- The net worth of Femi Otedola has surged by $100 million in the last month, helping him climb the Forbes billionaire rich list
- New data shows that the serial investor and chairman of Geregu Power, First HoldCo, has moved up in the global wealth ranking
- Dangote remains among the top 100 while Elon Musk continues to lead the world’s richest list ahead of Larry Ellison
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Femi Otedola’s wealth has increased in the last month, helping him climb the global billionaire rich list.
New data from Forbes shows that the Chairman of Geregu Power Plc and FBN Holdings Plc net worth has increased to $1.6 billion as of Wednesday, October 8 2025.
Source: Instagram
This represents a $100 million increase in one month, compared to $1.5 billion in September 2025.
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Otedola’s new wealth has pushed him up from 2,431st to 2,385th position on the world’s billionaire ranking.
Femi Otedola’s net worth rises
According to Forbes, Otedola, who made his fortune in energy and utilities, has benefited from strong investor confidence and the solid performance of Geregu Power Plc, the first power generation company listed on the Nigerian Exchange (NGX).
Since its debut on the market, the company has attracted institutional and international investors betting on Nigeria’s electricity reform.
At 62 years old, Otedola continues to diversify his investments beyond oil and gas, focusing on the power and finance sectors.
Source: Getty Images
Other Nigerian billionaires
While Otedola’s fortune climbed, other Nigerian billionaires recorded minimal changes.
Aliko Dangote, Africa’s richest man, now ranks 93rd globally with a net worth of $24.8 billion, up slightly from $24.4 billion a month ago.
Abdulsamad Rabiu, chairman of BUA Group, saw his wealth rise from $7.2 billion to $7.9 billion, placing him 450th.
While Mike Adenuga, founder of Globacom, maintained his net worth at $6.3 billion, ranking 610th globally.
Global billionaire rankings
On the global front, American tech founders continue to dominate. Elon Musk, Larry Ellison, and Mark Zuckerberg occupy the top three positions, while Bernard Arnault & family remain the richest non-American, sitting in seventh place with $171.5 billion.
Here is the top 10 richest men in the world
- Elon Musk: $484.2bn
- Larry Ellison: $344.4bn
- Mark Zuckerberg: $244.3bn
- Jeff Bezos: $234.5bn
- Larry Page: $204.7bn
- Sergey Brin: $189.9bn
- Bernard Arnault & family: $171.5bn
- Jensen Huang: $160.7bn
- Steve Ballmer: $157.5bn
- Warren Buffett: $150.1bn
Otedola shares ambition for First Bank
Earlier, Legit.ng reported that Femi Otedola, the chairman of First HoldCo Plc, has declared that, after the next stage of the company’s capital-raising campaign, his total cash investment in the financial institution is expected to reach N320 billion.
Otedola commended President Bola Tinubu’s audacious economic changes, claiming that they had improved the climate for long-term investments.
Additionally, he praised Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN).
Source: Legit.ng
