Nigerian billionaire Adebayo Ogunlesi loses $100 million as BlackRock hits $14 trillion

Nigerian billionaire Adebayo Ogunlesi has seen his net worth dip to $2.4 billion, reflecting the impact of a recent drop in BlackRock shares, which make up the bulk of his wealth. The world’s largest asset manager, despite reaching $14 trillion in assets under management according to its fourth-quarter earnings report, has seen its stock slip by over 2 percent year-to-date.

According to Forbes, which tracks the fortunes of the world’s wealthiest individuals, Ogunlesi, who received 1,822,926 BlackRock shares and $600 million in cash from BlackRock’s $12.5 billion acquisition of his New York-based Global Infrastructure Partners (GIP), has seen his net worth drop by $100 million—from $2.5 billion at the start of the year to $2.4 billion today.

Ogunlesi loses $100 million amid stock drop

The decline reflects the broader movement in BlackRock’s stock, which has pushed its market capitalization below $170 billion, trimming $100 million from Ogunlesi’s holdings. His net worth consists largely of his BlackRock shares and the $600 million cash component from the GIP deal completed in January 2024. The drop comes even as BlackRock sets new records, highlighting the scale the firm has reached as global demand for investment products grows.

BlackRock, based in New York and led by Chairman and CEO Larry Fink, reported $342 billion in net inflows in the fourth quarter alone, bringing total 2025 inflows to $698 billion. Adjusted earnings per share for the quarter reached $13.16, beating analysts’ estimates of $12.44, while revenue rose to $7 billion, surpassing the $6.75 billion consensus forecast. For the full year, adjusted earnings per share hit $48.09, and revenue grew 19 percent to $24.22 billion.

Global infrastructure leader expands influence

Ogunlesi, 72, co-founded GIP after more than two decades at Credit Suisse, growing it into the world’s largest independent infrastructure manager with more than $100 billion in assets. The firm oversees transport networks, energy projects, and natural resources across several continents. After the acquisition, Ogunlesi joined BlackRock as a senior managing director and became part of its Global Executive Committee. In 2025, he also joined the board of OpenAI, the artificial intelligence company behind ChatGPT.