Net worth: $700million Tony Onyemaechi Elumelu is a Nigerian economist, entrepreneur, and philanthropist. He is the Chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. Elumelu holds the Nigerian national honours, the Commander of the Order of the Niger (CON) and Member of the Order of the Federal Republic (MFR). He has been responsible for creating business that are critical to Africa's economic development. He is a proponent of “Africapitalism,” an economic philosophy which advocates for the private sector’s commitment to Africa’s development through long-term investment in strategic sectors of the economy, that drive economic prosperity and social wealth.

Entrepreneurship

Founded in 2010, the foundation aims at enpowerment of African entrepreneurship, promotion of leadership and creation of integrated entrepreneurial ecosystem. The flagship programme, the Tony Elumelu Foundation Entrapreneurship Programme is the largest African philanthropic initiative devoted to entraprenurship, representing a 10 year, $100 million worth of commitment to identify and empower 10,000 African entrapreneurs, create meaningful jobs adding $10 billion in revenues to African economy.