For The First Time Ever, Femi Otedola’s Net Worth Hits $2 Billion

Nigerian billionaire and investor Femi Otedola’s estimated net worth has reached $2 billion for the first time, according to Forbes’ latest Real-Time Billionaires data.

The milestone represents a $200 million increase from the $1.8 billion valuation recorded for Otedola in August 2026 and approximately $700 million above the $1.3 billion fortune Forbes attributed to him in March.

First HoldCo Drives Wealth Surge
A major factor behind the increase is the strong performance of First HoldCo Plc, the parent company of FirstBank Nigeria, where Otedola has continued to build a substantial stake.

First HoldCo shares reached a record ₦162.80 on September 18, lifting the market value of Otedola’s holding to more than ₦2 trillion, based on his reported ownership of about 27.6% of the company.

Otedola became chairman of First HoldCo in January 2024 after building a significant position in the former FBN Holdings. His investment strategy has increasingly shifted his wealth exposure toward financial services following his sale of a majority stake in Geregu Power in 2025 for roughly $750 million, according to Forbes.

From $1.3 Billion To $2 Billion
Otedola's wealth trajectory has accelerated considerably in 2026.
Forbes valued his fortune at $1.3 billion in March, before it rose to $1.8 billion in August. The latest $2 billion valuation represents a substantial increase within six months, with the First HoldCo rally playing a significant role.

Forbes’ real-time billionaire estimates are affected by movements in publicly traded assets and currency values, meaning Otedola’s estimated net worth can rise or fall as market conditions change.

Why This Matters
Otedola’s latest wealth milestone highlights the growing importance of financial-market valuations in shaping the fortunes of Nigeria’s leading investors.

It also underscores how a major listed equity position can rapidly alter an investor’s estimated net worth. In Otedola’s case, the appreciation of First HoldCo has become a significant driver of his wealth profile, following years of investments across commodities, oil and gas, power and financial services.

The $2 billion figure should therefore be viewed as a real-time market-based estimate, rather than a fixed amount of cash or liquid assets.

Forbes’ annual billionaire rankings and its real-time tracker can produce different valuations because they are based on different reporting dates and market conditions.