The Asante Kingdom’s Otumfuo Nana Osei Tutu II is one of the richest kings in the world, with a shocking fortune. His net worth is explained.
The Asantehene is the absolute monarch of the Asante people and the historical kingdom of Asante. Otumfuo Osei Tutu was enstooled as Asantehene on April 26, 1999.
The Asante king is one of the few powerful and most respected kings in Africa and even the world.
By name, Otumfuo Osei Tutu II is in direct succession to the 17th-century founder of the Ashanti Empire, Otumfuo Osei Tutu I. He is also the Chancellor of the Kwame Nkrumah University of Science and Technology.
On April 3, 2023, Asantehene Otumfuo Osei Tutu II was among the dignitaries who honored the coronation of King Charles III and Queen Consort Camilla.
In late 2023, news emerged that the Asantehene is to lead a campaign to raise $10 million to renovate inpatient wards of the Komfo Anokye Teaching Hospital (KATH) which is in a deplorable state after 70 without any refurbishment. The majority of Ghanaians did not respond warmly to this appeal since many questioned what he does with his wealth.
His net worth was then in question but it is shocking to note that he is worth less than you ever thought. So, how rich is the king of the Asante Kingdom? TheDistin has all the answers to your inquiry.
Profile Summary
| Celebrated Name: | Otumfour |
| Net Worth: | $10 million (per Forbes as of 2014) |
| Profession: | King of Asante Kingdom (Asantehene) |
| Full real name: | Otumfuo Nana Osei Tutu II |
| Date of Birth: | May 6, 1950 |
| Age: | 73 years old (as of 2024) |
| Birthplace: | Kumasi, Ashanti Region, Ghana |
| Nationality: | Ghanaian |
| Tribe: | Oyoko Dynasty |
| Spouse: | Julia Osei Tutu (m. 2006) |
| Children: | 7 kids |
| Parents: | Nana Afia Kobi Serwaa Ampem II, Nana Kwame Boakye-Dankwa |
| Education: | University of Professional Studies, Accra (UPSA), Kilburn Polytechnic, University of North London |
Image Source: TheDistin
What is Otumfour’s net worth?
How much is Otumfour worth right now? Otumfour Nana Osei TuTu II has an estimated net worth of $10 million, according to Forbes as of 2014. How does Otumfuo make his money? His source of wealth is from mining equipment, property, and jewelry. His fortune is expected to have surged as of today, in 2024, since it has been 10 years since the publication.
He is also the Vice Chancellor of Kwame Nkrumah University and the political and spiritual head of the Asante people.
Otumfuo Osei Tutu II, who ascended the throne in 1999 and serves as the political and spiritual head of the Asante people, in 1989 set up Transpomech Ghana, a $12 million (sales) company that provides mining equipment to several large industrial companies in Ghana.
According to Forbes, he also owns extensive real estate in Ghana and South Africa, as well as a collection of valuable gold crown jewels.
Well, Ghanaians, typically the Asantes, considered Forbes’ publication “unacceptable,” with PeaceFMOnline reporting that they think even an ordinary businessman could be worth more than the $10 million a whole King is supposedly worth. Some Ghanaians expected Otumfour to be worth around $1 billion, a figure that is contrary to what Forbes estimates. Other online sources peg Otumfour’s net worth at $100 million.
In March 2014, the American business magazine Forbes released its official debut list of the wealthiest kings in Africa. The total net worth of each individual on the list is estimated in United States dollars based on their assets and accounting for debt. Politicians and dictators whose wealth comes from their positions are excluded from this list, as the term king is deemed by the evaluators to refer to either sovereign or constituent monarchs who reign due to monarchical tradition.
As of March 2014, King Mohammed VI of Morocco topped the list with US$2 billion, while Nigerian oil magnate King Fredrick Obateru Akinruntan, the Olugbo of the Ugbo Kingdom, came second on the list with $300 million. He surpassed fellow Nigerian King Olubuse II, the Ooni of Ife, worth at least $75 million, and the Ngwenyama of Eswatini, King Mswati III, who was himself worth at least $50 million. Rounding out the top five was the Ghanaian King Osei Tutu II, Asantehene of the Ashanti, with $10 million.
Otumfuo appeals to households and corporate Ghana to help raise $10 million for Komfo Anokye Teaching Hospital (KATH)
Households in the Ashanti region and around Ghana are being urged by the Asantehene to join forces to contribute $10 million for the renovation of the Komfo Anokye Teaching Hospital’s (KATH) main “Gee” block.
The hospital’s block housing wards have not had any significant renovations since it was founded about 70 years ago, and the majority of the installations are deteriorating.
Congested wards, algae-infested restrooms, exposed electrical cabling, wide gaps in the ceiling, and cracked floor tiles.
Since its construction in 1955, the main referral center serving 12 out of the 16 regions of the country has not seen any major renovation work.
The hospital, with an original 500-bed capacity, now accommodates about 1,200 inpatients in its main ward.
IMAGE SOURCE: GETTY IMAGES
Otumfuo and his wife, Lady Julia, met King Charles III in London for his coronation on May 6, 2023.
The Asante overlord was one of many monarchs and global leaders from across the globe to assemble at Westminster Abbey for what is expected to be a feast of pageantry marking the first coronation to the British throne in over 70 years.
The Asantehene jetted off to London to grace the coronation of Prince Charles (who is now called King Charles) after his mother, Queen Elizabeth II, died.
Per a statement released by the Chief of Staff of Mayhia Palace, Kofi Badu, the Asantehene and his wife Lady Julia were received by King Charles in a private audience at Buckingham Palace on Thursday, May 4, 2023, before the coronation ceremony on 6th May.
To be able to get this invitation means a lot to the people of Ghana and the Asantes (where he is the head), and this should tell you that Otumfour is not just an ordinary person to play with. His wealth speaks for itself.
Charles III became King after the death of his mother, Queen Elizabeth II, at her rural Balmoral castle on September 8, 2022.