Nigeria’s billionaire businessman, Femi Otedola, has been labeled Africa’s “poorest billionaire” in the 2026 Africa Billionaires List released by Forbes, sparking reactions across social media platforms.
Despite a general surge in wealth among the continent’s ultra-rich, Otedola, alongside Moroccan businessman Anas Sefrioui, is placed at the bottom of the list with a net worth of $1.3 billion.
The report highlighted that the combined fortune of Africa’s 23 billionaires rose to approximately $126.7 billion over the past year, driven by strong regional equity markets.
Otedola’s decline in wealth, estimated at $200 million, followed the sale of a large stake in Geregu Power Plc at below-market value.
Forbes also revealed that 14 of the 23 billionaires are self-made, while the majority are over 60 years old, with Mohammed Dewji, aged 50, being the youngest. Notably, the list currently includes no female billionaires.
Country-wise, South Africa leads with seven billionaires, Egypt has five, Nigeria four, and Morocco three.
Aliko Dangote maintained his status as Africa’s richest, with a net worth of $28.5 billion, boosted by a 69% rise in Dangote Cement shares.
Following the ranking’s release, Nigerians reacted humorously online, linking Otedola’s “poorest billionaire” status to his daughter DJ Cuppy reportedly selling one of her luxury cars.
Comments ranged from playful teasing to light-hearted speculation about the family’s finances, making the story trend widely.
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Forbes Ranks Femi Otedola Among Africa’s “Poorest” Billionaires in 2026 pic.twitter.com/Jp96F8iFkV
— Instablog9ja (@instablog9ja) March 10, 2026
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