2. Ladi Delano (Net worth of over N10 billion)
Ladi Delano, one of the youngest billionaires in Nigeria, he is a British-born Nigerian technopreneur who, along with his co-founder and co-CEO Jide Odunsi, is making waves with his latest venture, Moove, the world’s first mobility fintech service.
In 2019, Delano teamed up with fellow British-born Nigerian technopreneur Jide Odunsi to co-found his latest venture, Moove Africa BV. The project provides revenue-based financing to ride-hailing drivers in sub-Saharan Africa and has already enjoyed tremendous success, securing a highly profitable partnership with Uber and raising over $174.5 million in funding.
Having captured the African market, Delano now aims to scale the model to new market needs in Asia, MENA, and Europe over the next six months. Although he has Nigerian heritage, Delano was born, raised, and educated in London in the UK. According to the information gathered, he attributes much of his success to his parents, who he describes as “unsung heroes” who made multiple sacrifices and did everything in their power to ensure their children received the education and support they needed to succeed in life.
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His father, a corporate executive and an MBA lecturer, spent hours studying business techniques with Delano, educating him on the things that, 20 years later, would turn him into one of Nigeria’s most successful entrepreneurs. He earned an MPA from the London School of Economics and Political Science, a Master of Science from Oxford University, and a Postgraduate Diploma in Global Business from Oxford University.
When Delano’s parents moved to the US shortly after he left college, Delano joined them. Within three weeks, he’d landed an internship with Merrill Lynch. After the end of the training, Delano moved back to London, where he and a group of friends decided to capitalize on the growing market for vodka by venturing into the liquor business.
The result, Solid XS, became a success at least in terms of sales. But while there was no shortage of customers, the high cost of doing business in London ate up most of the start-up’s profits. Determined not to give up, Delano moved the business to China. It proved a wise move, and within very little time, Solid XS accounted for over 50% of the vodka market in the country.
After several years of building Solid XS into one of the dominant forces in the Chinese liquor market, Delano decided to sell after the company after the Global Financial Crisis of 2008-2009 began to bite hard. After receiving an offer from a rival firm, Delano sold the business for $15 million, which he promptly reinvested in his next venture.
In April 2012, Delano decided to move to Nigeria, a country he considered ripe for investment. After arriving, he formed Bakrie Delano Africa (BDA), a $1 billion joint venture with BakrieGroup of Indonesia, a conglomerate with interests across various industries, including infrastructure, property development, mining, oil and gas plantations, media, and telecommunications.
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