Cover Stories, People

Otedola actually lost $800 million (N160 billion) in 11 weeks!


Master of comeback, FEMI OTEDOLA, 52, actually lost $800 million (N160 billion) in 11 weeks from his $1.9 billion net worth as recorded on Sunday, February 14,2016. Today (Wednesday, May 4), the stylish risk taker who was only a small time businessman less than 20 years ago, has $1.1 billion against his name on the Forbes rich list.

Bouncing back is the trade mark of the father of four children whose love for elegant objects of desire is well acknowledged. On at least one occasion, the gentleman whose everyday uniform is simple white brocade buba and sokoto slipped off the Forbes billionaires list for more than one year… but lept back as a bona fide member with aplomb.

His recent losses saw him sliding from $1.9 billion to $1.6 billion, $1.5 billion, $1.2 billion and now $1.1 billion. In February, Nana’s husband was among the world’s 1,000 billionaires, prancing at number 972 on the Forbes list ( against today’s 1,783). It was in early March that the slide in his fortunes began.

The chairman of Forte Oil is reportedly losing share value of the company following sale of bonus shares by investors.

All our top 5 billionaires have at a time lost a chunk of their fortunes… and gleefully bounced back.

Kano born man of the people and the pride of the continent, ALHAJI ALIKO Dangote, 59, once lost more than half of his $25 billion fortunes. Today, he has $17.3 billion against his name.

The generous soul fondly addressed as the guru, Dr. Michael Adenuga, Jnr., 63, had his $4.7 billion net worth bungee jump to $2.8 billion. Today, he’s worth $11.1 billion.

Famfa Oil’s Mrs. Folorunsho Alakija, 65, the designer turned oil Madame, had her fortunes nose dived to $1.47 billion from $2.5 billion. And she trots at $1.6 billion now.

ALHAJI Abdulsamad Rabiu has hovered from $1 billion to $1.2 billion. He is chilling at $1.2 billion today.

– Agbolade Owolabi for

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