Tony Elumelu
Tony Elumelu is an economist, entrepreneur, financial expert, philanthropist, and the Chairman of the United Bank of Africa. His wealth comes from investments in United Bank for Africa, Heirs Holding, and Transcorp. He founded the Tony Elumelu Foundation, which empowers nearly three thousand startups from youths across Africa with $5,000 grants every year.
In 1997, he led a small group of investors to acquire the young fledging Crystal Bank in Lagos Nigeria, transformed it into Standard Trust Bank, and merged it with United Bank for Africa. He transformed United Bank for Africa from a Nigerian bank to a multinational bank with a presence in 20 African countries, the U.S., and the U.K. He owns vast real estate and a minor stake in MTN Nigeria.
He is a member of the USAID Private Capital Group for Africa Partners Forum, the co-chairman of Aspen institute Dialogue Services on Global Food Security, and a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative. He is a recipient of two national honors in Nigeria, MFR (2003) and OON (2012). His wealth comes from financial services, oil production, real estate, hospitality, agro-business, and healthcare industries.
