Nigerian billionaire Femi Otedola has been ranked the 4th richest man in Nigeria by Forbes amid bullish Nigerian stock performance.
According to the latest update of the Forbes Billionaire Index, Otedola has a net worth of $1.2 billion after making over $6 million on Thursday, January 11, 2024.
His new net worth placed him as the 2,353 richest man in the world.
Otedola is now behind only Aliko Dangote, Mike Adenuga, and Abdulsamad Rabiu on the Forbes Billionaire list of richest men in Nigeria.
Otedola the Corporate Titan
Nigerian billionaire businessman, Femi Otedola emerged as MoneyCentral’s Corporate Titan of the Year 2023, as he added over N1.3 trillion ($1.3 billion) in shareholder wealth to investors via his leadership and shareholder activism, which led to the rise in the market capitalization and improved governance in the companies he has invested in or targeted for activism.
Otedola has significant controlling stakes in two major listed firms Geregu Power Plc, where he is the Chairman and largest shareholder, FBN Holdings where he remains the largest shareholder with major board seats, and Transnational Corporation of Nigeria, in which he made a major intervention in earlier in the year, that helped to improve governance and shake off lethargy in its shares.