World’s Richest Black Woman – Folorunsho Alakija Way Ahead Of Oprah

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World's Richest Black Woman - Folorunsho Alakija Way Ahead Of Oprah
Folorunso Alakija

AFRICANGLOBE – Despite falling oil prices, Nigerian Billionaire, Folorunsho Alakija has edged past Oprah Winfery as world’s richest Black Woman, with a fortune of $7.3bn. On the other hand, Oprah Winfrey is worth $2.9billion, according to Forbes.

According to Ventures Africa magazine’s Rich List, Alakija generated her wealth from oil and gas.

“It is widely believed that Alakija’s friendship with Maryam Babangida, the late wife of former head of state, Ibrahim Babangida, played a huge role in her relatively inexpensive acquisition of the oil block back in 1993,” the magazine noted.

United Kingdom-based Business Consultant, Philip Obi cautions that Alakija’s stand is shaky because oil is fast losing value in the face of falling oil prices. “Except she decides to diversify, 90% wealth in oil look unsteady considering the alternative energy potential,” Obi said.

“The world is going digital. Very soon, wealth will no longer be what we use to know; look at Facebook, Twitter and LinkedIn. That is where the world is going into- Digital world. The people who will continue to rule will be those in communications, food and health, social media, finance. These pillars are going to be critical to run the world. People are becoming multi- millionaire by just building smile apps.”

For his part, National President of Independent Shareholders Association (ISAN), Sunny Nwosu said that her ranking as world’s richest Black woman is understandable because she has one of the biggest oil wells in the country that is managed on her behalf by a leading multinational oil corporation.

“Her oil well is one of the investments the military government bequeathed to people like her,” Nwosu said.

According to Ventures Africa, Africa boasts 55 billionaires and they’re worth a staggering $143.88 billion in total.

Alakija started her career as a secretary in a bank in the mid 1970s, Alakija, 62, then studied fashion in London and returned to Nigeria to start a label, Supreme Stitches. But her biggest break came in oil. In 1993, her company, Famfa Oil, was awarded an oil prospecting license, which later became OML 127, one of Nigeria’s most prolific oil blocks

The company owns a 60 per cent stake in the block, valued at around $7.3 billion, said Ventures Africa.


By: Kingsley Alu



  1. Negativity and jealousy will kill some people making comments here. Leave the women. It is their blessing. The reason why some of you people cannot be rich is because you tear down and not build up. Be happy for them. Shame on some of you!!

  2. That’s on point Family. You can’t be that rich without starving someone. REAL TALK!

  3. just want to tell her that my village needs money to renovate schools, they need water, and other support…i believe there are other villages in need of basic things for natives to be happy……we want to see her in deprived communities to help not just to be known the world richest black woman….what shall it profit Africa if we have richest men and women and yet the poor are becoming poorer

  4. Typical westernised mainstream media report.Why not praise both?And encourage them to invest more in their own.The competition should focus on celebrating how each is working to improve life in the community.Stop separating us…

  5. I think one person acquiring such huge wealth while the majority of people are in poverty is not something interesting. But I am happy at least that wealth is at the hands of an African. That wealth could have been taken by someone from Europe, America, Asia or elsewhere. Many outsiders are making billions off African resources and they don’t even have any ties with Africa or even caring about Africans. At least she made it out of her own land not some European who just come and profit off our sesources. But I will appreciate if you will use your wealth to invest in your country and to boost the economy and wellbeing of your people.

  6. We can have more than one black woman that has worked her way to the top without tearing one down. Oprah has put hundreds of black girls and boys thru college. She has provided scholar ships to hundreds more.Can’t we admire both?