Nigerian Oil Tycoon Becomes World’s Richest Black Woman

Folorunsho Alakija

Two weeks ago, Folorunsho Alakija, put her name on the world map by joining the billionaire’s boys’ club in Africa. With a wealth estimated to be at about $3.3 billion, Alakija has officially dethroned America’s entertainment icon, Oprah Winfrey, as the richest black woman in the world. Winfrey, previously the only Black woman in Forbes rich list, is a media mogul, television host, actress, producer and philanthropist. While Alakija’s wealth is attributed to oil and gas, she has had to work her way to where she is. According to an African business magazine, Ventures Africa, Alakija, a 61-year-old woman from Nigeria who arguably is worth $3.3 billion, or roughly $500 million more than Oprah’s $2.7 billion net worth, has comfortably edged Oprah out. Alakija is the founder and owner of Famfa Oil, which owns a 60 per cent interest in OML 127, an offshore oil field that produces roughly 200,000 barrels of oil per day and is worth an estimated $6.44 billion. A fashion designer and philanthropist, Alakija is married and has sons, as well as a grandchild. She owns at least $100 million in real estate and a $46 million private jet, Ventures Africa has reported. Born into a wealthy Nigerian family, Alakija started out as a secretary in the mid-1970s at the now defunct International Merchant Bank of Nigeria.
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