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.