₦airaland Forum

ChidiKalu:
I said (I think) the "family" is collectively wealthier than Dangote (which is a possibility). It wasn't an authoritative statement and I was referring to the net assets of the Ibru family vs Dangote. 60-80% of Dangote's networth is derived from Nigeria stock exchange, paper valuation. No one knows the true extent of the Ibru family wealth as they are private...especially their real estate holdings across the globe. And I can tell you authoritatively that only Michael Ibru line is worth over $5B. There are documents that supports this.


You can't head POFON for years and not be a significant player in that industry. Aden River estates has over 6k hectares of Palm plantation...that's in no way small. Another major Nigerian player in the palm oil industry is Ajibola Adebutu.

PS: The Ibru family has stakes in all those industries you mentioned above. I think you truly don't know how wide their tentacles spread neither do you know how diversified they are (judging from your points on this thread).

If na Emmanuel Ibru you dey talk about (Osaze Odewingie's boss), then you dey correct. The man is "perhaps" the most prominent indigenous player in the Oil palm industry. Owns over 15k hectares of plantation in Nigeria. Na proper billionaire.


Cadidlady na you start this thread oh. Where you even dey sef?

Hedonisco:
Abeg make I laugh. Even some top level yahoo boys would dust his azz in that same Dubai.

Generally I don't need to mention some heavy names but trust me, 'ordinary' Jowi, Captain Okunbor's heir, and many more will run Obaro out of own.

Wait oh!! When you talked about the new kids on the block that would casually put the Ibrus to shame when it's a Matter of cash, na Jowi zaza you dey talk about? Oluwa oh 😂 😂. Jowi zaza and Ibru family in the same sentence, how nah? Omo see wetin Social media doings don cause oh. Dem no even born him papa.

Make I no too reason am...make I give you benefit of the doubt believe say na just Obaro & Jowi you dey strictly compare sha. Omo!!

casualobserver:
I say “might” because when the Ibru’s reigned $1b was hard to come by. We are talking about 70s and 80s, It’s today that everybody is a billionaire. The number of billionaires in the world were not many. Our entire revenue from oil was not even up to $15b in the 70s- 90s

A recent study by some American bussiness group alluded to the fact that Nigerian Billionaires of old are far richer than our current billionaires. You dey forget say in the 70s & 80s the naira was stronger than the Dollar. If you were a billionaire in naira in the 80s it means you were also a billionaire in dollars, as naira was stronger, and Michael Ibru was definitely a billionaire in the 80s. Na these days $5m fit make you naira billionaire.

The personal assets of Cecilia Ibru alone in 2010 dwarfed the combined networth of Otedola and Dangote. Didn't she forfeit $1.2B worth of assets to the govt? And that was just a fraction of her asset base sef.

Omo!! Leave Ibru family oh. The family wealth used to run in the Multi-billions of dollars (dis na public knowledge nah). Don't know about their worth now but they are still stupendously wealthy.

ChidiKalu:
I said (I think) the family collectively is wealthier than Dangote. We are talking assets here cos the Dangote Forbes networth is about assets.

"Alot" of new kids on the block would put the Ibrus to shame? Lmao. Please casually name like three of such new kids on the block.

PS: Obaro is not in hiding. Motherfucker is in "Dubai living his best life" (touring the world). He only went low-key after the oceanic crisis.

Oga there's nothing to "think" oh. The Ibrus are not richer than Dangote "presently". Emphasis on "presently". But the true test will be in Dangote family passing & maintaining wealth across decades and generations. Na here Ibru & Dantata family take be everybody papa - generational wealth.

And yes!! The nonsense Obaro dude is still ballin hard across the globe.

casualobserver:
Dunlop is dead. I don’t know if they had any interest in Dunlop but Dunlop left Nigeria decades ago. I dont know what became of the rubber plantations. As for Presco and Okomu. Nothing to do with the Ibru’s. If they have any shares they are minor shareholders. Both companies are majority owned by foreign companies and in the case of Okomu the largest Nigerian shareholder by far is Gbenga Oyebode.

As for a comment you made somewhere about comparisons to Dangote…..no way. The Ibru’s are rich and might have been worth close to a billion dollars or more in the ‘80s but I very much doubt the wealth is up to $500m today and I am being generous. I won’t be surprised if it’s only half. A lot of the wealth of old Nigerian money was destroyed by the devaluation of the Naira over the years. We disrespect $1b in this country. There are very few people in this country that are worth $200m talk less $1b. Probably less than 500.

Nigeria does not have 20 legitimate dollar billionaires quiet or no quiet. Even Elumelu that people shout billionaire is not a billionaire. Hiis major assets are uba and transcorp check his shareholding and the market cap

"might have been worth a billion dollars or more in the 80s". Might?

With the way you talked about the Ibrus owning Ilashe beach, I think say you really Sabi them oh Or close to them.

The Ibru family is/was a multi-billion dollar family. It's not even a question of "might".

Hedonisco:
Even Tunde Folawiyo alone is wealthier than the Adelekes. But he is dead silent.

That said, it is ridiculous to say that the Ibrus are wealthier than Dangote. Not anywhere close to close. Forget old name. In fact, a lot of the new kids on the block with access to new money schemes (related or unrelated to government funds) would casually put the Ibrus to shame when it is a matter of cash. Even their previously conspicuously extravagant children (Obaro and Co) have been forced into hiding because they simply lack contemporary liquidity and can no longer compete!

I commented on this earlier about the Ibrus not being richer than Dangote "presently". Bad economy over decades
& indeed Devaluation affected them, but they sha also offshored wealth too & Dem dey diversified.

But Obaro forced into hiding cos he lacks contemporary liquidity? 😂😂 Ahh!! Nooo oh. No talk am. Besides, na Obaro be the only really flamboyant & conspicuous Ibru that year sef. Irresponsible guy!!

ChidiKalu:
Lmao. "Owning" Lagos is the wrong word to use. Nobody owns Lagos.

But the Ibru dynasty was instrumental in the development of Lagos along with other notable folks.

Very silly wording. The Ibrus are not from Eko neither are they Yorubas. So how Dem want take own Lagos? Mteew.

But yeah!! Dem be major stakeholders for Eko and Naija.

ChidiKalu:
They owned Oceanic bank (although I think they still own some shares in Ecobank presently).

Lol. I wouldn't blame her if she hasn't heard of the Ibru family before now. I think they are wealthy and low-key. The family owns some popular bussinesses that a lot of people don't even know they own. Little or no media coverage. Proper old money behavior.

I read on an international bussiness magazine that they retained 10% ownership of Ecobank holdCo. Don't know how accurate that percentage is but I know say Dem still get shares for Ecobank.

NB: They owned 30%-40% of oceanic bank.

casualobserver:
The matter is probably subject to litigation or maybe it has been settled against him but one of the brothers once owned it, or bought it, when it was a worthless piece of land, of that I am sure.

The plan was to turn it into a resort.

If an Ibru owned/own it, na big man Michael be that. Baba almost bought everywhere.

ChidiKalu:
Yes, The Ibru family is extremely wealthy and connected. I think the family "collectively" is wealthier than Dangote. They've got investments/assets in almost every important sector of the economy. The Ibru port complex alone is a multi-billion money spinner.

PS: The Adelekes are non-factor here. They don't have it like that. It's OBO that gave them that wealth PR. There are wealthier Yoruba families.

They are wealthy, connected and respected, Dem get wealth pass Adeleke family by far, but Dem no hold bar pass Alhaji Dangote "presently" oh.

FSBoperator:
Several rubber, palm and Timber plantations in Delta state as well.

I believe they also own huge shares of Dunlop as well.

Correct. They are quite active in the agro industry. They own one of the largest poultries I have ever seen.

casualobserver:
Old money does not shout. The Ibru’s own the whole of ilashe beach, guardian newspapers, Sheraton, federal palace hotel amongst many other businesses.

Forget the Ibru’s they are not your mate. They are one of the few old money families that still have money. Particularly Micheal Ibru’s descendants.

Hmm!! Ibru family owns the whole of Ilashe beach? I no sure abt this one oh, but this is definitely news to me.