Fact and Discovery

Meet The Richest King in Yoruba Land 2020

The richest king in Yoruba land is what this post seeks to explain. This wealthy Yoruba monarch is the only one from the list of obas in Yoruba land to emerge as the richest king in Nigeria currently according to Forbes ranking.

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Oba Obateru Akinrutan

The richest Yoruba king in Nigeria is the Olugbo of Ugbo Kingdom, HRM Frederick Obateru Akinruntan. Although he is not the most powerful Oba in Yoruba land, his wealth and assets beat that of the current Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, the Alaafin of Oyo, Lamidi Adeyemi to emerge the wealthiest Oba in Nigeria with a net worth of $300 million according to Forbes.

The major source of Oba Akinruntan wealth is oil. He is the founder and owner of OBAT Oil which he started as a gas station in 1981 at Ondo State, Nigeria. The oil company now has more than 50 gas stations in Nigeria. Apart from this, he also owns the largest petroleum depot in Africa.

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Oba Akinruntan OBAT Oil company houses one of the largest tank farms in Africa that has the ability to save 70 million liters of petroleum products. He has landed properties both in Nigeria and even in London. He is also into real estate and owns a popular hotel located in the Federal Capital Territory, Abuja.

Oba Obateru Akinrutan was crowned the Olugbo of Ugbo land in Ondo state in the year 2009 which makes him one of the most respected Obas in Yoruba land. This wealthy Yoruba monarch is a man of taste, class and sure knows how to enjoy his riches. He has a luxury of cars inside his palace. He entered the history books when he became the first black person in 2012 to buy the 2014 model of Bentley which Queen Elizabeth of England rode.

It is rumored that the richest Yoruba King in Nigeria also owns the most expensive yachts in Nigeria as he loves traveling by water. His kingdom, Ugbo kingdom is also a riverine area where he grew. He is also among the list of top 50 people in Nigeria.

Other lists of rich kings in Yoruba land that is influential in Nigeria include:

Alaafin of Oyo

Ooni of Ife

Oba of Lagos


    1. Very true….he is d richest king in Nigeria…..but through this covid pandemic we have not heard him give anything to the government nd its people

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