Kola Aluko Net Worth & Biography

Kola Aluko Net Worth & Biography

Kola Aluko is one of the richest men in Nigeria, alongside businesspersons such as Aliko Dangote, Mike Adenuga, and others. He is an energy business tycoon with an interest in aviation and infrastructure development in Africa. Aluko currently serves as an executive director and co-chief officer of the private oil and gas company Atlantic Energy, which is focused on independent exploration and production in Nigeria. This entrepreneur has been one of the richest industrialists in his country for many years now. He is ranked by Forbes on its top ten richest African entrepreneurs list and also as one of the Forty Richest men in Africa. In addition, Mr. Aluko was once listed on The New African Magazine list of 100 Most Influential Africans. He has earned those and several more accolades in recognition of his hard work and determination in building something sustainable in his motherland and across the continent.

Early Life: Family, Education

He was born Kolawole Aluko in Lagos, Nigeria, on 20 October 1969. He is one of the nine children Chief Akanni Aluko, a geologist and High Chief in Ilesha, Osun, Nigeria, and his wife who works as a pharmacist. Chief Akanni who serves as the Chairman of Island Club is the only of his own mother, Mrs. Adedoja Aluko from Ogbomosho in Oyo State, Nigeria.

Kola is a well-educated young man. He was always ambitious from a young age and only wanted to work for himself. His pursuit for greatness led him to enroll at Igbogbi College in Lagos after which he went on to acquire tertiary education before beginning his professional endeavors.

Professional Life: Business career

Aluko’s entrepreneurial intelligence has equipped him to work in different industries starting from the early stages. He spent a while dealing with anything from pharmaceuticals to cars, before diverting his attention to the oil industry completely in the early 1990s.

Kola Aluko joined forces with other businessmen who shared similar ideas with him in 1995 and they founded a Nigerian-based pioneering oil trading company called Besse Oil. The company was one of the first in the country to obtain a credit line with big international banks. It was a major importer of gasoline and also traded crude oil and fuel oil.

Six years after his first company, in 2001, Aluko founded another business named Fossil Resources. This one was an indigenous downstream oil and gas firm where he held the position of chief executive officer and controlled the company’s day-to-day operations.

In 2004, he formed another company Exoro Energy International, became chief executive officer, and moved into oil exploration and production. This new company partnered with an American Irish company, Weatherford, to experiment on its exploration and production technology.

In 2007, the division of Weatherford was acquired by Kola’s team who merged it with Exoro Energy to create an independent company called Seven Energy.

With a team of Nigerian and international executives, Kola Aluko co-founded Atlantic Energy in the year 2011. This company is a private upstream oil and gas establishment that fully concentrated on under-developed producing fields in Nigeria.

In collaboration with the Nigerian Petroleum Development Company, Kola’s Atlantic Energy focused on Niger Delta assets primarily, contracted and carried out its activities under Strategic Alliance Agreements (SAAs) with the Nigerian Petroleum Development Company.

Unsatisfied with his achievements at the time, Kola Aluko, in 2010, diversified into the aviation industry in his country and joined the VistaJet advisory board as a member, where he assisted West-African growth of the Switzerland-based superfluity aviation company.

Kola Aluko Net Worth: Earnings, Income Sources

With all that can be obtained at the moment regarding this subject, we are able to confirm that Kola Aluko’s net worth is pegged at $1 billion. The energy business magnate makes his money from the booming petroleum industry in Nigeria, where he serves as chief and executive director of Atlanta Energy and several other business holdings he co-founded with other business partners.

Kola’s wealth makes him one of the richest men in Nigeria. It also puts him on the 40 richest Africans list, compiled by Forbes magazine. In addition, the co-founder/founder of Besse Oil and Fossil Resources is included in the New African Magazine’s list of the top 100 Most Influential Africans. He has reigned for decades as one of the richest industrialists in Africa. He is ranked by Forbes on its top ten richest African entrepreneurs list. Likewise, he also earns an additional income from his position as an advisory board member of the global business aviation company VistaJet.

His possessions include a fleet of expensive cars, houses in Nigeria, the United States, and the United Kingdom, and a $42 million superyacht.