By Oluwayeni Odifa
The Yorùbá proudly embrace “ogo Adulawo” meaning “the pride of the Black race.” This embodies a long-standing reality: the Yoruba people consistently rank among the most accomplished and prosperous Black ethnic groups globally. Indeed, evidence strongly suggests Yoruba is the wealthiest ethnicity in Africa and unarguably the richest Black African ethnicity. Their achievements are so vast that a complete list within a single article is impossible, a true testament to their unending legacy.
Historical Roots of Yorùbá Prosperity
A cultural ideology rooted in intelligence, discipline, and enterprise underpins this enduring legacy. This historically fueled powerful political and commercial civilizations. The Yorùbá built sophisticated empires like Ifè, Ijebu, and Owo, alongside the famed Òyó Empire, one of West Africa’s largest and most influential pre-colonial powers.
Ancient centers like Ile-Ife, revered as the cradle of Yorùbá civilization, were bustling economic hubs. The Òyó Empire, at its peak, was notable for its formidable cavalry and immense wealth from extensive trade networks, including trans-Saharan routes.The Benin Kingdom traces its origin to Prince Oranmiyan, a Yorùbá royal who founded its ruling dynasty. This deep history of governance, trade, and craftsmanship evolved into a contemporary spirit of innovation and business acumen, laying the groundwork for Yorùbá wealth today.
Modern Economic Powerhouses
Today, the Yorùbá, primarily native to Yorùbáland (Nigeria, Benin, Togo), dominate diverse sectors, from traditional trades to global tech and finance. Their influence centers in thriving urban hubs like Lagos, West Africa’s economic nerve center; Ibadan, a significant commercial hub; Abeokuta, noted for industry and agriculture; and Ijebu-Ode, a vibrant commercial city. Key cities like Akure, Osogbo, and Ilorin are also significant economic and cultural anchors.
Their emphasis on education, strategic thinking, and ambition fuels creative and business excellence. Yorùbá drive shapes Africa’s prominent startups and institutions, including Chowdeck, Flutterwave (co-founded by Olugbenga Agboola, a multi-billion-dollar fintech unicorn), and Calendly (founded by Tope Awotona). Notable tech ventures include Paystack (co-founded by Shola Akinlade and Ezra Olubi, acquired by Stripe for over $200 million).
Beyond tech, Yorùbá pioneers like Otunba Subomi Balogun (founder of FCMB), the Yorùbá founders of GTBank ; Tajudeen Afolabi Adeola and Olutayo Tayo Aderinokun amongst other great Yorùbá names in the banking sector, significantly shaped the financial landscape. In real estate and industrial development are many Yoruba names, including entrepreneurs like Sujimoto Group’s Sijibomi Ogundele transform urban Nigeria with luxury developments, and major players continue to lead manufacturing and various industries, driving significant economic growth and confirming Yorùbá as the richest Nigerian ethnicity.
Billionaires and Business Moguls
The Yorùbá have produced some of Africa’s wealthiest individuals and global Black elite. These include telecom and oil magnate Mike Adenuga, investor and entrepreneur Femi Otedola, and Tope Awotona, the visionary founder of Calendly. These individuals, including Adebayo Ogunlesi, chairman of Global Infrastructure Partners, are confirmed dollar billionaires, highlighting a strong Yorùbá tradition of generational wealth building.
Folorunsho Alakija remains Africa’s wealthiest woman, attesting to Yorùbá women’s significant participation in elite entrepreneurship. Families like the Okoyas (Eleganza Group) and industrialists like Bola Shagaya (Bolmus Group International) underscore Yorùbá business success across manufacturing, oil, and trading, reinforcing their position as a leading African ethnicity in wealth.
Intellectual and Cultural Leadership
Beyond wealth, Yorùbá lead intellectual and cultural production. Wole Soyinka, the first Black Nobel Laureate in Literature, is Yorùbá. His contemporaries like Professor Pius Adesanmi and Lola Shoneyin contributed significantly to literature and global discourse.
Education, a cornerstone of Yorùbá culture, results in high literacy rates and a strong global presence in academia, science, and medicine. A remarkable example in medicine is Dr. Oluyinka Olutoye, the renowned Nigerian-American fetal surgeon who gained international acclaim for successfully performing life-saving surgery on a 23-week-old fetus outside the womb and returning it to the mother’s uterus for a healthy birth. This pioneering feat underscores the profound impact of Yorùbá professionals pushing global healthcare boundaries.
In the diaspora, Yorùbá spirituality, language, and traditions survived slavery, forming the basis of religions like Candomblé, Santería, and other Yorùbá faiths in Brazil, Cuba, Trinidad, amongst others. This is not just survival; it is resilience, profound cultural power.
Dominance in Arts and Entertainment
In entertainment, Afrobeats, as we know it, stems from the Yorùbá foundation laid by Fela Kuti. Global stars like Wizkid, Tiwa Savage, Tems, Ayra Starr, Burna Boy (through his Yorùbá maternal roots), Fireboy DML, and others push that legacy, weaving Yoruba lyrics, rhythms, and pride into their universally acclaimed music. Yoruba language’s dominance means non-Yoruba musicians frequently incorporate its phrases, showcasing its pervasive influence across African music.
Yorùbá also dominates Nollywood, Nigeria’s prolific film industry. Yorùbá theater practitioners pioneered Nigerian cinema, laying Nollywood’s groundwork. Figures like Hubert Ogunde, Moses Olaiya (Baba Sala), Adeyemi Afolayan (Ade Love), and Ola Balogun transitioned their successful traveling theater troupes to screen, birthing indigenous filmmaking. Yorùbá-language movies continue to thrive, consistently delivering box office and critical successes, showcasing rich storytelling and cultural depth.
Creative excellence extends to global fashion, with designers like Deola Sagoe, Alonuko (led by Gbemi Okunlola), and Emagine by Bukola making significant international impact. Culinary arts also showcase success, with online chefs like Sisi Yemmie (Yemisi Odusanya), Sisi Jemimah, and Diary of a Kitchen Lover (Tolani Tayo-Osikoya) leveraging digital platforms to commercialize their rich heritage.
A standout example is Amoke Oge, the first female-led food business on Chowdeck to reach half a million deliveries and achieve N2.3 billion in revenue, demonstrating immense potential in leveraging technology for traditional businesses.
Political and Athletic Prowess
Beyond economic and cultural influence, the Yorùbá are consistently vocal in politics and activism. From Obafemi Awolowo’s visionary push for free education and federalism, to Funmilayo Ransome-Kuti’s groundbreaking feminist and anti-colonial activism, Yorùbá voices profoundly shaped Nigeria’s political and social progress.
Post-independence, figures like Chief Moshood Abiola, a prominent businessman whose presidential mandate was controversially annulled, and President Bola Ahmed Tinubu, a former Lagos State Governor who now leads the nation, exemplify Yoruba presence at the pinnacle of Nigerian governance. Other key political leaders include Lateef Jakande, who transformed Lagos as governor, and Wally Adeyemo, Deputy Treasury Secretary in the United States, demonstrating global political influence.
In sports, numerous successful Nigerian athletes of Yorùbá descent achieve significant financial success. Football legends like Segun Odegbami and Obafemi Martins made their mark internationally. In track and field, Olympic medalists and world champions like Falilat Ogunkoya-Osheku and Tobi Amusan brought global recognition. Boxing champions like Anthony Joshua and basketball stars like Hakeem Olajuwon showcase the diverse athletic talents within the Yorùbá community. Their achievements solidify the widespread impact of Yorùbá individuals across various fields, cementing their place among the richest Black Africans in sports.
A Culture of Principled Success
This culture encourages not just wealth, but principled wealth. The Yoruba ethos upholds hard work, frowns upon idleness, and emphasizes “clean money” earned through sustained effort and consistency. Rather than romanticize struggle or victimhood, Yoruba society esteems those who patiently work their way up. The belief is guided by Ori, the belief in one’s divine head or destiny.
This metaphysical conviction, combined with unrelenting drive, empowers omo Yorùbá — Yorùbá children — to break barriers and set standards wherever they find themselves. Many wealthy Yorùbá also engage in significant philanthropy, establishing foundations focusing on education, health, and community development, reinforcing their commitment to communal progress.
Global Impact and Unending Achievement
From Lagos to Atlanta, from bustling marketplaces to global boardrooms, the Yorùbá presence is noticeable and commanding. A people of profound legacy and relentless progress, the Yoruba continue to embody the very excellence they proclaim. Demonstrating success in endless fields and countless innovative ways across Africa, the Black world, and indeed, the global stage.
