Femi Otedola
$1.6B
Born
Nov 04, 1962
Age
63
Source of Wealth
Energy and Utilities
Residence
Lagos ,
Citizenship
Nigeria
Marital Status
Married
Children
4
Education
- Femi Otedola is a Nigeria billionaire who made his first fortune in commodities before selling his shares in Forte Oil to invest in the energy business.
- Otedola is chairman of Geregu Power, a power generation business, and owns more than 70% of the shares.
- During 2022 and 2023 Otedola sold down a Geregu stake that was once more than 95% to bring on institutional investors,
- Investors in Geregu include the Nigerian government, the Afrexim Fund for Export Development in Africa and the State Grid Corporation of China.
- He also owns properties in Lagos, Dubai, London and Monaco, and holds shares in Zenith Bank and FBN Holdings.
- His daughter is a professional DJ who goes by the stage name DJ Cuppy.
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