The Billionaire Who Lost Everything
The Billionaire Who Lost Everything. Article Written By Unknown Person 📚📔📒📓📑📙📗📘 This is a true life story of Nigerian billionaire Femi Otedola on the day he lost everything Life was rosy for Femi Otedola until it took a sudden turn leaving him billions in the red. He had to start all over again. In 2008, a shipment containing one million tons of diesel set sail, heading for the shores of Nigeria. The owner of the vessel, Femi Otedola, Chairman of Forte Oil, a petroleum and power generation company, had grown the company to one of the largest in Nigeria, with over 500 filling stations, according to Forbes. The growth had been rapid and profits were at an all-time high. Then disaster struck. “I had about 93 percent of the diesel market on my fingertips. All of a sudden oil prices collapsed and I had over one million tons of diesel on the high seas and the price dropped from $146 to $34” —Femi Otedola. That was only the beginning of his problems. The naira was subsequently dev