Ondo State Billionaires: 10 Richest Men In Ondo State

Hey there, future billionaires and curious minds! Today, we’re diving deep into the money world of Ondo State—yes, the Sunshine State that gave us Idanre Hills, quality cocoa, bitumen that’s still chilling underground, and, oh yes—some seriously wealthy humans. We're not talking about pocket change rich here. We’re talking old-money-meets-new-money, traditional crowns shaking hands with boardroom ties, jets and Rolls-Royces type of wealth.

So, if you’ve ever asked yourself, “Who are the big boys of Ondo, and what exactly do they do to afford all these millions (and billions)?”—well, tighten your seatbelt, get your snacks ready, and let’s take a drive through the luxury lanes of Ondo’s richest men. Because when Ondo State flexes, even Lagos nods in respect.

Breaking It Down: Fast Facts Table

1. Dr. Jimoh Ibrahim – The Billionaire With Too Many Hats to Count

Net Worth: ~$1 Billion
Industries: Oil & Gas, Insurance, Banking, Real Estate, Politics, and basically every sector you can name.

Let’s start with the man who might need a separate CV just to list all the industries he plays in. Dr. Jimoh Ibrahim isn’t just rich; the man is wealth personified. He’s the founder of Global Fleet Group, a conglomerate with branches in petroleum marketing, insurance, hospitality, airlines, publishing—you name it, he's tried it (and probably succeeded).

A Harvard-trained lawyer and business guru, Jimoh doesn't just do business; he multiplies it. And just to spice things up, he’s also a senator representing Ondo South. That’s right—while some people manage one WhatsApp group, this man manages multiple companies and sits in Nigeria’s upper legislative chamber.

Oh, and controversies? Yes, he’s had his fair share—frozen accounts here, AMCON drama there. But like a true cat with nine business lives, Jimoh bounces back every time. If resilience was a person, it would probably wear his face.

2. Oba Fredrick Obateru Akinruntan – The Royalty With a Billionaire Vibe

Net Worth: ~$300 Million
Industries: Oil & Gas, Real Estate, Traditional Royalty

Who says royalty and capitalism don’t mix? Meet Oba Akinruntan, the Olugbo of Ugbo Kingdom and the king who can literally buy any car he wants—because he already has a Rolls-Royce Phantom that matches the Queen of England’s. No jokes.

Oba Akinruntan is the founder of Obat Oil, one of Nigeria’s largest privately-owned oil companies. With over 50 filling stations and a mega storage facility, he practically owns a good chunk of Nigeria’s fuel supply pipeline.

He isn’t just a king; he’s a boardroom kingpin. Forbes once listed him as the richest king in Nigeria and the second-richest in Africa. Who said tradition can’t chill in a Bentley?

3. Chief Oluwole Akinwande – The Silent Agricultural Giant

Net Worth: ~$400 Million
Industry: Agriculture and Agro-processing

Now, this is the man who makes money in silence—Chief Oluwole Akinwande doesn’t trend on Twitter, but he’s trending in rural development and food security. With massive plantations producing cassava, rubber, and palm oil, Chief Akinwande is feeding both the nation and his bank account.

He’s also into agro-processing, with mills and fertilizer plants that make sure farmers don’t just plant—they profit. He supports youth in agriculture and promotes sustainable farming. A king in the kingdom of green, no doubt.

4. Alhaji Afolabi Olowookere – The Ocean-Minded Billionaire

Net Worth: ~$350 Million
Industries: Oil Services, Marine Logistics

If you’re from the riverine parts of Ondo, you’ve probably heard this name float around (pun fully intended). Alhaji Olowookere is king of the sea—he made his money by building a marine logistics empire servicing offshore oil platforms.

This man’s company moves equipment, personnel, and dreams across the water. He’s also into philanthropy, sponsoring coastal protection programs and offering scholarships to kids in Ilaje and beyond. Rich and responsible—what’s not to like?

5. Dr. Tunde Afolabi – The Industrialist with a Green Vision

Net Worth: ~$300 Million
Industries: Manufacturing, Renewable Energy

Dr. Tunde Afolabi is what happens when brains meet business. This man has created jobs, powered factories, and even taken steps into renewable energy with biogas plants.

He’s the kind of billionaire who doesn’t just build factories but also builds tech hubs. Ever heard of the Ondo Tech-Innovation Hub? Yep, he’s behind that too. If you’re a young techie in Ondo dreaming of the next Flutterwave or Paystack, Dr. Afolabi is probably already cheering for you from a VIP lounge.

6. Chief Akin Olugbade – Ondo’s Hospitality Hero

Net Worth: ~$250 Million
Industries: Real Estate, Hospitality

If you’ve ever had a fancy event in Akure, chances are it happened in one of Chief Olugbade’s venues. This man turned hospitality into an art. With several hotels and event centers across Ondo and Lagos, he’s mastered the business of comfort and luxury.

He’s also a huge supporter of cultural festivals and youth training in hospitality management. A man of style and substance—and serious money.

7. Mr. Olumide Olatunji – The Tech-Savvy Disruptor

Net Worth: ~$220 Million
Industries: Fintech, Telecom

If there’s one person bridging the tech divide in Ondo, it’s Olumide Olatunji. He co-founded OlaTech, a fintech startup that’s now making waves in rural banking and mobile payments.

Beyond that, he’s tackling the digital gap head-on with broadband projects across the state. His “Code Ondo” initiative has trained over 5,000 developers. That’s not just impact—that’s building the next generation of tech bosses.

8. Alhaji Ademola Akinola – The Transport Tycoon

Net Worth: ~$200 Million
Industries: Logistics, Infrastructure

This is the man who keeps goods and people moving. Alhaji Ademola Akinola built his fortune through a transportation empire that connects Ondo to the rest of Nigeria. And guess what? He’s now co-investing in the Ilaje Deep Sea Port—talk about long-term vision.

From hauling cement to running bus lines, Alhaji Akinola is the engine of movement. He also gives back with scholarships and donations for road repairs. A true mover—in every sense.

9. Alhaji Yusuf Akintoye – The Master Builder

Net Worth: ~$150 Million
Industry: Construction, Urban Planning

Alhaji Yusuf Akintoye builds dreams—literally. As CEO of Akintoye BuildTech, he’s behind some of the finest estates, hospitals, and government projects in Ondo. His Umoja Estates are luxury living at its best, and he’s helping to modernize the state one block at a time.

If you’ve ever admired a newly built road or a school with solar panels in Ondo, Akintoye might just be the brain (and wallet) behind it.

10. Taiwo Olayinka Afolabi – The Logistician Extraordinaire

Net Worth: ~$100 Million
Industries: Maritime, Aviation, Hospitality

Though originally from Ogun, Taiwo Afolabi is deeply tied to Ondo through his businesses and influence. As founder of SIFAX Group, he runs operations in ports, haulage, airlines, and hospitality.

Think of him as the logistics king of Nigeria—your container probably passed through his docks. His company’s presence in Ondo is creating jobs and connecting the state to global trade networks.

So, What’s the Secret Recipe?

All these men share a few things in common:

• They diversify. No one here is stuck in one lane. They do oil and gas plus education. Agriculture plus tech. That’s how you stay wealthy even when one industry shakes.

• They give back. Almost every one of these men has a scholarship fund, a training program, or some form of social project.

• They think long-term. Whether it’s launching a port or building a tech hub, these guys aren’t in it for quick money—they’re building legacies.

• They understand the land. They know Ondo’s potential and have invested in local resources—bitumen, agriculture, education, and people.

Final Thoughts: What Can We Learn?

These men didn’t become wealthy overnight. Some of them came from royalty, yes. But others built from scratch, failing, starting again, and investing smartly. They remind us that greatness isn’t just about how much you earn—but how much impact you create.

Ondo State is more than cocoa and bitumen; it’s a cradle for visionaries. If you’re young and dreaming big, let these stories fuel you. You don’t have to wear a crown to be a king in your own lane.

So, aspiring billionaire—who’s your favorite from the list? Which industry are you eyeing? Let’s talk in the comments!