Tony Elumelu is a Nigerian entrepreneur, economist and the chairman of Heirs Holdings, the United Bank for Africa, Transcorp.
He is also a philanthropist that has positively impacted thousands of young African entrepreneurs through the Tony Elumelu Foundation. He founded the Tony Elumelu Foundation in 2010 as a non-profit organisation. His foundation is based on his belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development.
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Tony Elumelu Profile
Before we continue, here’s a quick run down on Tony Elumelu’s profile and a few things you’d love to know about him:
Full name: Anthony Onyemaechi Elumelu
Date of birth: 22nd March, 1963
Parents: Dominic Elumelu, Suzanne Elumelu
Spouse(s): Dr. Awele Elumelu
Children: Ogor, Onyinye, Oge, Ugo, Nneka
Education: UNILAG, Benue State University, Harvard Business School, Ambrose Alli University
Years active: 1987 – present
Known for: United Bank for Africa
Net worth: $700 million
Tony Elumelu Biography, Early Life, Family And Education
Tony Onyemaechi Elumelu was born on the 22nd of March, 1963 into the family of Dominic and Suzanne Elumelu. Though he originally hails from Onicha-Ukwu in Aniocha North Local Government Area of Delta State, Elumelu grew up in the Jos, Plateau State, Nigeria.
He holds two degrees in economics from Nigerian universities; a bachelor’s degree from Ambrose Alli University and a master of science degree from the University of Lagos. He also has a business certificate from Harvard Business School.
Tony Elumelu’s first step into limelight was in 1997 when he led a group of small investors in taking over a floundering commercial bank in Lagos. Within a few years, he had turned the bank into a profitable venture, and eventually merged it with the United bank for Africa in 2005. UBA now has subsidiaries in more than 20 countries in Africa and beyond.
In 2010, following his retirement from UBA, he founded Heirs Holdings, which invests in the financial services, real estate, hospitality, agribusiness, energy and healthcare sectors. He also established the Tony Elumelu Foundation in the same year.
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.
Tony Elumelu serves as an advisor to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum and vice-chairman of the National Competitiveness Council of Nigeria (NCCN). He also sits on the Nigerian President’s Agricultural Transformation Implementation Council (ATIC).
Tony Elumelu got married to Awele Vivien Elumelu, a medical doctor, in 1993, and they have seven children together including; Ogor Elumelu, Onyinye Elumelu, Oge Elumelu, Ugo Elumelu and Nneka Elumelu.
He has four siblings, among whom is Ndudi Elumelu, a popular politician and member of the Nigerian Federal House of Representatives.
Tony Elumelu is also related to the legendary Nigerian reggae artiste, Ras Kimono who died on 10 June 2018.
Following his retirement from UBA bank in 2010, Tony Elumelu founded the Tony Elumelu Foundation in as a non-profit organisation. The foundation is based on his belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development.
Recognition and Awards
Tony Elumelu’s business excellence and philanthropy has earned him a number of awards and recognition, including:
• Member of the Order of the Federal Republic (2003)
• African Business leader of the year by Africa Investor magazine (2008)
• African banker of the year by African Banker magazine (2008)
• 100 Most Influential Africans in Business by New African Magazine (2012)
• National Honour of Commander of the order of Niger (CON) (2012)
• Honorary Doctorate of Science Degree From Benue State University (2012)
• Honorary Doctorate of Business Administration from UNN (2012)
• Africa’s 20 most powerful people by Forbes magazine (2012)
• Leadership Award in Business and Philanthropy from the AAI (2013)
• ESI Most influential Figures in African Power (2015)
• CGECI Academy’s Lifetime Achievement Award (2016)
Tony Elumelu Net Worth
With an estimated net worth of $700 million, Tony Elumelu is really one of the richest men in Africa. His businesses span across different sectors including real estate and hospitality, agribusiness, energy, financial services and healthcare sectors.
Social Media Handles
You can connect with Tony Elumelu on:
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