Black Billionaires of 2019

2. Mike Adenuga

Net Worth: $9.1B

Mike Adenuga is a Nigerian businessman with interests in Oil and Telecoms. Nigerian-born Mike Adenuga, the world’s second-richest black person, built his fortune in oil and mobile telecoms.

His Conoil Producing Company was one of the first indigenous Nigerian companies to be granted an oil exploration license in the early 90s. The company is the operator of six blocks in the Niger Delta and also owns a 25% stake in the Joint Development Zone (JDZ) Block 4.

He is also the founder and sole owner of Globacom, a Nigerian mobile phone network that has more than 40 million subscribers in Nigeria and neighboring African countries. His property company, Cobblestone Properties, owns hundreds of prime residential and commercial property all over Nigeria.

Mike Adenuga made his first million at age 26 selling lace and distributing soft drinks.


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