Iyinoluwa Aboyeji became a millionaire at 23 and co-founded two billion-dollar companies
Serial entrepreneur Iyinoluwa Aboyeji has shared how he became a millionaire at age 23, built two billion-dollar companies, and attracted investment from Meta founder Mark Zuckerberg. In an interview with James Dumoulin of The School of Hard Knocks, Aboyeji reflected on his journey, the power of teamwork, and the surprising connection that led Zuckerberg to invest in his first unicorn startup.
When asked how old he was when he became a millionaire, Aboyeji laughed and replied, “How do you know I was a millionaire?” After Dumoulin explained that he interviews billionaires worldwide and thought Aboyeji looked like one, the entrepreneur smiled and answered: “I was 23.”
How Mark Zuckerberg became an investor
Aboyeji revealed that the 2010 movie The Social Network, which portrays Facebook’s founding, inspired him to become an entrepreneur. Years later, the story came full circle. “I watched The Social Network and actually, full circle, Mark Zuckerberg ended up investing in my first billion-dollar company,” he said. A surprised Dumoulin asked, “Zuckerberg invested in you?” Aboyeji simply replied: “Yes.” Meta, formerly Facebook, was among the investors that backed Andela during its Series B funding round.
Aboyeji is best known as a co-founder of Andela and Flutterwave, two Nigerian-founded startups that achieved unicorn status—privately owned companies valued at over $1 billion. “I actually built two billion-dollar companies. Right there from Lagos, Nigeria,” he stated.
Biggest lesson on building successful companies
Asked what helped him scale businesses successfully, Aboyeji said success isn’t about one genius founder but about building the right systems and surrounding yourself with capable people. He recalled advice from one of his billionaire mentors: “A billion-dollar company is just a bunch of people who could have individually built 10 million-dollar businesses who decided to come together and build one business.” According to him, the strength of any company lies in its team. “It’s the team.”
Advice on making money and networking
Aboyeji credits his early entrepreneurial drive to watching the story of how Facebook was built, motivating him to take risks at a young age. He shared an unconventional perspective on wealth: “Make money for your friends and you’ll never have to worry about money in your life.” He added, “The more money you make other people, the more money you’re going to make yourself.”
On networking, he believes many people approach relationships the wrong way. Instead of asking what they can get, they should focus on helping others first. “The biggest advice for networking is serve people. How can I help? Those four words are the most powerful words in the world.” He continued: “Don’t be a taker. Give, give, give, give, give. And eventually, it will be given on to you.”
Nigeria vs America
Aboyeji, whose companies are incorporated in Delaware in the United States, was also asked about the biggest difference between doing business in Nigeria and America. He answered: “The difference in Nigeria, if you don’t make other people money, you don’t get to make money.” He added: “In America, if you don’t make money, you can’t make other people money.”
Final message for young Africans
Now 35, Aboyeji ended the interview with a message for young Africans dreaming of building global businesses: “Build, build, build.” He noted that there was a time many people believed billion-dollar companies could never emerge from Africa. “At one point, people just didn’t believe billion-dollar companies could come from this part of the world. But look at God.”
His journey—from becoming a millionaire at 23 to helping build two unicorn startups out of Lagos—has become one of Nigeria’s biggest entrepreneurship success stories and continues to inspire a new generation of founders across Africa.
