Folorunsho Alakija Makes Forbes List Of 100 Most Powerful Women 2016

Oil Magnate & Pastor Folorunsho Alakija has made it on to Forbes Magazine list of 100 Most Powerful Women of 2016.

Folorunsho Alakija’s Real Net Worth as of June 6, 2016 is $1.72 billion. The 66-year-old married mother of four is the vice chair of Famfa Oil, a Nigerian oil exploration company that has a 60% participating interest in block OML 127, part of the larger Agbami field, one of Nigeria’s largest deepwater discoveries, about 70 miles offshore. It partners include Chevron and Petrobras.

Her first company was a fashion label that catered to Nigeria’s elite women, including the wife of former military president, Ibrahim Babangida, who awarded Alakija’s company an oil prospecting license. Alakija’s net worth has fallen in the past year as a result of lower oil prices.

German Chancellor Angela Merkel topped the list again this year, as she “guided her country through a recession with stimulus packages and subsidies for companies, with Germany entering 2016 with a budget surplus of 12.1 billion euros (S$18.6 billion) and an AAA rating from credit rating agencies”, Forbes said.

US White House hopeful Hillary Clinton came in second, also steady in her ranking, and has a clear shot at the number one spot if she wins the Presidential election, Forbes said.

US Fed Reserve Chair Janet Yellen, philanthropist Melinda Gates and General Motors CEO Mary Barra rounded off the top five.

Other notable faces on the list included IMF chief Christine Lagarde (No. 6), Facebook COO Sheryl Sandberg (No. 7), Entreprenuer/Actress Oprah Winfrey (No. 21), Fashion guru and longtime Vogue editor Anna Wintour (No. 28), World Health Organisation director-general Margaret Chan (No. 38) and China’s first lady Peng Liyuan (No. 58).