Femi Otedola (born 4 November 1962)is a  52 years old Nigerian businessman, philanthropist, and former chairman of Forte Oil PLC, an importer of fuel products As of 2022 Femi Otedola’s net worth is $2 billion. Femi Otedola of Nigeria is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Originally a Nigerian subsidiary of British Petroleum (BP), Forte Oil has more than 500 gas stations across the country. Otedola is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate, and finance.

With a net worth of $1.85 billion, it would not be a struggle to buy the latest most expensive car in the world.  Among the cars owned by the successful businessman include; the BMW series, Roll Royce Phantom Mercedes-Benz AM 63, and AG Wagon. Femi Otedola is also a proud owner of a private jet and a Yacht Femi owns several houses in Nigeria and abroad. He has houses in Lagos, Port Harcourt, Ikoyi, Enugu, and Kano

Otedola was born on 4th November 1962 in Ibadan, the capital of Oyo State, southwest Nigeria, into the family of the late Sir Michael Otedola, Governor of Lagos State from 1992 to 1993.

CAREER

After putting in a lot of effort to get known and raise some money, Otedola finally made his first significant breakthrough in the year 2003, When he obtained sufficient funds to finally launch and start up his own company, Zenon Petroleum, and Gas Ltd.

He did this after working hard to get known and raise some money to reinvest, Because of the effort and attention that he put into his work,

He rose quickly through the ranks of the company in less than two years and became a force to be reckoned with. By the year 2005, a number of other major corporations came knocking for collaboration,

Including MTN, Unilever, Nestle, Guinness, and even the Dangote group, They all had begun to source the services of Zenon for their fuel requirements. Zenon went on to become one of the world’s largest independent suppliers of diesel, In the year 2015, Otedola decided to rebrand the company and broaden its scope.

This led to him changing the company’s name to Forte Oil, And then he proceeded to sell a major portion of the company’s shares and assets to Mercuria Energy Group.

This decision not only resulted in a profit for the company of over $200 million, But it also gave the company access to a larger and more lucrative worldwide market to sell for. Otedola has shown throughout his career that he is able to meticulously examine the market, And also hold off on making a move until it is in his best interest to do so. It is this singular leadership and management expertise that has propelled him to the position he has today.

Philanthropy

Otedola has made several donations to the Michael Otedola University Scholarship Scheme, which was established in 1985 to give underprivileged students in Lagos State access to higher education.

In 2005 Zenon donated N200 million to the scheme’s fund. Since its inception, the scheme has benefited more than 1,000 students. In 2005, Otedola made an N300 million personal donation to the completion of the National Ecumenical Centre—Nigeria’s primary place of Christian worship—in Abuja.

In 2007 he was among a group of donors who gave N200 million to the State Security Trust Fund in a drive to reduce crime in Lagos State. Later that year he donated N100 million to the Otedola College of Primary Education in Noforija, Epe. In 2008 he donated N80 million to the Faculty of Agriculture at the University of Port Harcourt. Femi Otedola fulfilled his pledge of 25,000 dollars to the Super Eagles in the match against Algeria in the 2019 AFCON

Femi Otedola’s first daughter, Tolani, is a singer. She was born to Otedola and his former lover, Olayinka Odukoya Later, Femi married Nana Otedola and had two more daughters—Florence Ifeoluwa and Elizabeth Temi—and a son, Fewa. Florence Otedola, aka DJ Cuppy, is a DJ and music producer, as well as a tourism ambassador for Nigeria. Her younger sister, Temi, is an actress, a style blogger, and an aspiring designer. Otedola has homes in Lagos, Abuja, Dubai, London, and New York City.