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Who Is The First Nigerian Internet Millionaire?

Who is the first Nigerian Internet millionaire in USD?

Please, not in naira.

I mean made from the Internet like Google, YouTube, Facebook, Rotten Tomatoes, Topix, etc.

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. I run both an online business and an offline business. I must tell you that trying to figure out an internet millionaire in Nigeria from the outside can be difficult. What's is your basis of your judgement? Are you asking based on revenue, profit, total value of your internet assets or company? Do you know that if i raise $5million from investors, i'm technically a millionaire based on company valuation even if my company is yet to turn in a profit. An internet dollar millionaire should be someone who earns at least $100,000 per month in personal income. Or your internet company should be making a profit of at least $25,000 profit per month consistently and you must own at least 70% of the company.

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Valuing a business is not as simple as u put it. U have actually wrongly explained 2 methods of valuing a business. No one whose monthly profit is 25,000 dollars can be called a millionaire, even if he owns 100% of d company. Valuing dat type of business involves discounting d future profit by d cost of capital. An individual can actually be a millionaire if investors invest 5 million dollars in his business. If investors invest 5 million 4 a 60% stake, then d person automatically is a millionaire.

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I run both an online business and an offline business. I must tell you that trying to figure out an internet millionaire in Nigeria from the outside can be difficult. What's is your basis of your judgement? Are you asking based on revenue, profit, total value of your internet assets or company? Do you know that if i raise $5million from investors, i'm technically a millionaire based on company valuation even if my company is yet to turn in a profit. An internet dollar millionaire should be someone who earns at least $100,000 per month in personal income. Or your internet company should be making a profit of at least $25,000 profit per month consistently and you must own at least 70% of the company.

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i think it;s one dude that owns goldennairaexchange, he sells liberty reserve and also this digital currency.

he has hit the one million dollar mark.

running a online digital currency exchange is really a profitable business in nigeria.

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I have made my first million (in Naira) on the internet.  I am an INTERNET BUSINESS MILLIONAIRE although not in dollars

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Thank you for the link.

The other Nigerians mentioned by the previous posters are not Internet millionaires in USD

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I don't know who the first internet entrepreneur is in Nigeria, but perhaps the question should be "Are there Nigerians online who are making millions (in USD) not Naira?", and the answer is an unequivocal YES. Here is proof of a company owned by a Nigerian (30 something year-old Nigerian) and I know their family well: Read it for yourself:

http://www.entrepreneur.com/magazine/entrepreneur/2006/september/165976.html

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ta ! who told you, remember sunny was working with a newspaper company before he started making waves, femi might not be no more in that line again , but then Femi was ontop by then when it comes to ppl who make millions from the internet

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AIMTECHNG.COM guys could b next

those guys i moving fast men

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I know him too, have been at his seminars about twice.

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Do not get me wrong "smartsoft".

I have not said I don't believe he had "hammered" before. My point is, I need evidence to point to the fact that he had ever been rich from working online and I said no mention was made of his previous wealth, in that Wikipedia entry.

No harm in asking - is there?

Also, I never knew about this guy.

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niyye i will tackle you there, this is the person i know well, all information might not be posted online but the guy ran into millions, later he got himself into trouble, any internet business guy way back then should know him 4real because he was the first person. www.netdomng.net

His major business way back then was ,

Credit Card Ordering /Debit Card

Payment Solution

Make Payment online

Domain registration

Web hosting

Website design

Make money online

he runs a big seminar on website design and online payment, creditcard

Alotta people payed him big money to start their own company, payed money to order cards for them, have been to his seminar longtime ago, there i met one of his website designer which happend to be my friend uptill date

So the guy don hammer and later rundown

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This is the first time am hearing that name i don't even know the man so there are nice nigerians in this country ,

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This is what Wikipedia has to say about Femi Abodunrin:

No mention is made of his millions. Can you point us to a clue as to the fact that he ever made a million online?

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Orikinla - I guess Smartsoft is Right?

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Humm I remember,  it was Femi Abodorin of Netdom Networks,  whoes office is at Ikeja. but he has run dry now,  owing alotta people money

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