Blackrock Stock Slide Wipes 100 Million Off Adebayo Ogunlesi's Net Worth

Adebayo Ogunlesis net worth declined to 2.2 billion as BlackRock shares fell 11.5 since Jan. 31, cutting his stake's value to 1.79 billion.

A 4-trillion U.S. market sell-off, driven by trade tensions and economic concerns, contributed to BlackRocks recent stock price decline.

Ogunlesi became a billionaire after GIPs 12.5-billion deal with BlackRock, securing 1.8 million BlackRock shares and 600 million in cash.

After seeing his net worth climb to 2.3 billion earlier this year, Nigerian billionaire Adebayo Ogunlesi has lost 100 million since Jan. 2, following a drop in the share price of BlackRock, the worlds largest asset manager.

BlackRock shares on the New York Stock Exchange NYSE surged from 955 in early January to 1,075 by the end of the month, pushing the value of Ogunlesis stake in the company to 1.9 billion and driving his net worth above 2.3 billion.

But since Jan. 31, BlackRocks stock has taken a hit, falling from 1,075 to 951.73 as of Friday, March 22. This decline has reduced the market value of Ogunlesis BlackRock stake to 1.79 billion, bringing his net worth down to 2.2 billion, according to Forbes .

The downturn in BlackRock shares comes amid broader volatility in the U.S. stock market, which has shed over 4 trillion in recent weeks . Investor concerns over President Donald Trumps escalating trade disputes with major trading partners, along with signs of slowing economic growth and weak consumer sentiment, have contributed to market uncertainty.

Ogunlesi, 71, co-founder of Global Infrastructure Partners GIP, sits on BlackRocks board and recently joined the board of OpenAI, the research group behind ChatGPT. He became a billionaire after GIP finalized a multi-billion-dollar deal with BlackRock in January 2024.