Nigerian business leader Tony O. Elumelu and physician-philanthropist Awele Vivien Elumelu have been named among the 2026 TIME100 Philanthropy honourees by TIME, earning global recognition for their impact on entrepreneurship and philanthropy across Africa.
Newsonspot reports that the annual TIME100 Philanthropy list, now in its second edition, celebrates the world’s most influential changemakers in global giving. The Elumelus were honoured alongside international figures such as Rihanna, Lionel Messi, MacKenzie Scott, Elton John, and Shakira.
The recognition highlights the achievements of the Tony Elumelu Foundation, co-founded by the couple in 2010 to empower African entrepreneurs and drive sustainable economic growth across the continent.
In 2015, the foundation launched a bold $100 million commitment aimed at supporting 1,000 entrepreneurs annually for 10 years. Since then, the initiative has expanded significantly beyond its original target. To date, more than 27,000 entrepreneurs have received mentorship and $5,000 seed grants through the programme, while the foundation’s 12th cohort has grown to more than three times the size of its first intake.
The foundation has also increased support for women entrepreneurs, with women now making up more than half of its beneficiaries compared to about 20 percent during its early years. To widen access, the organisation transformed its entrepreneurship training materials into free online learning programmes, reaching over 2.5 million Africans.
According to available figures, entrepreneurs supported by the foundation have collectively generated over $4.2 billion in revenue, created more than 1.5 million jobs, and helped lift over 2.1 million people out of poverty across Africa.
This latest honour marks another milestone for Tony Elumelu, who previously appeared on the TIME100 list of the world’s most influential people in 2020 and received the inaugural TIME100 Impact Award in 2022. However, the 2026 recognition is particularly significant as it jointly honours both Tony and Awele Elumelu for their shared commitment to philanthropy and entrepreneurship development.
Speaking about the foundation’s journey, Tony Elumelu said the organisation was created to “democratise luck,” adding that the overwhelming number of applications received over the years revealed the immense need and aspirations among young African entrepreneurs.
At the centre of the foundation’s mission is Africapitalism – Tony Elumelu’s economic philosophy that encourages Africa’s private sector and young entrepreneurs to drive the continent’s development instead of relying heavily on foreign aid or government borrowing. The idea has continued to inspire entrepreneurship, innovation, and economic connectivity across Africa.
