I control the majority of the world’s wealth, I’m mainly found in Russia and everyone just WISHES they were my kid. What am I? Yep. You guessed it. I’m an oil tycoon.
You don’t need a degree to be an oil baron, in fact, some of the most successful are college drop-outs or inherited their oil companies from their parents. What those at the top have in common, however, is ambition, drive, a savvy business sense and at times, very expensive tastes. Here are our top 5 oil tycoons.
The richest of them all, and one of the most famous surnames in the world. Born in 1839 John Davison Rockefeller, Sr. was a co-founder of the Standard Oil Company, which dominated the oil industry and domestic kerosene market. When he died, two months before his 98th birthday, Rockefeller’s net worth was $663.4 Billion. Making him the wealthiest oil tycoon ever. Standard Oil developed over 300 oil-based products including tar, paint, Vaseline petroleum jelly and chewing gum. Often under fire for his questionable business tactics, Rockefeller revolutionised the petroleum industry nonetheless.
2. The Koch Brothers
Charles and David Koch inherited Koch Industries from their father Fred, who founded the company in the 1940s. Koch Industries was named the second largest privately held company in the US last year, with an annual revenue of $115 billion. They bought out their other two brothers for $1.1 Billion which now puts their worth at a hefty $34 Billion each. Quite a sum and they like it that way.
3. Mukesh Ambani
India’s richest man, Mukesh, inherited his company, Reliance Industries from his father. He initially dropped out of college to help his father expand the growing company and expand it he sure did. His personal wealth comes in at $19.6 billion, not too shabby. He doesn’t own a massive yacht but he does live in a private 27-storey building in Mumbai. Does that count?
Mikhail is one of the younger oil tycoons on this rich list, coming in at a youthful 49. He founded Alfa Group in 1989. He’s now worth $17.6 Billion. He is a supporter and instigator of Jewish initiatives in Russia and Europe, in particular, the Genesis Philanthropy Group that promotes Jewish identity among Russian-speaking Jews worldwide. He also owns Alfa-Eco and Alfa-Bank.
5. Vagic Alekperov
This Russian businessman used to be Minister for Oil and Gas before the dissolution of the Soviet Union. The contacts no doubt came in handy in his during his subsequent rise to billionaire oil tycoon running LUKoil. In 2011 Forbes estimated his wealth at $13.9 billion.
Olatorera Consultancy Limited provides business development services to companies looking to grow, enter or do business in Africa. We also provide consultancy services to high net-worth individuals including politicians, business executives and aspirants