Tony Elumelu Biography & Net Worth: Cars, Houses & Facts

You must have been hearing about Tony Elumelu and his foundation and are curious to know about him, the full biography of Tony Elumelu and his net worth coupled with other facts will be revealed in this article.

Who Is Tony Elumelu?

Tony Elumelu is a Nigerian economist, entrepreneur, and also philanthropist who has through his generous and influential lifestyle been able to help the less privileged and also those that need help to proliferate through their skill or entrepreneurial ability to have a successful and easy career start.

Before we dive into the full biography and net worth of Tony Elumelu, we will like you to take a quick glance at Tony Elumelu’s profile.

Tony Elumelu Profile

Full Name:Anthony Onyemaechi Elumelu
Date of Birth:22nd of March 1963
Place of Birth:Jos, Plateau State
State of Origin:Delta State
Married to:Dr. Awele Vivien Elumelu
Children:7 children
Education:Ambrose Alli University, University of Lagos, Delta State University & Benue State University
Occupation:Economist, Banker & Investor
Net worth:$1.4 billion

You will definitely be interested in reading more about this great economist and investor, let us take you through the full biography of Tony Elumelu, his net worth, early life, family, cars, investments, and other facts about him.

Early Life

Anthony Onyemaechi Elumelu popularly known as Tony Elumelu was born on the 22nd of March 1963 in Plateau State capital city Jos.

Tony Elumelu Picture

He is originally from Delta state and a native of Onicha-Ukwu in Aniocha North Local Government Area of Delta State.

Tony Elumelu’s parents are entrepreneurs and this has been instilled in the lives of their children, his fathers’ name is Mr. Dominic Elumelu while his mother a restaurant owner is Mrs. Suzanne Elumelu.

He was raised alongside his 4 siblings by his parents and he has a known brother named Hon Ndudi Elumelu who was once a former member of the Nigerian Federal House of Representatives, Ndudi Elumelu is actively into politics.


Tony Elumelu is a well-educated man, he started his education at the elementary level and secondary school education. He proceeded to the tertiary institution where he had two degrees in economics from two major Nigerian universities a bachelor’s degree from Ambrose Alli University (formerly known as Bendel State University) and got his master’s degree at the Lagos State University.

After being done with his master’s degree he proceeded to the United States to strengthen his CV, he attended the Harvard Business School, International Institute of Management Development (IMD) in Lausanne Switzerland, and finally the Singapore Institute of Management (SIM).

He had a strong educational foundation which helps to quickly make him achieve his goals.

Tony Elumelu Career

Tony Elumelu’s career started in 1985 when he secured a banking job during his National Youth Service Corps at Union Bank Plc in Nigeria. His journey to success began when he led the largest merger in the banking sector of Sub-sahara Africa to acquire the popular and one of Africa’s biggest banks UBA (United Bank of Africa).

He was able to achieve a great feat after helping the bank grow in space for a few years and boasting over 7 million bank customers all through 19 African countries and still growing.

In 2010, Tony Elumelu retired from UBA and established his own company Heir Holdings whose main aim is to invest in financial services, real estate, the healthcare sector, agricultural businesses, hospitality, energy, and many more.

Heir Holdings has a huge percentage of interest from Transnational Corporation of Nigeria (Transcorp) and the company was booming in wealth.

The Tony Elumelu Foundation was founded to cater to those that need a financial lift in their endeavors, encouraging entrepreneurship in all sectors in Nigeria and other African countries

Due to his previous success and his profession as a serial investor, he was appointed as an advisor to USAID’s Private Capital Group for Africa (PCGA) Partners Forum.

He became the vice-chairman of the National Competitiveness Council of Nigeria (NCCN), and he heads the Nigerian President’s Agricultural Transformation Implementation Council (ATIC).

As if that wasn’t enough he also serves as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and chairs the 26th World Economic Forum on Africa in Kigali, Rwanda in 2016.

He is currently one of the top 100 most influential people in the world and has been deeply into helping fresh entrepreneurs to grow strong with his grants.

Tony Elumelu Wife (Family)

Tony Elumelu Family Picture

In 1993 Tony Elumelu got married to his wife Dr. Awele Vivien Elumelu who is a medical doctor. Their union was blessed with 7 children of which 5 are girls and two boys who are twins.

Tony Elumelu Publication

As a business and investment guru, Tony Elumelu must be filled with strategies and business ideas that can be useful for aspiring businessmen, businesswomen, and entrepreneurs at large.

This leads the businessman to pen down the philosophy of life and also the development of Africa economically for several publications around the world some of them are “The Economist”, “The Wall Street Journal” and “The Financial Times”.

He also served as an inspiration for the publication of Bili A. Odum with the title “How To Excel At Work”.

We can’t ignore “The Power of Vision” which serves as a testimonial showing the life and achievement of the investor during his retirement at UBA.

Net Worth

Tony Elumelu’s current net worth is estimated to be over $1.4 billion, his income is attributed to his years of hard work and risk-taking, serial investments, and many more.


Tony Elumelu’s biography and net worth wouldn’t have been complete without mentioning his rewards for striving and also helping individuals to achieve greatness. Below are his awards:

  • Member of the Order of the Federal Republic – 2003
  • National Honour – 2006
  • African Business leader of the year by Africa Investor magazine – 2008
  • African Banker of the year by African Banker magazine – 2008
  • National Honour of Commander of the order of Niger (CON) – 2012
  • Africa’s 20 most powerful people by Forbes magazine – 2012
  • Honorary Doctorate of Science Degree From Benue State University – 2012
  • Honorary Doctorate of Business Administration from UNN – 2012
  • 100 Most Influential Africans in Business by New African Magazine – 2012
  • Leadership Award in Business and Philanthropy from the AAI – 2013
  • ESI Most Influential Figures in African Power – 2015
  • CGECI Academy’s Lifetime Achievement Award – 2016
  • 100 Most Influential People in the World by Time – 2020

Tony Elumelu’s Cars

Tony Elumelus’s garage is filled with exotic car collections, below are some:

  1. Range Rover – Worth ₦30 million
  2. Mercedes Benz S-Class – Worth ₦42 million
Tony Elumelus Cars

We also got to know that Tony Elumelu owns a private jet that is used for his international business tours.

Tony Elumelu Houses

We believe Tony Elumelu owns a lot of houses and estates but his house locations weren’t made available to the public. He currently lives in Lagos State with his family.

He owns a lot of estates in Nigeria and even abroad, remember we mentioned that he is also a real estate investor.

Who is Tony Elumelu?

Tony Elumelu is a Nigerian economist, entrepreneur and also philanthropist who has through his generous and influential lifestyle been able to help the less privileged and also those that need 

What is Tony Elumelu’s current net worth?

Tony Elumelu’s current net worth is estimated to be over $1.4 billion, his income is attributed to his years of hard work and risk-taking, serial investments, and many more.

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