Oprah No Longer the Richest Black Woman in the World; Who is?
Media Queen Oprah Winfrey has been unseated as the world’s richest black woman. The title now belongs to Nigerian oil baroness, fashionista and philanthropist Folorunsho Alakija. Her worth is a whopping $3.3 billion!
Contrary to an earlier Forbes report, Ventures Africa set the record straight on behalf of the 61-year-old tycoon.
Alakija began her career as a secretary for one of Nigeria’s earliest investment banks, the International Merchant Bank of Nigeria which is now defunct. After 10 years of service, she left to study fashion design in England. Upon her return, she established Supreme Stitches, a premium Nigerian fashion label which catered exclusively to upscale clientele.
While the fashion business flourished thanks to the patronage of fashionable military wives and society women, Alakija was motivated to venture out into the oil industry where she amassed most of her wealth.
In 1933 she applied for an Oil Prospecting License, which granted her company Famfa Limited the license to look for oil on a 617,000 acre block (approximately 220 miles South East of Lagos and 70 miles offshore Nigeria in the central Niger Delta.) This block of land is now known as OML 127 and Alakija’s family holds a 60% stake.
Please visit Ventures Africa to learn more about this remarkable story, and be sure to share this with your friends.
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