Femi Otedola's Net Worth Hits $2 Billion for the First Time

Nigerian billionaire Femi Otedola's net worth has crossed the $2 billion mark for the first time, according to Forbes' latest Real-Time Billionaires data. His fortune rose by $200 million from its August valuation to reach $2 billion as of September 19, 2026.

Forbes places Otedola at No. 2,104 among billionaires globally. The latest figure is $200 million higher than the $1.8 billion recorded for him in August, and about $700 million above the $1.3 billion attributed to him in March 2026.

First HoldCo Stake Drives the Rise

The sharp rise in First HoldCo's share price in recent months has lifted the value of Otedola's stake in the company, helping to push his estimated net worth to the new high.

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. He began building his position in the company in 2021 and became Chairman in January 2024. He has since increased his stake through a series of share purchases in 2026.

Other Holdings in His Portfolio

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. His investments across financial services, power and other assets have contributed to the growth in his estimated wealth.

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.

What Otedola Says About Financial Services

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.

For Nigerian investors, Otedola's climb reflects how much of his wealth now rests on the share price of a single banking group. The rally in First HoldCo stock has been good for his valuation, but it also means his net worth is exposed to the same market swings that any other shareholder faces.