Second richest Nigerian man's fortune: Mike Adenuga net worth, cars, house and private jet


Posted by: Oluwatobi Ogunrinde

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Mike Adenuga's net worth of $7.7 billion or ₦2.72 trillion gives him everything from mansions to cars. All are just top-luxury! Check out!


Mike Aenuga is a business mogul, philanthropist, and industrialist

Who is Mike Adenuga?

The name “Mike Adenuga” is almost a household name - if you know Globacom, then you know Adenuga. Michael Adeniyi Agbolade Ishola Adenuga Jr (GCON) is an entrepreneur, and also the second richest man in Africa. After MTN, Globacom is Nigeria's second-largest telecom operator, also operating in other countries like Ghana,  Ivory Coast, and the Republic of Benin.  Mike Adenuga's net worth has made him an economic force in Africa's biggest economy, Nigeria.

Mike Adenuga biography

After acquiring his basic education in Nigeria, Adenuga proceeded to New York, where he attended Northwestern Oklahoma State University and Pace University, obtaining higher degrees in Business Administration. In the late 1990s, he recorded some success in the oil industry, and from 2003 to date, Globacom has become a major competitor of the MTN Group in West Africa.

In August 2007, Adenuga was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA). Also, in 2012, he was made Grand Commander of the Order of the Niger by the Nigerian government. Indigenously, he holds a Yoruba tribal chieftaincy as the Otunba Apesin of the Ijebu clan. I guess this also qualifies him as one of the Top 10 richest kings in Nigeria, although technically, he is not a monarch.

Plus, the tycoon has extensive interests in Oil & Gas, Telecoms, Banking, and many other areas of human activities.


Goodluck Jonathan, presenting the GCON Merit Award to Chief Mike Adenuga at the 2012 National Honours Award

Mike Adenuga's Date of birth

Mike Adenuga was born on the 29th of April, 1953. This makes Nigeria's second richest man just 67 years old.

Mike Adenuga family

The billionaire has two wives, Adefolake Emilia Adenuga and Titi Joyce Adenuga, with Mike Adenuga's children numbering 7 in total. His daughters are Adetutu, Abimbola, Folashade, Eniola, and Bella. Mike Adenuga's sons, Prince Micheal, and his brother, Tunde, are both very proud sons.


Mike Adenuga and his family with the Ex-President Mahama of Ghana

Mike Adenuga's net worth 2020

Mike Adenuga Forbes' rating is somewhat controversial. According to his employees, the global net worth authority is currently under-estimating the Nigerian billionaire. Be that as it may, as the chairman of Conoil and owner of Globacom, Mike Adenuga’s net worth has been estimated by Forbes to be $5.9 billion (~ ₦2.3 trillion), as at May 20, 2020, making him the second of the top 10 richest men in Nigeria! Adenuga is often mentioned in the same breath as Africa's richest man, Aliko Dangote.

Mike Adenuga's house

Of course, this multi-billionaire has houses and mansions to his name. The most spectacular of these is the ₦8 billion spread in Banana Island, Lagos. Mike Adenuga's mansion is the entrepreneur's main residence. "Residence" is also a bit misleading as a term to describe this domicile as it is, in actuality, a collection of nine luxury duplexes sitting on three hectares of land. This home has been called the most expensive private residence in Nigeria.


This is the Adenuga citadel, located on 3 massive hectares


Adenuga's main home might well be Nigeria's most expensive residence


One of his houses is located on Lagos Island, Banana Island precisely and it's worth ₦8 billion

Among other facilities, the homestead consists of a Church, Mosque, helipad, car park, indoor swimming pool, and a private pier for the billionaire's yacht and boats. Since this house is a recent acquisition, he has other homes that accommodated him and his family before the edifice was completed.  

Want to know something a little strange about Mike Adenuga? He also owns a Dysney vault (burial tomb) in Ikoyi, which is worth a whopping 200 million! 

See this video about Mike Adenuga's palatial home:

MIKE ADENUGA new house in banana island

Mike Adenuga's car collection

With this magnitude of wealth, Mike Adenuga definitely has a swell garage.


Mike Adenuga owns a flashy car garage with exotic models

1. Armored Bentley Mulsanne / Starting Price - ₦110.5 million

In partnership with The Armored Group, LLC, Bentley designed a comfortable ride that offers three chassis models - the Mulsanne, the Mulsanne Extended Wheelbase, and the Mulsanne Speed. This ride is just for high-profile individuals, celebrities, diplomats, or just an individual who likes to live a luxurious life.

  • A sedan with 4-5 seats
  • 2 trims are available (with 3 configurations)
  • 505-hp, 6.8-liter V-8 
  • Airline-style reclining seat
  • Top-notch infotainment system
  • State-of-the-art cabin


Rear-seat passengers get to enjoy an extra 250 mm of legroom

2. Mercedes-Maybach S-Class / Starting Price - ₦72.1 million

If you're looking for what luxury feels like, this Maybach is just perfect! To enjoy this sedan in all its glory, make sure you relax in the rear seat, where you can enjoy the luxury massaging leather recliners and listen to your favorite jam with the Burmester audio system.

  • Four-door sedan
  • S560 - 463-hp, 4.0-liter V-8
  • S650 - 621-hp, 6.0-liter V-12
  • Accommodates 4-5 passengers 
  • Massaging front seats are available
  • There's a fragrance system in the cabin


It offers several driver-assist technologies like a 360-degree camera system and blind-spot monitoring

3. Mercedes Benz AMG C63/ Starting Price - ₦24.3 million

It's simply a four-door compact luxury car, that's available as a coupe, sedan, and convertible.

  • 469-hp, 4.0-liter V-8 (higher trim features 503-hp, 4.0-liter V-8)
  • 2 trim levels are available (with 6 configurations)
  • Accommodates 4-5 passengers
  • There's an optional offer of AMG Performance seats - they can be ventilated
  • Features SiriusXM satellite radio that comes with a six-month trial
  • Also offers Android Auto, Apple CarPlay, Bluetooth audio streaming


Just like the Mercedes-Maybach S-class, you can enjoy the Burmester surround-sound audio system as a standard feature

4. Rolls Royce Phantom - Mike Adenuga's most expensive car / Starting Price - ₦151.6 million

If you want to show the world how fat your account is, get a Rolls Royce Phantom! This sedan is a high-end luxury and you're not even permitted to drive yourself, just sit in the back end enjoy the tranquility this marque has to offer.

  • Four-door sedan
  • 563-hp, 6.8-liter V-12 
  • 1 trim level is available  (with 2 configurations)
  • Accommodates 5 passengers 
  • Power-adjustable massage seats 
  • Lane-departure warning and forward collision come as standard features
  • The infotainment system comes with remote controls


Great leather, great wood, and authentic metal accents fully adorn the Phantom cabin

Mike Adenuga's cars
 N/O Car  Starting Price
 1  Armored Bentley Mulsanne ₦110.5 million
 2  Mercedes-Maybach S-Class ₦72.1 million
 3  Mercedes Benz AMG C63 ₦24.3 million
 4  Rolls Royce Phantom ₦151.6 million

Mike Adenuga private jet

What about Mike Adenuga's private jet? Just to digress a bit, the billionaire also hops on one of his private jets for his global junkets. They include a Bombardier Global 5000 (worth ₦16.6 billion), and a Dassault Falcon 7x. This is worth ₦19.6 billion.  


The billionaire entrepreneur also owns 2 formidable private jets for global trips on business and pleasure


Mike Adenuga's net worth is a ready subject for discussion any day in Nigeria, and Mike Adenuga pictures are instant attention grabbers on any news magazine. Hopefully, this article has provided a glimpse behind and beyond the money, showing the true person of the brilliant businessman who owns Globacom and is one of the top 10 richest men in Africa.

>>> Read more about richest people in Celebrity cars corner on

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Oluwatobi Ogunrinde

Oluwatobi Ogunrinde

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A passionate writer looking to educate people with every piece of her work. Oluwatobi enjoys writing about exotic cars, productive tech traits, workplace culture, and basic data science values. She holds a Master's degree in Diplomacy and Strategic Studies from University of Lagos. When she's not expressing herself through a new article, she's reading about international politics.

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