The founder of Eleganza Group, who transformed a trading business established in 1968 into a plastics and real estate powerhouse valued at $150-200 million, has nine wives and 26 children has stated that his empire would be transferred to his children with Shade after death.
He mentioned that he is training four of his children with his wife Shade, whom he married in 1999, by taking them to factories and Europe, highlighting that they are the future.
His statements have elicited mixed reactions on X with some users predicting family disputes similar to those in other Nigerian dynasties, while others criticized the older children from previous marriages for squandering opportunities on lavish lifestyles.
@Oliwa_square commented, “It’s quite irresponsible to disclose personal details about his will. He’s putting his younger children at risk by stating they will inherit his wealth. How do you think the older children will feel about this? It’s a poor choice, possibly indicating that old age is affecting his judgment.”
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@ayoabol remarked, “In a polygamous family, showing favoritism towards the younger children could breed resentment towards the younger wife and lead to conflicts among siblings. Despite the flaws of the older children, can none of them manage the company?”
@idrissensto expressed, “Razaq Okoya’s approach is both practical and insightful. By preparing his younger children to take over the family business, he highlights the significance of training, discipline, and hands-on experience over mere inheritance.
“This also emphasizes the challenges of succession in family businesses, where wealth alone doesn’t guarantee success; leadership skills must be cultivated.
“While some may view his comments about the older children as harsh, they reflect a desire to learn from past mistakes and ensure the next generation is ready to sustain and grow the business.
“It serves as a reminder that building an empire requires hard work, focus, and dedication—lessons that money cannot impart.”
@Tobasthethruth added, “The ‘seniors’ refer to Chief Razak Okoya’s older children from his previous marriages (he has over 20 children from 9 women, with the eldest around 60).
“He is preparing the younger ones with his current wife Shade Okoya to inherit and manage Eleganza, hoping they will succeed in the family business while the older siblings have chosen different paths or faced succession challenges.”
