T.Y. Danjuma worth $1.2bn – Bloomberg

TY Danjuma

Bloomberg has said that a former minister of defence, Theophilus Danjuma, is worth an estimated $1.2 billion, which is N432 billion in local currency.

In a latest report by the financial data media house, Danjuma, who was fingered in the Panama Papers in 2017 among Nigerians who operated foreign accounts and had foreign companies while holding public office, said the retired general had investments in the hospitality industry.

Bloomberg said Danjuma had also acquired the ‘Kings Arms Hotel’, a 300-year-old inn next to London’s Hampton Court Palace, once the home of King Henry VIII.

The hotel is expected to open soon with rooms costing about 250 pounds ($318) a night.

Danjuma’s second daughter, Hannatu Gentles, told Bloomberg in an interview that the family paid 2.4 million pounds (N1.09 billion) for the hotel.

She said the hotel would be renamed to have ‘Danjuma’ on it.

“This is the first, and will possibly be the last, listed building we’ve worked on. It’s taken longer than we wanted, but our name is attached to the building and we want to be proud of our work. It’s been a hard slog,” Gentles said.

“Beyond the UK, they own real estate in California and have bought and sold property in Singapore. Their family office also oversees private equity investments, trust funds and a venture capital arm that backs family-run art and film companies. The Danjumas own more than 30 properties worldwide, filings show,” the report said.

The 80-year-old was awarded an oil block in 1998 by former military dictator, Sani Abacha, which prompted his journey to extraordinary wealth.

The Danjuma family has developed residential properties in 2019 in Esher and Wimbledon, United Kingdom. They also own a boutique hotel in Lagos.