Born on April 29, 1953, Mike Adenuga grew up with a business woman and teacher as his parents. He studied at the Ibadan Grammar School before he graduated from Northwestern Oklahoma University. Following his undergraduate degree, he studied business administration at Pace University. With his experience in business administration, Adenuga decided to return to Nigeria and receive his drilling license in 1990.
Only one year later, he struck oil and formed the first local oil business that was able to produce in commercial amounts. In addition to his work in the oil industry, Adenuga owns a telecommunications company called Globacom. Through this company, he has worked to to take on the megalithic MTN Group. By 2008, Globacom started servicing people in Benin. Since that time, it has launched services in several other West African nations.
Due to his business enterprises, Mike Adenuga was awarded the title of African Entrepreneur Award of the Year in 2007. Unfortunately, he was stopped on money laundering charges only two years later. Following this controversy, Adenuga decided to move to London. He was finally pardoned and still retains more than 24 million mobile phone customers in Nigeria. His oil exploration business regularly produces up to 100,000 barrels a day. The Nigerian business tycoon has a net worth of $4.7 Billion.