Femi Otedola CON has always shown the traits of the proverbial cat with nine lives. He is a man who anyone can’t predict his chess moves most especially in Business. Very calculative, intelligent and result-oriented; Otedola has always aimed to be a better version of himself at his own pace. He is a man who knows what he wants so he chases his dreams and aspirations with much gusto. While many have admired his business acumen; his close friends say he has not even displayed or employed half of his business strategies. It’s said that; if he deploys his business arsenals; many people would have sleepless nights to catch up with this fortune.
Years ago when he announced his plans to quit the once money-spinning Oil and gas sector; many faulted his decision but Otedola who is clairvoyant saw that the future of power was sparkling bright so he divested his funds into the Geregu power plant in Kogi State. Despite having a slow start; Otedola deployed one of his businesses Magic Wands and launched the brand into the Nigerian Stock Exchange making it the first power company to be listed there and the share prices continued to soar higher to date.
Many were shocked at how he was able to pull such a string, Otedola was quietly plotting some moves to take over First Bank as the highest single shareholder. Many shareholders who were asleep woke up from their slumber as they saw that Otedola had taken over the bank. He also didn’t stop at that he also mopped up shares from Transcrop PLC but later sold his shares and made a massive Return on Investment running into billions of Naira. It was at this point many businessmen who were relaxed woke up and started having sleepless nights waiting for the next business the Epe-born philanthropist was going to take over.
Despite his exit from the Forbes list of billionaires over a decade ago; also donating a whopping N1Bn to the Lagos State Security trust funds, The Chancellor of St Augustine University, Epe returned in grand style with a whopping $1.2B fortune according to the recently released rating by Forbes financial magazine making him the 4th richest man in Nigeria. With so much consistency, strategy, hard work, doggedness and prayers, what many of his peers have been struggling to get; Otedola got it at his own pace. Financial pundit says when all his investments start, materializing, he will leapfrog his current position and will move to a whopping $2.3 Billion wealth before the end of 2024.
