Femi Otedola Joins $2 Billion Club with First HoldCo Surge

As of September 19, 2026, Nigerian billionaire Femi Otedola's net worth has hit $2 billion, according to Forbes' Real-Time tracker, placing him at No. 2,104 on the global wealth list. This milestone represents a $200 million increase from August and a gain of approximately $700 million compared to the $1.3 billion recorded in March 2026.

The surge in his wealth is primarily attributed to a 10% rise in the share price of First HoldCo, where Otedola holds a dominant position with 12,338,876,586 shares, approximately 27.6% of the company, valued at over N2 trillion. On September 18, this increase added roughly N182.6 billion ($138 million) to his stake.

Otedola began acquiring shares in First HoldCo in 2021 and became chairman in January 2024. In August 2026, he purchased 95.7 million shares for N12.58 billion, raising his stake to about 27.7%.

Additionally, he holds a 5% stake in Geregu Power after selling his majority interest in 2025 for nearly $750 million.