View Full Version : [General] Femi Otedola joins forbes list of billionaires

Mar 12, 2009, 08:56 PM
#601 Femi Otedola


Net Worth:$1.2 bil
Fortune:self made
Country Of Citizenship:Nigeria
Marital Status:married, 4 children

Politician's son used a majority stake in African Petroleum to get himself appointed its chief executive last year. Now he plans to merge it with his private firm, Zenon, to create the continent's largest oil company. Deal has stalled in the face of government concerns about a monopoly, with his assets temporarily frozen last year. Nigerian regulators lifted the ban in January. Conflict abounds in Otedola's life: he claims his friend and fellow billionaire, Aliko Dangote, broke a gentleman's agreement when he thwarted Zenon's bid to buy Chevron's local subsidiary in September. In retaliation, starting buying shares in Dangote's publicly traded sugar company.

Mar 12, 2009, 09:35 PM

But I'm unable to fully understand or appreciate why these type of information, posted alone are considered newsworthy.

Unless there is a larger point than to make than XYZ is rich?

Anyway, I'm sure this must be important and useful to know.

Different folks , different strokes I guess....