Femi Otedola’s fortune has climbed to $2bn following a rise in the value of his holdings in First HoldCo Plc, as the financial services company’s shares continue to gain on the Nigerian Exchange.
Otedola’s wealth has increased significantly as shares of First HoldCo have continued to gain on the Nigerian Exchange.
The billionaire, who is chairman of First HoldCo, has built a substantial stake in the financial services group through a series of share acquisitions.
The rise in his fortune comes amid increased investor interest in First HoldCo, following the company’s capital-raising efforts and the expansion of Otedola’s position in the group.
Otedola previously disclosed plans to increase his stake in First HoldCo, with the businessman emerging as one of the company’s largest shareholders.
His growing investment in the group has also strengthened his influence in Nigeria’s banking sector.
The latest increase in his fortune marks a significant rise from the $1.3bn valuation attributed to him in Forbes’ 2026 Africa billionaires ranking.
Otedola’s wealth has been closely linked to the performance of his listed investments, particularly First HoldCo and Geregu Power.
He previously held a significant stake in Geregu Power but has reduced his interest in the power company as he increased his investment in First HoldCo.
The businessman’s latest wealth increase highlights how movements in listed share prices can significantly affect the fortunes of Nigeria’s dollar billionaires.
With First HoldCo shares continuing to trade higher, further changes in the company’s market value could affect Otedola’s net worth.