Tony Elumelu Net Worth 2020 And Biography

Interesting facts about the philanthropist Tony Elumelu Net Worth – You cannot write about entrepreneurs and not talk about Tony Elumelu. Many of us know about the Tony Elumelu foundation popularly known as TEF, but we do not know the man behind this. This article will give you all the information which you need to know about this great entrepreneur. 

Tony Elumelu Net Worth 2020 And Biography

  • Date Of Birth: March 22nd, 1963
  • Occupation: Business Man
  • Country Of Origin: Nigeria
  • State Of Origin: Delta State
  • Estimated Net Worth: $1.4 Billion
  • Marital Status: Married
  • Private Phone Number: N/A



  • Background And Early Life

A Nigerian businessman, entrepreneur, investor and billionaire, Tony Elumelu was born on the 22nd of March 1963 that is like three years after Nigerian Independence. Born in Jos to Dominic and Suzanne Elumelu. From his name you can see that he hails from Onicha Ukwu in Aniochia North local government Area of Delta state.

  • Education

In terms of his educational background, he has done very well. He is a graduate of Ambrose Alli University where he got a bachelors degree, the University of Lagos where he got a master of science degree from there he went to Harvard Business school for the advanced management programme. If we check it out we can see that it is totally amazing. Educational is essential in the life of every human, apart from going to school and getting a degree there are also some moral things which you need to learn through school. If you check out top entrepreneurs today they speak mainly on education even those who were drop out from school and all that, they even had to go back. Not just getting the degree but education is something worth more than that. Before we divert from our main topic let’s go back to talk about this great man.

  • Family

His family background shows that Tony Elumelu has four other siblings which one of them is into politics. Ndudi Elumelu, he is a Nigerian politician and former member of the Nigerian Federal House of Representatives. Tony Elumelu who is married to a medical doctor Awele Vivian Elumelu, they both got married in 1993 and they have four daughters together.  Being an entrepreneur which Tony always wanted, made him excel in this field. Many entrepreneurs started small but today they have made it big and have gone higher. The key here is to start from a lower pace do not rush for every business or investment which you want to do, act takes time to grow so patience is the key which you need to get and attain all of that.

Tony Elumelu Net Worth Bill Gates And Bill Clinton

  • Career

Tony Elumelu started his walk to fame and wealth when he took over a seemingly significant struggling commercial bank in Lagos. He did not do this on his own, he actually did it with a small group of investors. Being a good businessman he went on to revive and make the business profitable again. This is actually known as the United Bank for Africa which is popularly called UBA bank, all of this was done in the year 2005. UBA bank is a popular bank in Nigeria, which serves to its fullest, although there might be some glitches, the team has actually done well.

UBA bank group grew so much and fast that it has its branches in up to 20 African countries. It also has branches in the United States and the United Kingdom with a good amount of customer base of more than seven million customers from African countries alone. 

  • Business

Apart from work with the UBA bank, Tony Elumelu was able to acquire lots of landed properties across Nigeria and a marginal stake in mobile Telecom firm MTN Nigeria. Retiring from UBA in 2010, he founded Heirs Holding an investment company whose interests are in financial services, energy, healthcare, agribusiness, real estate and finally hospitality. Apart from this, He is also the chairman of the Transnational Corporation of Nigeria Plc (Transcorp).  The company is a conglomerate with diversified interest in several sectors which includes the energy sector and Agribusiness.

  • Tony Elumelu Foundation TEF

There is actually a reason why many young entrepreneurs today look up to Tony Elumelu in terms of entrepreneurship. He has made a good name for himself, he has done a lot like empowering thousands of entrepreneurs across Africa through his foundation for which is an African based and fished philanthropic organization that promotes entrepreneurship and business leadership in the private sector across Africa.

Also known as TEF, The Tony Elumelu Foundation has been able to create over 160,000 direct and indirect jobs across Africa in the space of just three years. He was able to make a goal and he is gearing towards achieving that. He committed $100 million to the foundation with the goal of empowering 10,000 African entrepreneurs in a decade. TEF is committed to the pursuit of excellence in business leadership and entrepreneurship and to also promote the competitiveness of the private sector over and across Africa. Being one of the billionaires we have in Nigeria, he has been able to use his wealth to touch the lives of many, building many entrepreneurs in Africa. Apart from the funding the foundation also enables SMEs to build networks, share knowledge and connect with investors link with corporate supply chains.


  • Tony Elumelu Net Worth 2020 In Dollars Forbes: $1.4 Billion

For the interested readers wondering how much is Tony Elumelu worth. He is worth a staggering estimated amount of $1.4 Billion.

  • Awards and Recognition

Tony Elumelu is a philanthropist and he has received so many awards like in the year 2813, he was named African business Icon at the 2013 African Business Awards, that same year he received the leadership aware in business and philanthropy from the Africa American Institute(AAI) then in 2016 he was awarded a lifetime achievement award at the 5th edition of the annual economic forum of the Ivorian National Council of Employers and so many more.

Apart from getting lots of Award from different organizations he has gotten titles from different organizations. He was fingered the title of member of the Order of Federal Republic (MFR) , a national honour was given to him in 2013, voted African business leader of the year by African Investor Magazine in 2006 and was also recognized as the African banker if the year in 2008 by the same Magazine  Late President Umaru Musa Yar adua asked him to serve on the presidential committee on the Global Financial crisis in 2009, 2012 he was also listed as the New African magazine featured him in their list of the 100 most indulgent Africans in Business.

That’s all about Tony Elumelu Net Worth And Biography.


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Updated: — 11:25 am

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