Nigerian billionaire businessman Mike Adenuga's net worth has increased by $700 million in 2024, rising from $6.1 billion at the beginning of the year to $6.8 billion in December.
Forbes, the US-based business magazine renowned for tracking the fortunes of global billionaires, reported that Adenuga's fortune, pegged at $6.1 billion as of January 1, 2024, grew to $6.8 billion as of January 1, 2024. December 31, 2024.
According to the news magazine Billionaires.Africa, despite the widespread currency depreciation in Africa, including Nigeria, Adenuga maintained his position among the richest people on the continent and ranked 448th among the richest people in the world.
Adenuga's business interests span telecommunications, oil production, banking, real estate and manufacturing. However, much of his fortune comes from the success of Globacom, Nigeria's second largest telecommunications operator, which has more than 60 million subscribers.
Globacom, often credited with revolutionizing Nigeria's telecommunications sector, remains a cornerstone of his business empire.
In 2024, Globacom continued to expand its influence by launching digital innovation centers to foster entrepreneurship and technological growth.
The first center was launched in Lagos, with additional centers planned in Port Harcourt, Ibadan and Abuja by mid-2025.
Globacom's fintech arm, MoneyMaster Payment Service Bank, also gained momentum by leveraging a network of 100,000 agents to improve financial inclusion for Nigeria's underserved population.
Beyond telecommunications, Adenuga's companies include Conoil Protaining, a major oil exploration company with significant reserves, and Cobblestone Properties, which develops high-end real estate projects.
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