Femi Otedola’s net worth hits $2 billion for the first time ever

Nigerian billionaire Femi Otedola’s net worth has risen by $200 million from its August valuation to $2 billion, according to Forbes’ latest Real-Time Billionaires data.

The latest valuation marks a new high for Otedola’s fortune, as he reaches the $2 billion mark for the first time.

The rise in his fortune comes as the value of his investments continues to increase, with holdings across financial services, power and other assets contributing to the growth in his estimated wealth.

What the data is saying

Forbes’ latest real-time data places Otedola at No. 2,104 among billionaires globally, with a fortune of $2 billion as of September 19, 2026.

• The latest figure is $200 million higher than the $1.8 billion valuation Forbes recorded for Otedola in August, and about $700 million above the $1.3 billion fortune attributed to him in March 2026.
• Forbes’ real-time billionaire tracker updates wealth estimates based on movements in publicly traded assets, meaning Otedola’s fortune can change as the market value of his investments moves.

The sharp rise in First HoldCo’s share price in recent months has also increased the value of Otedola’s stake in the company, helping to lift his estimated net worth.

Get up to speed

Otedola has continued to increase his ownership of First HoldCo, the parent company of First Bank of Nigeria, through purchases made directly and through Calvados Global Services Limited, an investment vehicle linked to him.

• His holding had reached about 27.6%, or 12.34 billion shares, by September 18.
• First HoldCo shares rose to a record N162.80 on Friday, September 18, pushing the market value of Otedola’s stake above N2 trillion.
• Otedola began building his position in First HoldCo in 2021 and became Chairman of the company in January 2024. He has since continued to increase his stake through a series of share purchases in 2026.

Beyond First HoldCo, Otedola retains a 5% stake in Geregu Power following the sale of his majority interest in the power generation company in 2025 for roughly $750 million, according to Forbes. Forbes also lists him as holding shares in Zenith Bank and properties in Lagos, Dubai, London and Monaco.

What you should know

Otedola has said his interest in financial services is tied to the sector’s potential to promote financial inclusion and contribute to economic development.

In an exclusive interview with Nairametrics in August, he said one of his personal business objectives was to make a “significant and positive impact on society,” noting that financial services touch the lives of individuals and can serve as an enabler of financial inclusion.

He said First HoldCo’s large customer base, branch network, deposit base and pan-African footprint provide an opportunity to expand access to financial services and create a broader economic impact.