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Going by Forbes standing, the richest king in Nigeria is Oba Fredrick Obateru Akinruntan with net value of $300 million, he is a monarch in addition to a traditional pioneer. He is the leader of Ugbo Kingdom which is a small town in Ilaje Local Government area of Ondo State. He is also into oil exploration. He is the creator of Obat Oil that is among the biggest private held companies in Nigeria.



King Fredrick Obateru Akinruntan was born in the year 1950 to a wealthy royal family. His father was Sir Frederick Adetolugbo. He's a family of 8 children and he was the 4th child. Sir Frederick Adetolugbo died in 1964, while Fredrick Obateru Akinruntan was still 14 years old. Oba Fredrick Obateru Akinruntan already knew he'd eventually become the king of Ugbo Kingdom via a prophecy but he didn't take it seriously in the time. His younger brother was made Olugbo but this didn't last long as a law suit was filed against him that demanded he ought to be dethroned as the family had been in chair for too long. His brother lost the suit and Fredrick Obateru Akinruntan was made the next king going by the tradition of Ugbo Kingdom.

Going by the 2014 forbes ranking, his estimated net worth $300 million. He was rated as the 2nd wealthiest king in Africa following Mohammed VI of Morocco. He is also richer than the Ooni Of Ife and the King of Eswantini. He's got a great deal of custom built cars such as Rolls Royce that's the same for Queen Elizabeth II. Through an Interview, King Obateru Akinruntan stated he had a thousand dollar view and he uses exactly the same car like the queen of England. Obateru was among the first black man to buy the 2014 model of the Bentley car.

King Fredrick Obateru Akinruntan based Obat Oil in 1981 and now the comapny has more than 50 gas stations across Nigeria. Obat Oil owns one of the biggest tank farms in Africa which is a petroleum storage facility that's able to store more than 65 million gallons of petroleum products. Prince Akinfemiwa Akinrutan, his son, was made the managing director of Obat Oil.

For more details make sure you visit Richest King In Nigeria.