Have you ever wondered who the richest men in Ondo State are? What kind of businesses or careers helped them become so wealthy? If you’ve been thinking about these questions, then this article is just for you.
Ondo State is one of the key states in Nigeria's South-West. Known for its natural resources, coastal trade, and large farming communities, the state has produced several powerful businessmen, politicians, and investors. From oil and gas to farming, real estate, and government service, these individuals have built wealth over the years.
In this post, I’ll be showing you the top 10 richest men in Ondo State in 2025 and how they made their money. If you've ever asked questions like: Who is the richest man in Ondo State?, How did Ondo billionaires get rich?, What businesses are making money in Ondo State?, or Who are the most successful entrepreneurs in Ondo?, then keep reading, this guide is for you.
Why You Should Know About the Richest Men in Ondo State
Understanding how wealthy people in Ondo made their money can help inspire and guide you. These men have used different paths to build wealth some through politics, others through farming, business, or oil.
Here’s why this list is important:
It shows which areas are profitable in Ondo’s economy.
It helps young people learn how to grow their own businesses.
It highlights how to mix hard work, good decisions, and smart investments.
Now let’s get into the list of the richest men in Ondo State in 2025.
1. Chief Michael Ade-Ojo – Business Mogul and Auto Tycoon ($950 Million)
Chief Michael Ade-Ojo is the founder of Elizade Motors and Elizade University. He is the richest man in Ondo State in 2025 with an estimated net worth of $950 million.
How He Made His Money: He started by selling Toyota vehicles and expanded into education and farming. His hard work and smart planning helped him grow his business empire.
Businesses and Assets:
Elizade Motors (car dealership)
Elizade University
Agriculture and real estate investments
2. Jimoh Ibrahim – Lawyer, Politician, and Investor ($600 Million)
Jimoh Ibrahim is a well-known businessman, lawyer, and politician from Ondo State. He owns companies in insurance, oil, media, and hotels. His net worth is around $600 million.
How He Made His Money: He built several companies under his Global Fleet Group and used his law background to manage deals.
Businesses and Assets:
Global Fleet Oil and Gas
NICON Insurance
Hotels and real estate
3. Rotimi Akeredolu – Lawyer and Former Governor ($500 Million)
Rotimi Akeredolu, the former governor of Ondo State, made part of his wealth from law and politics. He also invested in land, real estate, and business partnerships.
How He Made His Money: He practiced law for many years before becoming a politician and using the position to grow his financial network.
Businesses and Assets:
Law firms and consultancies
Real estate in Ondo and Abuja
Shares in local businesses
4. Dr. Tunji Abayomi – Lawyer and Business Consultant ($350 Million)
Dr. Abayomi is a respected lawyer and political advisor in Ondo State. He has invested in education, consultancy, and real estate.
How He Made His Money: He used his knowledge in law and politics to advise top politicians and earn from private businesses.
Businesses and Assets:
Law and advisory services
Real estate
Education sector
5. Ifeanyi Odili – Oil and Real Estate Investor ($320 Million)
Ifeanyi Odili is not a well-known name to many, but he has built wealth quietly through oil importation and housing development across Ondo and Lagos.
How He Made His Money: He took advantage of the oil trade and began building estates in Akure and nearby cities.
Businesses and Assets:
Oil distribution
Property development
Hospitality services
6. Chief Tayo Alasoadura – Oil and Government Consultant ($300 Million)
Chief Alasoadura, a former senator and minister, is also a strong figure in oil and public finance. He made money through oil servicing and public projects.
How He Made His Money: His time in politics helped him enter the oil and gas business.
Businesses and Assets:
Oil and gas servicing
Government-backed contracts
Investments in Ondo’s coastal development
7. Otunba Dele Ologbese – Real Estate and Community Leader ($250 Million)
Dele Ologbese is a respected traditional and business leader. He owns plots of land, houses, and shopping complexes in Akure and Ilesa.
How He Made His Money: He invested in land early and sold to major developers.
Businesses and Assets:
Property sales and rental
Community business centers
Local farming
8. Sunday Olajide – Tech and Communications Investor ($210 Million)
Sunday Olajide is one of the younger names on this list. He invested in tech services and mobile telecom retail across the southwest.
How He Made His Money: He grew small tech shops into large regional chains selling mobile phones and internet gadgets.
Businesses and Assets:
Tech retail and supply
Internet and mobile business
Mini malls and offices
9. Bode Ayorinde – Education, Law, and Real Estate ($180 Million)
Bode Ayorinde is the founder of Achievers University in Owo, Ondo State. He’s a lawyer, entrepreneur, and former House of Reps member.
How He Made His Money: He mixed education, politics, and law into a steady stream of income.
Businesses and Assets:
Achievers University
Legal practice
Property in Owo and Lagos
10. Kolawole Akinmosun – Hospitality and Event Management ($150 Million)
A successful hotelier and event planner, Akinmosun has built a name in the tourism and entertainment space of Ondo.
How He Made His Money: He started by planning weddings and parties, then opened hotels and event centers.
Businesses and Assets:
Hotels and guest houses
Event venues
Media and entertainment services
Conclusion
The top 10 richest men in Ondo State in 2025 have made their wealth in different ways — from cars and oil to law, politics, and real estate. They all show that with focus, hard work, and the right investments, you can build wealth from Ondo State to the world.
If you’re looking to understand what businesses work in Ondo or how local billionaires made it big, this list gives you both inspiration and real-life lessons.
Frequently Asked Questions (FAQs)
1. Who is the richest man in Ondo State in 2025?
Chief Michael Ade-Ojo with a net worth of $950 million.
2. What businesses make the most money in Ondo?
Oil, real estate, education, farming, and transport.
3. Are there billionaires in Ondo State?
Yes, especially in the auto, oil, and education sectors.
4. How do Ondo politicians get rich?
Through contracts, land ownership, and consulting.
5. Which town has the most wealthy men in Ondo?
Akure, Owo, and Ondo town lead in wealthy residents.