Native to Nigeria, Femi Otedola was first on Forbes' list of billionaires in 2009. He temporarily dropped off the list due to a share issue with African Petroleum, but has since regained much of his wealth. During the feud, Aliko Dangote allegedly manipulated shares in African Petroleum. Since that time, the feud has resolved. In 2011, news of Otedola's $900 million in debts came out, but he paid them off by 2012.Today, he possesses a net worth of $1.2 billion. Originally, he was born in Lagos State and was the son of a former governor.
Read also : The Richest People In Nigeria, Top 20 Richest People In Africa
Much of Otedola's wealth comes from Zenon Petroleum. This company is the biggest distributor of diesel in Nigeria and annually brings in $2 billion in revenue. Femi Otedola is also a majority shareholder in Forte Oil. Since he gained shares in the company, the corporation has increased earnings by seven fold until a fall during 2012. By 2012, stock prices rose and helped to bolster Forte Oil's revenue. He owns Zenon Oil and still directly runs the business. In addition, the power generated by his fuel works power manufacturing businesses like Nestle, Coca Cola and Nigerian Breweries. In his personal life, Otedola married Nana and raised four children. The family currently lives together in London.
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