Business
UPDATE: Mike Adenuga Becomes Second Richest In Nigeria With Net Worth Of $7.4 Billion
The Genius Media Nigeria reports that Telecom billionaire, Mike Adenuga has reclaimed the position of Nigeria’s second-richest man with a net worth of $7.4 billion, pushing Abdul Samad Rabiu to third place.
This online newspaper learnt that Adenuga had ceded the second-richest position to Abdul Samad Rabiu due to a heavy drop in net worth value.
However, Forbes reassessed Adenuga’s net worth following a decline in June 2023, attributed to factors like the unification of the naira and a downturn in Conoil’s performance.
Recall that Adenuga had faced a significant dip in his net worth, plummeting to $3.6 billion in June 2023.
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.
Despite his billionaire status, Adenuga’s career journey has not been without challenges.
-
Politics6 days agoPROPHESY TO PRESIDENT BOLA AHMED TINUBU ABOUT 2027
-
News6 days agoFamily, Friends Celebrate Jailed Former Deputy Senate President, Ike Ekweremadu’s Birthday
-
Business4 days agoNigeria’s Azikiel Refinery to Begin Operations in 2025
-
Business6 days agoBaraza: Bribena pleads for understanding, highlights solutions to organization’s problems
-
Politics3 days agoYou Have a Few Days to go, Gov. Fubara Tells LGA Chairmen
-
Politics6 days agoFubara Swears-in Dagogo as Attorney-General, to Probe Wike’s 8 Years As Governor
-
Business6 days agoGunmen kidnap Dangote cement workers in Edo
-
Crime6 days ago$2.5bn fraud: EFCC to collaborate with UK prosecutors in Diezani’s case