Otedola Ranked ‘Poorest Billionaire’ On Forbes Africa List
Nigerian billionaire businessman Femi Otedola has been tagged as Africa’s “poorest billionaire” in the latest ranking released by Forbes, sparking reactions from Nigerians on social media.
According to the 2026 Africa Billionaires List, the continent’s wealthiest individuals have grown significantly richer over the past year.
The report revealed that the combined fortune of Africa’s 23 billionaires rose to about $126.7 billion, largely driven by a strong rally in regional equity markets.
Despite the general surge in wealth, Otedola and Moroccan businessman Anas Sefrioui are tied at the bottom of the list with a net worth of $1.3 billion, making them the “poorest” among Africa’s billionaires.
Forbes reported that Otedola’s fortune dropped by roughly $200 million after he sold a large portion of his stake in Geregu Power Plc at a price lower than the company’s market value.