Many Nigerians regard him as one of the most influential and wealthiest figures in the country. The billionaire, who is of royal blood, has a business empire that cut across agriculture, real estate, oil, politics, and so much more to thank for the enviable financial status he has attained.
Beyond his business exploits, Nwoko is also an attorney and politician. He owns a law firm, which deals mostly in foreign finances. Also, notable for his polygamous nature and flamboyant lifestyle, Ned is a husband to the popular Nollywood actress Regina Daniels. All these and more, as you will see below, have made him a familiar name and face in almost all Nigerian tabloids.
A Look at How Ned Nwoko’s $1.2 Billion Net Worth Come About
Ned Nwoko is undoubtedly one of the wealthiest personalities in Nigeria, and he made his wealth through his various businesses within and outside the country. His businesses include tourism, agriculture, arts, and real estate investments. He is currently estimated to have a net worth of $1.2 billion, which is about N435 billion. Let’s look at different ways the billionaire has managed to increase his wealth over the years below.
His Legal Career/Law Firms
Ned’s growth in the Legal profession started when he was called to the bar at Lincoln’s Inn in England. Afterward, he worked as a solicitor at Crown Prosecution Service, one of the notable law firms in England and Wales. To build his resume and gain wider experience, Prince Ned also worked with other law firms, including Pascaldiers & Co. Solicitors and Kumars Solicitors, after spending a short time at Crown Prosecution Service. With an impressive resume, Prince Ned landed a job as a solicitor in the supreme court of England and Wales.
Over the course of his career in the United Kingdom, the billionaire businessman served as the secretary-general of the Nigerian legal practitioners in the United Kingdom. He also served as a visiting adviser to Citizen’s Bureau based in London. However, after many years of working with top organizations in the private and government sectors in the United Kingdom, Ned progressed to establish his own law firm named Ned Nwoko and Co. Solicitors London, United Kingdom. His firm specializes in managing and verifying foreign debt of third-world countries and their states and verifying and reconciling foreign loans for states.
While that was ongoing, Prince Ned also formed Linas International Limited in Nigeria, a law firm that also focuses on the verification and reconciliation of loans for states, especially the Paris and London Club loans. Ned investigated Nigeria’s multinational creditors through his firm and discovered some discrepancies and disagreements in loan repayment. This engineered the refunds of the first portion of the loan under the administration of former President Olusegun Obasanjo.
He went ahead to charge the federal government of Nigeria to court on behalf of all the local governments in the country to refund illegal deductions. However, judgment was passed in his favor, and the sum of $3.2 billion was made available to local governments. As a result, the billionaire was paid handsomely for his efforts. Nevertheless, the amount he was paid was never disclosed, albeit it contributed to the huge net worth Ned Nwoko enjoys today.
Ned Nwoko’s Political Career Also Contributed to His Net Worth
Ned’s career in politics started when he was in the UK. He was the Secretary-General of the Nigerian Legal practitioners in the United King. He returned to Nigeria in 1998 with a vision to contribute to the growth of the legal practice in Nigeria with his wealth of experience. However, during the 1999 election, he contested and won a seat in the Federal House of Representatives representing his constituency, Aniocha North-South, and Oshimili North-South, Delta State, in a one-term spell.
After his first term, which lasted from 1999 to 2003, and in a bid to continue in his political career, he contested for the gubernatorial seat of Delta State in 2012. However, he was defeated by Dr. Emmanuel Eweta Uduaghan. Then in 2019, he contested and reportedly won the senatorial seat of Delta North. Still, after going back and forth in the court, Peter Nwaoboshi was declared the rightful winner of the polls. Although the amount he made through his political career has not been revealed, he is believed to have made millions through salaries and other incentives.
He Owns One of the Best Tourist Centres in Asaba, Delta State
Billionaire Ned founded a tourist site of an international standard known as Mount Delta or Mount Ned Nwoko Resort, which attracts tourists worldwide. The resort is one of the 21 tourism sites approved by the Delta State Government. He acquired the land in 1999, and it took him 12 years to complete the befitting resort. Located in Idumuje Ugboko, Aniocha North Local Government Area of Delta State, Mount Delta stands at about 1000 feet above sea level, making it the highest point in Delta State.
This magnificent tourist attraction is one of Ned Nwoko’s major income sources. It has three sections: a museum, the animal kingdom that consists of a zoo, poultry book, and fishponds, and peaceful parks. It also has a golf course. Other popular artifacts found there include the great seven kings, seven tombs, and the seven streams that converged in the village and head towards the great River Niger.
At the back of the main castle, you’d find land with dozens of palm trees and the poultry farm, which has over 5000 chickens. More than that, you will also find an Olympic size swimming pool, standard table tennis, and a lawn tennis court. Additionally, it has a nine-hole golf course, which is one of the best sports facilities in the resort. The resort, which is estimated to be worth N10 billion, welcomes several visitors from different parts of the country and beyond all year round.
Ned Nwoko’s Net Worth in Comparison with that of Terry Waya
Terry Waya is another famous Nigerian Billionaire businessman based in London. He’s from the Tiv tribe in the middle belt region of Benue State. He shares a similar social status with Ned Nwoko and is popular for his habit of partying, flaunting his luxurious lifestyle, and associating with rich politicians in Nigeria. Terry Waya, also known as Mr. Versace, has a net worth of $865 million, which he made through his various stints in real estate, agriculture, Transcorp Hilton construction, and politics. He also played a significant role in Banana Island Construction in Lagos State.
Comparing Ned Nwoko’s net worth with that of Terry Waya, it is obvious that Ned’s $1.2 billion net worth outweighs Terry Waya’s $865 million net worth. Nevertheless, both men are incredibly successful in their respective careers. Beyond their careers, while Prince Ned has not been involved in any shady deal and money laundering allegation, the same can’t be said of Terry Waya, who was previous accused of being involved in money laundering and was arrested in 2005. However, he was later released.
When it comes to their assets, both men have several assets in different parts of the country and outside the country. While some of these assets are not open to their media, a few that are known and the fleet of exotic cars they drive show that these men really have a high taste for luxury and extravagant lifestyles. Both men are highly revered for their philanthropic activities as a way of giving back to society. Even though we have established that Ned is richer than Terry, they rank among Nigeria’s richest and prominent personalities.
Inside Ned’s Extravagant and Controversial Life
Despite marrying six wives, Prince Ned Nwoko knows how to enjoy his wealth, and his flamboyant lifestyle is a testament to this fact. Let’s look at how the billionaire spends his wealth below.
Ned Nwoko Has Several Mansions in Nigeria and Abroad
While the exact number of houses he owns is currently unavailable, his most popular mansion is Mount Delta, a castle and resort in his hometown Idumuje-Igboko Delta State. The mansion, which is usually called a “Castle in the Air,” set him back N10 billion for its construction. It has many facilities, including a Zoo, aquarium, poultry, golf course, Olympic size swimming pool, farm, and much more.
Beyond that, the billionaire has several mansions in other parts of Nigeria and other countries like France, the United Kingdom, and the United States of America. Although Prince Ned doesn’t show off his mansions on social media, we know he has houses in Lagos and Abuja. More so, his six wives live in different mansions, which he bought for them. Aside from Mount Delta, the features of his other mansions are unknown.
His Garage Has Many Luxury Cars
The billionaire businessman has a high taste for luxury cars, and it is even difficult to know the exact number of cars he owns. While he is not someone who shows off his wealth on social media, we know he enjoys giving his wives a ride. However, in 2019, he was spotted with his sixth wife, Regina Daniels, and her friends while taking them for a spin in his latest Rolls Royce. The posh car was said to have cost him a whopping #172,903,500.
He Owns a Private Jet
Ned shows off his lifestyle in an expensive way. He’s among the few Nigerians that boast of Private jets. In June 2020, information was rife that the Aniocha billionaire acquired a brand new private jet. The aircraft called Falcon 7x was all over the internet alongside pictures of Ned and his family aboard. The jet, which he acquired at the cost of $54 Million (N20,774,420,000), was manufactured by Dassault Falcon Line. It has a coverage range of about 5950 nautical miles, which is about 11,020 kilometers.
The Billionaire Gives Back to Society Via Philanthropy
Another thing Ned is popular for is charity and philanthropy in the exercise of his deep love for humanity. He launched a global campaign for Malaria eradication that made him the first black man to visit south pole Antarctica in 2020.
The campaign was flagged off in an expedition to the Antarctic region of the earth. Still, in a fight against malaria, he invested heavily in establishing Ned Nwoko Malaria Eradication Foundation. The foundation caters to Malaria prevention and treatment among the less privileged in the society. Through the establishment, Prince Ned has also donated funds to support UNESCO for sports developments in Africa. As a national builder, he has helped the Nigerian Government with road projects. Furthermore, Ned has played a significant role in empowering Delta youths through education and job creation.
Ned Nwoko Completed His Education in London, United Kingdom
Prince Ned completed his primary and elementary studies in Delta State. Before the inception of his legal career, the billionaire graduated from a school in London. He attended the University of Keele, Staffordshire, London, where he obtained a degree in history and law. Thereafter, he proceeded to King’s College London, where he got his LLM degree in Maritime and Commercial Law.
Ned Nwoko has equally received honorary degrees from notable universities both at home and abroad. He was honored with an Honorary Doctorate at the Commonwealth University College in Belize. Nwoko also got another Honorary Doctorate in Science from the Federal University of Petroleum Resources Effurun, FUPRE, Delta State.
Ned Nwoko’s Awards and Recognition
Through his various endeavors as a businessman and philanthropist, Ned Nwoko has been highly revered for his flare for economic development and youth empowerment, among other things. He has received numerous awards and recognition for his efforts.