Top 10 Richest Men In Ondo State And Their Net Worth
Ondo State, located in the southwest region of Nigeria, is known for its intellectual elite, rich natural resources, and cultural depth. Over the years, it has produced several individuals who have made outstanding contributions in business, politics, oil and gas, media, and entertainment. These personalities not only command influence in their respective sectors but have also accumulated significant wealth that places them among the wealthiest people in Nigeria.
This blog post highlights the top 10 richest men in Ondo State as of 2025, exploring their sources of wealth, industries, and the impact they have made both within and outside the state.
1. Chief Michael Ade-Ojo – Estimated Net Worth: $2 Billion
Chief Michael Ade-Ojo is arguably the wealthiest man from Ondo State. He hails from Ilara-Mokin and is the founder of Elizade Group of Companies. His major business, Elizade Motors, is a dominant force in the Nigerian automobile industry and a leading distributor of Toyota vehicles.
Ade-Ojo is not just a businessman; he is an education enthusiast. He founded Elizade University in Ondo State, which has become one of Nigeria’s fast-rising private universities. His business interests span vehicle distribution, education, real estate, and manufacturing. His ability to scale a vehicle dealership into a multi-billion naira empire is a testament to his visionary entrepreneurship.
2. Jimoh Ibrahim – Estimated Net Worth: $1.1 Billion
Jimoh Ibrahim is a prominent Nigerian businessman, lawyer, and politician from Igbotako, Ondo State. He is the founder of Global Fleet Group, a diversified business empire with interests in oil and gas, banking, insurance, aviation, hospitality, publishing, and real estate.
Jimoh Ibrahim is known for his aggressive investment strategies and bold acquisitions. He also ventured into politics and currently serves as the senator representing Ondo South Senatorial District. His resilience in the face of business setbacks, combined with his legal and academic background, has helped him remain one of the state’s wealthiest individuals.
3. Oba Fredrick Obateru Akinruntan – Estimated Net Worth: $500 Million
Oba Akinruntan, the Olugbo of Ugbo Kingdom in Ilaje, is a traditional ruler with a business empire. He founded Obat Oil, one of the largest privately held oil companies in Nigeria. Known for his taste for luxury, Oba Akinruntan made headlines when he purchased a Bentley that matched that of Queen Elizabeth II.
Beyond his lavish lifestyle, he is also a shrewd businessman who has successfully run his oil empire for decades. In 2014, Forbes recognized him as one of Africa’s richest kings. His business interests and royal influence make him a prominent figure in Ondo State and Nigeria at large.
4. Mo Abudu – Estimated Net Worth: $100 Million
Mosunmola Abudu, popularly known as Mo Abudu, is one of Africa’s most powerful media personalities. She was born to Ondo parents and is the CEO of EbonyLife Media. She began her career in HR and later transitioned into media, where she launched EbonyLife TV — the first pan-African TV channel aimed at telling African stories.
Mo Abudu has produced multiple successful Nollywood movies, some of which have received international acclaim. She has also secured global partnerships with major platforms such as Netflix. Her influence in entertainment and media has earned her numerous awards and made her one of the wealthiest people from Ondo State.
5. Olusegun Mimiko – Estimated Net Worth: $60 Million
Dr. Olusegun Mimiko is a well-respected Nigerian politician and medical doctor. He served as the Governor of Ondo State between 2009 and 2017. Prior to that, he was Minister of Housing and Urban Development and Commissioner for Health in Ondo State.
During his tenure as governor, Mimiko focused on urban renewal, education, and healthcare. His 'Abiye' safe motherhood initiative won global recognition. He is also involved in private business and consultancy, which have contributed to his financial success over the years.
6. Omoyele Sowore – Estimated Net Worth: $20 Million
Omoyele Sowore is a human rights activist, journalist, and founder of Sahara Reporters — a groundbreaking online news platform known for its investigative journalism. Sowore, born in Ese-Odo, Ondo State, has been a constant voice for democracy and social justice in Nigeria.
Although primarily known for his activism and journalism, Sahara Reporters has attracted significant funding and influence globally, boosting Sowore’s financial worth. His foray into politics, including running for Nigeria’s presidency, has made him one of Ondo’s most recognized modern figures.
7. Akpororo (Bowoto Jephthah Oluwatiseyifumi Tanimola) – Estimated Net Worth: $9 Million
Akpororo is a popular Nigerian comedian, gospel artist, and actor. Born in Warri but originally from Ilaje in Ondo State, he gained national attention through comedy competitions and quickly became a household name.
His unique style, blending comedy with religious themes, resonates with many Nigerians. He has signed endorsement deals with telecom giants and has performed internationally. His success in the entertainment industry has significantly increased his net worth, placing him among the richest entertainers from Ondo State.
8. Wale (Olubowale Victor Akintimehin) – Estimated Net Worth: $9 Million
Wale is a Grammy-nominated American rapper with roots in Ondo State. Though born in Washington D.C., USA, Wale proudly identifies with his Nigerian heritage. He broke into the music scene in the mid-2000s and has since released multiple chart-topping albums.
He has collaborated with global artists such as Lady Gaga, J. Cole, and Meek Mill. Wale’s success in the music industry and lucrative brand endorsements have significantly increased his wealth, making him one of the wealthiest people of Ondo descent in the diaspora.
9. Taiwo Afolabi – Net Worth: Undisclosed
Taiwo Afolabi is a lawyer and billionaire businessman. He is the founder and CEO of SIFAX Group, a multinational corporation with business interests in maritime, aviation, oil and gas, and hospitality sectors. He was born to Ondo State parents and is considered one of Nigeria’s top business leaders.
Although his exact net worth is not publicly known, Afolabi’s holdings in ports and logistics services are substantial. His influence in West Africa’s logistics sector cements his place among the wealthiest Ondo-born businessmen.
10. Dr. Tola Awosika – Net Worth: Undisclosed
Dr. Tola Awosika is a rising entrepreneur and philanthropist with roots in Ondo State. He is the founder of 355 Group, a company that operates in real estate, hospitality, oil and gas, and marine services. He also runs the Tola Awosika Foundation, which supports youth and healthcare initiatives.
Despite being relatively young compared to others on this list, Awosika has demonstrated impressive business acumen. His wealth and impact continue to grow, making him one of the most influential young entrepreneurs in Ondo State today.
Final Thoughts
The wealth of these individuals is a reflection of the diversity and potential within Ondo State. From traditional leadership and political power to innovation in media, oil, logistics, and entertainment, these men have not only amassed fortunes but have also used their platforms to impact lives, empower communities, and inspire future generations.
Their stories serve as powerful reminders that success is achievable through vision, resilience, and dedication — qualities that many Ondo indigenes continue to embody across Nigeria and beyond.
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