Folorunsho Alakija Biography: Family, Spouse, Real Name, Career, Net Worth, Age 2025

Folorunsho Alakija Biography: Folorunsho Alakija is not just one of the wealthiest women in Africa; she is a global icon, inspiring millions of aspiring entrepreneurs worldwide. As of 2025, her net worth is estimated to be in the range of $1 billion, a monumental achievement for a woman who started her career as a secretary and went on to revolutionize the oil and fashion industries.

Her success is built on determination, resilience, and an unwavering commitment to her beliefs. This article will delve into the life of Folorunsho Alakija, exploring her early life, career journey, family, and her immense wealth. We will also take a closer look at how she has built a diversified empire and why she remains an influential figure in both the business world and in philanthropy.

If you’re curious about how one woman can go from humble beginnings to building a multi-billion-dollar empire, read on. We’ll also explore key insights into her family, career, and the incredible legacy she is building.

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Folorunsho Alakija Biography

Folorunsho Alakija was born on July 15, 1951, in Ikorodu, Lagos State, Nigeria. Her full name is Folorunsho Olamide Alakija, and she hails from a large family with a rich Nigerian heritage. Alakija’s father, Chief L. A. Ogbara, had a large family, which gave her a deep sense of responsibility and understanding of familial bonds. Raised by her mother, Chief Ogbara’s first wife, Folorunsho grew up in a household with eight wives and fifty-two children, a dynamic that shaped her resilience and ability to manage in complex environments.

Her early education was shaped by international exposure. She was sent to the UK at the age of seven to attend Dinorben School for Girls in Wales. This international exposure laid the foundation for the woman she would become—a cosmopolitan and ambitious individual with a global perspective.

After completing her early education in the UK, Folorunsho attended Pitman’s Central College in London, where she studied secretarial studies. This was a significant step in her journey, as it prepared her for a professional career that would later become the cornerstone of her entrepreneurial success. Her time in London marked the beginning of her professional aspirations, even though it would take several more years before she ventured into the industries that would bring her fame.

Folorunsho Alakija’s Career Journey

After returning to Nigeria, Folorunsho Alakija began working as a secretary at Sijuade Enterprises in Lagos. Her time in this role was short-lived, as she quickly transitioned into the corporate world. She was soon recruited by First National Bank of Chicago, where she held a significant position, eventually becoming the Personal Assistant to the Vice President. In this position, she learned the intricacies of business operations, leadership, and customer relations.

Her banking career provided the financial foundation and experience needed for her future ventures, but her true breakthrough came when she ventured into the fashion industry. This move marked a shift from the financial world to one where she could showcase her creativity and entrepreneurial spirit.

The Fashion Empire

In the early 1980s, Alakija moved to London to study fashion design at the American College in London. Upon returning to Nigeria, she founded The Rose of Sharon House of Fashion. This move was not just about clothing design—it was about setting a new standard for fashion in Nigeria. Her fashion house quickly gained popularity due to its bespoke creations that appealed to the affluent classes.

Her work in the fashion industry helped her establish a name for herself as a designer of high-end fashion and opened doors to numerous opportunities. Alakija’s fashion line focused on quality, craftsmanship, and personal attention to detail, and soon she became a household name in Nigeria’s fashion industry.

Alakija’s ability to navigate the competitive world of fashion, coupled with her keen business mind, allowed her to make significant strides in an industry where many women had struggled to gain recognition.

The Oil Industry Breakthrough

Perhaps the most defining moment of Alakija’s career came when she made the daring move into the oil industry. In 1993, she applied for an oil prospecting license (OPL). This was a bold decision, as the oil industry in Nigeria was traditionally dominated by men, but Alakija’s persistence and vision paid off. She was granted the oil license, which was a significant achievement.

In 1996, her company, Famfa Oil, entered into a joint venture with Star Deep Water Petroleum and ExxonMobil for the development of the Agbami Oil Field, one of Nigeria’s largest and most lucrative offshore oil fields. The venture was a major success and has remained a cornerstone of Alakija’s fortune.

Alakija’s entry into the oil industry made her one of the wealthiest and most influential figures in Africa, and she remains a dominant force in the Nigerian oil sector. Her stake in the Agbami Oil Field continues to contribute to her growing wealth and business portfolio.

Expanding Her Empire

In addition to her oil and fashion ventures, Alakija has also diversified her business interests. She is involved in real estate, printing, and agriculture, among other industries. Her Rose of Sharon Group, which includes various business interests, has allowed her to become a leading figure in Nigerian entrepreneurship.

She has proven that diversification is the key to long-term success. By tapping into various industries, she has not only expanded her wealth but also created a network of businesses that complement one another, further solidifying her place among the top entrepreneurs in Africa.

Folorunsho Alakija’s Net Worth in 2025

As of 2025, Folorunsho Alakija is estimated to have a net worth of $1 billion, making her one of the wealthiest individuals in Africa and one of the richest women in the world. Much of her wealth comes from her investments in oil, particularly her stake in the Agbami Oil Field, as well as her successful businesses in fashion, real estate, and printing.

Her business ventures are not just limited to Nigeria; they have a global reach, with international partners in the oil industry and across various sectors. Alakija’s net worth has been steadily growing as she continues to make strategic investments, expanding her business empire and maintaining a keen eye for lucrative opportunities.

Key Contributors to Her Net Worth:

Famfa Oil: Alakija’s 60% stake in the Agbami Oil Field remains one of the main sources of her wealth.
Fashion Business: Through her fashion brand, The Rose of Sharon House of Fashion, Alakija has built a successful brand catering to high-net-worth individuals in Nigeria and abroad.
Diversified Investments: Her real estate and printing ventures have further bolstered her wealth, making her a well-rounded and diversified businesswoman.

Her net worth continues to grow as she expands her empire and makes wise investments in industries like real estate and agriculture, ensuring her place as one of Africa’s most influential entrepreneurs.

Folorunsho Alakija Family and Personal Life

Folorunsho Alakija comes from a large family and has always spoken fondly of her upbringing. Despite growing up in a large family with numerous siblings, her close relationship with her mother, Chief Ogbara, has shaped much of her values, particularly her drive for success and resilience in the face of challenges.

Spouse:

Folorunsho Alakija is married to Modupe Alakija, a lawyer, whom she married in 1976. The couple has four sons and has been together for nearly five decades. Modupe has supported his wife throughout her career, both emotionally and financially, and their partnership remains one of the cornerstones of her success.

Alakija has often credited her family as one of the key elements that helped her achieve success, providing a solid foundation and emotional support that allowed her to pursue her entrepreneurial dreams.

Personal Life and Faith:

Folorunsho Alakija is a devout Christian and frequently emphasizes the importance of faith in her life and career. She believes that her success is a result of God’s guidance, and she has dedicated much of her time and resources to charitable causes, especially those that uplift women and children.

In addition to her business ventures, Alakija is passionate about giving back to the community. Through her Rose of Sharon Foundation, she has helped countless widows and orphans, providing them with scholarships, grants, and other forms of support. Her philanthropic work reflects her belief in making a positive impact on society and using her wealth to help those in need.

Folorunsho Alakija Age(2025)

As of 2025, Folorunsho Alakija is 73 years old. Despite being in her seventies, she continues to lead her businesses and philanthropy with the same vigor and dedication as she did in her younger years. Her age has not slowed her down; if anything, it has given her more time to mentor the next generation of entrepreneurs and continue her work in the oil industry and beyond.

Her longevity in business is a testament to her resilience and adaptability. Alakija’s ability to navigate the changing landscape of Nigerian business and the global market has made her a respected figure, and her influence continues to grow as she expands her philanthropic efforts.

Philanthropy and Legacy

Folorunsho Alakija is committed to giving back to the less fortunate. Through her Rose of Sharon Foundation, she has provided scholarships, financial support, and empowerment to widows and orphans in Nigeria. She has always emphasized the importance of education and has made significant contributions to improving access to education for underprivileged children.

Her charitable work extends beyond just financial donations; she is also involved in mentorship programs that help young women start their own businesses and achieve success in their careers. Alakija’s philanthropic efforts have made her a beloved figure in Nigeria and have earned her numerous awards and accolades.

As a businesswoman and philanthropist, Folorunsho Alakija’s legacy is one of empowerment, resilience, and success. She has proven that with hard work, determination, and a willingness to take risks, anyone can achieve greatness.

Conclusion

Folorunsho Alakija’s journey from secretary to oil mogul, fashion entrepreneur, and philanthropist is nothing short of extraordinary. Her story is a powerful example of how determination, faith, and hard work can lead to unimaginable success. With a net worth of $1 billion, she stands as one of the wealthiest women in Africa and a role model for aspiring entrepreneurs worldwide.

Alakija’s contributions to business, philanthropy, and society at large are immeasurable. As she continues to grow her empire and inspire others, her legacy as one of Africa’s most successful businesswomen is secure. Her story encourages us all to never give up on our dreams, no matter where we start, and to always give back to those who need it most.

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