The Richest King In Nigeria Is An Oil Mogul And Founder Of Obat Oil| Check Out His Networth

King Fredrick Obateru Akinruntan, the Oba of Ùgbó Kingdom in Ilaje LGA, Ondo State, Nigeria is Nigeria's richest King and after King Mohammed of Morocco, he is Africa's second richest King with a net worth of $300 million according to Forbes. His networth comes mostly from his investments in the oil industry. He is an Oil Mogul and Founder of Obat Oil, one of Nigeria’s largest private oil companies.

He formed Obat Oil in 1981. It has over 50 gas stations, one of Africa's largest tank farms and a modern storage facility able to store 65 million litres of petroleum products. It wouldn’t be a lie to describe Oba Fredrick Enitolorunda Akinruntan, as a paragon of royal luxury.

King Obateru spends his money on a custom built 2012 Rolls Royce similar to that of Queen Elizabeth II and in 2014 he revealed that he has a $1 million watch. Obateru is believed to be the first black person to buy the 2014 model of Bentley automobile. He parades himself as the true number one king in Yorubaland and custodian of Yoruba culture and he's always ready to battle it out with whoever tries to contradict that claim. The monarch over the years, has lifted so many people from the gutter and given them fresh hope through his benevolence.

Here are other African Kings you would love to know how wealthy they are;

Mswati III

He is the current king of Eswatini (Swaziland), a country in Southern Africa. Forbes estimates that he has an estimated net worth of at least $200 million, which is said to come from investments. In the 2014 national budget, the country’s national assembly reportedly allocated $61 million for the King’s annual household budget. He owns several luxury cars, including a $500,000 Maybach.

In 2018, the 50-year-old monarch got a birthday gift for himself- a plane and airport worth $190 million. King Mswati III has been criticized for having an extravagant lifestyle while the rest of the country suffers.

Mohammed VI

This is the richest King in Africa. He is the reigning leader of Morocco (North Africa). He has an estimated net worth of $5.8 billion, according to Forbes. His wealth comes mostly from investments. He controls Moroccan investment holding company Societe Nationale d’Investissement, whose assets are estimated to be worth more than $10 billion. He also owns one of the world’s largest phosphate reserves and has investments in the financial, mining, telecommunications, and distribution sectors.

King Mohammed has a daily operating budget for his Palace, as reported by Forbes to be $960,000. He has also been spotted with a rare Patek Philippe watch worth $1.2 billion.