Adebayo Ogunlesi, known for his work ethic and transformative impact in infrastructure management, has strengthened his position as one of the world’s wealthiest people, with his net worth reaching $1.7 billion.
This achievement solidifies his status as Nigeria’s fifth billionaire and adds to Africa’s burgeoning roster of high-net-worth individuals.
Forbes’ most recent valuation reflects a shift just eight months after Bloomberg highlighted Ogunlesi’s climb among Africa’s billionaires.
Bloomberg’s wealth was assessed at $2.3 billion after a massive $12.5 billion deal with BlackRock, Inc., the world’s largest asset management.
Ogunlesi, age 70, is the chairman, CEO, and co-founder of Global Infrastructure Partners (GIP), a New York-based infrastructure investment corporation. He is now ranked 1,945th among the world’s richest people.
The increase in Ogunlesi’s fortune is linked to GIP’s billion-dollar agreement with BlackRock, which was completed in January 2024. This strategic agreement, worth $12.5 billion, aims to build a premier multi-asset class infrastructure investment platform.
The transaction includes a $3 billion cash component as well as the issuing of roughly 12 million BlackRock common stock shares worth $9.5 billion in total.
The transaction, which closed in the fourth quarter of 2024, brings together a combined client AUM of more than $150 billion across equity, debt, and solution-oriented investments.
In addition to his GIP, Ogunlesi has held positions as Lead Director at Goldman Sachs Group, Inc. and on the boards of several high-profile firms, including Callaway Golf Company, Kosmos Energy Holdings, Terminal Investment Limited, and Freeport LNG.
Ogunlesi’s tenure at Credit Suisse, which lasted over two decades before co-founding GIP, was distinguished by his innovative leadership. His foresight expanded GIP’s portfolio beyond traditional banking to include transportation, natural resources, and power generation.
Under his guidance, GIP has grown into the world’s largest independent infrastructure manager, managing over $100 billion in assets, with infrastructure equity funds accounting for $60 billion of the firm’s total portfolio.
Following the unprecedented agreement with BlackRock, Ogunlesi and GIP’s founding partners will continue to drive the newly integrated platform, drawing on their extensive experience in investing and operational innovations. Ogunlesi’s power is projected to grow further, with a possible appointment to BlackRock’s Board of Directors at the next planned meeting.
Bayo Ogunlesi’s presence on Forbes’ billionaires list recognizes his individual success and strengthens Nigeria’s position among the world’s wealthiest.
With his arrival, Nigeria, Africa’s most populous country, now ties with Egypt, both with five billionaires on the list, while South Africa remains the African country with the most billionaires, with six.
South Africa’s tally may have been higher if billionaires such as former Glencore chairman Ivan Glasenberg and famed transplant surgeon and businessman Patrick Soon-Shiong had lived on the continent.
