Adebayo Ogunlesi Joins Africa’s Billionaire Ranks After $12.5 Billion BlackRock Deal

Adebayo Ogunlesi, a prominent Nigerian businessman and CEO of Global Infrastructure Partners (GIP), has joined the ranks of Africa’s billionaires, with his net worth reaching an impressive $1.7 billion. This achievement follows a landmark $12.5 billion deal with BlackRock, Inc., the world’s largest asset manager, significantly contributing to Ogunlesi’s wealth increase. With this milestone, Ogunlesi becomes Nigeria’s fifth billionaire, solidifying his place among the continent’s elite.

Ogunlesi’s entry into Africa’s billionaire ranks marks a significant moment for Nigeria, which now ties with Egypt for the second-highest number of billionaires on the continent, with each country boasting five billionaires. South Africa remains the leader with six billionaires. According to Forbes‘ latest valuation, Ogunlesi’s net worth has surged to $1.7 billion, securing his position as Nigeria’s newest billionaire and further enhancing Africa’s growing list of high-net-worth individuals.

This development comes just eight months after Bloomberg reported Ogunlesi’s rise among Africa’s billionaires, with an estimated net worth of $2.3 billion following the monumental deal with BlackRock. Despite the slight difference in valuations, the consensus is clear: Ogunlesi is now firmly entrenched among the world’s wealthiest individuals, currently ranked 1,945th globally.

The recent surge in Ogunlesi’s wealth is closely tied to a major transaction between GIP and BlackRock, finalized in January 2024. This strategic alliance, valued at $12.5 billion, is designed to establish a leading multi-asset class infrastructure investment platform. The deal included a $3 billion cash component and the issuance of approximately 12 million shares of BlackRock common stock, collectively valued at $9.5 billion.

With this transaction, GIP and BlackRock have created a combined client asset under management (AUM) exceeding $150 billion, covering a diverse range of equity, debt, and solution-oriented investments. The deal, which was concluded in the fourth quarter of 2024, is seen as a strategic move to expand GIP’s reach and enhance its operational capabilities.

Adebayo Ogunlesi, 70, is the chairman, CEO, and co-founder of Global Infrastructure Partners, a New York-based infrastructure investment firm. His career, spanning over two decades, has been characterized by his visionary leadership and strategic foresight. Ogunlesi co-founded GIP after a distinguished tenure at Credit Suisse, where he served in various senior roles.

Under his leadership, GIP has grown to become the world’s largest independent infrastructure manager, overseeing more than $100 billion in assets. Infrastructure equity funds account for $60 billion of GIP’s portfolio, while the firm’s investments span sectors such as transportation, natural resources, and power generation. Ogunlesi’s strategic brilliance has expanded GIP’s footprint beyond traditional finance, positioning the firm as a global leader in infrastructure investment.

The recent deal with BlackRock represents another major achievement for Ogunlesi and his partners. The combined platform will be steered by GIP’s founding team, leveraging their deep expertise in investment and operational enhancements. Furthermore, Ogunlesi is expected to be appointed to BlackRock’s Board of Directors at the next scheduled meeting, further extending his influence in the global financial landscape.

Beyond his role at GIP, Ogunlesi’s extensive career includes a tenure as Lead Director at Goldman Sachs Group, Inc., and board positions at several high-profile companies, such as Callaway Golf Company, Kosmos Energy Holdings, Terminal Investment Limited, and Freeport LNG. His work ethic and transformative impact in infrastructure management have earned him a reputation as one of the most respected figures in the investment world.

Ogunlesi’s strategic genius has been evident throughout his career, from his early days at Credit Suisse to his current leadership at GIP. He has consistently demonstrated an ability to identify and capitalize on investment opportunities that others might overlook, driving significant value creation for his clients and partners.

Ogunlesi’s inclusion in Forbes’ billionaire list not only highlights his personal success but also enhances Nigeria’s representation among the world’s wealthiest. With his addition, Nigeria, Africa’s most populous nation, now boasts five billionaires, tying with Egypt for the second-highest number of billionaires on the continent. South Africa remains at the top, with six billionaires.

The tally for South Africa could have been higher had notable figures like former Glencore chairman Ivan Glasenberg and prominent transplant surgeon and businessman Patrick Soon-Shiong been residents of the continent. However, with Ogunlesi’s recent addition, Nigeria’s position in Africa’s billionaire ranking has strengthened, reflecting the country’s growing economic influence and entrepreneurial spirit.

Ogunlesi’s rise to billionaire status is a testament to his remarkable career and strategic acumen. As a leader in the global finance and infrastructure sectors, he has consistently demonstrated an ability to navigate complex markets, identify lucrative opportunities, and execute high-impact deals. His recent success with the BlackRock transaction further solidifies his reputation as a visionary leader in the investment world.

Moreover, Ogunlesi’s achievements serve as an inspiration to many aspiring entrepreneurs in Nigeria and across Africa. His journey from a young lawyer in Nigeria to one of the world’s wealthiest individuals illustrates the potential for success through hard work, strategic thinking, and a commitment to excellence.

As Ogunlesi continues to lead GIP and expand its footprint, his influence in the global financial landscape is expected to grow even further. The recent BlackRock deal marks a new chapter in his illustrious career, and his anticipated appointment to BlackRock’s Board of Directors could provide new opportunities for strategic collaboration and growth.

For Nigeria, Ogunlesi’s rise to billionaire status is more than just a milestone; it represents the country’s potential on the global stage. As more Nigerian entrepreneurs and business leaders achieve success, the country’s economic prospects will continue to improve, fostering greater investment and development opportunities.

Adebayo Ogunlesi’s ascent to billionaire status following the $12.5 billion deal with BlackRock highlights his strategic genius and the impact of his leadership in the global infrastructure investment sector. As Nigeria’s fifth billionaire, Ogunlesi not only enhances Nigeria’s presence among the world’s wealthiest but also showcases the potential for success that exists within the country. His continued influence and future endeavors will likely shape the future of infrastructure investment, both in Africa and globally.