The persistent economic crisis that has impoverished millions of Nigerians has had no effect on Seyi Tinubu, the son of President Bola Tinubu, as he continued his opulent lifestyle and love for luxury wristwatches.
In early 2022, tongues wagged on social media over Seyi Tinubu’s acquisition of a luxury timepiece, a Richard Mille RM 055 watch worth $550,000 or ₦825 million at ₦1,500 to a dollar. Pictures from his social media handles showed that the young Tinubu owns not less than three Richard Mille wristwatches, amounting to billions of naira.
The watch was part of the custom series on sale in the name of professional golfer and Masters giant Bubba Watson.
Nigerian Afrobeat star, Damini Ebunoluwa Ogulu, popularly known as Burna Boy, said in his rap track ‘Big 7′ on his most recent eponymous album, “I really, really spent a milli’ on just two Richard Milles And I wear ’em willy-nilly through the city, ayy”
Seyi Tinubu’s many Richard Mille wristwatches have elicited reactions on social media.
“I don’t know why you people are writing the price of this wristwatch in dollars. This wristwatch costs at least N346 million.
As you can see from these 3 pictures, these are 3 different Richard Mille watches. At least over a billion Naira on his wrist in just 3 pictures,” an X user, Kweku the hustler, said.
Another X user, Chibyke Silvester, said, “Wealth without enterprise. If the guy just from 3 pictures we can see items worth up to a billion, this is someone without any known source of income. Then imagine what his father would have stolen.”
Vince Onyekwelu said, “After all these years of financial management trainings, some black men, still has serious issues of buying overtly expensive time keepers. Is he as rich as Ronaldo, Nadal, Messi, Beckham, Zuckerberg, Elon Musk etc.”
A few months ago, the president’s son was roundly criticised for flying a presidential jet to watch a polo match in Kano while many Nigerians struggled to feed.
But who is Seyi Tinubu and what does he do for a living?
Who is Seyi Tinubu?
Seyi Tinubu is the son of President Bola Tinubu and Prophetess Sola Bunmi Oshonaike.
He is a lawyer trained in the US and has now become a juggernaut in his own right in the advertising industry.
Education
He received a Bachelor of Laws (LLB) degree from the University of Buckingham, United Kingdom, in 2011 and became a member of the Nigerian Bar Association in 2013.
Networth and businesses
Seyi Tinubu is reported to be worth $1.5 million.
The young Tinubu is the CEO of Loatsad Promomedia Ltd., an outdoor advertising company that counts some of Nigeria’s leading blue-chip and multinational companies as one of its clients. It’s reported that Tinubu is highly sought after for developing tailor-made solutions for successful brands because of his sound legal experience and approach to international business transactions.
Since opening Loatsad Promomedia years ago, Tinubu has overseen over 1,000 completed advertising transactions for the firm, representing billions in transaction value. And he also enjoys patronage from state actors due to his father’s political connections.
Seyi was at the helm of the company’s merger with Promomedia in 2016, which saw the company open up its portfolio of services by incorporating digital advertising. Loatsad Promomedia has since taken strides in defining its position in the out-of-home advertising sector, one of which is its acquisition of E-motion Advertising Ltd., a leading advertising firm.
In 2019, Tinubu acquired major stakes in E-Motion Advertising, an advertising firm that runs Out-Of-Home advertising, including billboards, transit, and street furniture, from its founder, Sim Shagaya. Though the financial details of the acquisition weren’t made public, Tinubu was reported to have majority stakes, however, Shagaya, at the time, remained the company’s director.
His company is the first to introduce 3d advertising to the Nigerian advertising industry. Which is situated at Falomo Bridge.
Seyi Tinubu admitted that his company, Loatsad Promo Media Limited, which is the operator of the billboard at the Lekki Toll Plaza in Lagos, switched off the lights at the scene of the shooting of innocent and unarmed protesters by soldiers during the Tuesday night October massacre in 2020.
In February 2021, The People Gazette published bank documents highlighting Seyi Tinubu’s exploits in Lagos’ advertising market, alongside his father’s ex-aide-turned-sports minister, Sunday Dare.
Seattle Residence Lagos, a luxury real estate firm, is not reported to be one of those luxury real estate firms but is one of the few firms Tinubu follows on Instagram. Despite having dominated the advertising industry in recent times, Tinubu is making waves in real estate.
It’s reported that the main thrust of Seyi Tinubu’s business persona has been real estate. It’s also reported that he has taken admirable steps towards popularising luxury buildings in different parts of Lagos. Old Ikoyi, for example, has the highest number of luxury apartments and Seyi has long picked up interest in property businesses.
Seyi Tinubu is reported to have proficiently taken charge of services that border on telecommunications, energy, banking and finance, food and beverage, pharmaceuticals, and education.
Seyi Tinubu spends his free time playing professional jockey at the Lagos Polo Club for the STL Polo Club. STL is a polo team based in Lagos, with Tinubu as its patron. The team has won championships such as the Captain’s Cup in 2021, the Lown Cup, and the Governor’s Cup in 2022.
On his social media handle, apart from pictures of him at his Lagos office or at his STL Polo club, Seyi loves to be at important gatherings and is more often seen with the likes of the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi. He is also seen with the likes of high-class socialites in Lagos.
– BusinessDay
