Mike Adenuga, born Michael Adeniyi Agbolade Ishola Adenuga Jr, on April 29, 1953, is a prominent Nigerian entrepreneur with a vast fortune. He is ranked as the fifth wealthiest individual in Africa by Forbes. Adenuga’s telecommunications company, Globacom, is the second largest in Nigeria and has expanded to operate in Ghana and Benin. In addition to his telecom investments, he also holds interests in Equitorial Trust Bank and the oil exploration company Conoil (previously known as Consolidated Oil Company).
Profile Summary
| Full Name: | Michael Adeniyi Agbolade Ishola Adenuga Jr |
| Date Of Birth: | April 29, 1953 |
| State Of Origin: | Ibadan, Oyo, Nigeria |
| Nationality: | Nigerian |
| Spouses: | Adefolake Emilia AdenugaTity Joyce Adenuga |
| Children: | 7 |
| Occupations: | Founder of GlobacomFounder of Conoil |
| Net Worth: | $6.7 billion |
Early Life And Education
Michael Adenuga Jr comes from a family of educators and businesspeople. His father, Oloye Michael Agbolade Adenuga Sr, was a schoolteacher, while his mother, Omoba Juliana Oyindamola Adenuga, had royal Ijebu heritage and was a businesswoman. Adenuga is of Yoruba descent.
He attended Ibadan Grammar School in Oyo State, Nigeria, for his secondary education, and Comprehensive High School in Aiyetoro for his Higher School Certificate. To support his university studies, he worked as a taxi driver. Adenuga earned degrees in Business Administration from Northwestern Oklahoma State University and Pace University in New York.
Career
At just 26 years old in 1979, Adenuga achieved his first million in sales by dealing in lace and soft drinks. In 1990, he acquired a drilling license and struck oil the following year in the shallow waters of Southwestern Ondo State through Consolidated Oil, becoming the first local oil company to do so on a large scale.
Despite facing challenges with his GSM license in 1999, Adenuga obtained a second one when the government conducted another auction in 2003. His entrepreneurial prowess was recognized when he was awarded African Entrepreneur of The Year at the inaugural African Telecoms Awards (ATA) in August 2007.
In a bold move in May 2015, Adenuga put forth a bid of $600 million to acquire Ivorian mobile telecom operator, Comium Côte d’Ivoire. As of May 2024, Forbes estimated his net worth at $6.7 billion.
Achievements and Recognitions
In recognition of his achievements, Adenuga has received several prestigious honors.
In 2012, the Nigerian government bestowed upon him the title of Grand Commander of the Order of the Niger. He also holds a Yoruba tribal chieftaincy as the “Otunba Apesin” of the Ijebu clan.
In 2018, Adenuga was honored by President Emmanuel Macron of France, who awarded him the insignia of a Commander of the Legion of Honour. Furthermore, in 2019, New African magazine recognized him as one of the Top 100 most influential Africans.
Death Rumor
On October 19, 2024, rumors flew on social media claiming that billionaire Mike Adenuga had passed away. The false reports quickly spread as hashtags like #MikeAdenuga and #RestInPeace began trending. However, Nigerian Media Personality Dele Momodu debunked the rumors, confirming that Adenuga is alive and well.
Personal Life
Within his personal life, Mike Adenuga has been married to multiple partners and is the father of numerous children. Adefolake Emilia Adenuga, his first wife, is the mother of Agbolade Adeniyi Ishola Paddy Adenuga.
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His current wife, Titi Joyce Adenuga, has multiple children with him. Bella Disu, a business executive, is his daughter from his union with Adefolake Emilia Adenuga.
Known as Nigeria’s second wealthiest individual, Adenuga is celebrated for his philanthropic endeavors. He established Globacom, the nation’s second-largest telecommunications company, and serves as the Chairman of Conoil.
Mike Adenuga Net Worth
With a net worth estimated at $6.7 billion by Forbes in May 2024, he has amassed wealth through various ventures. This includes ownership of Globacom, the second-largest telecom operator in Nigeria with operations in Ghana and Benin, as well as investments in Equitorial Trust Bank and Conoil (previously Consolidated Oil Company).
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