Meet The Nigerian Female Billionaire Who is Now The Richest Black Woman In The World

October 10, 2013 by Don Saint 2 Comments

Nigerian Female Billionaire Defeats Oprah Winfrey To Become Richest Black Woman In The World.

Nigerian oil tycoon Folorunsho Alakija is now the richest black woman in the world with an estimated fortune of $7.3 billion.

She Started her career as a secretary in a bank in the mid 1970s, Alakija, 62, then studied fashion in London and returned to Nigeria to start a label, Supreme Stitches. But her biggest break came in oil.

In 1993, her company, Famfa Oil, was awarded an oil prospecting license, which later became OML 127, one of the country’s most prolific oil blocks, by then-president Ibrahim Babangida.

The company owned a 60 per cent stake in the block until 2000 when the Nigerian government unconstitutionally acquired a 50 per cent interest without duly compensating Alakija or Famda Oil.

In May 2012, Alakija, a married mother-of-four, challenged the acquisition and the Nigerian Supreme Court reinstated the 50 per cent stake to her company.

She also has a charity called the Rose of Sharon foundation that helps widows and orphans by empowering them through scholarships and business grants.

Forbes magazine had estimated Alakija’s fortune at $600 million, as of November 2012, but the magazine’s editor-in-chief Uzodinma Iweala said his researchers were ‘closer to the ground.’

They noted that Brazilian oil company, Petrobas, was looking to sell its 8 per cent stake in OML 127 for $1.5- $2.5 billion, and extrapolated that if they managed to sell it for $1 billion, Alakija’s 60 per cent stake would be worth at least $7.3 billion.

According to Forbes, Oprah Winfrey is worth $2.9 billion.

Biggest News

Folorunsho Alakija, Ibrahim Babangida, Nigeria, Oprah Winfrey

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

View all posts by Don Saint →

Cheryl Cole Flaunts her new look after split

DC Exclusive: “Most Of The Time I’m In Tears! ” The Love Doctor On Air, Daniel Akpata tells Diamond Celebrities

2 Responses to “Meet The Nigerian Female Billionaire Who is Now The Richest Black Woman In The World”

akpabio aniema Reply October 10, 2013 at 10:15

Thank God for making history.
Anonymous Reply October 10, 2013 at 10:06

Nigerians taking over the power mantle