Tony Elumelu Biography, Career, Foundation & Net Worth

Tony Elumelu Biography, Career, Foundation & Net Worth

Tony Elumelu Biography

Real nameTony Onyemaechi Elumelu
Date of birth22 March 1963
Country of OriginFederal Republic of Nigeria
OccupationEconomist
Net worth$700 million
WifeAwele Vivian Elumelu

Tony Onyemaechi Elumelu is a well known Nigerian Economist, an entrepreneur, great investor and a philanthropist who was the chairman of Heirs Holdings, Transcorps and the founder of the Tony Elumelu Foundation.

Tony Elumelu is known for his gesture towards promoting entrepreneurs in Africa through his personal commitment to funding his foundation and promoting the economy.

He has been able to win lots of honour for himself both in Nigeria and Africa simultaneously. Elumelu fills in as an Adviser to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum.

He sits on the Nigerian President’s Agricultural Transformation Implementation Council (ATIC). He is additionally the Vice-Chairman of the National Competitiveness Council of Nigeria (NCCN), whose development was to be a critical driver and fills in as Co-Chair of the Aspen Institute Dialog Series on Global Food Security.

He, therefore, seats as the Ministerial Committee to set up top-notch emergency clinics and analytic focuses across Nigeria, at the meeting of the Federal Government and the Presidential Jobs Board, designed to make 3 million positions in one year.

He additionally fills in as an individual from the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and USAID’s Private Capital Group for Africa Partners Forum.

He was one of the co-seats of the 26th World Economic Forum on Africa in Kigali, Rwanda, from 11 to 13 May 2016.

Tony Elumelu Early Life and Educational Background

Tony was born into the family Of Suzanne and Dominic Elumelu on the 22nd of march 1963 in Jos, Plateau state. He is 58 years of age.

Tony Elumelu originated from Onicha- Ukwu in Aniocha North Local Government Area of Delta State. One of his siblings he grew up with is also a  leader in the Federal House of representatives here in Nigeria.

Although his primary education was not really known but made known to be a graduate of Degree in Economics from the Bendel State University now Ambrose Alli University and proceeded for his Master of Science degree in the same course at the University of Lagos. He was reported by Time magazine as one of the most influential people in 2020.

Tony Elumelu Career Life

Tony Elumelu Career Life

Tony Elumelu started his career journey during his service year as a corp member of the national youth service in 1985  in a Nigerian Union bank as a salesman.   

In one of his interviews, he once said “I was just a salesman, a copier salesman to be specific, young, hungry and hardworking but the reality was that I was just one of the thousands of young Nigerian graduates all eager to succeed.

This made the first step into his career journey and In 1997 Tony was able to lead a small group of investors successfully to take over the struggling Crystal bank to another level which is now known as Standard Trust Bank.  

He later moved on to Allstates Trust bank in 2005 and the United  Bank of Africa also led one of the largest mergers in the banking sector in sub-Saharan Africa by successfully acquiring the United Bank For Africa(UBA).

Tony being, one of the largest mergers of both standard Trust Bank and  United Bank for Africa in 2005 was able to lead the company as group managing Director from a single country banking group to a Pan- Africa bank with subsidiaries in 20 African countries, France, U.S and U.k.

This achievement has been able to pave the way for him to be the present chair head of the United Bank for Africa in the year 2020 after he stepped down.

Philanthropy. (Heirs Holdings and the Tony Elumelu Foundation)

Philanthropy. (Heirs Holdings and the Tony Elumelu Foundation)

Tony owns a family investment holding company and Tony Elumelu Foundation which was founded in 2010 after retiring from the United Bank for Africa. 

The Heirs holdings and his philanthropic works through the Tony Elumelu Foundation and were established in the same year 2010.

Tony Elumelu Foundation is an African based foundation entrepreneurship in Africa that believes in the private sector’s role in Africa’s development with the flexibility on the economic philosophy of Africapitalism.

The introduction of this made it clear that African private sectors have the power to transform the continent through long term investments, creating both economic prosperity and social wealth.

Tony Elumelu supported with a $100million commitment of personal funds to improve and create 10,000 entrepreneurs across Africa over the next 10 years through this foundation which is designed to empower African entrepreneurs through a multi-year program of training, funding and mentoring.

The Heirs Holdings did not only maintain a portfolio of investment in several sectors like Diversified investment, Banking, financial services, Real Estate Energy, Oil and Gas, Health Care, insurance etc but also holds a controlling interest in Transnational corporation, a diversified conglomerate with business interest in power, Hospitality and Energy.

In 2020, Hera Oil & Gas, and Transnational corporation announced its acquisition of a 45% operating stake in a permit known as Oil mining lease 17 from Shell, Total and ENI a Deal worth more than 1 billion dollars.

Tony Elumelu Marital Status

Tony Elumelu Marital Status

Tony Elumelu is married to Awele Vivian Elumelu, a medical doctor by profession in 1993. They are both blessed with seven children.

Tony Elumelu Awards and Recognitions

*  He received the title of member of the order of the Federal Republic ( MFR), a national honour from the Federal Government of Nigeria in 2003.

* He has also received recognition and praise for his contributions to business and entrepreneurship.

* Tony Elumelu was given an award as the National honour of commander of the  order of the Niger (CON) for his service in promoting private enterprise in 2012

* In 2016, Elumelu was awarded  the Daily Times, Nigerian man of the year

* He was given the award of the Business council for international understanding Global Entrepreneurship in 2017

* All- Africa Business leaders Awards (AABLA) philanthropist of the year was given to him in 2018 and 2019.

* Bayero university Mano( Buk)- Honorary Doctor of Business degree in 2019

* He was  also honoured with The National productivity order of Merit Award in 2019

* He was honoured by Time magazine as one of the most influential people in 2020

Tony Elumelu Net worth

What is the current net worth of Tony Elumelu? Tony Elumelu has been estimated to have a net worth of $700 million.

Tony Elumelu Cars

* Range Rover

Tony Elumelu Cars

* Mercedes Benz S- Class.

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