Nigerian visionary entrepreneur, economist and philanthropist Tony Elumelu has an estimated net worth $1 billion as of 2015, according to Forbes. Elumelu is chairman of Heirs Holdings, the United Bank of Africa and Transcorp.
Tony was born in the year 1963 in Jos, Nigeria. He earned a bachelor’s degree in economics from Ambrose Alli University and a Master of Science degree from the University of Lagos. He is also an alumnus of HBS’ advanced management program.
Elumelu carved a reputation as a corporate turn-around artist early in his career by turning Standard Trust Bank into one of the top-five players in Nigeria. He acquired United Bank of Africa in 2005. In the year 2010, he founded Heirs Holdings. The company invests in energy, financial services, hospitality, real estate, healthcare and agribusiness. It acquired a controlling interest in Transcorp, the largest publicly-traded conglomerate in Nigeria. Elumelu has an extensive portfolio of real estate across Nigeria.
Elumelu is the founder of The Tony Elumelu Foundation, which is charged with the mission of driving Africa’s economic development by enhancing the competitiveness of the continent’s private sector. He holds Nigeria’s national honors, the Commander of the Order of Nigeria and Member of the Order of the Federal Republic.
Tony Elumelu is married to a medical doctor, Awele Vivian and has five children. Currently he resides in Lagos, Nigeria.