Folorunsho Alakija

*Oprah Winfrey has reportedly been unseated as the world’s richest black woman.

According to a report published by Ventures Africa, an African business magazine and news service, the new title holder is Nigerian fashion designer and oil tycoon Folorunsho Alakija, who is worth an estimated $3.3 billion. That’s $500 million richer than Winfrey, whose wealth Forbes magazine estimated at $2.7 billion in September.

Alakija, 61, is the founder and owner of Famfa oil, a Nigerian oil company which owns a 60% working interest in OML 127, an offshore oil field which produces 200,000 barrels of oil per day.

“Total E&P recently sold off its 20% stake in a similar oil field to China’s Sinopec for $2.5 billion,” explains Ventures Africa editor Douglas Imaralu. “The oil field in question has a daily production capacity of 180,000 barrels a day.

“Similarly, other hand, OML 127 in which Famfa has a 60% interest produces about 200,000 barrels a day. When we did the math using the Total-Sinopec deal as a comparator, we came to the realization that Alakija’s stake is easily worth billions of dollars. We showed our calculations on ventures-africa.com. At this point, we have no doubt that she is indeed, richer than Oprah.”



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