Damola Adamolekun's net worth: From Harvard grad to Red Lobster CEO
Damola Adamolekun’s net worth, estimated at $10 million, is driven by his salaries and equity stakes from various executive roles. He is a young Nigerian-American making waves on Wall Street. Speaking about his work ethic, Damola once said:
Work doesn’t stress [me] out.
Source: Instagram
TABLE OF CONTENTS
Key takeaways
- Damola Adamolekun’s salary and equities helped him earn several million dollars.
- He has held executive roles at several companies, including Paulson & Co., P.F. Chang’s, and currently, Red Lobster.
- Damola does not believe in work-life balance, a mindset he credits for his success.
Profile summary
Full name | Damola Adamolekun |
Date of birth | February 1989 |
Age | 36 years old (as of 2025) |
Place of birth | Nigeria |
Current residence | Scottsdale, Arizona, United States of America |
Nationality | Nigerian-American |
Ethnicity | African |
Siblings | Three |
Marital status | Single |
Education | Brown University, Harvard Business School |
Profession | Business Executive and restaurateur |
Social media |
CEO Damola Adamolekun's net worth makes him a millionaire
The current Red Lobster CEO has an estimated $10 million in financial assets, according to Mashed. Damola’s success in the corporate world began with a deep passion for business. According to a Black Past article, he said:
I always found business interesting, even when I was young. It captivated me intellectually. I started working when I was in high school and invested everything I made. I opened my first stock portfolio when I was 16.
Adamolekun commands competitive salaries with top companies for his ability to restore the fortunes of collapsing businesses.
Source: Original
Damola interned with Goldman Sachs at 19
A student internship with Goldman Sachs at age 19 launched Damola’s journey into the corporate world. The company employed him as an Investment Banker before he secured the role of private equity associate at TPG Inc.
After his Master of Business Administration at Harvard Business School, Adamolekun joined John Paulson’s investment firm, Paulson & Co.
He earned his first executive role after persuading Paulson to acquire a controlling stake in P.F. Chang’s during its restructuring. He was appointed to the board as Chief Strategy Officer after the acquisition.
Damola was the first black CEO of P. F. Chang
Adamolekun was appointed CEO of P.F. Chang’s in 2020, becoming the business’ first black Chief Executive Officer. Under his leadership, the company’s sales rose by 31.7%, reaching annual revenues of $1 billion.
He launched the firm's delivery brand, P. F. Chang To Go, before stepping down as CEO in 2023.
Source: Getty Images
Damola is currently serving as CEO of Red Lobster
In 2024, Red Lobster faced bankruptcy with over $1 billion in debt, but was saved by Wesley Edens’ Fortress Investment Group in mid-2024. The board immediately appointed Damola Adamolekun as its CEO after completing the acquisition.
As Urban Geekz reported, Damola spoke about his appointment:
Red Lobster is an iconic brand with a tremendous future. I’m looking forward to working with our team members across North America to reinvigorate the brand by making it the best place to work for our employees and improving the experience for our guests.
His father modelled his business success
The CEO credits his professional success to the mentorship and example of his father. Celebrating the man on Father’s Day in 2023 on LinkedIn, Damola wrote:
My father set the bar for excellence early in my life, and always helped me step up to meet it. I’m grateful for the tone he set that encouraged me and my siblings to always reach a little higher toward our goals...We wouldn’t be where we are without you.
Damola is currently the founder and president of a family business, Cedar Lane, Inc., which is a New York-based investment and advisory firm. It invests in hospitality businesses across America by providing operational solutions to help businesses reach their goals.
Source: Getty Images
The Red Lobster CEO has an impressive educational background
Damola Adamolekun’s education history officially began with Wilde Lake High School in Columbia, Maryland. As Black Enterprise published, he started his first stock portfolio when he was 16 years old.
The restaurateur obtained a Bachelor of Arts degree in Economics and Political Science from Brown University. He was a part of the school’s championship football team while doubling as president of the student investment group.
Adamolekun attended Harvard Business School for his MBA and served as portfolio manager of the HBS Investment Club.
Damola Adamolekun’s family hails from Nigeria
The Red Lobster CEO was born in Nigeria, and his parents are Nigerians of Yoruba origin. Damola’s mother is a pharmacist, while his father is a neurologist. He spent his childhood in Zimbabwe and the Netherlands before his family settled in Springfield, Illinois.
Source: Getty Images
Frequently asked questions
- Who is Damola Adamolekun’s wife? The Red Lobster CEO’s marital status is undisclosed, as he prefers to keep his personal life private.
- How did Damola make money before the restaurant? The business executive worked in investment banking before his current career as a restaurateur.
- How much do Red Lobster executives make? Salary reported that the president at Red Lobster gets $925,185 annually.
- Is Damola Adamolekun African? He is African as his parents are Nigerian.
Conclusion
Damola Adamolekun’s net worth demonstrates that success can be achieved across diverse industries. Having transitioned from finance to the restaurant industry, the Red Lobster CEO is certainly a rising figure in the corporate world.
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Source: Briefly News
