The Kings Arms Hotel, a 300-year-old inn next to London’s Hampton Court Palace, owned by Nigeria’s former Minister of Defence Theophilus Yakubu Danjuma, is poised to open soon after refurbishment, Bloomberg reports. The 80-year-old Danjuma, who is worth $1.2 billion, according to the Bloomberg Billionaires Index, paid 2.4 million pounds (N1.096bn) for the 14-room Kings Arms Hotel two years ago. Rooms cost about 250 pounds ($318) a night.
The retired military general made a fortune from an oil block awarded to him in 1998 by the regime of late General Sani Abacha. Beyond the U.K., the Danjumas own real estate in California and have bought and sold property in Singapore. Their family office also oversees private equity investments, trust funds and a venture capital arm that backs family-run art and film companies. The Danjumas own more than 30 properties worldwide, filings show.
In addition to the Kings Arms Hotel, the Danjumas have developed residential properties this year in Esher and Wimbledon. They also own a boutique hotel in Lagos, serving beef carpaccio and lobster bisque in one of three dining areas and displaying works from the family’s art firm. “We invest in real estate in other jurisdictions, but in the U.K. we always thought let’s stick to areas that we know,” said daughter Hannatu Gentles, the second of Danjuma’s five children and chief operating officer of his London-based family office.
Danjuma also pledged to give away $100 million through his foundation, with recent donations aimed at improving vision care, literacy rates and rural farming.