Tony Elumelu Biography & Net Worth (2024)

Tony Onyemaechi Elumelu was born on 22nd of June, 1963. He is among the top 10 richest entrepreneurs in Nigeria with a net worth estimated at $1 billion this 2024 according to Forbes’ rich list.

Elumelu is a businessman by occupation, philanthropist, and a role model to most youths in Nigeria and Africa, using his foundation to enrich and train young people to be better people of society.


When the name Tony Elumelu is called, it means a lot to a lot of people. To some, they know him as the man that led a team that turned a one-country bank into a Pan-African Bank, to others what comes to mind is the Tony Elumelu Foundation that is centered on promoting and celebrating entrepreneurship and excellence in business across the African continent.


To me, Tony Elumelu is the man who made $123 million in 3 weeks. This was between March 1 to March 21, 2013. Enough of this, who is Tony? He is a businessman, a philanthropist and the chairman of the United Bank for Africa, Heirs Holdings, Transcorp and the founder of the Tony Elumelu foundation.

Family & Background Information

Tony Elumelu hails from Delta State, Onicha-Ukwu in Aniocha North Local Government Area precisely. However, he was born in Jos, Plateau State. Mr Tony Elumelu has four siblings of which Ndudi Elumelu, a Nigerian politician is among.

Tony Elumelu got his bachelor’s degree from Ambrose Alli University and proceeded to the University of Lagos where he got his master degree and then, attended the Harvard Business School.

He is married to Dr. Awele Vivian Elumelu, a medical doctor and with her, they were blessed with four children of which all are females.


While he must have had a lot going on for him, his rise to fame came when he acquired and turned Standard Trust Bank into a top player in the Nigerian banking industry. He did not stop there. In 2005, he led a group of investors that led a merger and brought about the United Bank for Africa which had grown so big and have branches in over 20 African countries and also in the United States of America and the United Kingdom.

Aside this, he founded Heirs Holding after he retired from UBA in 2010. He also has other businesses including landed properties.

Aside being a successful businessman, Tony Elumelu is a well-known philanthropist. He is the founder of the Tony Elumelu Foundation, a non-profit organization centered on promoting and celebrating entrepreneurship and excellence in business across the African continent.

One of the pet-project of which he is known for is the Tony Elumelu Entrepreneurship Programme. He is also involved in other non-profits works. Some of these includes him being a member of the World Economic Forum’s Regional Agenda Council on Africa at a time.

He is also a fellow of the Nigeria Leadership Initiative, he is a trustee of the Infant Jesus Academy in Delta State, he was a member of the Bretton Woods Committee and also involved with the Tony Blair Africa Governance initiative through his foundations.


Just like other great men and women who had excelled in their chosen career, Tony Elumelu had received numerous honors and awards. There’s no denial, he deserves all the awards and even much more than all he got. Some of his awards includes;

  • Mr Tony has the title has the title of Member of the order of the Federal Republic of Nigeria (MFR). This national title was conferred on him in 2003.
  • President Umar Musa Yar’adua asked him to serve on the Presidential Committee on the Global Financial Crisis in 2009.
  • He was listed on the list of the 100 most influential Africans in Business by New African Magazine in 2012.
  • In 2013, he was named African Business Icon.
  • He was decorated with the National Honor of commander of the Order of the Niger(CON)

Tony Elumelu Net Worth

Needless to say, Tony Elumelu is a wealthy man. He had made fortune not only for himself, but his family at large.

He has businesses and properties that brings him money always. As at 2015, Mr. Tony Elumelu was worth $700 million. Currently, his estimated worth is put at $1 billion this 2024.

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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