By Sakariyah, Ridwanullah
When Oba Adeyeye Enitan Ogunwusi Ojaja II ascended the throne as the 51st Ooni of Ife in December 2015, his emergence marked a rare convergence of ancient Yoruba royalty and modern entrepreneurial pedigree.
Nearly a decade later, the Ooni stands as one of Nigeria’s most visible traditional rulers, with public interest extending beyond culture and spirituality to questions about his personal wealth and economic influence.
In 2025, the net worth of the Ooni of Ife is estimated at approximately $70 million according to various independent financial trackers, including a May 2025 valuation by Pulse Ghana. A Nigerian outlet, Within Nigeria, has also suggested a valuation in the $70–$75 million range. His wealth, attributed to his background as a real estate developer and his diversified business empire, remains speculative as these are private assets, not publicly audited financial statements.
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Oba Adeyeye Ogunwusi was born on October 17, 1974, into the Giesi ruling house of Ile-Ife, one of the families eligible to produce an Ooni. His early education took place in Ibadan and Ile-Ife, after which he obtained a Higher National Diploma in Accounting from The Polytechnic, Ibadan.
He later qualified as an associate of the Institute of Chartered Accountants of Nigeria and became a member of several professional bodies, including the Institute of Directors and the Global Real Estate Institute. These credentials formed the foundation of a business career that predated his emergence as monarch.
Before his coronation, Ogunwusi was active in Nigeria’s private sector, with interests that span across construction, real estate development, hospitality, and engineering-related services. Profiles published by ThisDay and ThisDayStyle describe him as a serial entrepreneur involved in housing projects and property development across several parts of the country. Industry accounts, as cited by HowNG, indicate that his companies participated in large-scale residential developments, contributing significantly to his personal wealth before he assumed the traditional office.
While the precise scope of his business holdings has never been publicly audited, multiple reports agree that his financial standing was already substantial before 2015. This distinction has often been emphasised in media narratives to separate his wealth from the privileges of kingship alone. Unlike elected officials, traditional rulers in Nigeria are not required to publicly declare assets, which means wealth assessments rely on observable investments, lifestyle indicators, and historical business activity.
Since he became the Ooni of Ife, Ogunwusi’s economic influence has expanded alongside his cultural visibility. Ile-Ife occupies a central place in Yoruba history, and the monarch’s role as a custodian of tradition places him at the intersection of culture, community leadership, and development engagement.
Surveys by Afrobarometer show that citizens across Africa, including Nigeria, widely regard traditional rulers as influential actors in local governance, land matters, and community cohesion. These roles often overlap with economic and social activity. Afrobarometer data reveal that more than 60 per cent of respondents see traditional leaders as having meaningful influence in local decision-making and development processes, emphasising the fact that the institutional relevance of royal offices is beyond ceremonial functions.
The Ooni has also become prominent for his philanthropic engagements, particularly in education and youth development. In December 2025, PM News Nigeria reported that he awarded millions of naira in cash prizes and support to students and lecturers of The Polytechnic, Ibadan. Similar initiatives, according to ThisDay, include scholarships, entrepreneurial support schemes, and cultural promotion programmes facilitated through foundations linked to the palace.
Despite his visibility, Oba Ogunwusi does not appear on Forbes’ global billionaire rankings, which focus primarily on publicly verifiable corporate wealth. However, analysts cited by wealth-tracking platforms consistently rank him among Nigeria’s richest traditional rulers. For context, Campus Cybercafe lists monarchs such as the Sultan of Sokoto with estimated net worths exceeding $100 million, while placing the Ooni within the upper tier of traditional wealth without positioning him at the very top.
Public debate around the wealth of traditional rulers in Nigeria often centres on transparency and influence, yet available reporting shows that Oba Adeyeye Enitan Ogunwusi’s personal fortune predates his ascension to the throne rather than resulting from it. Profiles in ThisDayStyle describe Ogunwusi as a serial entrepreneur with “vested interests in mining, construction, hospitality, education, banking, real estate and cultural development” before becoming the Ooni, noting that he maintained business ventures in sectors such as “real estate and land projects” that contributed to his financial standing prior to 2015. Specifically, ThisDayStyle’s profile outlines his commercial background as a private-sector investor and operator involved in tourism and real estate development, reinforcing that his wealth reflects long-standing business engagement.
Similarly, HowNG’s biographical reporting highlights his role as founder and managing director of Gran Imperio Group and participation in real estate and construction projects, affirming his pre-kingship commercial footprint. Reporting in The Guardian Nigeria has also positioned his reign within a broader shift in Nigerian traditional institutions, where custodians of heritage increasingly engage with commerce, philanthropy, and global networks with a view to promoting cultural tourism and community development.
In 2025, the Ooni of Ife’s net worth remains a subject of estimation rather than precise accounting. What is clear, based on reporting from ThisDay, Within Nigeria and other verifiable outlets, is that his wealth reflects decades of private enterprise, professional training, and the enhanced influence that accompanies one of Africa’s most revered traditional stools. Beyond the figures, his financial standing depicts how power, culture, and capital continue to intersect in contemporary Nigeria.
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