Tony Elumelu's Wealth Surges by N684.6 Billion in Q3 2026
In the third quarter of 2026, Tony Elumelu experienced an estimated gain of N684.59 billion from the appreciation of his investments in Seplat Energy, United Bank for Africa (UBA), and Transnational Corporation Plc. The total value of these holdings rose from N1.74 trillion at the end of June to approximately N2.43 trillion by the end of September, marking a quarter-on-quarter increase of 39.3%.
Notably, Seplat Energy was the primary contributor, with an increase of N654.20 billion, representing about 95.6% of the total gain. UBA added N44.50 billion, while Transcorp's weaker performance reduced the overall gain by N14.11 billion.
The analysis was based on approximately 120.4 million shares of Seplat, 6.31 billion shares of UBA, and 3.14 billion shares of Transcorp, valued at their respective closing prices for Q2 and Q3. Seplat's shares surged by 40.8%, from N11,363.90 at the end of Q2 to N16,000.10 by the end of September.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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