Tony Elumelu’s Net Worth Rises to $2.15bn as Heirs Holdings Thrives

Nigerian billionaire Tony Elumelu, CFR, has seen his net worth climb to $2.15 billion, according to MoneyCentral’s analysis of his stakes in various companies that have recorded significant growth in recent years.

The evaluation, as of March 10, 2025, considers Elumelu’s holdings in both public and private companies, primarily through his investment firm Heirs Holdings, as well as his significant stakes in Transnational Corporation of Nigeria (Transcorp) and United Bank for Africa (UBA).

Breakdown of Elumelu’s Wealth

Publicly Traded Investments

• Transcorp Plc: Controlling a 35.93% stake, his shares are now worth $125 million following a stock price surge.
• UBA: As the largest individual shareholder with a 7.43% stake, his shares are valued at $63.69 million.

Key Private Holdings

• Heirs Energies: Valued at $1.75 billion, the oil and gas firm has expanded rapidly since acquiring OML 17.
• Heirs Insurance Group: Estimated at $28 million, it is one of Nigeria’s fastest-growing insurance companies.
• United Capital Plc: A 25% estimated stake in the investment firm adds another $61.5 million to his fortune.

Other Assets

• Real Estate Holdings: Estimated at $75 million, based on his extensive Nigerian property investments.
• Cash & Investments: A conservative estimate of $50 million in liquid assets.

Africapitalism & Philanthropy

Elumelu’s investment philosophy, Africapitalism, emphasizes private sector-led economic growth in Africa. Through the Tony Elumelu Foundation, he has committed $100 million to support African entrepreneurs, reinforcing his influence beyond business.

Conclusion

With continued growth across his portfolio, Tony Elumelu’s net worth stands at an estimated $2.15 billion, cementing his position as one of Africa’s most influential business leaders.