Complete Biography and Net Worth of Mike Adenuga

Complete Biography and Net Worth of Mike Adenuga
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Mike Adenuga is a well-known philanthropist, businessman, adventurer, risk taker, entrepreneur, and as well as the second richest man in Nigeria. He owns the famous Globacom also known as GLO and other lucrative enterprises.


Michael Adeniyi Agbolade Ishola Adenuga Jr born to a Nigerian father and mother is a Nigerian business tycoon, and also the second richest person in Nigeria, West Africa.

He owns the second-largest telecom operator, Globacom (Popularly known as GLO) in Nigeria which also has a presence in Ghana and Benin. Also known as Mike Adenuga, he owns stakes in the Equatorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company).

His net worth has been estimated to be $10 billion as of 2016 by Forbes which makes him second wealthiest Nigerian behind Aliko Dangote, as well as the second richest person in Africa.

Early Life

Mike Adenuga was born on the 29th April 1953 to Oloye Michael Agbolade Adenuga Sr and Juliana Oyindamola Adenuga.  His father was a school teacher, and his mother Juliana Oyindamola Adenuga (née Onashile of Okesopin, Ijebu Igbo) a businesswoman of royal Ijebu descent.

Mike got his secondary school education at the Ibadan Grammar School, Ibadan and Comprehensive High School, Aiyetoro for his Higher School Certificate (HSC).

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After graduating from secondary school he proceeded to Northwestern Oklahoma State University and Pace University, New York to obtain degrees in Business Administration. Young Mike Adenuga worked as a taxi driver to help fund his university education.


He received a drilling license in 1990 and in 1991, his Consolidated Oil struck oil in the shallow waters of Southwestern Ondo State, the first indigenous oil company to do so in commercial quantity.

He was given a conditional GSM licence in 1999; after it was cancelled he received a second one when the government held another auction in 2003. His telecom company Globacom popularly known as GLO, spread like wildfire and stood to challenge the South Africa owned telecom giant MTN Group.

It launched services in Benin in 2008, and has continued its spread across Ghana, Benin, and Côte d’Ivoire, with more licences currently being prospected in other West African countries.

He was named the African Entrepreneur of The Year at the maiden African Telecoms Awards (ATA) on 15 August 2007.

Mike Adenuga was detained for money laundering by the Economic and Financial Crimes Commission in 2009.  He left the country and lived in London until the Umaru Musa Yar’Adua regime granted him a pardon.

In May 2015, Adenuga made a takeover bid to purchase Ivorin named bile telecom’s operator Comium Côte d’Ivoire for $600 million.

In June 2016, it was revealed that Adenuga was being pursued for a combined debt of USD $140.5 million, after his company ConOil failed to pay debts owed to, among others, the French oil giant Total.


Bellbop, another company owned by Adenuga, has an interim injunction placed on it by the High Court in Lagos, after failed to pay USD $9.4 million it owed to the US oil and gas firm Baker Hughes.

Net Worth

Mike’s net worth has massively risen from $10 billion (Forbes) and $8 billion (Ventures Africa). With most of his wealth coming from his Tele-communication and his oil businesses.


Officially married to Titi Joyce Adenuga, Mike is a well-known polygamist. He has had series of relationship with other women. 

Mike has a daughter named Bella from his marriage to Titi Joyce Adenuga and other six children named:  Adetutu Oyindamola Emilia, Eniola, Folashade Adeniyi, Prince Michael, Tunde, life Abimbola.  

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