Mike Adenuga Net Worth Declines By $100 Million In 2024

Mike Adenuga Net Worth declined by a whopping $100 million in 2024.

 

NewsOnline Nigeria reports that the wealth of Africa’s richest individuals took a hit in 2024, with the combined net worth of the continent’s top billionaires declining over the past 363 days.

 

According to data collated by NewsOnline Nigeria from Forbes estimates, only 10 of Africa’s 20 billionaires recorded significant gains or losses this year, with their collective wealth now standing at $61.4 billion—down from $63 billion at the start of the year.

 

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This year, four of Africa’s wealthiest individuals collectively lost a staggering $4.5 billion from their fortunes, reflecting the profound impact of economic headwinds and market volatility on even the most robust industries. Delays in large-scale projects, declining asset values, and fluctuating markets contributed to these setbacks, affecting sectors like cement production, and energy.

 

Mike Adenuga Net Worth Declines By $100 Million In 2024

 

 

Loss: ($100 million) 

Net Worth: $6.8 billion (Jan 2024: $6.9 billion) 

Sector: Diversified 

NewsOnline Nigeria reports that Mike Adenuga, founder of Globacom, Nigeria’s second-largest telecommunications network, saw a $100 million decline in his net worth in 2024, leaving him with $6.8 billion. Globacom continues to serve over 60 million subscribers across Nigeria, while his oil exploration company, Conoil Producing, operates six blocks in the Niger Delta. Adenuga also maintains stakes in Nigerian banking and energy firms. Despite the slight setback, Adenuga’s influence in the telecom and oil sectors remains a cornerstone of Nigeria’s economy, ensuring his continued prominence among Africa’s elite billionaires.