Fredrick Obateru Akinrutan of Ugbo Kingdom, Nigeria. Photo Credit: Xclusive Hit
Fredrick Obateru Akinrutan, Nigeria
King Fredrick Obateru Akinruntan was born in 1950 in Ilaje, Ondo State, in southern Nigeria. He is the traditional ruler and king of Ugbo Kingdom and is estimated to be worth $300 million. His wealth comes from his vast investments in the oil industry. King Akinrutan is the founder of Obat Oil, which is one of the largest private oil companies in Nigeria.
King Akinrutan is known to live a lavish lifestyle. In 2014, he was quoted by a local newspaper saying that he wears a $1 million watch. He ascended to power in 2009 after a legal battle with another royal family that was claiming the throne.
