Femi Otedola
- Net worth $1.7 billion
- Birthday November 4, 1962
- Status -
- Country Nigeria
- Source(-s) of wealth Businessman, Investor, Philanthropist
How much is Femi Otedola Worth? Femi Otedola Net Worth in 2026
Femi Otedola’s net worth is estimated at $1.7 billion as of November 2026. He sold control of Geregu Power in December 2025 in a deal valued at $750 million and by August 2026 had put more than ?600 billion into First HoldCo, the parent of First Bank, building a stake of about 26 percent. At the November 9 close that stake was worth about ?1.3 trillion.
| Net worth | $1.7 billion (our estimate, range $1.3 billion to $2.1 billion) |
|---|---|
| Born | November 4, 1962, Ibadan, Nigeria |
| Age | 64 |
| Country | Nigeria |
| Known for | Chairman of First HoldCo; former owner of Forte Oil and Geregu Power |
| Main income sources | First HoldCo shares, Geregu sale proceeds, property |
How much is Femi Otedola worth in 2026?
Our estimate is $1.7 billion, at ?1,349 to the dollar, the rate on November 10, 2026. The biggest piece, his First HoldCo shares, has a daily market price. The Geregu money is documented as a deal value, but where all of it went is not, so we split it with a stated assumption. Property and older wealth from his oil years are our estimates. Read it as a range.
From power plant to bank: the ledger
| Source | Our estimate | What it rests on |
|---|---|---|
| First HoldCo stake | $966 million | His 11.96 billion shares at ?109, the November 9, 2026 close, is ?1.30 trillion at ?1,349 per dollar. |
| Geregu Power, remaining shares | $59 million | Our calculation: his group held 1,909,709,273 shares and sold about 1.814 billion, leaving roughly 95.7 million at ?825.70. |
| Geregu sale cash not yet reinvested | $356 million | Our assumption: about $712.5 million after fees, of which we assume half went into the First HoldCo shares he added in 2026. |
| London house | $72 million | The St John’s Wood house he bought in 2025 for £53 million ($72 million). |
| Other investments, homes and cash | $250 million | Our assumption for wealth left from his Forte Oil years, including a 2015 stake sale thought to have brought him about $200 million. |
| Total | $1.7 billion | $1.703 billion before rounding. |
The Geregu exit
In 2013 he financed 57% of Amperion, which bought the 414 megawatt Geregu plant for $132 million, per his biography. He took Geregu public in October 2022. On December 29, 2025 came the sale: his group had held 1,909,709,273 Geregu shares, about 76.4% of the company, and sold roughly 1.814 billion of them in a sale to MA’AM Energy in a deal valued at $750 million, Nairametrics reported. It estimated he kept about $712.5 million after fees.
In May 2026 he said he sold so he could put the proceeds into the Dangote refinery’s planned share offer, and that he had asked for $100 million of shares in its private placement, Premium Times reported. No allocation has been confirmed, so we carry no refinery row.
The First HoldCo bet, by the numbers
He has chaired First HoldCo since September 2024. By August 2026 his holding, built through Calvados Global Services, reached 11.96 billion shares, and his total investment had passed ?600 billion, with a stated aim of going above 51%. First HoldCo closed at ?109 on November 9, 2026, market data shows.
By our calculation the stake is worth about ?1.30 trillion against more than ?600 billion put in: a paper gain of up to ?700 billion, or roughly double his money.
Forte Oil, before the power plant
He built his first fortune in fuel. His Zenon Petroleum took 28.7% of African Petroleum in 2007 and then bought another 29.3% for ?40 billion, taking his stake to 55.3%. The company became Forte Oil in 2010, sold 17% to Mercuria in 2015 and was sold in 2019. In August 2025 he published a memoir, Making It Big: Lessons from a Life in Business.
Why other estimates disagree
Public estimates differ by hundreds of millions of dollars. Most of the gap comes from how they treat the Geregu cash and the naira rate used for the First HoldCo stake, which moves by tens of millions of dollars on a small currency swing.
What would move the figure
Every ?10 on First HoldCo’s share price moves our total by about $89 million. A push past 51% would turn the remaining Geregu cash into more bank shares. A confirmed allocation in the Dangote refinery offer would add a new row.
Femi Otedola net worth FAQ
What is Femi Otedola’s net worth?
About $1.7 billion as of November 2026 by our estimate. His First HoldCo shares make up about $966 million of it.
How much did Femi Otedola get from selling Geregu Power?
The December 2025 deal was valued at $750 million, about $712.5 million after estimated fees. He kept roughly 95.7 million Geregu shares, worth about $59 million in November 2026.
How much of First Bank does Femi Otedola own?
By August 2026 his holding in First HoldCo, the bank’s parent, reached about 26% of the company. He has said he wants more than 51%.
What did Femi Otedola do before Geregu?
He ran Zenon Petroleum and built a 55.3% stake in African Petroleum, later Forte Oil, which he sold in 2019.
How old is Femi Otedola?
64. He was born on November 4, 1962, in Ibadan, Nigeria.
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How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.