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Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest (17308 Views)

Dangote Gained $5 Billion In 22 Days As Net Worth Hits $20 Billion / Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion / Mike Adenuga's House In BANANA ISLAND, Lagos (Photo) (2) (3) (4)

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Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by LegendHero(m): 7:24pm On Jan 11
Telecom billionaire and one of Nigeria’s oil barons Mike Adenuga makes a comeback as Nigeria’s second-richest man with a $7.4 billion net worth valuation.

This surge in wealth can be attributed to Forbes’ recent reassessment of the valuation of his mobile phone network, Globacom, which he founded and currently stands as the third-largest telecom service provider in Nigeria.

Adenuga had ceded the second-richest position due to a heavy drop in net worth value. However, with Forbes revisiting their evaluations, he now stands as the second-richest person in Nigeria, trailing only behind Aliko Dangote.

Recall that Adenuga had faced a significant dip in his net worth, plummeting to $3.6 billion in June 2023, as reported by Nairametrics. 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.
Source: https://nairametrics.com/2024/01/11/mike-adenuga-net-worth-hits-7-4-billion-becomes-nigerias-second-richest/

51 Likes 12 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by LegendHero(m): 7:26pm On Jan 11
I’m not sure Adenuga will ever meet Dangote unless he diversify his portfolio more.

When Dangote refinery come on stream, the gap he will use to lead the second spot will be so wide.

37 Likes 6 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by CoronaVirusPro: 7:27pm On Jan 11
I love the Adenuga family! Family not loud and always killing it secretly!

Even the children who are suppose to expose the dudes wealth are so reserved.

Its really true! Real cash doesn't make noise!

218 Likes 25 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Samakus(m): 7:28pm On Jan 11
Money man. Very silent winner

108 Likes 11 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Rostikol: 7:29pm On Jan 11
He should use 200 million dollars and rebuild the National Stadium Surulere, and write his name in gold. cool

Having such big money is not about hiding it in a bank, or in assets, just so you can be high on Forbes list.

Spend the money on public works to help your countrymen.

If I were him, I would be looking to spend a minimum 3 billion dollars of that money on public works.

36 Likes 3 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by LegendHero(m): 7:31pm On Jan 11
CoronaVirusPro:
I love the Adenuga family! Family not loud and always killing it secretly!

Even the children who are suppose to expose the dudes wealth are so reserved.

Its really true! Real cash doesn't make noise!


I remember when I used to follow my grandma to Ijebu Ode that time, you’ll see Adenuga banner everywhere coz he usually sponsor the Ojude Oba festival in Ijebu ode. Na that time my grandma dey always tell me say Adenuga is one of the richest.

There is this one Ibadan man too Harry Akande, that time for Ibadan na him first get helipad for him house.

83 Likes 9 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by TruthsFM: 7:45pm On Jan 11
Congratulations 🎉

1 Like 2 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Wainey: 7:53pm On Jan 11
CoronaVirusPro:
I love the Adenuga family! Family not loud and always killing it secretly!

Even the children who are suppose to expose the dudes wealth are so reserved.

Its really true! Real cash doesn't make noise!

Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

118 Likes 8 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by CoronaVirusPro: 7:55pm On Jan 11
Wainey:
Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

You said it all!

But sometimes. I always feel they should have at least a child who showcases that wealth

13 Likes

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Wainey: 7:55pm On Jan 11
Rostikol:
He should use 200 million dollars and rebuild the National Stadium Surulere, and write his name in gold. cool

Having such big money is not about hiding it in a bank, or in assets, just so you can be high on Forbes list.

Spend the money on public works to help your countrymen.

If I were him, I would be looking to spend a minimum 3 billion dollars of that money on public works.
he is a philanthropist already. He has a foundation

46 Likes 3 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by illicit(m): 8:01pm On Jan 11
Gentle Billionaire

🕶️

34 Likes 3 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Bestmanfornow: 8:05pm On Jan 11
LegendHero:
Telecom billionaire and one of Nigeria’s oil barons Mike Adenuga makes a comeback as Nigeria’s second-richest man with a $7.4 billion net worth valuation, pushing Abdul Samad Rabiu to third position.

This surge in wealth can be attributed to Forbes’ recent reassessment of the valuation of his mobile phone network, Globacom, which he founded and currently stands as the third-largest telecom service provider in Nigeria.

Adenuga had ceded the second-richest position to Abdul Samad Rabiu due to a heavy drop in net worth value. However, with Forbes revisiting their evaluations, he now stands as the second-richest person in Nigeria, trailing only behind Aliko Dangote.

Recall that Adenuga had faced a significant dip in his net worth, plummeting to $3.6 billion in June 2023, as reported by Nairametrics. 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.

Source: https://nairametrics.com/2024/01/11/mike-adenuga-net-worth-hits-7-4-billion-becomes-nigerias-second-richest/
You keep fooling yourself online year to year he should go and clear his debt he has end up messing IBB investment up

10 Likes 4 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by ILoveNG: 8:07pm On Jan 11
Please be informed that he owns real companies. Not those sorts of bungalow companies that flood our market with fake goods. Even with this height attained, he still won’t come online to boast of owning the whole of Nigeria.

Actual billionaire with billionaire mentality ✅

68 Likes 16 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by kettykin: 8:10pm On Jan 11
Thank God for TIB, Atiku and IBB may God forever bless then for channeling funds from TIB to glo, my sympathy for the staff of TIB who became the sacrifice to produce a billionaire

10 Likes 1 Share

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Bestmanfornow: 8:13pm On Jan 11
LegendHero:
https://nairametrics.com/2024/01/11/mike-adenuga-net-worth-hits-7-4-billion-becomes-nigerias-second-richest/
Keep deceiving yourselves on social media almost all the business he is managing nose diving from Glo to Conoil

8 Likes 1 Share

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by talk2hb1(m): 8:22pm On Jan 11
Nigeria Second Richest Man
Or
Known Nigeria Second Richest Man

No Gree for anybody

7 Likes 3 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by kettykin: 8:24pm On Jan 11
Bestmanfornow:

Keep deceiving yourselves on social media almost all the business he is managing nose diving from Glo to Conoil
It seems this is another paper evaluation gone wrong because Glo is not in good financial state, most companies in Lagos are in red though

5 Likes 2 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Cassandraloius: 8:27pm On Jan 11
All these billionaires in disguise. Respect man.🙌

8 Likes

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Elemosho478: 8:29pm On Jan 11
kettykin:
Thank God for TIB, Atiku and IBB may God forever bless then for channeling funds from TIB to glo, my sympathy for the staff of TIB who became the sacrifice to produce a billionaire

Why does it feel like you are crying with your comment ? grin

55 Likes 7 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Ibadanpikin: 8:33pm On Jan 11
LegendHero:


I remember when I used to follow my grandma to Ijebu Ode that time, you’ll see Adenuga banner everywhere coz he usually sponsor the Ojude Oba festival in Ijebu ode. Na that time my grandma dey always tell me say Adenuga is one of the richest.

There is this one Ibadan man too Harry Akande, that time for Ibadan na him first get helipad for him house.

What has this Yoruba and hausa billioniers contributed in there communities,apart show off.Political induced billioniers.

4 Likes 1 Share

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by SoNature(m): 8:37pm On Jan 11
Wainey:
Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media

This is totally FALSE. You people should stop pushing this false narrative because it's sickening. Being loud or quiet is all about choices. There's no one-fits-it-all rule for how people choose to live their life.

Davido is rich and very loud. He even posts his expensive lifestyle on social media, making you wonder why he hasn't been used to wealth since he was born into it.

28 Likes 6 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by victorDanladi: 8:40pm On Jan 11
LegendHero:


I remember when I used to follow my grandma to Ijebu Ode that time, you’ll see Adenuga banner everywhere coz he usually sponsor the Ojude Oba festival in Ijebu ode. Na that time my grandma dey always tell me say Adenuga is one of the richest.

There is this one Ibadan man too Harry Akande, that time for Ibadan na him first get helipad for him house.


Harry Akande would be in the top 5 in the country then.

7 Likes

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by inoki247: 8:41pm On Jan 11
Lol Mak he sha go upgrade him network and also pay MTN....

10 Likes

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Nadingo: 9:12pm On Jan 11
SoNature:


This is totally FALSE. You people should stop pushing this false narrative because it's sickening. Being loud or quiet is all about choices. There's no one-fits-it-all rule for how people choose to live their life.

Davido is rich and very loud. He even posts his expensive lifestyle on social media, making you wonder why he hasn't been used to wealth since he was born into it.
Floyd Mayweather too

10 Likes 2 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by LegendHero(m): 9:15pm On Jan 11
SoNature:


This is totally FALSE. You people should stop pushing this false narrative because it's sickening. Being loud or quiet is all about choices. There's no one-fits-it-all rule for how people choose to live their life.

Davido is rich and very loud. He even posts his expensive lifestyle on social media, making you wonder why he hasn't been used to wealth since he was born into it.

You can’t use Davido as an example because he is in showbiz business.

Even poor artist show off with fake lifestyle let alone rich one.

44 Likes 3 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Yankee101: 9:19pm On Jan 11
Yet MTN keeps disconnecting you for not paying connectivity fees?

3 Likes 1 Share

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by buhariguy(m): 10:02pm On Jan 11
Wainey:
Rich people are always quiet.
They know they are at the top and doesn't need to prove it to anyone.
Na poor people deh try to impress media
adenuga is richer than dangote in real sense

4 Likes 2 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by Bestmanfornow: 10:06pm On Jan 11
LegendHero:


lol 😂

I know it’s very hard playing second fiddle.

You’ll always be bitter and call anything propaganda.

Glo not paying MTN is not because they don’t have money. It’s just the usual game those companies play.

How does that negate Glo market cap or affect their revenue?
Keep fooling yourself, only Glo is owing other networks

3 Likes 2 Shares

Re: Mike Adenuga Net Worth Hits $7.4 Billion, Becomes Nigeria’s Second Richest by LegendHero(m): 10:14pm On Jan 11
Bestmanfornow:

Keep fooling yourself, only Glo is owing other networks

Am I the only fooling myself or you’re the one fooling yourself?

Just that your tears can’t remove Mike Adenuga name from the list. If I were you too, I will be sad.

Update: Femi Otedola just joined the official $$ Billionaire back too.

You’ll need another epistle to write on Forte too.

29 Likes 7 Shares

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