Mike Adenuga inches closer to Dangote as he becomes Nigeria’s 2nd richest man

Mike Adenuga has become Nigeria’s second richest man.
Forbes reported his net worth to be around $7.4 billion.
This is a significant jump from his net worth at the start of the year which was $3.1 billion.

Forbes real-time billionaire index currently has Mike Adenuga as one of the top 5 richest men in Africa. This is a significant jump from just a week ago when he was the continent’s 10th richest man.

According to the real-time index, Mike Adenuga is now worth $7.4 billion as opposed to being worth $3.1 billion at the start of the year.

For some time now, Nigeria’s top billionaire spot had been exclusive to the continent’s richest man Aliko Dangote, and philanthropist extraordinaire, Abdulsamad Rabiu.

Fluctuating between $6 billion to $7 billion, Abdulsamad Rabiu has held the spot of Nigeria’s second richest man for about 2 years now.

Dangote has retained a firm lead in this regard, standing not only as the country’s richest man but also the continent’s.

Naira unification dip

Mike Adenuga's net worth had taken a significant dip, following the unification of the Naira, initiated by the country's President, Bola Tinubu, just a few weeks after his inauguration.

While Dangote also suffered the same set back, he seemed to have bounced back quicker, with a current net worth of $14.3 billion as opposed to his net worth of $13.5 billion at the start of 2023. As of July, Dangote was worth $10.2 billion, posting a loss of about $706 million, equivalent to 6.50% of his fortune.

Mike Adenuga was estimated by Forbes to be worth $5.6 billion at the start of 2023, until a drop in June due to the president's initiative, which reduced his net worth to $3.6 billion. He was said to have lost $2.7 billion.

Abdulsamad Rabiu was not exempted from this debacle as he too lost about $2.73 billion from his wealth, just a day after the president's decision to float the currency. With a current net worth of $6.2 billion, he hasn't quite bounced back to the $7.6 billion he started 2023 off with.