I Didn’t Become Chairman Of UBA, Transcorp Because Of A Wealthy Background —Tony Elumelu

The billionaire owner and Chairman of Heirs Holdings PLC, Tony Elumelu, has said that he did not become successful because he had rich parents.

Elumelu said this while sharing his success story with teens at the Redeemed Christian Church of God Worldwide TEAP Zone Teens Career Conference.

In a series of tweets seen by THE WHISTLER on Sunday, Elumelu said it took him hard work, discipline, and sacrifice to become a successful business mogul.

Elumelu said, “I didn’t become the Chairman of UBA Group and Transcorp Group because I had wealthy parents or I went to the best schools, or because I was the most intelligent in my state or country. Your circumstances today must not define your future.

“Embrace hard work, discipline and sacrifice: I realized growing up that the way to get to the top is to go the extra mile. Tell yourself that there is no other way to get there if you don’t work hard. Have the discipline to say no to things that don’t serve you, and sacrifice now for future rewards. If you work hard, and are disciplined, you will get what you desire in life.

“Be yourself – This was an advice I gave to Oge when she resumed at London School of Economics. There are so many distractions and influences in the world we live in. Overtime, people start to doubt their identity and act in a manner that is alien to them. Don’t go against your values because you want to be perceived as “sociable. Anyone who doesn’t accept you the way you are, should leave.

“Relationships between parents and children: Have a healthy relationship with your parents. Parents correct, they nurture, they teach in different ways and styles – all done out of love and most importantly, to help create a better society for all. To parents, be flexible. Create the opportunity for dialogue with your kids and allow them to share their point of view. We must learn from each other.”

Elumelu controls UBA which has a market capitalization of N506.15bn. The billionaire through his vehicle HH Capital controls indirect holdings of 2,275,272,404 units of shares of UBA while his direct holdings are 194,669,555 units of shares.

He founded Heirs Holdings in 2010 and in 2021, he was officially handed the Certificate of Discharge of the iconic Transcorp Plc.

Transnational Corporation (Transcorp) Plc has grown to a N148.8bn company by market capitalization based on data from the Nigerian Exchange Ltd.

A consortium led by Transcorp Group acquired 60 per cent of the Abuja Electricity Distribution Company.

Transcorp Group’s market capitalization is currently more than N540bn.