Nigeria’s second richest man Mike Adenuga has recorded a $200-million gain in his net worth since the start of the year, as his personal wealth rose above the $6.5-billion mark.
The Nigerian billionaire who founded Globacom, Nigeria’s third-largest telecom company, ranks among those African billionaires who have seen their wealth increase significantly this year.
His net worth at the beginning of this year was valued at $6.3 billion, with the majority of this wealth coming from his flagship company Globacom and his stakes in Nigerian petroleum marketing company Conoil and Julius Berger, a Nigerian construction company.
Research conducted by Billionaires.Africa revealed that his net worth since Jan. 1 has increased from $6.3 billion to $6.5 billion as of the time of writing, Oct. 22.
This translates to a $200-million net-worth gain for the billionaire and an average gain of $678,000 per day since the start of the year.
The recent increase in his net worth can be linked to the revaluation of his ownership interest in Globacom, and an increase in the market value of his stakes in Conoil and Julius Berger.
Aside from the wealth gain, the billionaire received $1.88 million in dividends this year from his stake in Conoil.
Recently, Adenuga’s telecom outfit signed a partnership deal with Eutelsat Communications to deliver its Eutelsat Konnect satellite.
The multiyear partnership will enable Globacom to extend its coverage beyond the reach of its terrestrial infrastructure by leveraging the satellite.
Eutelsat Konnect is a geostationary communications satellite operated by Eutelsat. It provides broadband Internet and communications coverage to Europe and Sub-Saharan Africa.
