According to Forbes Magazine, which released the 2011 rich list today March 10, 2011, Mr Adenuga, a Nigerian, is worth a net of $2 billion.
Mr Adenuga placed 9th in Africa and 595 in the world on the list.
Forbes says the source of his money is from banking and his own self.
Nigerian Aliko Dangote is Africa’s richest man worth $13.8 billion.
According to Forbes, he made his first million at age 26 selling lace and distributing Coca-Cola and then won a contract to build military barracks in the late 1980s in Nigeria.
Mr Adenuga owns a stake in the Equitorial Trust Bank and chairs Niger Delta oil exploration firm Conoil.
Last year, the telecoms magnate was reportedly worth $6 billion by the Encomium magazine but Forbes excluded him from the list.
He started Globacom in Nigeria in 2005, expanded to the Republic of Benin in 2008 and now has licences to operate in Ghana.
Meanwhile Mexico’s Carlos Slim is still the world’s richest man with his wealth grew by more than a third. His fortune rose by $20.5bn (£12.65bn) to $74bn, again beating Microsoft founder Bill Gates ($56bn) into second place.
More than 200 people joined the billionaires list as their numbers rose to a new record of 1,210, Forbes said.
By Ekow Quandzie
ghanabusinessnews.com
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