When you hear the phrase “richest Black woman in the world,” one name stands tall: Folorunsho Alakija. More than just a billionaire, she’s a wife, mother, entrepreneur, philanthropist, and a true symbol of resilience.
| Full Name | Folorunsho Alakija |
| Age | 73 years old (as of 2025) |
| Date of Birth | 15 July 1951 |
| Gender | Female |
| Occupation | Business Woman |
| Marital Status | Married |
| Place of Birth | Ikorodu, Lagos State |
| Nationality | Nigerian |
| Net Worth | $1.5 billion |
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Folorunsho Alakija Biography
Folorunsho Alakija is a Nigerian businesswoman and philanthropist. Globally recognized for her wealth and influence, she has built a legacy across fashion, banking, oil, real estate, and philanthropy.
Alakija was born on 15 July 1951 into a large polygamous family in Ikorodu, Lagos State. Her father, Chief L. A. Ogbara, had eight wives and 52 children, and her mother was the first wife. Growing up in such a vibrant household taught Folorunsho independence and adaptability.
Folorunsho Alakija Educational Background
At just seven years old, she was sent to Wales for her early education before returning to Nigeria to complete her secondary schooling at Muslim High School, Sagamu.
She went on to study secretarial studies at Pitman’s Central College, London, before pursuing fashion design at the American College, London, and the Central School of Fashion.
Her passion for learning didn’t stop there; in 2006, she acquired an MBA in Energy from CWC School for Energy, London, strengthening her influence in the oil industry.
Folorunsho Alakija’s Career
Her career began in 1974 as an executive secretary at Sijuade Enterprises. She later worked with the First National Bank of Chicago and the International Merchant Bank of Nigeria, building her corporate experience. In the 1980s, Folorunsho pivoted into fashion. She founded Supreme Stitches (later Rose of Sharon House of Fashion), becoming one of Nigeria’s most celebrated designers and earning the award for Best Fashion Designer in Nigeria.
In 1993, her biggest career breakthrough came when she secured an oil prospecting license for the Agbami Oil Field through her company, Famfa Oil Limited. Despite challenges and government interests in her stake, Alakija retained a substantial share, cementing her status as a billionaire.
She also owns:
- Rose of Sharon Prints & Promotions
- Digital Reality Print Ltd
- Dayspring Property Development Company
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Folorunsho Alakija’s Age
As of 2025, she is 73 years old.
Folorunsho Alakija Awards and Recognition
Alakija has been recognised in so many ways over the years. and has also been awarded various awards for her hard work in the business sector. Some of them include:
- Featured on Forbes’ World’s Most Powerful Women list (#96 in 2014, #87 in 2015)
- First female Chancellor of a Nigerian public university (Osun State University, 2016)
- Honorary Doctorates: Benson Idahosa University (2021), Chrisland University (2022)
- Multiple fashion and business leadership awards
Folorunsho Alakija Philanthropy
Through the Rose of Sharon Foundation, founded in 2008, Alakija supports widows, orphans, and students with scholarships, business grants, and empowerment programs.
She has funded:
- Scholarships for thousands of students (including the Agbami Medical & Engineering Scholarship Scheme)
- Libraries, clinics, and skill centres across Nigeria
Folorunsho Alakija Marriage and Children
Folorunsho married Modupe Alakija in 1976, and they have remained happily married for nearly five decades. Together, they have four sons, all educated abroad and active in family businesses.
- Her son Folarin Alakija married Iranian model Nazanin Jafarian in 2017, in a glamorous UK wedding.
- Another son was married to Nollywood actress Sophie Alakija.
- Her nephew is popular Nigerian DJ, DJ Xclusive.
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Folorunsho Alakija Controversies
Unlike many billionaires, Folorunsho Alakija has largely avoided scandals. Although some rumors about marital issues have appeared on social media, none have been confirmed. Her reputation remains clean and rooted in her Christian faith.
Books Authored by Folorunsho Alakija
She has written several inspirational and spiritual books, including:
- University of Marriage
- Growing with the Hand that Gives the Rose
- The Cry of Widows and Orphans
- Alone with God
Folorunsho Alakija Net Worth
As of 2025, Folorunsho Alakija’s net worth is estimated at $1.5 billion, driven primarily by her oil exploration company, Famfa Oil Limited. Making her one of the richest women in Africa and the richest Black woman in the world.
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Folorunsho Alakija Social Media Handles
- Instagram: @alakijaofficial
- Twitter X: @alakijaofficial
- Facebook: folorunsho alakija
