. You people should stop pushing this false narrative because it's sickening. Being loud or quiet is all about choices. There's no one-fits-it-all rule for how people choose to live their life.

Davido is rich and very loud. He even posts his expensive lifestyle on social media, making you wonder why he hasn't been used to wealth since he was born into it.

Floyd Mayweather too

SoNature:


This is totally FALSE. You people should stop pushing this false narrative because it's sickening. Being loud or quiet is all about choices. There's no one-fits-it-all rule for how people choose to live their life.

Davido is rich and very loud. He even posts his expensive lifestyle on social media, making you wonder why he hasn't been used to wealth since he was born into it.

You can’t use Davido as an example because he is in showbiz business.

Even poor artist show off with fake lifestyle let alone rich one.

Yet MTN keeps disconnecting you for not paying connectivity fees?

Wainey:
Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

adenuga is richer than dangote in real sense

LegendHero:


lol 😂

I know it’s very hard playing second fiddle.

You’ll always be bitter and call anything propaganda.

Glo not paying MTN is not because they don’t have money. It’s just the usual game those companies play.

How does that negate Glo market cap or affect their revenue?

Keep fooling yourself, only Glo is owing other networks

Bestmanfornow:

Keep fooling yourself, only Glo is owing other networks

Am I the only fooling myself or you’re the one fooling yourself?

Just that your tears can’t remove Mike Adenuga name from the list. If I were you too, I will be sad.

Update: Femi Otedola just ed the official $$ Billionaire back too.

You’ll need another epistle to write on Forte too.