Forbes’ List Deepens Tony Elumelu-Jim Ovia Rivalry
To the undiscerning, cordiality
describes the relationship between Tony Elumelu, former Group Managing Director of
For a long time, Elumelu and Ovia have been trying to outshine each other in the race for economic supremacy of who makes more money, who acquires more properties and who receives more accolades.
The recently released Forbes's list of Africa's 50 Richest has further deepened the cold war between Elumelu and Ovia. The list, which was released yesterday, includes Elumelu as one of the new entrants into the richest league, and also rates him ahead of his rival, Jim Ovia, who has been on Forbes' rating for three consecutive years.
Tony Elumelu, according to Forbes is worth $1billion while Jim Ovia's current wealth is put at $850million.
The rivalry dates back to their days in banking, where both of them jostled for number one in the nation's financial sector. Shortly after Tony Elumelu left banking, he immediately launched an audacious bid for acquisition of Transcorp Hilton Hotel in Abuja which he succeeded in pricing away from its old owners. His peer, Ovia, who retired from Zenith Plc, courtesy the then new CBN's rule on tenure of bank bosses, shelled out billions of Naira to bring Marriot Hotel Group to Nigeria through franchise.
TheCapital authoritatively learnt that Ovia made spirited efforts to become chairman of Zenith Bank Plc Board when he learnt that Elumelu had perfected his ascension of the same position in UBA Plc. Today, both of them sit as Chair of their respective banks when they once were managerial
bosses.
It is interesting to report that Jim Ovia owns all the properties that house every branch of Zenith Bank in Lagos and beyond while Tony Elumelu has continued to keep his holds on the operations of UBA Plc.
Meanwhile, Alhaji Aliko Dangote has continued to retain his position as Africa's richest man with a networth of $21.6billion. Dr. Mike Adenuga owner of Globacom sits comfortably number six spot with a networth of $4.6billion while Folorunsho Alakija with a worth of $2.5billion still holds the ace as the richest woman in Africa and 12th richest person in Africa.
Former minister of Defence General
Theophilus Danjuma appears on the list as the 22nd richest person in Africa with a worth of $1.1billion. Tony Elumelu is the 26th richest in Africa, a position he shares with former governor of Abia state, Orji Uzor Kalu.
Femi Otedola with a worth of
$900million is 29th on the list while Jim Ovia sits on the 30th spot with a networth of $850million.
$900million is 29th on the list while Jim Ovia sits on the 30th spot with a networth of $850million.
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