Nigerian billionaire Femi Otedola’s net worth has climbed to $2 billion, marking the first time his fortune has reached that threshold, according to Forbes’ latest Real-Time Billionaires data.
The new valuation represents a $200 million increase from the $1.8 billion figure Forbes recorded for him in August 2026.
It also reflects a jump of roughly $700 million from the $1.3 billion fortune attributed to him in March 2026.
Forbes’ real-time tracker places Otedola at No. 2,104 among billionaires worldwide, with his net worth put at $2 billion as of September 19, 2026.
The growth in his fortune is being driven by rising values across his investment portfolio, which spans financial services, power and other assets.
Because Forbes’ real-time system tracks wealth based on movements in publicly traded assets, Otedola’s estimated net worth fluctuates in line with market changes affecting his holdings.
A major driver of the latest increase has been the surge in the share price of First HoldCo, the parent company of First Bank of Nigeria, in which Otedola holds a significant stake.
Otedola has steadily expanded his ownership of First HoldCo, buying shares both directly and through Calvados Global Services Limited, an investment vehicle linked to him.
By September 18, his stake had risen to about 27.6 per cent of the company, equivalent to 12.34 billion shares.
First HoldCo shares hit a record high of N162.80 on Friday, September 18, pushing the market value of Otedola’s stake above N2 trillion.
Otedola first began acquiring shares in First HoldCo in 2021 and was appointed Chairman of the company in January 2024, after which he continued increasing his stake through a series of purchases in 2026.
Outside of First HoldCo, Otedola retains a 5 per cent stake in Geregu Power, a holding left over after he sold his majority interest in the power generation firm in 2025 for about $750 million, Forbes reported.
Forbes also credits him with shares in Zenith Bank, along with properties in Lagos, Dubai, London and Monaco.
Otedola has previously explained that his interest in the financial services sector is linked to its capacity to drive financial inclusion and support economic development.
Nairametrics reported that in August, he said one of his personal business goals was to make a “significant and positive impact on society,” adding that financial services affect the lives of ordinary people and can serve as a tool for expanding financial inclusion.
He noted that First HoldCo’s extensive customer base, branch network, deposit base and pan-African presence offer an opportunity to widen access to financial services and generate broader economic impact.
