- Femi Otedola, a Nigerian billionaire, has been labeled Africa’s “poorest billionaire” in Forbes’ 2026 Africa Billionaires List.
- The list highlights significant wealth growth among Africa’s richest individuals over the past year.
- The total net worth of Africa’s 23 billionaires reached approximately $126.7 billion.
Nigerian billionaire businessman Femi Otedola has stirred conversations online after being described as Africa’s “poorest billionaire” in the latest ranking published by Forbes.
In its 2026 Africa Billionaires List, Forbes revealed that the continent’s richest individuals experienced notable growth in wealth over the past year. The report showed that the total net worth of Africa’s 23 billionaires climbed to approximately $126.7 billion, largely due to a strong performance in regional stock markets.
Despite the overall increase in fortunes, Otedola and Moroccan businessman Anas Sefrioui were placed at the bottom of the list. Both men were reported to have an estimated net worth of $1.3 billion, making them the least wealthy among Africa’s billionaires.
According to Forbes, Otedola’s wealth declined by around $200 million after he sold a significant portion of his shares in Geregu Power Plc at a price below the company’s prevailing market value.
The report also noted that 14 out of the 23 billionaires on the list are self-made entrepreneurs who built their wealth rather than inheriting it.
In addition, Forbes highlighted a noticeable demographic imbalance among Africa’s wealthiest individuals. Currently, no women appear on the list of billionaires, and most of the listed individuals are over the age of 60. The youngest billionaire on the list is Tanzanian businessman Mohammed Dewji, who is 50 years old.
When broken down by country, South Africa leads the continent with seven billionaires, followed by Egypt with five. Nigeria has four billionaires on the list, while Morocco accounts for three.
Meanwhile, Nigerian industrial magnate Aliko Dangote maintained his position as Africa’s richest man with an estimated fortune of $28.5 billion. His wealth reportedly increased by about $4.6 billion over the past year, driven by a surge of nearly 69 percent in the share price of Dangote Cement.
Following the release of the ranking, Nigerians flooded social media with humorous reactions to Otedola’s position. Some users even joked that the situation could explain why his daughter, popular disc jockey DJ Cuppy, recently sold one of her luxury vehicles.
See post below:
Read some comments below:
One user wrote: “So Otedola is now Africa’s poorest billionaire? No wonder DJ Cuppy sold her car.”
@jojo_kay7:”Oh! no wonder, Cuppy sold her car .”
@rubby402:”E no go poor ke you know how much him spend for temi weeding including properties from France.”
@itzdeprinx:”Poor means he’s on the verge of losing his billionaire status. For instance 1 million naira doesn’t make one a millionaire.”
@momentum_healthcare:”In the words of a famous philosopher- inside Evian, another Evian Dey inside🙏🏾.”
@bouhlaer:”Even the person who wrote this article doesn’t come close to Ote$$$. Man weh God don bless.”
@ihesie_naturalhealth:”It’s a big sacrilege to add Poor & Billionaire in the same sentence. A dangerous TABOOO.”
@Quwam54819554:”If nah poorest we naija youth way our papa still Dey try small small nko ? Omoor Watin dem give Forbes smoke abeg.”
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