Billionaire businesswoman, Folorunsho Alakija: Biography, Age, Marriage, Children, Net Worth and Source of Wealth

Biography

Folorunsho Alakija is a Nigerian billionaire businesswoman and philanthropist.  As of 2015, Alakija is listed as the second most powerful woman in Africa after Ngozi Okonjo-Iweala and the 87th most powerful woman in the world by Forbes.

Alakija started her career in 1974 as an executive secretary at Sijuade Enterprises, Lagos, Nigeria shortly after completing a Secretarial Course at Pitman’s Central College London. 

She moved to the former First National Bank of Chicago, which later became FinBank now acquired by FCMB (First City Monument Bank) as the Executive Secretary to the managing director. She became the new Head of the Corporate Affairs Department of the International Merchant Bank of Nigeria (formerly First National Bank of Chicago), and later on became the Office Assistant to the Treasury Department. Shortly after her career in the banking world which lasted for 12 years, Alakija took up new challenge which was driven by her passion for Fashion to study fashion design at The American College in London and the Central School of Fashion. After her return to Nigeria, she started her first fashion label known as Supreme Stitches, which was later renamed The Rose Of Sharon House of Fashion in 1996. Within a few years, as Rose of Sharon House of Fashion, it became a household name.

Early Life

Alakija was born on 15 July 1951 to an upper-middle-class family; her father was Chief L. A. Ogbara of IkoroduLagos State

Marriage

Alakija married a lawyer, Modupe Alakija of the Adeyemo Alakija family, in November 1976.

They reside in Lagos, Nigeria, with their four sons and their grandchildren. Her nephew is DJ Xclusive.

In June 2017, Folorunso’s son Folarin Alakija, married Iranian model Nazanin Jafarian Ghaissarifar in a wedding at Blenheim Palace in England.

Age

born 15 July 1951

Education

Alakija attended her nursery education at Our Ladies of Apostles, Lagos from 1955 to 1958. 

At the age seven, Alakija travelled to the United Kingdom to continue her primary education at Dinorben School for Girls in Hafodunos Hall in Llangernyw, Wales between 1959 and 1963. On the completion of her primary education, Alakija attended Muslim High School in SagamuOgun StateNigeria. She then returned to England for her secretarial studies at Pitman’s Central College, London.

Source of wealth

She is involved in the fashion oil, real estate and printing industries. 

She is the Group Managing Director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited.

Net Worth

Alakija also has a majority stake in DaySpring Property Development Company. Folorunsho Alakija is ranked by Forbes as the richest woman in Nigeria with an estimated net worth of $1 billion as of 2020.

Recognition and Awards

As of 2014, Alakija is listed as the 96th most powerful woman in the world by Forbes.

 In May 2015, two Nigerian women, Finance Minister Ngozi okonjo-Iweala and Alakija were listed among the world’s 100 most powerful women according to Forbes. She was 86th on the list. 

Alakija is #20 in 2020 Africa’s Billionaires list Dropped off in 2021, #1941 Billionaires 2019 Dropped off in 2020 and #80 Power Women 2016 Dropped off in 2017. 

On 17 July 2021, Benson Idahosa University, Benin City gave her an honorary Doctorate Degree in Business Administration. This was in recognition of her contribution to the business world.

Disclaimer

The information in this article was curated from online sources. All details cannot be independently verified by NewsWireNGR or its editorial team.

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