HOW FEMI OTEDOLA MAKES OVER N24BILLION IN ONE WEEK
the charismatic Nigerian businessman and entrepreneur, has experienced a substantial surge in his wealth, surpassing over N24 billion. This remarkable growth is attributed to his strategic investments in two prominent companies, First Bank and Geregu Power, where he holds the position as the sole individual shareholder.
According to data analysis as of March 26, 2023, Femi Otedola held a total of 1,999,342,376 shares in First Bank and 2,388,922,308 shares in Geregu. The value of his shares in these companies experienced a substantial surge in a span of seven days on the Nigerian exchange, resulting in a considerable boost to his overall wealth.
How Femi Otedola made his money In the case of First Bank, the value of Otedola’s shares increased from N27.7 billion (N27,702,982,266) on May 26, 2023, to N28.5 billion (N28,491,228,074) on June 2, 2023. This increase was driven by the rise in First Bank’s share price, which climbed from 13.85 per share on May 26 to 14.25 per share on June 2. As a result, Otedola earned a substantial profit of N788,245,808 from his investment in First Bank during this period.
Similarly, Otedola’s shares in Geregu Power demonstrated remarkable growth. On May 26, his total shares in Geregu Power were valued at N725,986,482,571, with each share priced at N303.9. By June 1, 2023, their value had surged to N749,964,755,271 as the company’s share price increased to N313.9 per share.
The surge in Otedola’s wealth highlights the success of his investment strategy and his astute decision-making in the Nigerian financial market.