Amidst the financial landscape of 2023, Tony Elumelu’s affiliated companies emerged as standout performers, showcasing a stellar year for the astute billionaire investor.
According to Nairametrics, these companies collectively amassed a substantial market capitalization gain of N1.6 trillion, positioning themselves among the most lucrative groups associated with a billionaire on the NGX.
The entities linked to Mr. Elumelu encompass Transcorp Group, Transcorp Hotel, UBA, Africa Prudential, and United Capital, all of which are publicly listed.
While Tony Elumelu does not possess full ownership of all shares, he exerts considerable control as the predominant shareholder across these enterprises.
At the commencement of the year, these companies commenced their journey with a combined market valuation of N467 billion. Their remarkable performance culminated in a staggering increase, elevating their total market worth to an impressive N2.1 trillion by year-end, reflecting an astounding N1.6 trillion surge in value.
Mr. Elumelu’s substantial influence and strategic stakes within these corporations underscore his pivotal role in steering their successes throughout the year, contributing significantly to the notable gains observed.
