Folorunsho Alakija

Born: 1951, Ikorodu, Lagos State, Nigeria;

Occupation: Businessperson;

Position: Executive Vice Chairman;

Company: Famfa Oil Limited;

Industry: Oil & Gas Exploration & Production, Apparel Manufacturing;

Residence: Nigeria;

Nationality: Nigerian;

Net worth: USD 1.7 Billion (2018/11/19);

Folorunsho Alakija

Mrs. Folorunsho (or Folorunso) Alakija is a Nigerian businesswoman and Nigeria's first female billionaire with a net worth of $2.5 billion (March 2014). She's the Executive Vice Chairman of Famfa Oil Limited (oil exploration and production company). She is also Group Managing Director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited.
Her career began in the mid 1970's as a secretary at the now-defunct International Merchant Bank of Nigeria, one of the West African nation's earliest investment banks. In the 1980s, after studying fashion design in England, she founded Supreme Stitches, a Nigerian fashion label that catered to upscale clientele.
In May 1993, her company Famfa Limited, applied for and was granted an Oil Prospecting License (OPL) on a  250,000 hectares (617,000 acres) block. Now referred to as OPL 216, it is located approximately 220 miles southeast of Lagos and 70 miles offshore Nigeria in the central Niger Delta. It is one of Nigeria's most prolific oil blocks.
In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off 8 percent of its stake in OPL 216 to Petrobras, a Brazilian company. Folorunsho Alakija and her family owned 60 percent.
Mrs. Alakija also has a real estate portfolio which is valued at an estimated $100 million.  Earlier this year, Nigerian and British media announced that she had acquired a property at One Hyde Park for an estimated $102 million. A source at Famfa Oil who asked for anonymity indeed confirmed that Mrs. Alakija actually acquired the property at One Hyde Park. Mrs. Alakija is also the owner of a Bombardier Global Express 6000 which she bought earlier this year for a reported $46 million.
Through her the Rose of Sharon foundation, Mrs. Alakija helps Nigeria's widows and orphans by empowering them through scholarships and business grants.
Primary Education: Hafodunos Hall in Llangernyw, Wales Secondary Education: Muslim High School Sagamu Ogun State, Nigeria Secretarial Studies: Pitman's Central College, London. Fashion Studies: The American College in London. Fashion Studies : Central School of Fashion.
Mrs. Alakija lives in Lagos, Nigeria with Modupe Alakija, her husband of 35 years, and their four sons and grandchild.

Let's Make Africa & The African Diaspora The Largest Economy In The World!

The African Diaspora is the worldwide collection of communities descended from native Africans or people from Africa. Black People!

One small step in overcoming 500 years of "The HUMILIATION of Black People." We must never forget!

A message from Errol I. Mars, founder of BlackEntrepreneurProfile.Com

I would like to tell you about our mission and how you can help us fulfill it. Our mission is to build the most comprehensive database of successful black entrepreneurs, executives and companies. We originally started blackentrepreneurprofile.com to show successful black people who didn't play sports or entertain others for a living. Over the years we've received many emails from users who really approached the fact that this resource was available and how it has motivated them or inspired their children.

The research we perform along with the free content we produce -- takes a lot of hard work, time and money. Striving to produce high quality content requires the support of sponsors who are aligned with our vision.

We need your help to accomplish this. We welcome any financial contribution you can make to help us improve our technology and content by contributing to us using one of the following methods.

Your contributions will help our small, independent team to focus on producing great content and will allow us to continue to grow Black Entrepreneurs & Executives Profiles.

Recently Added Black Executives

Occupation: Businesswoman; Position: Global Chief Marketing Officer; Company: Logitech International S.A.; Industry: Consumer electronics,…

Occupation: Businessman; Position: President & CEO, Converse, Inc.; Company: NIKE; Industry: Apparel, Accessories, Sports equipment; …

Occupation: Businesswoman; Position: President & CEO; Company: Electro Soft, Incorporated; Industry: Manufacturing, Electronics Components; …

Occupation: Businessperson; Position: VP, Strategy & Development; Company: NIKE, Inc.; Industry: Apparel, Accessories, Sports equipment; …

Occupation: Businessman; Position: President of Jordan Brand; Company: Nike, Inc.; Industry: Apparel, Accessories, Sports equipment; …

Latest News & Articles

Rihanna’s billion-dollar Savage X Fenty lingerie brand plans to open storefronts in 2022. “Retail is an important part of our growth strategy. You’ll…

Percy "Master P" Miller, the serial entrepreneur and master marketer known best for founding No Limits Records, is celebrating reaching 1 million…

Firefly Aerospace, Inc., a leading provider of economical and dependable launch vehicles, spacecraft, and in-space services, today announced that…

Rihanna is now worth $1.7 billion, making her the wealthiest female musician in the world. But it’s wasn't music that’s made her so rich.

Jay-Z and NBA player Andre Iguodala, was among group of investors who worked with Blackstone Group Inc. in purchasing Certified Collectibles Group, a…

Black Billionaires

Born: April 10, 1957, Kano, Kano State, Nigeria; Occupation: Businessperson; Position: Chairman, President; Company: The Dangote Group; …

Born: February 20, 1988, Saint Michael, Barbados; Occupation: Businesswoman, singer, songwriter, actress; Position: Co-Founder; Organizations: …

Born: December 4, 1969, Brooklyn, NY; Company: Roc Nation; Position: Founder; Industry: Media, Entertainment, Publishing, Fashion; Residence:…

Born: June 8, 1977, Atlanta, Georgia; Occupation: Rapper, Music Producer, Fashion Designer, Businessman; Position: Founder; Company: Yeezy; …

Born: January 29, 1954, Kosciusko, Mississippi, U.S.; Occupation: TV Host, Actress, Film & TV Producer, Businesswoman, Philanthropist; Position:…

FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra. Learn more...