Tony Elumelu Net Worth

Net Worth:$1.7 Billion
Date of Birth: March 22, 1963 (61 years old)
Profession:Economist, Businessperson, and Investor

What is Tony Elumelu’s net worth? How does Tony Elumelu make his money? Below is the current net worth of Tony Elumelu and how Tony Elumelu makes his money.

What is Tony Elumelu’s Net Worth?

Anthony Onyemaechi Elumelu better known as Tony Elumelu is a Nigerian businessperson, investor, economist, and humanitarian who has a net worth of $1.7 billion. Tony Elumelu is the founder of The Tony Elumelu Foundation, Heirs Holdings, and Trancorp Plc. Tony Elumelu in numeration, is the number 7 richest man in Nigeria as of 2022.

Tony Elumelu was enlisted on the Time 100 annual list in 2022 among the 100 most influential people in the world.


On 22 March 1963, Anthony Onyemaechi Elumelu was born in Jos, Plateau, to Dominic Elumelu and Suzanne Elumelu. He is an indigene of Delta state and hails from Onicha-Ukwu in Aniocha North Local Government Area. Tony Elumelu was raised by his parents alongside four of his siblings one of his siblings named Ndudi Elumelu is a House of Representative member representing Aniocha and Oshimilli and a minority leader.

Tony Elumelu obtained his higher education from the then Bendel State University which is now known as Ambrose Alli University. He later enrolled at the University of Lagos and bagged a master of science degree in Economics.


Prior to being a salesman, during his stint in the National Youth Service Corps in 1985, Tony Elumelu was designated through his Place of Primary Assignment (PPA) to serve at the Union Bank. He has served in lots of institutions ever since he began his career.

During the time when Crystal Bank now known as Standard Trust Bank was going through some financial instability, Tony Elumelu led a small group of investors in 1997 and took over Crystal Bank and within a few years, lots of lucrative amelioration was made in the company.

United Bank for Africa

In 2005, the was a merger between Standard Trust Bank and United Bank for Africa. Initially, the United Bank for Africa started out as a single-country bank. But later under Tony Elumelu’s administration as the Group Managing Director, the United Bank for Africa expanded from a single-country bank to a pan-African bank with subsidiaries in 20 African countries.

Tony Elumelu resigned as the Managing Director in 2010 and currently, he sits as the chairman of the board of directors in the United Bank for Africa

Heirs Holdings

Heirs Holdings is Tony Elumelu’s personal investment holding company. He founded Heir Holdings in 2010, and within the same year, he created the Tony Elumelu Foundation.

Heirs Oil & Gas and Transnational Corporation one of Heirs Holding’s associates revealed in 2021 that they have successfully secured a 45% operating stake worth over $1 billion.

Humanitarian services

Tony Elumelu founded the Tony Elumelu Foundation in 2010. The sole aim of the Tony Elumelu Foundation is to aid in the promotion and better improvement of entrepreneurial activities in Africa.

Tony Elumelu is the proponent of The philosophy of Africapitalism which states that “the African private sector has the power to transform the continent through long-term investments, creating both economic prosperity and social wealth.” This is a popular tenet among the African races and a lot of people have held on to this belief.

Personal Relationship

Tony Elumelu wed his wife Awele Vivien Elumelu in 1993. Awele Vivien Elumelu is a medical doctor by profession. Tony Elumelu and Awele Vivien Elumelu have a total number of seven children.

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While we always strive to ensure that our figures are as accurate as possible, please note that they are only estimates, unless otherwise indicated.

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