Femi Otedola’s aggressive investment in First HoldCo Plc has made him Africa’s fastest-growing billionaire in 2026, highlighting how the turnaround of the parent company of FirstBank, Nigeria’s oldest lender, has become the continent’s biggest wealth creation story this year.
A BusinessDay analysis of Forbes Africa’s Billionaires real-time tracker shows that Otedola’s net worth climbed by 46.1 percent to $1.9 billion as of 3:30 p.m. on August 7, from $1.3 billion on March 9, adding $600 million in less than five months.
The latest surge builds on the businessman’s return to the Forbes World’s Billionaires list in March 2024 with a net worth of $1.4 billion, marking his first appearance on the ranking since 2016.
According to Forbes, his wealth spans investments in First HoldCo, Zenith Bank and prime real estate in Lagos, Dubai, London and Monaco. However, the sharp increase in his fortune this year has been driven by the
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