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Tag: Aliko Dangote

  • Why Kanye West is not America’s richest black person

    Why Kanye West is not America’s richest black person

    The global media company and American business magazine, Forbes has frowned at reports that American rapper, Kanye West is the richest black American.

    Forbes focuses majorly on listing and ranking in areas like business, investment, technology, entrepreneurship, leadership and marketing.

    The magazine took to its official Twitter account @forbes on Friday, and tweeted: “No, Kanye West is not the richest black American. On Wednesday, multiple outlets reported that Kanye West is the richest black person in America, worth as much as 6.6 billion dollars’’.

    The news comes after Bloomberg reported that his sneaker brand, Yeezy as well as Yeezy Gap, which had yet to sell one stitch of clothing have a combined value of as much as 4.7 billion dollars.

    “The publication mentioned without going into full details an additional 1.7 billion dollars in assets and it is not true, based on our calculations.

    “Forbes estimates he is worth less than a third of that, or 1.8 billion dollars. That’s a big jump from last May when Forbes first pegged his net worth to be 1.3 billion dollars, but nowhere near as much as the purported 6.6 billion dollars,’’ Forbes said.

    The magazine noted that Vista Equity’s Robert F. Smith remains the richest black person in the U.S. with an estimated worth of 6 billion dollars.

    It also said that Aliko Dangote of Nigeria with 11.8 billion dollars’ worth was the richest black person in the world.

    “The sky-high estimate is the latest of West’s attempts to inflate his net worth in the past, he said that Forbes was purposely snubbing me.”

    “In actuality, it is nothing personal. The Bloomberg story cites a UBS report on his businesses, the same document Forbes saw earlier this month.

    “The bank made a number of assumptions based on projected future earnings, particularly for Yeezy Gap, which hasn’t even been inaugurated yet.

    “Bank documents like this are well-known for painting best-possible-scenario future valuations.’’

    West had been influential in the 21st-century development of mainstream hip hop and popular music.

    He was first known as a producer for Roc-A-Fella Records in the early 2000s, producing singles for several mainstream artists before he joined a solo career as a rapper.

    West released his debut album: “The College Dropout’’ in 2004 to critical and commercial success.

    He founded the record label GOOD Music and had released different songs.

  • Alakija drops off world billionaires list as Aliko Dangote maintains number one spot on Forbes’ African Billionaires list

    Alakija drops off world billionaires list as Aliko Dangote maintains number one spot on Forbes’ African Billionaires list

    Aliko Dangote of Nigeria is Africa’s richest person and has maintained this position for straight 10 years, according to the 2021 Forbes’ Africa Billionaires List released on Friday.

    Also, Mike Adenuga of Globacom, and Abdulsamad Rabiu of BUA Group, both Nigerians, made it to the list as the 5th and 6th richest persons in Africa respectively.

    Forbes stated that in Africa, as elsewhere in the world, the wealthiest came through the pandemic just fine.

    It stated that the continent’s 18 billionaires were worth an average $4.1bn, 12 per cent more than a year ago, driven in part by Nigeria’s surging stock market.

    “For the tenth year in a row, Aliko Dangote of Nigeria is the continent’s richest person, worth $12.1bn, up by $2bn from last year’s list, thanks to a roughly 30 per cent rise in the share price of Dangote Cement, by far his most valuable asset,” Forbes stated in its report.

    The list named the second richest person in Africa as Nassef Sawiris of Egypt, whose largest asset was a nearly six per cent stake in sportswear maker Adidas.

    At number three was Nicky Oppenheimer of South Africa, who inherited a stake in diamond firm DeBeers and ran the company until 2012, when he sold his family’s 40 per cent stake in DeBeers to mining giant AngloAmerican for $5.1bn.

    It said the biggest gainer this year was another Nigerian cement tycoon, Rabiu.

    “Remarkably, shares of his BUA Cement Plc, which listed on the Nigeria Stock Exchange in January 2020, have doubled in value in the past year,” the report stated.

    That pushed Rabiu’s fortune up by an extraordinary 77 per cent, to $5.5bn, adding that Rabiu and his son together own about 97 per cent of the company, giving the company a tiny public float.

    It stated Nigerian Stock Exchange required that either 20 per cent or more of a company’s shares should be floated to the public, or that the floated shares were worth at least N20bn, about $50m, describing it as a paltry sum, to be sure.

    A spokesman for the Nigerian Stock Exchange told Forbes that BUA Cement meets the second requirement,” the report stated.

    It added that while some got richer by the billions, two from the 2020 list of Africa’s richest dropped below the $1bn mark.D

    In fact, the only two women billionaires from Africa had both fallen off the list.

    Forbes calculated that the fortune of Folorunsho Alakija of Nigeria, who owns an oil exploration company, dropped below $1bn due to lower oil prices.

    It said Isabel dos Santos, who since 2013 had been the richest woman in Africa, was knocked from her perch by a series of court decisions freezing her assets in both Angola and Portugal.

    It stated that the 18 billionaires from Africa hailed from seven different countries.

    South Africa and Egypt each had five billionaires, followed by Nigeria with three and Morocco with two.

    Altogether they were worth $73.8bn, slightly more than the $73.4bn aggregate worth of the 20 billionaires on last year’s list of Africa’s richest people.

  • Leadership tussle rocks #EndSARS campaign

    Leadership tussle rocks #EndSARS campaign

    Leadership tussle is seemingly rocking the #EndSARS campaign as protesters seem to be finding it difficult to select those who will be part of a committee to interface with the government.

    It started after unverified reports emerged that last night, some #EndSARS protesters met with Godwin Emefiele, Aliko Dangote, three unnamed Governors and some businessmen.

    According to the reports, one Adebola Williams, Aisha Yesufu and Abudu attended the meeting, in which Williams reportedly acquiesced that the protests should end, and Yesufu and Abudu insisted Nigerians will not back down until all outstanding issues around police brutality are resolved.

    Read some tweets of the altercation on Twitter below:

    https://twitter.com/tunarmania/status/1316292404287242240?s=19

  • Coronavirus-infected Bauchi Governor: Dangote, ministers, governors at likely risk for COVID-19

    Coronavirus-infected Bauchi Governor: Dangote, ministers, governors at likely risk for COVID-19

    A review of the social media timeline of Bauchi State Governor, Bala Mohammed who tested positive to coronavirus, shows that he had physical contacts with billionaire, Aliko Dangote; met the director-general of Nigeria Centre for Disease Control (NCDC), Chikwe Ihekweazu and also attended the National Economic Council meeting in Abuja, where he interacted with several governors.

    The aforesaid activities of the sick Bauchi governor have since raised concerns that those he had personal contacts with may likely be at risk for Covid-19.

    Recall that the governor took the test after it was announced that Mohammed Abubakar, son of former vice president, Atiku Abubakar, had tested positive for the virus on Sunday, March 22.

    The governor also recently travelled to Germany, a high-risk country where he could have also contracted the virus.

    The governor had met Abubakar inside an Abuja-bound airplane in Lagos and reportedly shook his hand on March 17.

    Timeline of Bala Mohammed’s activity flow as it appears on his official handle, @SenBalaMohammed:

    He attended the National Economic Council meeting on March 19. The meeting regularly takes place at the Presidential Villa and comprises all 36 state governors, the Governor of the Central Bank of Nigeria and other top government officials.

    After his return from Germany, the governor led a high-level delegation from Bauchi State to the office of the NCDC, led by its director-general, Chikwe Ihekweazu.

    The meeting was to discuss Bauchi’s preparedness and response to Lassa fever and other infectious diseases.

    He met with billionaire, Aliko Dangote

    According to reports, the meeting with Dangote was on March 17 in Lagos, but the photo was posted on governor Mohammed’s timeline on the 18th of March, 2020.

    The governor had similarly tweeted about his meeting on March 17 with the Minister of Agriculture and Rural Development, Sabo Nanono, but it’s unclear if that happened before his contact with Mohammed.

    The governor also launched an affordable housing project in Bauchi that was attended by scores of people on March 21.

    Governor Mohammed could have been infected in Germany

    While the governor is believed to have been infected through contact with Mohammed (Atiku’s son), he had visited Germany before the two met. Germany is a high-risk country that has recorded nearly 30,000 cases of coronavirus.

    President Muhammadu Buhari’s chief of staff, Abba Kyari, recently tested positive for coronavirus after returning from the European country.

    During a meeting in Germany on March 13, the governor signed a Memorandum of Understanding (MOU) with Water is Right Foundation, led by its founder, Rolf Stahlhofen.

    The governor failed to adhere to the directive of the Nigeria Centre for Disease Control (NCDC) for returnees from high-risk countries to self-isolate themselves for 14 days to watch for possible symptoms and avoid infecting others unknowingly.

  • Dangote more influential, powerful than Buhari – Senator

    Dangote more influential, powerful than Buhari – Senator

    Following his withdrawal from the race to represent the people of Bayelsa east senatorial district in the National Assembly, Senator Ben Murray-Bruce has said Aliko Dangote is far more influential and powerful than President Muhammadu Buhari.
    TheNewsGuru (TNG) reports the Bayelsa politician queried why politicians think power only comes from political offices and stressed: “Our politicians need a paradigm shift”.
    “Why do politicians think power only comes from political offices? Buhari isn’t the most powerful Nigerian. Aliko Dangote is far more influential and powerful than him.
    “Our politicians need a paradigm shift,” Bruce, who gave way to allow for someone else from his constituency to fly the banner of the Peoples’ Democratic Party (PDP) in 2019, took to his official Twitter handle to say.
    Dropping his senatorial ambition, Bruce said “It is without doubt that I have tried to discharge my duties as a legislator and representative of my people creditably to the best of my ability so far. My voice has been very loud on the issues that matter to our people and our country at all time”.
    In his recent comments on Thursday after his withdrawal statement, he advised politicians to emulate him and not hold on to power, stressing that holding on to honour is more profitable.
    “Don’t hold on to power. Hold on to honour and power will ever follow you,” he said.
    Recall, TNG publisher, Mr. Mideno Bayagbon had in an editorial called on Nigerians to prevail on Dangote to rein in and salvage the lot of the nation.
    “The question may be asked, why Aliko Dangote? First, he is interested; but afraid. Secondly, he is one Nigerian who stands the biggest risk of losing the most in a collapsed Nigeria.
    “He has the most investments. He is tried and tested in business and in, wait for it, politics. Has there been a government in Nigeria in the last thirty years that did not have to deal with Dangote?
    “He is humble, detribalized, shrewd, ambitious; a hard nut capitalist. He has friends and investments across the nation.
    “Though he, at a time, tested the waters before hurriedly rushing back into his business cocoon, there is no doubt that if a credible platform adopts him and the juggernauts back him, he stands a credible chance of leading Nigeria out of the abyss.
    “His fear of what happens to his businesses if he loses, is real but surmountable. A time like this demands a man of Dangote’s pedigree,” the editorial read.
     

  • Breaking: Wealthiest person in modern history emerges

    Jeff Bezos, founder of Amazon, American electronic commerce and cloud computing company based in Seattle, Washington has reached a net worth of $150 billion.

    TheNewsGuru reports Jeff Bezos reached the $150 billion net worth to become the wealthiest person in modern history.

    Born Jeffrey Preston Bezos, he is an American technology entrepreneur, investor, philanthropist, and the founder, chairman, and chief executive officer the world’s largest online retailer.

    According to Bloomberg Billionaires Index, the Amazon founder’s net worth broke $150 billion in New York on Monday morning, which is about $55 billion more than the fortune of Microsoft. co-founder, Bill Gates, who is the world’s second-richest person.

    Bezos, 54, has now topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly in 1999 at the height of the dot-com boom would be worth about $149 billion in today’s dollars.

    That makes the Amazon chief executive officer richer than anyone else on earth since at least 1982, when Forbes published its inaugural wealth ranking.

    Aliko Dangote, ranking at 105th position, and Mike Adenuga, ranking at 500th position are the billionaires to make the list from Africa.

     

  • JUST IN: Aliko Dangote meets President Buhari in Washington [PHOTOS]

    President Muhammadu Buhari on Sunday in Washington met with Africa’s richest person, Alhaji Aliko Dangote and Mr. Tope Shonubi of Sahara Energy.

    https://www.instagram.com/p/BiKIPt2HxUz/?taken-by=thenewsgurung

    TheNewsGuru reports President Buhari, shortly after his arrival, met with the duo at the Blair House, the Presidential Guest House where he will be staying throughout his 3-day working visit in the US.

    Mr. Tope Shonubi of Sahara Energy meets President Muhammadu Buhari in Washington
    Mr. Tope Shonubi of Sahara Energy meets President Muhammadu Buhari in Washington

    Buhari, who arrived in the US through the Joint Base Andrews Airport, Washington, is expected to hold a bilateral meeting with President Trump and a working lunch on April 30.

    Aliko Dangote meets President Muhammadu Buhari in Washington
    Aliko Dangote meets President Muhammadu Buhari in Washington

    According to Buhari’s Special Adviser on Media and Publicity, Mr Femi Adesina, in a statement, the meeting is to discuss ways to enhance the strategic partnership between the two countries.

    He said the meeting would also advance shared priorities, such as: promoting economic growth, fighting terrorism and other threats to peace and security.

    “The meeting will further deepen the US-Nigeria relationship as the United States considers Nigeria’s economic growth, security and leadership in Africa to be critical aspects of their strategic partnership.

    “Later in the day, President Buhari will meet with a group of business persons in agriculture and agro-processing, dairy and animal husbandry,’’ he added.

    He said that ahead of the visit by the President, meetings had been scheduled between senior Nigerian Government officials and executives of major US companies in the areas of agriculture, aviation and transportation.

    He said that in the area of aviation, the Nigerian officials would be meeting with Boeing, the largest aircraft manufacturer in the world, on the National Carrier Project.

    The presidential aide said: “On agriculture, they will meet with large equipment manufacturers with focus on harvesting and post harvesting equipment.

    “In the area of transportation, the officials will meet with the GE-led consortium for the implementation of the interim phase of the narrow gauge rail concession.

    “In the interim phase, a substantive concession agreement will be negotiated and finalized to provide the consortium the opportunity to invest an estimated $2bn, to modernize the rail line from Lagos to Kano (Western Line) and from Port Harcourt to Maiduguri (Eastern Line).

    “During the meeting, the concession framework and the interim phase framework agreements are expected to be signed.’’

    He further disclosed that Nigerian officials would also meet with US-EXIM Bank and the US Overseas Private Investment Corporation to explore competitive financing arrangements.

    It is noteworthy that in 2017, Nigeria’s Federal Ministry of Industry, Trade and Investment and the United States Department of Commerce signed a Memorandum of Understanding (MoU) to promote and encourage commercial and investment ties between Nigeria and the United States.

    This is with initial focus on infrastructure, agriculture, digital economy, investment and regulatory reforms.

     

  • Contravention: FG to probe Dangote’s company, 6 others

    Contravention: FG to probe Dangote’s company, 6 others

    Federal government has reportedly threatened to prosecute Alheri Engineering Company Limited, a telecoms business unit of Dangote Group and six other companies for contravention Nigerian communications laws, according to Technology Times.

    Alheri is the telecoms business unit of the business group owned by businessman Aliko Dangote which was granted a 3G licence by national telecoms regulator, the Nigerian Communications Commission (NCC).

    Mr Tony Ojobo, director of Public Affairs at NCC was quoted by Technology Times as saying that a 14-day pre-enforcement notice has been issued the seven companies for allegedly operating with expired licences.

    NCC said that the alleged default by the affected communications companies contravenes Section 31(1) of the Nigerian Communications Act 2003 — the law guiding telecoms operation in the country.

    NCC cited the relevant provisions of the Section to read thus: “No person shall operate a communications system of facility nor provide a communications service in Nigeria unless authorized to do so under a communications licence or exempted under regulations made by the Commission under this Act.”

    Meanwhile, “Alheri Engineering Company Ltd, a Dangote Group company, was issued a third generation (3G) licence by the Federal Government of Nigeria in 2007, allowing the company to provide carrier and 3G wireless services,” the website of Dangote Group says about its telecoms unit.

    According to NCC, the six other affected companies include First Astria Comm. Tech Limited; Elcomserve Nigeria Limited; Egogo Nigeria Limited; EM West Africa Limited; TC Africa Telecoms Networks Ltd and MJ Global Network Services Limited.

    Alheri Engineering came into limelight in 2007 when it won a 3G licence for $150 million in a spectrum sale by NCC.

    The Dangote company pulled off this feat alongside Celtel Nigeria Ltd. (now Airtel Nigeria); Globacom Ltd and MTN Nigeria Communications Ltd that also won the same licence at $150 million each.

    The Alheri 3G licence was later sold by the company to Etisalat Nigeria by the Dangote Group after the former’s telecoms market entry into the country as the fifth GSM Network operator.

    Meanwhile, NCC has threatened to prosecute the affected companies for allegedly operating with expired licences.

    According to Ojobo, “Pre-enforcement notice is hereby given to the said companies to within 14 days from the date of this publication commence the renewal process of their expired licences. Failing which, the Commission may consider appropriate enforcement action, including, but not limited to reporting your activities to the Nigeria Police for investigation and prosecution.”

    According to him, “Members of the public who deal with these companies are hereby advised to insist on sighting a valid licence or evidence of licence renewal process.”

     

  • Lovely pictures from Folorunsho Alakija son’s wedding in England

    A widower and father-of-one, Folarin who’s the son of Nigerian billionaire, Folorunsho Alakija married his woman Nazanin in a lavish wedding on Saturday in Blenheim Palace, England.

    Aliko Dangote, Toyin Saraki and other dignitaries attended the event.

    See more photos here…

     

  • Aliko Dangote in a selfie moment with TheNewsGuru Publisher, Mideno Bayagbon

    Aliko Dangote in a selfie moment with TheNewsGuru Publisher, Mideno Bayagbon

    The Publisher of Nigeria’s leading online news portal, TheNewsGuru.com, Mr. Mideno Bayagbon on Saturday met Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote at a business parley in Sheraton Hotel, Lagos.

    See pictures below:

     

    Aliko Dangote in a selfie moment with TheNewsGuru Publisher, Mideno Bayagbon