Bayo Ogunlesi’s Wealth Soars to $2.3 Billion Following BlackRock’s Acquisition of GIP

Bayo Ogunlesi's Wealth Soars to $2.3 Billion Following BlackRock's Acquisition of GIP

Bayo Ogunlesi’s Billionaire Status Confirmed

Bayo Ogunlesi, the mastermind behind Global Infrastructure Partners (GIP), has officially joined the ranks of the world’s billionaires. This significant financial milestone comes in the wake of BlackRock’s decision to purchase his firm for a staggering $12.5 billion. Bloomberg’s report, published two days post-announcement, highlights this remarkable change in Ogunlesi’s net worth.

The Landmark Deal with BlackRock

Described as BlackRock’s most significant transaction in over a decade, this deal comprises a $3 billion cash payment combined with around 12 million shares, collectively valued at $9.5 billion. Both corporate giants anticipate finalizing this deal in the third quarter of 2024. As a result of this agreement, Ogunlesi, who also serves as GIP’s CEO, has seen his net worth skyrocket to $2.3 billion. This financial leap has earned him a spot on the Bloomberg Billionaire Index.

Ogunlesi’s Journey to Billionaire Status

Ogunlesi’s journey to this monumental achievement began far from the world of billion-dollar deals. Originally from Nigeria, he started his career as a lawyer at the New York City law firm Cravath, Swaine & Moore. He then transitioned into investment banking, working at First Boston (which later became Credit Suisse) and Goldman Sachs. In 2006, Ogunlesi’s entrepreneurial spirit led him to establish Global Infrastructure Partners. This private equity firm, focusing on investing in critical infrastructure like airports, seaports, and energy projects, has since grown to manage over $70 billion in assets, making it a global leader in its field.

Ogunlesi now joins other Nigerian billionaires, including Aliko Dangote with a net worth of $15.3 billion, the richest person in Africa. Additionally, the recent inclusion of Femi Otedola, chairman of Geregu Power, has increased the number of Nigerian billionaires on the Forbes list to four. These four individuals collectively hold a wealth of $29.10 billion, accounting for 28 percent of the $103.70 billion net worth of the top 20 African billionaires listed as of last Friday. However, Forbes has not yet included Ogunlesi in its list of billionaires.