Modupe Alakija: Biography, Net Worth, And Achievements Of Folorunsho Alakija's Husband

When people hear the name Folorunsho Alakija, their minds quickly go to oil wells, massive wealth, philanthropy, and elegant fashion. And rightly so. She's one of Africa’s most powerful women and once held the crown as the richest black woman in the world. But here’s what most people don’t talk about often enough — the man behind the powerhouse. Yes, I'm talking about Modupe Alakija, her husband of nearly five decades.

If you've ever wondered, "Who is Folorunsho Alakija’s husband?" or "What’s his role in the Alakija empire?" — you’re in the right place. Let's dive into the fascinating life of the man who has not only stood beside a billionaire but helped build and preserve the foundation of one of Nigeria’s most respected families.

Who is Modupe Alakija?

Now, before we go deep, let’s get one thing clear — Modupe Alakija is not just “Mr. Folorunsho Alakija.” The man has his own identity, accomplishments, and legacy. Even though he’s not loud or media-crazy like many public figures, he has a powerful presence in Nigeria’s elite circles.

Modupe is a lawyer, a businessman, a husband, a father, and a strategic thinker. He is from the Alakija family—a lineage that has been historically influential in Nigeria, tracing back to Sir Adeyemo Alakija, a prominent figure in colonial Lagos.

Born into privilege, but also responsibility, Modupe was groomed in a system that emphasized education, legacy, and influence. So when he married Folorunsho in 1976, it wasn’t just a romantic union — it was a meeting of minds and vision.

Marriage to Folorunsho Alakija — A Power Couple Story

Modupe and Folorunsho got married in November 1976, and their marriage has been a testimony to resilience, patience, faith, and teamwork. In a world where power couples often crash under pressure, these two built an empire — together.

Folorunsho once described her husband as her rock, her pillar, and her biggest supporter. She often said that behind her success was a man who believed in her dreams more than she did at times.

Let’s not forget: before the billions came, Modupe supported her through her fashion career when she launched Supreme Stitches, which eventually became Rose of Sharon House of Fashion. Then, when the oil opportunity came knocking, it was both of them who sat at the table to take the risk and run with the vision.

They have four sons together, all of whom are doing well and have been groomed into the family business and its values.

Famfa Oil – The Crown Jewel

We can't talk about Modupe without talking about Famfa Oil.

Famfa Oil Limited is the private oil company that made the Alakijas crazy rich. In the early 1990s, Folorunsho applied for and received the Oil Prospecting License (OPL) 216. At that time, not many Nigerians — especially women — were playing in the oil sector. It was like David walking into Goliath’s territory.

But let’s be real — this wasn’t just a one-woman show. Modupe was right there behind the scenes. As a lawyer and strategist, he helped negotiate, structure, and build Famfa Oil into the empire it is today. When the government tried to snatch a huge chunk of their oil block, Modupe was instrumental in the legal battle that eventually secured their rights and positioned the family for wealth beyond imagination.

Famfa’s Agbami oilfield, operated in partnership with Chevron and Petrobras, is one of Nigeria’s most lucrative deepwater oil fields. It brings in millions of dollars monthly in revenue.

And guess what? Modupe Alakija is often listed as Chairman or co-owner, and he still plays a major role in overseeing the company’s operations.

Business Interests Beyond Oil

The oil money didn’t just sit in bank accounts. The Alakijas diversified — and Modupe was part of the planning.

They own prime real estate in Ikoyi, one of Lagos’s most expensive areas. In fact, their residence in Ikoyi is often referred to as one of the most opulent homes in Africa. We're talking luxury swimming pools, bulletproof architecture, massive compound — the kind of place that looks like a mix between a royal palace and a fortress.

They also have assets abroad, including properties in the UK, where some of their children studied.

Apart from oil and real estate, the Alakijas also ventured into:

• Digital printing and imagery (Digital Reality Print Ltd)

• Fashion (Rose of Sharon House of Fashion)

• Philanthropy (Rose of Sharon Foundation)

While Folorunsho is the face of most of these initiatives, Modupe is often the one who sits in boardrooms, handles logistics, and provides the financial and legal backbone to keep everything running smoothly.

Net Worth – How Rich is Modupe Alakija?

Here’s the interesting thing: Modupe Alakija doesn’t flaunt his wealth. No social media show-off. No interviews. No unnecessary drama. But make no mistake, the man is very wealthy.

Now, since Folorunsho’s wealth is usually estimated at around $1.0–1.2 billion, and Famfa Oil is a family-run business, it’s safe to assume that Modupe owns a significant share of that fortune.

While no official figure has been assigned to him individually, conservative estimates suggest his personal net worth could easily be between $300 million and $600 million, or even more if you include joint assets.

He’s known to own luxury cars like:

• Rolls Royce Phantom

• Mercedes-Benz S-Class

• Bentley Bentayga

• Range Rover Autobiography

And like I mentioned earlier, the family home in Ikoyi is worth millions of dollars alone.

Private Life and Personality

One thing that makes Modupe truly admirable is his personality. Those close to him say he’s a calm, wise, and deeply spiritual man. While his wife has a louder public profile, he has remained humble and private — a trait that’s rare among the ultra-wealthy in Nigeria.

He’s a practicing Christian, and along with his wife, they often engage in faith-based community outreach and charity. The Rose of Sharon Foundation, though spearheaded by Folorunsho, is something Modupe supports passionately.

He believes in raising children with discipline, building generational wealth, and giving back to society.

Controversies? Well…

In 2024 and 2025, the internet almost broke when rumors started flying around that Modupe and Folorunsho were "no longer together." Reports hinted at a possible separation or even divorce. Some blogs claimed that Modupe had moved out of their Ikoyi mansion and that they were splitting family businesses.

But here’s the thing — nothing was confirmed officially. And until either of them addresses it publicly, we can only take those reports with a pinch of salt.

What we do know is that they’ve been together for over 40 years, raised four successful sons, and built one of Africa’s most respected empires. Whether they’re currently together or not doesn’t change the fact that Modupe was, and perhaps still is, a major part of the Alakija success story.

Final Thoughts – Why Modupe Alakija Deserves More Recognition

Too often, when we talk about power couples, we focus on the louder half — the one giving interviews and cutting ribbons. But the truth is, behind every public-facing billionaire is someone in the background making moves.

Modupe Alakija is that guy.

He represents a generation of Nigerian men who combine education, integrity, faith, and loyalty. He’s proof that you don’t have to scream for attention to build wealth. That you can stay in the shadows and still be a giant.

So the next time you mention Folorunsho Alakija, remember the quiet storm beside her — Modupe Alakija, the husband, the father, the lawyer, the co-founder, and the silent billionaire.