His fortune drew all attention to the point that the American Magazine Forbes was interested in the man. In addition to his king’s crown, he is Nigeria’s and Africa’s richest ruling king.
Frederick Obateru Akinruntan was confirmed by the American magazine as the richest man in the country of the wealthy businessman Aliko Dangote.
Despite the function of “Olugbo” (king) he occupies, he managed his affairs to make a fortune.
It is heavy $ 300 million, about 150 billion CFA francs! He invested his money in black gold. The Magazine informs that it holds the largest oil deposit in Africa. He also founded Obat Oil Company in 1981 with a gas station. The company now has more than 60 stations across the country.
Oil is not its only field of activity. The billionaire king is also in the real estate, the hotel business .. He was distinguished when he became the first black to buy the 2014 model of Bentley, which until then was only used by the Queen Elizabeth II of the United Kingdom.