Otedola’s net worth crosses $2 billion mark for the first time

Nigerian billionaire Femi Otedola’s net worth has hit $2 billion for the first time, rising $200 million from its August valuation, according to Forbes’ latest Real-Time Billionaires data cited by Nairametrics.

The fresh valuation places Otedola at No. 2,104 among billionaires globally as of September 19, up from $1.8 billion in August and about $700 million above the $1.3 billion recorded in March.

Nairametrics further noted that the surge was driven largely by First HoldCo’s rising share price, which hit a record N162.80 on Friday, pushing the market value of Otedola’s stake above N2 trillion after his holding grew to roughly 27.6%, or 12.34 billion shares.

Beyond First HoldCo, where he became chairman in January 2024, Otedola retains a 5% stake in Geregu Power and holdings in Zenith Bank, alongside properties in Lagos, Dubai, London and Monaco.

In an earlier interview with Nairametrics, he said his push into financial services was driven by a desire to make a “significant and positive impact on society” through broader financial inclusion — a mission his latest wealth milestone now gives him even greater capital to pursue.