Adebayo Ogulesi has solidified his position as one of the world’s wealthiest people, with a net worth of $1.7 billion on the Forbes billionaire list.

The achievement secures Ogulesi’s spot as Nigeria’s fifth billionaire and boosts Africa’s growing list of high-net-worth persons.

Ogunlesi gets new position in global ranking

Forbes’ newest valuation confirms a shift eight months after Bloomberg reported his rise among African billionaires.

According to reports, Bloomberg estimated Ogunlesi’s net worth at $2.3 billion following a $12 billion deal with BlackRock Inc., the world’s largest asset management company.

The 70-year-old Nigerian is the Chairman, CEO, and co-founder of Global Infrastructure Partners (GIP), a New York-based infrastructure investment company. His current ranking places him among the world’s top 2,000 wealthiest persons, at 1,945 globally.

Ogunlesi’s firm deal places among the wealthiest

The rise in his wealth is closely tied to GIP’s billion-dollar deal with BlackRock, which was finalized in January this year.

The alliance, valued at $12,5 billion, will establish a leading multi-asset class infrastructure investment company. The deal included a $3 billion cash component and the issuance of about 12 million shares of BlackRock common stock, collectively valued at $9.5 billion.

It brings together a combined client of assets under Management (AUM) surpassing $150 billion across equity, debt, and solution-oriented investments.

Ogunlesi’s career

Ogunlesi’s extensive career includes a tenure as Lead Director at Goldman Sachs Group, Inc., and board positions at many high-profile firms such as Callaway Golf Company, Kosmos Energy Holdings, Terminal Investment Limited, and Freeport LNG.

He spent two decades at Credit Suisse before founding GIP, growing the firm’s portfolio beyond traditional finance into sectors such as transportation, natural resources, and power generation.

The company has evolved into the world’s largest independent infrastructure manager, overseeing over $100 billion in assets. Infrastructure equity funds account for the firm’s $60 billion portfolio.

Ogunsli and GIP’s founders will continue piloting the new platform, leveraging their investment and expertise in operational enhancements.