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Wednesday, 26 November 2014

Nigeria's Youngest Billionaire


Ladi Delano, aged 30, Founder and CEO, Bakrie Delano Africa. The jet-setting Nigerian serial entrepreneur made his first millions as a liquor entrepreneurwhile living in China. In 2004, at age 22, he founded Solidarnosc Asia,a Chinese alcoholic beverage company that made Solid XS, a premium brand of vodka.

Solid XS went on to achieve over 50% market share in China and was distributed across over 30 cities in China, and pulled in $20 million in annual revenue.

Delano subsequently sold the company to a rival liquor company for over $15 million and ploughed his funds into his next venture-The Delano Reid Group, areal estate investment holding company focused on mainland China. Today, Delano is the co-founder and Chief Executive Officer of Bakrie Delano Africa (BDA) – a $1 billion joint venture with the $15 billion (market cap) Bakrie Group of Indonesia.
Bakrie Delano Africa serves as the investment partner of the Bakrie Group in Nigeria. The Indonesian conglomerate has provided over $900 million worth of funds to invest in Nigeria and Bakrie Delano Africa is responsible for identifying investment opportunities in mining, agriculture and oil & gas and executing them.


Culled from Gistmania.