Friday, 11 March 2016


Be inspired and get yourself to the top.

Name: Tony Elumelu
Age: 52
Net Worth: $700 million
Source of Wealth: Investments

In his early career, Elumelu acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005, his corporate reputation as an
African business leader was sealed when he led the largest merger in the banking sector in Sub-Saharan Africa to acquire United Bank for
Africa (UBA). In five years, he transformed it from a single-country bank to a pan-African institution with over seven million customers in
nineteen African countries.

Following his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests in the financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors. In the same year, he established the Tony Elumelu Foundation, an Africa-based and
African-funded philanthropic organization dedicated to the promotion of excellence in
business leadership and entrepreneurship and to enhancing the competitiveness of the private
sector across Africa.

In 2011, Heirs Holdings acquired a controlling interest in the Transnational Corporation of
Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business interests in the
agribusiness, energy, and hospitality sectors. Elumelu was subsequently appointed the chairman of the corporation.

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