F. Otedola’s Return to Forbes List

The billionaire entrepreneur Femi Otedola has returned to the Forbes list after an eight-year break. He shared the announcement on Instagram with a simple “Interesting” caption and his signature F.Ote with dollar emojis. At 61, he re-entered the Forbes list with a net worth of $1.1bn, contributing to a total increase in the fortunes of the 2024 list to $82.4bn from last year’s $81.5bn.

This positive trend signals growth for Africa’s economic titans. Otedola, a philanthropist with diverse business interests, notably in energy, power generation, real estate, and shipping, had last appeared on the Forbes Africa list in 2016. Despite tough competition, particularly in the energy sector, he secured the 20th spot this year.

Other notable Nigerians on the 2024 Forbes list include Aliko Dangote, Africa’s richest billionaire, Mike Adenuga, and Abdulsamad Rabiu. Dangote maintains the top spot with a net worth of $13.1bn, while Adenuga and Rabiu occupy the fifth and sixth positions with $6.9bn and $5.9bn net worth, respectively.

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