Tuesday, April 8, 2014

Richest Black Woman in the World: Folorunsho Alakija

Folorunsho Alakija
The last HGP post profiled  Aliko Dangote -- the Nigerian mogul worth 25 billion dollars -- and in order to devote fair gender time, this post is on the richest black woman in the word -- and her name is not Oprah.

Once again, Nigerian nabs top honor:

With a net worth of over $3 billion dollars and climbing Folorunsho Alakija, with a background in oil and fashion, stands atop the black female billionaire club.

We didn't think it was possible, but Oprah Winfrey has been dethroned as the richest black woman in the world. The new leading lady is oil baroness Folorunsho Alakija from Nigeria.
While drilling oil has reportedly made the 61-year-old owner of FAMFA Oil Limited a very rich woman -- she is estimated to be worth at least $3.2 billion -- Alakija started her ascent to financial supremacy in fashion.

Born into a wealthy family, Alakija studied fashion design in England back in the '80s and soon after founded the Nigerian clothing label Supreme Stitches. Her one-of-a-kind creations were worn by the who's who of African society, quickly making her the premier fashion designer in the West African country. In fact, she has been called one of the "pioneers of Nigerian fashion" and stays connected to the industry through the Fashion Designers Association of Nigeria (FDAN).

The well-heeled businesswoman and philanthropist made the switch to oil in 1993 and the rest is history. From the images we were able to dig up of Alakija, she is quite the fashion plate (read: eccentric dresser). But when you've out-earned the Queen of All Media by approximately $500 million, you're allowed to wear whatever you want.

Ventures Africa reports that Alakija owns at least $100 million in real estate and a $46 million private jet. And can you imagine what her closets look like? Move over, Imelda Marcossource

Lagos, Nigeria
Editor's note: Nigerian has emerged as Africa's biggest economy replacing South Africa. Nigeria has a growing middle-class, yet 70% of her population still live in poverty.

This extreme wealth of Dangote and Folorunsho (and other Nigerian billionaires) comes with great responsibility. Let's hope these billionaires continue reinvesting in Nigeria's economic security and future.

If this can be competently accomplished, Nigeria would be propelled into becoming an emerging world power.

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