Description
The Changing Nature of Wealth
The richest men in the world used to be those who owned steel mills, oil wells, large real estate or
such gigantic assets. The sources of their wealth were very visible ‐ the heavy plants and
machinery, trucks, ocean going vessels or large expanse of land that generated the income. In the
United States of America, wealth was associated with the likes of Andrew Carnegie1
, founder of
the conglomerate, US Steel Corporation and author of the book, The Gospel of Wealth. In Nigeria,
it was probably not possible to think of wealth without thinking of men like Chief Augustine Ilodibe
and his ubiquitous Ekene Dili Chukwu buses and trucks, Chief Gabriel Igbinedion and his Okada Air
or the Dantata family with their large land holdings, construction equipment and huge trucks. In
the recent past however, such names as those of the late Moshood Abiola, Aliko Dangote,
Emmanuel Iwuanyanwu, Sonny Odogwu, Mike Adenuga, the Ibrus, Jimoh Ibrahim, Femi Otedola,
Jim Ovia, etc have been linked with wealth. In each of these cases, there are very visible and
tangible assets that can be said to be generating the income.
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