African Achievement Magazine

Folorunsho Alakija is World's Richest Black Woman

Folorunsho Alakija is World's Richest Black Woman

In a Forbes rating, Nigerian business tycoon, Folorunsho Alakija became the richest black woman in the world, unseating long title holder, American TV personality Oprah Winfrey for the position. She is also rated the 96th most powerful woman in the world. (continues below... )

According to the report, The oil and fashion business woman distinguished herself with a net worth at least $3.3 billion, compared to Oprah's $2.9bn.

62-year-old Folorunsho Alakija started her career as a secretary at the erstwhile Merchant Bank of Nigeria, but moved to England in the early 1980s to study fashion design. After which she returned to Nigeria and set up a high-end label called Supreme Stitches, a label that went on to clothe the who - is - whos of Nigeria.

Although she amassed some wealth from the fashion label, a significant proportion of Alakija’s fortune comes from an oil-exploration license granted to her company, Famfa Oil Ltd. The 617,000-acre oil block The will later become highly lucrative and pull in a lot of money for the Alakijas who had 60% stake in the oil block.

Her story is that of moving from rags to riches by hard work, determination, focus and a stroke of luck. It is an achievement to be proud of for the beautiful and fashionable Folorunsho Alakija, as it is not easy to be the richest black woman in the world and definitely harder to be one from Africa.

According to Ventures Africa, her assets include a real estate portfolio worth over $100 million and a $46 million private jet.

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