Folorunsho Alakija Net Worth, Age, Height, Biography, Children, Husband, Family, Parents
Folorunsho Alakija Net Worth
Folorunsho Alakija, a Nigerian businesswoman and philanthropist has an estimated net worth of $1 billion.
| Net Worth | $1 billion |
| Name | Folorunsho Alakija |
| Gender | Female |
| Born | 15 July 1951 |
| Age | 72 years old |
| Place of birth | Ikorodu, Lagos State |
| Profession | Businesswoman |
| Nationality | Nigerian |
Who is Folorunsho Alakija?
Folorunsho Alakija, a Nigerian businesswoman and philanthropist, is a billionaire with interests in the fashion, oil, real estate, and printing industries.
She holds key positions in various companies, including being the Group Managing Director of The Rose of Sharon Group, which includes The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited, as well as the executive vice-chairman of Famfa Oil Limited.
Additionally, Alakija has a majority stake in DaySpring Property Development Company. Her remarkable success has earned her the title of the richest woman in Nigeria, with an estimated net worth of $1 billion in 2020, as recognized by Forbes.
In 2015, Forbes also ranked her as the second most powerful woman in Africa, just after Ngozi Okonjo-Iweala, and the 87th most powerful woman in the world.
Age - How old is Folorunsho Alakija?
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Born on 15 July 1951, in Ikorodu, Southern Region, British Nigeria (now in Lagos State, Nigeria), Folorunsho Alakija's age is 72 years old.
Folorunsho Alakija parents
Folorunso's father, Chief L. A. Ogbara, was a prominent figure in Ikorodu, Lagos State.
He was known for his status as a chief and for having married eight wives, with Folorunso's mother being his first wife.
Chief Ogbara was also a prolific father, having had a total of 52 children.
Who are Folorunsho Alakija Husband and Children?
Alakija married a lawyer, Modupe Alakija of the Adeyemo Alakija family, in November 1976.
They reside in Lagos, Nigeria, with their four sons and their grandchildren. Her nephew is DJ Xclusive.
In June 2017, Folorunso's son Folarin Alakija married Iranian model Nazanin Jafarian Ghaissarifar at a wedding at Blenheim Palace in England.
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Media reports suggested the event was one of the world's most expensive weddings.
Career
Alakija started her 12-year banking career in 1974 as an executive secretary at Sijuade Enterprises in Lagos, Nigeria, shortly after completing a Secretarial Course at Pitman's Central College London. She later moved to the First National Bank of Chicago, which later became FinBank and is now acquired by FCMB (First City Monument Bank), where she served as the Executive Secretary to the managing director.
She then transitioned to the International Merchant Bank of Nigeria (formerly First National Bank of Chicago) as the Head of the Corporate Affairs Department and subsequently as the Office Assistant to the Treasury Department.
Alakija's passion for fashion led her to study fashion design at The American College in London and the Central School of Fashion.
In 1996, she established her own fashion label, initially known as Supreme Stitches, which was later renamed The Rose of Sharon House of Fashion. She also served as the president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).
In May 1993, Alakija applied for an oil prospecting license (OPL) and was granted the license for a 617,000-acre block, now known as OPL 216, through her company Famfa Limited.
This block is located approximately 350 kilometres (220 miles) southeast of Lagos and 110 kilometres (70 miles) offshore of Nigeria in the Agbami Field of the central Niger Delta.
In September 1996, Alakija entered into a joint venture agreement with Star Deep Water Petroleum Limited, a wholly owned subsidiary of Texaco, transferring a 40 percent stake to Star Deep.
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However, challenges arose when the Nigerian government claimed a 40 percent stake in the oil block after the discovery of oil, and later increased it to an additional 10 percent.
The government argued that if Alakija and her family were allowed to retain their stake, they would stand to make $10 million a day. Alakija disputed this claim and eventually won.
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