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Billionaires - November 7, 2023

Bola Tinubu: How He Made His First Millions

The story of how Bola Tinubu made his first millions is a tale of foresight, financial acumen, and a keen understanding of the value of strategic professional choices. As he detailed in an interview with TheNews Magazine, his journey from an ambitious auditor to a millionaire is a blueprint of meticulous financial planning and opportunity maximisation.

Choice of Role with High Travel

At the outset, Tinubu made a calculated decision to take on a role at Deloitte and Touche that involved extensive travel. Over 80% of his time at the firm was spent on assignments that took him away from home, but crucially, allowed him to accumulate travel allowances. This decision was a cornerstone in his strategy on how he made his first millions, reflecting a willingness to trade personal comfort for financial gain.

Significant Bonus

The defining moment in Tinubu’s financial ascendance came through an assignment that took him to Saudi Arabia. Here, he was instrumental in establishing an accounting and auditing framework for a partnership between National Oil and Aramco. His exemplary performance on this project earned him a substantial reward – an $850,000 bonus before taxes. This sum marked a pivotal milestone in how Bola Tinubu made his first millions.

Salary Savings

However, the bonus was not his only source of wealth. Tinubu exercised remarkable restraint with his regular earnings, choosing not to spend his salary but instead allowing it to grow in his bank account. Over time, this accumulated to about $1.8 million, underscoring the disciplined approach that was integral to how he made his first millions.

Investment and Asset Acquisition

With his newfound wealth, Tinubu demonstrated his financial intelligence by investing in the United States’ real estate market. He purchased a house and wisely invested the remainder of his funds, actions that solidified the foundation of his financial empire and exemplified the judicious investment strategy that was part of how he made his first millions.

Financial Acumen

Throughout this narrative, what stands out is Tinubu’s strong grasp of financial matters. His ability to manage and grow his wealth is a testament to his knowledge and experience in financial affairs, which he applied with great effect to not only earn but also to multiply his earnings.

    In conclusion, the meticulous strategy and disciplined financial practices that Bola Tinubu employed were instrumental in his journey to amassing wealth. His story is not just about the end sum but about the methodical approach to wealth accumulation. It serves as an inspirational roadmap for aspiring individuals who aim to understand how Bola Tinubu made his first millions and seek to replicate such financial success in their own lives.

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