Folorunsho Alakija Net Worth, House, Sons , Age

Published Date   24th Aug. 2017, 21:47 pm
Folorunsho Alakija Net Worth, House, Sons , Age
Quick Info
Birth Name: Folorunsho Alakija
Nationality: Nigerian
Net Worth: US $ 1.56 billion

Folorunsho Alakija is a prominent Nigerian businesswoman who is known to be the group managing director of The Rose of Sharon Group and the executive vice-chairman of Famfa Oil Limited. Folorunsho Alakija net worth has made her recognized as one of the richest African women and also one of the richest black women in the world. Folorunsho Alakija is known best to be the business tycoon involved in the fashion, oil and printing industries. Folorunsho Alakija is one of the world’s most powerful women.


The distinguished and talented Nigerian businesswoman Folorunsho Alakija has gained wide recognition for being one of the wealthiest black women in the world. Folorunsho Alakija net worth is known to have been amassed from her work in Famfa Oil Limited as the executive vice chairman and in The Rose of Sharon Group as the group managing director. Folorunsho Alakija’s sons have been taking care of her huge business empire. Folorunsho Alakija twitter has details of her personal and professional life.

Early Life

Folorunsho Alakija Folorunsho was born in 195. She was born to the family of Chief L. A. Ogbara in Ikorodu, Lagos State and spent most of her childhood days there. She is of Nigerian nationality and black ethnicity.


Folorunsho Alakija went on to receive her four-year primary education at Dinorben School for Girls in Hafodunos Hall in Llangernyw, Wales after she moved to the United Kingdom. Folorunsho Alakija then went on to attend Muslim High School Sagamu Ogun State, Nigeria when she returned back to Nigeria. Folorunsho Alakija then again moved to London where she went on to attend Pitman’s Central College, London for her secretarial studies. She then joined American College, London and the Central School of Fashion where she honed her interest and talents at fashion.

Early Career

Folorunsho Alakija began her career initially by working t Sijuade Enterprises, Lagos, Nigeria as an executive secretary. She then went on to join First National Bank of Chicago and worked there for a few years before she went onto pursue her dream of becoming a fashion designer.

Rose of Sharon House of Fashion and Famfa Limited

Folorunsho Alakija went on to establishing a tailoring company called Supreme Stitches which went on to become highly successful in a few years and was known as Rose of Sharon House of Fashion. Folorunsho went on to become the national president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN). Folorunsho wanted to expand her empire away from just fashion. Thus in 1993 her company Famfa Limited was granted the license to explore for oil on a 617,000-acre block. Under her leadership, the company went on to enter into a joint venture agreement with Star Deep Water Petroleum Limited in 1996 to appoint the company as a technical adviser for the exploration of the license. Thus, 40 percent of the stake was transferred to Star Deep. Later on, 8 percent of the stake owned by Star Deep has been sold off to Petrobras.

Philanthropic activities

Folorunsho has also been an active philanthropist. She founded the Rose of Sharon Foundation which is known to support widows and orphans. The foundation gives them scholarships and business grants. The Agbami medical and engineering scholarship scheme which is one of the reliable scholarship schemes in Nigeria with over a thousand people yearly as beneficiaries are also supported largely by Folorunsho’s company. Folorunsho donated to Ibrahim Badamasi Babangida University Lapai, the Niger State University in 2014 for the construction of a lecture theater. The theater was named after her after its completion.

Net Worth & Salary

Folorunsho Alakija net worth is estimated to be the US $ 1.56 billion as of the reports of 2017. Folorunsho Alakija net worth has been amassed from the success of her companies Famfa Oil Limited and The Rose of Sharon Group. Folorunsho Alakija net worth will increase in the coming years through her potential future endeavors. Folorunsho Alakija net worth made her be recognized as the richest woman in Nigeria with an estimated net worth of $2.1 billion back in 2014 as reported by Forbes.  A Year later, she is listed as the second most powerful woman in Africa. Folorunsho holds the position of 87th most powerful woman in the world by Forbes.

Body measurements

Folorunsho Alakija age at present is 66. Folorunsho Alakija age exceeds her youthful looks. Even at this age, Alakija has been working enthusiastically for her company. Folorunsho Alakija has a hefty yet a healthy body type. She has black hair that she likes to put short.

Personal Life

Folorunsho Alakija is a married woman. Folorunsho Alakija is married to her husband Modupe Alakija. Her husband is a lawyer. The couple got married in November 1976. The couple went on to have four sons. Folorunsho Alakija sons have been successful in their field of also work with her. Folorunsho Alakija sons and her family reside currently in Lagos, Nigeria. Folorunsho Alakija house is located in London and in Laos. Also, Folorunsho Alakija house in Ikoyi was custom made for her.

Awards & Recognition 

Folorunsho Alakija has been honored many times for her remarkable career in the field of business. Folorunsho Alakija has been named the Best Fashion Designer of The Year in 1986. Also, she is named one of the Pioneers of Nigerian Fashion. Alakija is the lifelong Trustee of the Fashion Designers Association of Nigeria and the Vice-chairperson of Nigeria’s National Heritage Council and Endowment for the Arts. For her remarkable contribution in fashion and arts, Alakija has been honored at the United Nations by Fashion 4 Development.

Folorunsho Alakija is a huge inspiration to many aspiring young entrepreneurs who want to be as successful as she is in the field of business. Folorunsho Alakija twitter account has 9 thousand followers who keep track of her day to day activities. The very talented and significant Folorunsho Alakija bio can be found on various social media site like Wikipedia, twitter, facebook, and more.

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