Nigerian billionaire investor Femi Otedola has moved closer to the $2 billion wealth mark after adding about $500 million to his fortune in 2026.

Forbes’ Real Time Billionaires ranking puts Otedola’s current net worth at $1.8 billion, up from $1.3 billion at the start of the year. The increase represents a gain of about 38.5 per cent in eight months.

The News Chronicle reports that Otedola’s growing wealth has been supported largely by the performance of his investments, particularly his expanding stake in First HoldCo

Otedola became a major shareholder in the financial group in 2021 and has continued to increase his holdings. In July, he acquired First HoldCo shares worth about N222.2 billion, followed by another purchase valued at N20.68 billion in August.

His stake has now risen above 26 per cent, strengthening his position as the company’s largest individual shareholder. Otedola has previously indicated that he is targeting more than 51 per cent ownership.

The billionaire has built his fortune across oil and gas, power, commodities and financial services. He also sold his majority stake in Geregu Power for about $750 million in 2025 while retaining a 5 per cent interest.