The Biggest Winners: 5 African Billionaires Who Didn’t Lose Money In 2015

Written by Dana Sanchez
Nigerian billionaire Femi Otedola and his famous daughter DJ Cuppy. Photo:
Nigerian billionaire Femi Otedola and his famous daughter, music producer DJ Cuppy. Photo:

Femi Otedola, Nigeria

Net Worth: $1.8 billion

Up: $778 million (75%)

How he made his money:

Otedola owns more than 70 percent of Forte Oil, Africa’s largest oil marketing company by retail network, according to Forbes. His net worth grew by more than 75 percent as Forte Oil’s stock price reached record heights thanks to new investments in power generation. Shareholders were rewarded with bonus shares in 2014. In 2015, the government-owned Nigerian National Petroleum Corporation named Forte Oil one of 21 local and international companies to be awarded a lucrative crude oil lifting contract.

Source: Forbes