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Home Culture and History Before Dangote: Nigeria’s richest men of the 60s, net worth, income source

Before Dangote: Nigeria’s richest men of the 60s, net worth, income source

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Nigeria once boasted of brilliant people who were incredibly wealthy, with some commanding billions of dollars.
Some of them allegedly made billions of dollars and pounds, and they established organizations that are still in existence today.

Before Dangote: Nigeria's richest men of the 60s, net worth, income source


The nation produced remarkable men, including Dantata, one of the ancestors of Aliko Dangote, the richest man in Africa, and Louis Ojukwu, who was rumored to have been Nigeria’s richest man at one point.

Before the rise of Dangote, the richest man in Africa, wealthy men and women have always existed in Nigeria. The quantity of wealthy men and women emerging from Nigeria is thought to have truly inspired the epitaph “giant of Africa.”

With a population of more than 200 million and a Gross Domestic Product (GDP) of $432 billion, Nigeria is the largest economy in Africa and a significant global oil producer.

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Only South Africa and Egypt had more millionaires than the nation, which was third in Africa overall.

Nigeria paraded a number of individuals and women with significant net worths and big finances, including Da Rocha, Ojukwu, and many others.

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The Punch claims that prior to independence, Nigerians lived in affluence.

Candido Da Rocha (1860 – 1959)

Before Dangote: Nigeria's richest men of the 60s, net worth, income source

Candido Da Rocha, a Brazilian native, was the first wealthy Nigerian in recorded history. He was a native of Esan in present-day Edo State. After inheriting $1 million from his father and grandfather, he became a millionaire at the age of 18 and a multimillionaire at the age of 22.

He carried on his father’s water-selling profession, which earned him the moniker “Casa d’Agua,” by going from house to house.

Alhassan Dantata ( 1877–1955 )

Before Dangote: Nigeria's richest men of the 60s, net worth, income source

Alhassan Dantata, a groundnut trader, is thought to have established the Dantata dynasty and was the ancestor of Dangote, the richest man in Africa.

Dantata began selling groundnuts in 1918 through the Royal Niger Company, a British company that would later become the United Africa Company.

Timothy Odutola (1902-1995)

Before Dangote: Nigeria's richest men of the 60s, net worth, income source

Obafemi Awolowo, a well-known politician in Nigeria, reportedly asked Timothy Odutola for a loan of roughly 1,400 pounds, which Awolowo repaid 12 years later and the two went on to form a political alliance.

According to NewWire, he ran multimillion dollar enterprises before 1960, including factories, a retail franchise, a cattle ranch, and a sawmill.

Sir Mobolaji Anthony-Banks (1907-1991)

Before Dangote: Nigeria's richest men of the 60s, net worth, income source

Mobolaji, a well-known businessman and philanthropist, previously served as president of the Lagos Stock Exchange council. He owned the rights to the Rootes Group’s automobiles and invested in Aero Contractors.

He was a former president of the Lagos Stock Exchange council and a businessman. Additionally, he had a small stake in Aero Contractors and the distribution rights for the Rootes Group’s automobiles.

Sir Louis Odumegwu-Ojukwu (1908-1966)

Before Dangote: Nigeria's richest men of the 60s, net worth, income source

The first billionaire in Nigeria was Louis Odumegwu Ojukwu, who also founded the Nigerian Stock Exchange.

Ikemba Nnewi’s founder, Biafra warlord Dim Chukwuemeka Odumegwu-Ojukwu, said that he acquired his money through the sale of dried fish, clothing, cement, and transportation.

According to reports, Ojukwu made money via importing dried fish, trading in cement, textiles, and transportation.

Others are:

Shafi Edu (1911–2002)
Sanusi Dantata (1919–1997)
Emmanuel Akwiwu (1924-2011)
Ade Tuyo
Talabi Braithwaite (1928–2011)

The top 5 Africans with the highest net worths in June

According to Insidegistblog.com, Africa is home to a swarm of obscenely wealthy people with enormous net worth who work in a variety of industries, including manufacturing, retail, and even the grocery industry.

The 500 richest persons in the world who are included in the new Bloomberg’s Billionaires index for 2021 include about five Africans.

Aliko Dangote, the president of the Dangote Group, is reportedly still the richest person in Africa for the 11th year in a row with a net worth of $20.5 billion, up from $20.3 billion in May. On the list of billionaires, he is listed as number 64.

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