Billionaire investor Femi Otedola has surged to the fourth position on Nigeria’s list of top billionaires, with a current valuation of $1.2 billion, according to Forbes.

This recent reassessment is attributed to his ownership of over 70% of Geregu Power, a power generation business.

In the years 2022 and 2023, Otedola strategically sold down his Geregu stake from over 95%, welcoming institutional investors into the business.

Key investors in Geregu include the Afrexim Fund for Export Development in Africa, the State Grid Corporation of China as well as some pension funds and institutional investors.

Apart from his energy ventures, Otedola holds significant real estate assets in Lagos, Dubai, London, and Monaco. He also owns shares in Zenith Bank and FBN Holdings.

The valuation update coincides with Otedola’s philanthropic gesture of donating N1 billion to the Lagos State Security Trust Fund, underscoring his commitment to giving back.

Source: https://nairametrics.com/2024/01/11/femi-otedola-worth-1-2-billion-rejoins-forbes-billionaire-list-as-nigeria-4th-richest/

That's good. My own dey come

Make this man no overtake me o

Congratulations

They should subtract that 1 billion donation he gave to Lagos.

Elumelu right now...
-kiss the truth!

Congratulations sir.

Congratulations

I'm not convinced. There's something fishy going on with this Forbes valuation. Geregu is nowhere near sufficient to propel this guy to a $1bn net worth. Don't bother to mention the so-called FBN and Zenith Bank shares or so called property portfolio.

He can't possibly be as rich as Jim Ovia, for instance - who isn't in the list.

The rich keep getting richer why the poor keep getting poorer, the middle class has been completely removed with the gap between the rich and poor widening daily.

That's why politicians will never do anything about the naira because they save their wealth in dollars not naira.

Congrats to him.

While the common man is crying, Nigeria's billionaires are consolidating and growing their wealth.

May God guide me to know how to grow wealth too

Billionaire Doings..

The secret to all this is to work in silent invest silently when the time comes your names will be there one day.

That's why I they doubt this my Content creation,sure say no be waste I they waste my time?

Meanwhile this is Dutse,Drone view with Brief History.More to come.

https://www.youtube.com/watch?v=nNstPfR7_9Q?si=Vg1K94ey1IxNg1Uv

Considering this man was close to bankruptcy years ago, I’m Happy for him. A proper philanthropist.

Again , my name is going to be on the billionaires list this year

What are the valuation benchmarks Forbes are using?

Devaluation of the naira is expected to affect the wealth of these guys but alas, na more money.

But in all sincerity, i would like to know how forbes does their valuation coz i am a little confuse how someone who was not a billionaire when naira was below 400 to a dollar is now one when a dollar costs #1300.

hedonido:
I'm not convinced. There's something fishy going on with this Forbes valuation. Geregu is nowhere near sufficient to propel this guy to a $1bn net worth. Don't bother to mention the so-called FBN and Zenith Bank shares or so called property portfolio.

He can't possibly be as rich as Jim Ovia, for instance - who isn't in the list.

People don't know it's the Nigeria stock market that's pushing our billionaires up the networth ranking. Lmaooo.

If you bought/hold quality Nigerian stocks, your networth would have increased too. Ignoramus!

>

LIKE SEY NO BE HIM PAPA MONEY WEY HIM GIVE AM AS INHERITANCE

hedonido:
I'm not convinced. There's something fishy going on with this Forbes valuation. Geregu is nowhere near sufficient to propel this guy to a $1bn net worth. Don't bother to mention the so-called FBN and Zenith Bank shares or so called property portfolio.

He can't possibly be as rich as Jim Ovia, for instance - who isn't in the list.

Go and make your own list and put Jim above him and stop hating.

Y

hedonido:
I'm not convinced. There's something fishy going on with this Forbes valuation. Geregu is nowhere near sufficient to propel this guy to a $1bn net worth. Don't bother to mention the so-called FBN and Zenith Bank shares or so called property portfolio.

He can't possibly be as rich as Jim Ovia, for instance - who isn't in the list.

Call the police!

Richtaiwo:

What's funny?

Whats going please. The rich are getting richer. There is a secrete they know which we don't know

Dangote
BUA
Mike Adenuga
etc are all increasing there wealth even in this harsh economy

KOOL He doesn't brag or make noise..

Am the next billionaire but helping the needing, hospitals, an Gospel to the world. So help me God.

yusufu16:
Whats going please. The rich are getting richer. There is a secrete they know which we don't know

Dangote
BUA
Mike Adenuga
etc are all increasing there wealth even in this harsh economy

The Nigeria stock market is on a bull trend. The elites knew what they were doing when they opted for Asiwaju.

hedonido:
I'm not convinced. There's something fishy going on with this Forbes valuation. Geregu is nowhere near sufficient to propel this guy to a $1bn net worth. Don't bother to mention the so-called FBN and Zenith Bank shares or so called property portfolio.

He can't possibly be as rich as Jim Ovia, for instance - who isn't in the list.

Valuation bro. Selling 20% stake in Geregu is bound to rocket up the valuation of the firm.

Besides we know what's happening with real estate in the West now. I'm assuming he's doesn't have a 3 bedroom but a bunch of skyscrapers at least. Monaco alone is a goldmine.