Forbes Tags Femi Otedola As Africa’s Poorest Billionaire, Fans React: “No Wonder Cuppy Sold Her Car”
- Forbes listed Femi Otedola as Africa’s “poorest billionaire” in its 2026 Africa Billionaires ranking after his net worth dropped to about $1.3 billion
- The ranking showed Africa’s 23 richest individuals now control a combined wealth of $126.7 billion
- The report has sparked reactions online as it also showed Aliko Dangote’s spot on the competitive list
Nigeria’s billionaire businessman Femi Otedola has been tagged as Africa’s “poorest billionaire” in the latest ranking released by Forbes, sparking reactions from Nigerians on social media.
According to the 2026 Africa Billionaires List, the continent’s wealthiest individuals have grown significantly richer over the past year.
Source: Instagram
The combined fortune of Africa’s 23 billionaires rose to about $126.7 billion, largely driven by a strong rally in regional equity markets.
Despite the general surge in wealth, Otedola and Moroccan businessman Anas Sefrioui are tied at the bottom of the list with a net worth of $1.3 billion, making them the “poorest” among Africa’s billionaires.
Forbes reported that Otedola’s fortune dropped by roughly $200 million after he sold a large portion of his stake in Geregu Power Plc at a price lower than the company’s market value.
The report also revealed that 14 of the 23 billionaires on the list are self-made, meaning they built their fortunes themselves rather than inheriting them.
It further highlighted a demographic gap among Africa’s wealthiest, noting that there are currently no female billionaires on the continent, while most of the listed billionaires are above 60 years old. The youngest among them is Tanzanian businessman Mohammed Dewji, who is 50.
Country-wise, South Africa leads the continent with seven billionaires, followed by Egypt with five. Nigeria has four billionaires on the list, while Morocco has three.
Meanwhile, Nigerian industrialist Aliko Dangote retained his position as Africa’s richest person with an estimated net worth of $28.5 billion. His wealth increased by about $4.6 billion over the past year after shares of Dangote Cement surged by nearly 69 per cent.
Following the release of the ranking, many Nigerians took to social media to react humorously to Otedola’s position. Some joked that the development might explain why his daughter, popular DJ DJ Cuppy, recently sold one of her luxury cars.
One user wrote: “So Otedola is now Africa’s poorest billionaire? No wonder DJ Cuppy sold her car.”
See the post below:
Femi Otedola trends online
Legit.ng compiled the reactions below:
@jojo_kay7 said:
"Oh! no wonder, Cuppy sold her car ."
@rubby402 said:
"E no go poor ke you know how much him spend for temi weeding including properties from France."
itzdeprinx said:
"Poor means he’s on the verge of losing his billionaire status. For instance 1 million naira doesn’t make one a millionaire."
momentum_healthcare said:
"In the words of a famous philosopher- inside Evian, another Evian Dey inside🙏🏾."
bouhlaer said:
"Even the person who wrote this article doesn’t come close to Ote$$$. Man weh God don bless."
ihesie_naturalhealth said:
"It's a big sacrilege to add Poor & Billionaire in the same sentence. A dangerous TABOOO."
@Quwam54819554 said:
"If nah poorest we naija youth way our papa still Dey try small small nko ? Omoor Watin dem give Forbes smoke abeg."
Source: Instagram
Femi Otedola breaks fast with Dangote in Abu Dhabi
Earlier, Legit.ng reported that Femi Otedola visited his friend Aliko Dangote at his Abu Dhabi home.
The investor shared a photo taken while he was with Dangote and his family during their meal together. According to him, he decided to break fast with the billionaire and described it as good company.
In the picture, most people at the table had food on their plates, while Otedola's plate appeared empty. A young girl sat at the head of the table, prompting interesting reactions from fans about the family's seating arrangement.
Source: Legit.ng
