Billionaire businessman and philanthropist Tony Elumelu has attributed his success to a combination of hard work and luck, arguing that achievement is not always determined solely by intelligence, talent or effort.
The Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation made the remarks during a candid conversation with popular YouTuber Korty EO, where he reflected on the factors that shaped his rise from the banking sector to becoming one of Africa’s most influential business leaders.
Speaking about his journey, Elumelu acknowledged the years of dedication, discipline and persistence that defined his career but stressed that luck also played a significant role in his success.
“I am here because of luck. At times, you don’t get successful because you are the best in class or because you are the fittest or most energetic. Sometimes, you need luck and I am a product of luck,” he said.
The economist noted that while many people focus on hard work as the sole ingredient for success, there are often external circumstances and opportunities beyond an individual’s control that can influence outcomes.
Despite emphasizing the role of luck, Elumelu cautioned young entrepreneurs against abandoning hard work and perseverance, insisting that preparation and determination remain essential for anyone seeking success.
According to him, luck alone cannot sustain long-term achievement without the discipline and resilience required to take advantage of opportunities when they arise.
His comments have since generated widespread reactions on social media, with many Nigerians debating whether one of Africa’s most celebrated self-made billionaires was downplaying the decades of strategic decisions, risk-taking and dedication that built his business empire.
Others, however, interpreted his remarks as a reminder that success is often shaped by a combination of effort, timing, opportunity and circumstances beyond an individual’s control.
Elumelu is widely regarded as one of Africa’s leading entrepreneurs and advocates of Africapitalism, a philosophy that promotes private-sector investment as a catalyst for economic development across the continent.