Popular Billionaire, Bolu Akin – Olugbade is dead. News surrounding his death has not been made public, but there are indications that he died of COVID-19.
During his lifetime, the socialite made news headlines for his many nuggets on financial literacy. His love for Rolls Royce as a special brand of cars reflects in the way he bought the car in many sequence editions.
Two years ago, on 2nd April, 2019, Dr. (Prince) Bolu Akin-Olugbade, the Aare Ona Kakanfo of Owu Kingdom clocked 63. And he marked it in his mouth-watering Los Angels home. His recently acquired brand new Rolls Royce Jeep called The Cullinan, was his 63rd birthday gift to himself and the number plate is BOLU 10.
As of that time, he had 10 Rolls Royce Limousines in his exotic garage.
Aare Bolu Akin-Olugbade was a Rolls Royce freak. He loved Rolls Royce Limousines a lot and he had been driving Rolls Royce since age 21. And let’s quickly tell you that all the cars he had bought over the last 10 years have been Rolls Royce. So in love is the Oil & Gas magnate that he had Rolls Royce limousines in his homes all over the world in LA, New York and Dubai. At the last count, he owned about 10 Roll Royce limousines.
Only very few Nigerians can afford the Rolls Royce. You must be worth at least £25m, an equivalent of a networth of $33m. City People can confirm that Aare Bolu’s and Rolls Royce, is the 1st to be produced for Africa and the production was completed at the RR factory in Nov. 2018. All brand new RR cars meant for Nigeria must be ordered through Coscharis and the RR dealers are forbidden from selling a brand new RR car for Nigeria. Further, such a new car that is ordered through Coscharis will not have the 4 year RR warranty
Billionaire businessman, Prince Bolu Akin-Olugbade, once told City People that he got his 1st Rolls Royce in 1984. His name is synonymous to Luxury. This is because when you hear his name, the first thing that comes to your mind is his penchant for Luxury cars, like Rolls Royce.
Known for his high taste and Fashion sense, Prince Akin Olugbade has about 5 Rolls Royce which has his customised plate numbers like “BOLU 1, 2, 3, 4, 5…” A great businessman with diverse business interests spanning across Law, Oil & Gas, Property development, Construction, Manufacturing, logistics and many others, Prince Bolu Akin-Olugbade usually caused a stir when he drives into an event in any of his fleet of Rolls Royce cars.
Would he say be been born into the prominent Akin-Olugbade family influenced his Life in a way? “Yes. I knew what I wanted so early in Life. Yes, I was born into the prominent Akin-Olugbade Family in Abeokuta. But despite this, I knew what I wanted and I wanted to also build a name for myself aside the fact that I came from a silver spoon home“‘
This man who had a Knack for good automobiles after much insistence revealed how he fell in love with luxury brand automobiles which has since become his best pet..“People like asking me about my love for Roll Royce And I think it has being over flogged. I run a successful business empire and I am into lots of things. Permit me to say with sense of modesty that I have being driving Rolls Royce for as long as I can remember. I started driving Royce in 1984 which was about 31years ago“ he revealed.
Apart from his love for luxury automobiles, he also loved wrist watches He had many collection of. He is a collector most exotic pieces. He once revealed “There is a Yoruba proverb that says that if you want to eat frog, eat the one that has egg, so If I am going for a car for instance why not buy the best”.
This does not mean that the business mogul is not prudent in spending. He’s was well calculated in his financial dealing, and he once advised on financial literacy.
He wrote:
Some people asked me because I have always said that Cash is King, for my advice on how to make Cash as King in their lives. Above is my response.
Whatever money you make or receive, spend 25% on savings, spend 50% on yourself, your wife, and your children, taking care of needs and some wants, spend the remaining 25% on investments in business that you like for a second cash income or on a property for a second cash income or on the stock market for a second dividend cash income.
Under no circumstances should you spend the 25% that you are saving and you should not touch the interest on the savings, but leave them in the savings account for cumulative interest.
The money in your savings account will be your money to be spending as your pension when you retire at either 65 years or 70 years. If you do not live to 65 years, then the accumulated cash in the savings account will be useful to your wife and children after your death.
Aare (Dr.) Prince Bolu Akin-Olugbade completed his multi-billion Naira 3 Storey Aare Onakakanfo Luxurious Palace in Abeokuta before his death.
The 3 storey Aare Onakakanfo Palace in Abeokuta is situated on an acre of land near the Ogun River. The Palace has 11 Ensuite Bedrooms,14 Chandeliers, with a very big one outside the house, 4 sitting rooms, one dining room, one TV/Movie theatre room, and an Amphitheatre that has the roof reinforced for use as a helicopter landing pad. The Palace also has 5 Ensuite Bedrooms in the Boys Quarters.
The inside of the house is luxuriously furnished and looks like the inside of Buckingham Palace. The Palace is one of the most beautiful and luxurious houses in Nigeria.
Aare Bolu, who spent most of each year in his house in Beverly Hills in Los Angeles, quietly moved into his Palace on 29th May 2019, when he came to Abeokuta for the Inauguration of Prince Dapo Abiodun, who is his friend and neighbour in a street called Millionaires Close in St.John’s Wood in London.
Bolu Akin-Olugabde also pioneered many charity movements and projects behind the camera and has helped many to stand on their feet and get a career for themselves.
He will be sorely missed
