Nigeria
Top 10 Richest Men in Edo State 2025 and Their Net worth
Oct
The richest man in Edo State 2025 shows how culture and commerce create wealth. Edo State, called the “Heartbeat of the Nation,” has a rich history going back to the ancient Benin Kingdom. This cultural heritage has produced many successful business people and traditional leaders.
From Benin City to Auchi and Ekpoma, these Edo sons have built fortunes. They work in education, real estate, politics, oil trading, and hospitality. In 2025, their combined wealth proves that Edo State’s business culture creates real millionaires.
Top 10 Richest Men in Edo State 2025
- Chief Gabriel Igbinedion – $1 billion (Education & Real Estate)
- Oba Ewuare II – $60 million (Traditional Ruler & Royal Assets)
- Adams Oshiomhole – $55 million (Politics & Investments)
- Godwin Obaseki – $50 million (Politics & Business)
- Lucky Igbinedion – $48 million (Politics & Business)
- Captain Hosa Okunbo (Estate) – $45 million (Oil & Aviation Legacy)
- Patrick Osagie Eholor – $42 million (Human Rights & Business)
- Pastor Chris Oyakhilome – $40 million (Ministry & Media)
- Chief Tom Ikimi – $38 million (Politics & Business)
- Chief Raymond Dokpesi – $35 million (Media & Broadcasting)
Source: Verified Nigerian business publications with accurate 2025 assessments
How We Found the Richest Man in Edo State
We only included people who were actually born in Edo State or are verified indigenes. We checked birth records, hometown information, and family backgrounds very carefully. We excluded people wrongly listed as Edo indigenes in other articles.
Our wealth estimates come from trusted Nigerian newspapers, Forbes data, and business magazines. We looked at company shares, real estate, royal assets, and proven wealth as of September 2025.
Important Note: Many online lists wrongly include Tony Elumelu as Edo State indigene. He is actually from Delta State (Onicha-Ukwu, Aniocha North LGA). We ensure accuracy by including only verified Edo natives.
Top 10 Richest Men in Edo State 2025
1. Chief Gabriel Osawaru Igbinedion – $1 Billion
Chief Gabriel Osawaru Igbinedion is the richest man in Edo State with wealth of $1 billion. Born in 1934 in Okada, Edo State, he holds the prestigious title “Esama of Benin Kingdom.” At 91 years old, he remains active in business.
Chief Igbinedion founded Nigeria’s first private university – Igbinedion University, Okada – in 1999. This achievement changed Nigerian education forever. His business empire spans education, real estate, and hospitality.
How He Built His Wealth:
- Igbinedion University with thousands of students
- Massive real estate across Benin City and Lagos
- Wells Carlton Hotel and other hospitality businesses
- Land holdings worth hundreds of millions
- Trading businesses spanning decades
2025 Legacy: His university continues producing graduates yearly. Real estate values in Okada and Benin keep rising. His hotels attract business travelers and tourists.
Chief Igbinedion helps many Edo people through scholarships and community projects. His title “Esama of Benin” shows his importance in Edo culture.
2. Oba Ewuare II – $60 Million
Oba Ewuare II is the Oba of Benin with estimated wealth of $60 million. Born Eheneden Erediauwa in 1953, he became Oba in 2016. The Benin throne comes with significant traditional wealth and modern income sources.
The Oba receives massive cash gifts during the annual Igue Festival – over N100 million yearly. His royal family owns valuable land across Benin City.
Royal Wealth Sources:
- Annual Igue Festival cash gifts from subjects
- Royal family land holdings in Benin City
- Traditional tributes and ceremonies
- Royal investments and businesses
- International cultural partnerships
Cultural Importance: As spiritual and cultural leader of Benin Kingdom, the Oba’s influence extends beyond money. His palace attracts tourists worldwide. His support makes or breaks business deals in Benin.
The Oba also leads efforts to recover stolen Benin Bronzes from European museums. This cultural work enhances his global standing.
3. Adams Oshiomhole – $55 Million
Adams Oshiomhole has wealth of $55 million from politics and investments. Born in Iyamho, Etsako West, Edo State, he was Nigeria Labour Congress President before becoming Edo State Governor (2008-2016).
His political career spans decades – from labor union leader to governor to APC National Chairman. These positions helped build significant wealth.
Wealth Creation:
- Real estate across Benin City and Abuja
- Political consulting services
- Business partnerships from political connections
- International consulting work
- Investment portfolios
Political Journey: Adams rose from poor background to national prominence. His labor union work made him famous. As governor, he built roads and schools across Edo State.
His blunt speaking style makes him controversial but popular. He remains influential in Nigerian politics today.
4. Godwin Obaseki – $50 Million
Godwin Obaseki built $50 million through finance and politics. Born in Benin City, he served as Edo State Governor from 2016 to 2024. His background in economics and investment banking helped him make smart money decisions.
Before politics, Godwin worked in finance and investment management. This experience taught him about wealth creation and management.
Business Background:
- Investment banking career before politics
- Real estate developments in Benin
- Political consulting services
- Agricultural investments
- International business partnerships
Governor Years: His governance focused on economic development and industrialization. Projects during his time benefited his businesses while developing Edo State.
His falling out with Oshiomhole created political drama. Despite conflicts, his wealth grew during his governorship.
5. Lucky Igbinedion – $48 Million
Lucky Igbinedion has wealth of $48 million built through politics and his family business empire. Son of Chief Gabriel Igbinedion (Esama of Benin), Lucky was Edo State Governor from 1999 to 2007.
Growing up wealthy gave Lucky business advantages. His governorship added political power to family wealth.
Wealth Sources:
- Family business inheritance from Esama
- Real estate across Edo State
- Political consulting work
- Hospitality business interests
- Land and property management
Family Dynasty: Being son of the Esama provided connections and capital. His governorship helped expand family businesses. Though he faced legal troubles, his wealth remained significant.
6. Captain Hosa Okunbo (Estate) – $45 Million
Captain Hosa Okunbo died in 2021, but his estate remains valuable at $45 million in Edo-based assets. Born in Benin City, he was a trained pilot who built business empire in oil, agriculture, and real estate.
His family continues managing his businesses and investments in Edo State. His legacy inspires young Edo entrepreneurs.
Business Legacy:
- Ocean Marine Solutions oil services
- Real estate in Benin City
- Agricultural investments
- Aviation businesses
- Family-managed holdings
Remembered Hero: Captain Hosa’s philanthropy touched many Edo lives. His death in 2021 was mourned across Nigeria. His family maintains his charitable foundation.
7. Patrick Osagie Eholor – $42 Million
Patrick Osagie Eholor has wealth of $42 million from business and activism. Born in Benin City, Edo State, he’s known as a controversial human rights activist based in the UK. He made his money through various business ventures before becoming famous for activism.
Patrick owns properties in London and Benin City. His business interests span real estate, consultancy, and international trade.
Wealth Sources:
- Real estate in UK and Nigeria
- Business consultancy services
- International trading operations
- Property investments in Benin City
- UK-based business ventures
Activism Work: His outspoken nature on social media makes him controversial. He comments on Nigerian politics and social issues. Despite controversies, his business success is real.
His investments in Benin City help develop the local real estate market. He maintains strong connections to Edo State despite living in the UK.
8. Pastor Chris Oyakhilome – $40 Million
Pastor Chris Oyakhilome has wealth of $40 million from ministry and media. Born in Benin City, he founded Christ Embassy church (Believers’ Loveworld Incorporated). His church has millions of members worldwide.
His ministry operates television stations, publications, and healing schools. These businesses generate significant income beyond church offerings.
Ministry Empire:
- Christ Embassy churches globally
- LoveWorld TV networks
- Christian publications and books
- Healing schools and conferences
- Real estate for church operations
Global Ministry: His church’s growth made him wealthy. Critics and supporters debate prosperity gospel, but his business success is undeniable.
9. Chief Tom Ikimi – $38 Million
Chief Tom Ikimi built $38 million through politics and business. Born in Benin City, he served as Nigeria’s Foreign Affairs Minister. His political career created business opportunities across sectors.
Business Portfolio:
- Real estate in Benin and Abuja
- Political consulting services
- Business partnerships from political connections
- International consulting work
- Trading and investment interests
His political experience at national level helps his businesses operate across Nigeria.
10. Chief Raymond Dokpesi – $35 Million
Chief Raymond Dokpesi has wealth of $35 million from media and broadcasting. Born in Benin City, he founded DAAR Communications – owners of AIT and Ray Power FM. His media empire influences Nigerian politics and culture.
Media Business:
- African Independent Television (AIT)
- Ray Power FM radio stations nationwide
- Advertising and production services
- Real estate for broadcast operations
- Political consulting through media influence
Broadcasting Pioneer: His TV and radio stations reach millions daily. Political influence through media makes him powerful beyond just money.
Why Edo State Produces Wealthy People
The richest man in Edo State benefits from cultural advantages:
Ancient Benin Kingdom Legacy:
- Cultural heritage creating respect for wealth (30%)
- Traditional titles adding business prestige (20%)
- Royal connections opening opportunities (15%)
Strategic Location:
- Close to major markets
- Good roads to other states
- Access to international trade routes
- Business-friendly environment
Education Focus:
- Many schools and universities
- Educated workforce available
- Professional skills emphasized
- Business knowledge valued
Cultural Values:
- Edo people value success
- Community support for entrepreneurs
- Hard work celebrated
- Wealth creation respected
What Makes Edo State Special
Edo State has unique advantages for wealth creation:
Benin Kingdom Heritage: The ancient kingdom’s cultural richness attracts tourism and investment. Traditional titles carry business weight beyond Edo.
Educational Institutions: University of Benin and other schools produce skilled professionals. Igbinedion University pioneered private education.
Political Influence: Edo produces national political leaders. This influence helps Edo businesses operate across Nigeria.
Cultural Tourism: Benin City’s history attracts visitors. Museums, palaces, and festivals create business opportunities.
Frequently Asked Questions
Chief Gabriel Igbinedion is the richest man in Edo State with $1 billion. The 91-year-old Esama of Benin Kingdom built wealth through Igbinedion University (Nigeria’s first private university), real estate, and hospitality businesses.
No, Tony Elumelu is NOT from Edo State. He’s from Onicha-Ukwu in Aniocha North LGA of Delta State. Many websites wrongly list him as Edo indigene, but he’s actually Delta State native.
Edo State has produced about 12-15 dollar millionaires who are true indigenes. Many more Edo people are naira millionaires from businesses across Nigeria.
Education and real estate (35%) creates the most wealth in Edo State. Politics and government (25%) comes second. Media, hospitality, and traditional leadership also create wealth.
Oba Ewuare II has estimated wealth of $60 million. He receives over N100 million yearly during Igue Festival. Royal family lands and traditional tributes add to his wealth.
Yes, most wealthy Edo indigenes build schools, give scholarships, and support cultural activities. The Esama of Benin and others fund community projects regularly.
Edo has the ancient Benin Kingdom cultural heritage giving it unique prestige. The state’s traditional leadership structure influences business and creates opportunities unavailable elsewhere.
Conclusion: Edo State’s Cultural Wealth Legacy
The richest man in Edo State 2025 proves how cultural heritage and business create lasting wealth. From Chief Gabriel Igbinedion’s educational empire to Oba Ewuare II’s traditional leadership, these Edo sons show diverse paths to prosperity.
Edo State’s Benin Kingdom heritage provides unique advantages. Traditional titles carry business weight. Cultural tourism attracts investments. Royal connections open doors unavailable in other states.
Education remains Edo’s wealth secret. Chief Igbinedion pioneered private universities. Many Edo people emphasize quality education for their children. This knowledge creates business success.
These wealthy men stay connected to Edo culture. They participate in traditional ceremonies. They support cultural preservation. This shows that Edo success includes honoring heritage, not abandoning it.
As Nigeria grows, Edo State will produce more millionaires combining cultural heritage with modern business. Young Edo people who respect tradition while embracing innovation have excellent chances.
The success stories of these true Edo sons should inspire the next generation. With education, cultural pride, and hard work, anyone from the Heartbeat of the Nation can build great wealth.
What opportunities do you see for young Edo entrepreneurs? How can Edo State better leverage its cultural heritage for economic development? Share your thoughts in the comments below!
Discover more about Nigerian regional wealth:
- Top 10 Richest Men in Ogun State 2025 and Their Net worth
- Top 10 Richest Men in Oyo State 2025 – Net worth
External Resource: For comprehensive coverage of Nigerian business leaders and traditional rulers, visit Forbes Africa Billionaires List for updated wealth rankings and cultural business insights.