Mike Adenuga, a telecom billionaire and oil baron in Nigeria, has regained his position as the country’s second-richest man with a net worth of $7.4 billion, surpassing Abdul Samad Rabiu who is now in third place.
Gatekeepers News reports that Forbes attributed this increase in wealth to its recent reevaluation of Adenuga’s mobile phone network, Globacom, which he founded and is currently the third-largest telecom service provider in Nigeria.
Adenuga had previously lost his position as the second-richest person due to a significant decrease in his net worth, but Forbes’ revised valuation has placed him back in the second-richest position in Nigeria, trailing only behind Aliko Dangote.
Adenuga’s net worth took a significant dip in June 2023, dropping to $3.6 billion from the initial $6.3 billion recorded in January.
The net worth of the Chairman of Conoil and founder of Globacom has fluctuated over the years, reaching $7.3 billion in 2022 and peaking at an impressive $10 billion in 2015.
