Saturday 8 June 2024

Weekend Focus on Adebayo Ogunlesi Africa’s newest billionaire

Nigerian banker and founder of Global Infrastructure Partners (GIP), Adebayo Ogunlesi, pole-vaulted into the ranks of Africa's billionaires with an estimated net worth of $2.3 billion with the sale of his company to BlackRock Inc. at an estimated cost of $12.5 billion.

A recent update by Bloomberg reveals that the surge in Ogunlesi's net worth, led by US Larry Fink, ended a historic agreement to acquire the infrastructure firm after the sale to BlackRock.

Ogunlesi ranked among Africa's top 20 billionaires According to reports, the deal consists of $3 billion in cash and approximately 12 million shares of GIP's common stock estimated at $9.5 billion, setting the 70-year-old Nigerian among the continent's wealthiest persons.

With a 17.5% share in GIP, Ogunlesi is now one of Africa's top 20 billionaires.

He founded BlackRock in May 2006. Under his leadership, the company became one of the world's largest independent infrastructure managers, boasting over $100 billion in assets.

The deal with BalckRock will reportedly close in the third quarter of this year to create a solid multi-asset class infrastructure platform with a clientele exceeding $150 billion.

GIP acquires London City Airport BlackRock's acquisition of the company is a critical milestone for Ogunlesi and GIP, which diversified its portfolio into the transport sector, natural resources, and power generation.

BlackRock is committed to appointing Ogunlesi to its Board at the next meeting after closing the deal, emphasizing the importance of his leadership and expertise.

The GIP management team, including Ogunlesi and the four founding partners, will lead the combined platform, leveraging their investment and operational proficiency. Mark Zuckerberg becomes world’s 5th richest man earlier reported that Facebook founder and Meta Platforms CEO, Mark Zuckerberg, emerged as the world’s fifth richest person on Forbes and Bloomberg Billionaire Index. Zuckerberg, whose wealth surged in 2023, overthrew Bill Gates on Forbes following the rise of Meta stocks in the past months.

According to Forbes Real Time Billionaire data, Zuckerberg’s net worth is estimated at $130.2 billion compared to Bill Gates’ $119 billion.

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