Emeka Okonkwo, popularly known as E-Money is very rich. There’s absolutely no doubt about that. However, many people do not know his source of wealth. In other words, several people can’t grasp how he’s managed to maintain his lavish lifestyle.

E-Money’s source of income has been a source of many debates of late. Many people have alleged that he is into something shady. However, there’s currently no proof whatsoever to confirm such claims.

In some of the throwback stories Emeka Okonkwo has shared on social media, he revealed that he wasn’t born with a silver spoon.

In his own words, it was after he got married to his current wife he started enjoying wealth. For that, he believes his wife is his goodluck charm.

What businesses does E-Money own?

5 Star Music

Emeka Okonkwo is the founder and chairman of 5 Star Music. The record label was home to Harrysong, Skibii, among others.

Currently, KCee, who is E-Money’s older brother remains attached to the label. Indeed, one can’t say for sure it is the source of his entire fortune. However, 5 Star Music contributes to E-Money’s net worth.

According to Music Africa, 5 Star Music came into existence in 2010. But it was in 2013 after the release of KCee’s ‘Limpopo’ that the label became popular.

EMY cargo and shipping services Nigeria Ltd.

According to Vanguard, E-Money is one of the biggest players in Nigeria’s shipping business. He is the owner of Emy Cargo and Shipping services Nigeria Limited.

Based on the information on the official website, he established the business in 2007 to provide shipping & clearing services to the maritime sector of the Nigerian economy.

The company, according to them, have a global reputation for providing importing and exporting services to their valued customers all over the world ranging from ocean freight forwarding and ground freight forwarding.

The Nigerian ship charter market is estimated to be worth at least $10 billion annually, of which about $5 billion is readily identifiable within particular operations.

Arguably, this business is his biggest source of income.

Oil and Gas

E-Money and his brother KCee have also invested in Oil and Gas recently.

In a chat with Nigerian Entertainment Today, KCEE whose real name is Kenneth Okonkwo opened up on his new investment. 

‘The name of the company is ‘Five Star Oil and Gas’, a subsidiary of our Five Star brand.

‘There’s actually a lot we want to go into but we are taking our time to unravel them one after the other,’ he said.

Well, this is another multimillion dollar investment, which could be another big contribution to their lavish lifestyle.

Other investments

Our sources have also revealed that E-Money has invested in properties home and abroad.

What is E-Money’s net worth?

Emeka Okonkwo is worth an estimated $30 million, according to Wealth Result.

Controversies surrounding his source of income

In May 2020, the Inspector-General of Police, Mohammed Adamu, ordered a probe into E-Money’s source of income.

They want to know how he managed to rise from being a ‘nobody’ born in Ajegunle to becoming one of the wealthiest young men in Nigeria.

Details of their investigation has not emerged as of when we filed this report. We’ll keep you updated once something comes up.

But so far, there’s been no reports online or offline linking E-Money to fraud or any criminal activity. And as the law says, everyone remains innocent until found guilty.

Read also: E-Money buys exotic cars for several of his employees to mark his birthday.