<Tr> <Th> Father </Th> <Td> Sir Frederick </Td> </Tr> <P> Fredrick Obateru Akinruntan (born 1950) is a Nigerian monarch, the traditional ruler of Ugbo Kingdom, a town in Ilaje Local Government, Ondo State, southwestern Nigeria . He is an oil magnate and founder of Obat Oil, one of Nigeria's largest and leading privately held oil companies . </P> <P> In March 2014 Forbes estimated his net worth as US $300 million . Obateru is ranked by Forbes magazine as the second richest King in Africa and the richest in Nigeria . He surpassed King Olubuse II, the Ooni of Ife, with $225 million and the Swaziland King Mswati III by over $200 million to become Africa's second richest king in 2014 behind Mohammed VI of Morocco . He has a custom built 2012 Rolls Royce similar to that of Queen Elizabeth II and on January 14, 2014, in an interview with Daily Post, he said "I have a $1 million watch, I use the same type of car like the Queen of England". </P> <P> Obateru is the first black person to buy the 2014 model of Bentley automobile . On July 2013, in an interview with The Sun, Obateru said: "The first time I saw a car was 1961 in Sapele . At that time, Sir Festus Okotie - Eboh had a hotel in Sapele, Waterside Hotel . It was the first time I saw a hotel in my life . We used to describe hotels as bars . That was the first time I knew the difference between a hotel and a bar ." </P>

The name of the richest king in nigeria
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