Showing posts with label Forbes richest man. Show all posts
Showing posts with label Forbes richest man. Show all posts

Zara Co-founder, Amancio Ortega Made N658b In One Day, Equivalent To Debt of Nigerian States

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It's unbelievable that one man can  in a single day amass wealth equivalent to estimated total debt, including unpaid salaries of 36 states of Nigeria totaling N658 billion.
The figure is apparently a huge burden to a country like Nigeria, weighed down by revenue shortfalls, under-develpment and leakages, but to Spanish billionaire, Amancio Ortega, Europe’s richest man and second richest man in the world, it is all in a day’s job, or rather, just part of the day’s takings.
On Monday, he added $2.3 billion to his fortune, as shares in Inditex, owner of Zara, the world’s largest clothing retailer, rose 3.9 per cent.
The Spanish billionaire’s gain was $500 million more than the combined increase recorded by everyone else among the world’s 10 richest people tracked by the Bloomberg Billionaires Index. The rise caps a surging performance for Ortega in the first half of this year.
His fortune has risen by $11 billion to $72 billion, an 18 per cent rise, compared to the slight decline in the fortunes of Bill Gates, the world’s richest man, and Warren Buffett, the third-wealthiest person on earth.
A Bloomberg report noted that while Ortega still trails Gates’s $86 billion net worth, his fortune has increased 80 per cent in the past three years, double the growth rate of the Microsoft co-founder.
Source: Leadership
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Orji Uzor Kalu, Tony Elumelu Join Forbes List Of World’s Richest

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In a new list released by Forbes, Nigeria has 2 new faces in the billionaires club.In the category of the  top 50 Richest People in Africa, the former Abia state governor and business man Orji Uzor Kalu and former MD of UBA Tony Elumelu are listed as billionaires. And Nigeria has also overtaken South Africa in the number of wealthiest.
According to Forbes, among the list of Africa’s 50 Richest, Nigeria claims 13 spots while South Africa has 11 billionaires.

Africa’s 50 richest are also wealthier than a year ago. Their combined net worth of $110.7billion is 6.7% more than in Nov. 2013. The minimum net worth needed to join this elite group rose to $510 million, up from $400 million a year ago.”

There are three new billionaires on the list: Orji Uzor Kalu of Nigeria, Tony Elumelu of Nigeria and King Mohammed VI of Morocco.” Forbes reports. See full list Here
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Forbes magazine's 50 Richest Africans 2013 list. Dangote now worth $20b

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Forbes Magazine just released their list of the 50 Richest Africans 2013 and Nigerian industrialist Aliko Dangote is placed at No.1 with a net worth of $20 billion. Africa’s richest are getting richer. In 2003, Forbes counted only two billionaires in Africa – Nicky Oppenheimer and Johann Rupert, both of South Africa, now there are about 30 of them.

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Top 5 Richest Pastors / Men of God in Nigeria

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According to Forbes Magazines, below are the Top 5 richest Pastors ''Men of God '' in Nigeria and their estimated net worths.

Bishop David Oyedapo

Church: Living Faith World Outreach aka winners chapel

Net worth estimated at $150million

2. Chris Oyakhilome

Church: Christ Embassy

Net Worth estimated at $50 million


3 . Temitope Joshua

Church: Synagogue Church of All Nation (SCOAN)

Net Worth estimated at $15 million

4 . Mathew Ashimolowo

Church: Kings international christian centre (KICC)

Net Worth estimated at $10 million

5 . Chris Okotie

Church: Household og God church

Net Worth etimated at $10million
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Aliko Dangote, GCON, Emerges the Richest Man in Africa

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Nigeria’s leading business mogul, Aliko Dangote, who was recently decorated with the GCON Honour by President Goodluck Jonathan, has been confirmed as the richest man in Africa.


This is according to the Forbes official inaugural list of the 40 Richest People in Africa.


Below are those who made it to the top ten in the period under review and other Nigerians who made the list...



Aliko Dangote – (54 years old) - $10.1 billion

Nicky Oppebheimer & co. – (66 years old) - $6.5 billion

Nassef Sawiris – (50 years old) - $4.750 billion

Johann Rupert and Family – (61 years old) - $4.7 billion

Mike Adenuga – (58 years old) - $4.3 billion

Miloud Chaabi – (82 years old) - $3 billion

Naguib Sawiris – (57 years old) - $2.9 billion

Christoffel Wiese – (70 years old) - $2.7 billion

Onsi Sawiris – (81 years old) - $2.6 billion

Patrice Mosepe – (49 years old) - $2.5 billion

Other Nigerians who made the list are Jim Ovia 17th position with $775M, Oba Otudeko 24th position with $550M and Hakeem Bello Osagie 28th position with $450M...

Available statistics also indicates that the combined wealth of the 40 richest Africans is $64.9 billion, while Thailand’s 40 richest stood at $45 billion and Taiwan’s 40 richest is $92.7 billion.
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Forbes: The Richest People in America 2011

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Bill Gates
Name:Bill Gates
Rank: 1
Net Worth: $59 Billion
Age: 55
Source: Microsoft
Residence: Medina, WA

Microsoft tycoon Bill Gates’ top mission is to end polio, which still exists in four countries and requires $1 billion a year for vaccinations. His foundation contributes $200 million each year and all together Gates has given away $28 billion to causes. Just one-fourth of his net worth is still held in Microsoft, the rest is in private equity, global stocks, bonds and private companies. Gates is married and has three children. Gates is a Harvard drop out. He is number 1 on the Forbes 400 list, 10 on the Forbes Powerful People list and 2 on the Forbes Billionaires list.


Name:Warren  Buffett
Rank: 2
Net Worth: $39 Billion
Source: Berkshire Hathaway
Residence: Omaha, NE

Warren Buffett, is the second richest man in America. In August he penned an opinion piece in the New York Times arguing that tycoons need to pay more taxes. Meanwhile, shares of his conglomerate, Berkshire Hathaway, have fallen 10% since last August. Along with Bill Gates and Larry Ellison, Buffett continues to push the Giving Pledge, wrangling new tycoons to agree to ultimately give away 50% of their fortunes. Buffett is married and has three children. He is number 2 on the Forbes 400 list, 33 on the Forbes Powerful People list and is number 3 on the Forbes Billionaires list.


Name:Larry Ellison
Rank: 3
Net Worth: $33 Billion
Age: 67
Source: Oracle
Residence: Redwood City, CA

Larry Ellison is the co-founder and chief executive of Oracle Corporation, a major enterprise software company. Oracle has recently been in court battling German software firm SAP over alleged software theft and rival HP over Ellison’s hiring of its former chief Mark Hurd. But Oracle stock remains unaffected, up 15% from a year ago. After quietly donating millions to medicine and education, Ellison joined the Giving Pledge at Buffet’s behest in 2010. He is divorced with two children. Ellison is number 3 on the Forbes 400 and is number 5 on Forbes Billionaires list.


Name:Charles Koch
Rank: 4
Net Worth: $25 Billion
Age: 75
Source: Manufacturing
Residence: Wichita, KS

Charles Koch is the chief executive of Koch Industries, America’s second largest private company. His father, Fred Koch, invented a method of turning heavy oil into gasoline. Charles and his brothers (David, Frederick and William) inherited Koch Industries after their father’s death. Charles puts 90% of earning back into the 67,000-employee company, which has helped to fund $43 billion in acquisitions and capital expenditures since 2003. Charles is married with two children. His is number 4 on the Forbes 400 list and is 18 on the Forbes Billionaires list.


Name:David Koch
Rank: 5
Net Worth: $25 Billion
Age: 71
Source: Manufacturing
Residence: New York, NY

David Koch is New York City’s richest resident and together with his brother, Charles, continues to bankroll the conservative insurgency. Koch gets his vast wealth from his $42% stake in Koch Industries, America’s second largest private company with more than $100 billion in sales. The business has investments in pipelines, refineries, fertilizer, fibers and polymers, forest and consumer products and chemical technology. David is best known for his philanthropic as well as political activities, and he sits on many boards including that of the American Museum of Natural History. He is married with three children. He is tied (with his brother) for number 4 on the Forbes 400 list and is 18 on the Forbes Billionaires list.

Christy Walton


Name: Christy Walton
Rank: 6

Net Worth: $24.5 Billion
Age: 56
Source: Walmart
Residence: Jackson, WY
Christy Walton is the world’s richest woman and Wal-Mart widow who inherited her wealth when husband John Walton died in an airplane accident near his home in Wyoming in 2005.  She is number 6 on the Forbes 400 list and 10 on the Forbes Billionaires list.


George Soros
Name: George Soros
Rank: 7

Net Worth: $22 Billion
Age: 81
Source: Hedge funds
Residence: Katonah, NY

George Soros made his billions from hedge funds and received his Bachelors degree from the London School of Economics. He is divorced and has five children. In July he announced that he is turning his fund into a family office, returning just under $1 billion of his $25.5 billion assets to outside investors. Soros has given away more than $8 billion since 1979 to human rights, public health and education groups. In 2010, he pledged $100 million to Human Rights Watch and he has also given away $150 million to Roma Rights. He is number 7 on the Forbes 400 list and 46 on the Forbes Billionaires list.


Name: Sheldon Adelson
Rank: 8

Net Worth: $21.5 Billion
Age: 78 
Source: Casinos 
Residence: Las Vegas, NV

Self-made billionaire, Sheldon Adelson is known as the casino king. His fortune is up $7 billion since last year as his strong position in the casino-crazy Asian markets has pushed stock of Las Vegas Sands up roughly 50% to a recent $48. Nearly 90% of its operating profit comes from Asia as the thriving Marina Bay Sands casino opened in Singapore last year. Adelson also has three resorts in Macau through his majority-owned subsidiary Sands China. Adelson is known for giving back, once saying, “The richer I get, the more money goes to cancer research.” Adelson is a cabdriver’s son who created the computer industry’s marquee event, Comdex, in the mid-1980s. He later sold it to Japan’s Softbank for $862 million in 1995 and later built the $1.5 billion Venetian Resort Hotel Casino and the 1.2-million-square-foot Sands Convention Center in 1997 in Las Vegas. In 2008, Adelson opened the $1.9 billion Palazzo resort. He is ranked number 8 on the Forbes 400 list and 16 on the Forbes Billionaires list.


Name: Jim Walton 
Rank: 9
Net Worth: $21.1 Billion
Age: 63
Source: Walmart
Residence: Bentonville, AR
Alice Walton’s brother and Wal-Mart heir Jim Walton is Chairman and CEO of his family’s Arvest Bank. Today, Wal-Mart has sales of $405 billion and employs more than 2.1 million people across 28 countries. Jim Walton received over $300 million in dividend payouts and serves as chairman of Community Publishers, which operates newspapers in Arkansas, Missouri and Oklahoma. Jim Walton is number 9 on the Forbes 400 list and 20 on the Forbes Billionaires list.



Name: Alice Walton
Rank: 10
Net Worth: $20.9 Billion
Age: 61
Source: Walmart
Residence: Millsap, TX
Wal-Mart heiress Alice Walton graduated from Trinity College in San Antonio, Texas and now runs a horse ranch in central Texas. She is set to open her Crystal Bridges Museum of American Art in Bentonville, Arkansas in November. The museum will include works donated by Walton herself and the Walton Family Foundation. Wal-Mart shares are up 3% over the past year. Walton is number 10 on the Forbes 400 list, 85 on the Forbes Powerful Women list and 21 on the Forbes Billionaires list.



Name: Mark Zuckerberg
Rank: 14
Net Worth: $17.5 Billion
Age: 27
Source: Facebook
Residence: Palo Alto, CA
These days everything Mark Zuckerberg does grabs headlines, whether he's dining with President Obama, donating $100 million to Newark schools or vowing to eat only meat he's killed himself. In August a sale of Facebook shares by Interpublic placed a $66.5 billion valuation on the social network, helping to make him the year's biggest dollar gainer. Despite the jump, he spent a relatively modest $7 million for a Palo Alto house, where he and his longtime girlfriend, Priscilla Chan, now live. The long-anticipated IPO is likely to hit sometime in 2012.




Name: Sergey Brin
Rank: 15

Net Worth: $16.7 Billion
Age: 38
Source: Google
Residence: Los Altos, CA

Name:Larry Page


Rank: 15
Net Worth: $16.7 Billion
Age: 38
Source: Google
Residence: Palo Alto, CA
Larry Page is back in the driver's seat at Google: he took over as CEO in April after ceding the role to Eric Schmidt a decade ago. Now the company must wait to see whether Page's return will boost Google's fortune in the long term. Since his appointment in April, stock price is down 10%. Page and co-founder Sergey Brin have already launched a host of new products this year, aimed at taking on Google's younger rivals. In June, the engine launched its social media project, Google+, a Facebook competitor. Its Groupon killer, Google Offers, is now live in a handful of big city markets. When he's not running the show, Page's personal passions include buying up chunks of residential Palo Alto for a network of houses that use new types of fuel cells, geothermal energy, and rainwater capture. He also rides a Zero X electric dirt bike and an electric sports car from Tesla Motors, in which he and Brin are investors.
Source:forbes
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Jay-Z, Diddy, Kanye West are Forbes' cash kings

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Jay-Z and Kanye West consider themselves the kings of the rap game. Not only have they said as much with the title of their newly released album -- "Watch the Throne" -- but they take every opportunity to brag about their private jets, their cars and anything else with a big price tag.

Whatever you think of their music -- but really, what's not to like? -- it turns out they are justified. Forbes has released its list of the past year's top earners among hip-hop artists -- never mind that Jay-Z is definitively a rapper -- and Jay and Kanye come in at first and third respectively.
Sandwiched in between? Sean "Diddy" Combs.

Jay-Z laps everyone but Diddy, raking in $37 million to Diddy's $35 million. West accrued a paltry-in-comparison $16 million.

While the collaboration between Jay-Z and West has been and will continue to be lucrative, it has also strained an already tense relationship.
So don't get your hopes up for a collaboration between all three.

As for the rest of the list, Lil Wayne, Birdman, Eminem, Snoop Dogg, Dr. Dre, Akon and Ludacris round out the top 10.


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Mike Adenuga Might Be Africa’s Richest Man - Forbes

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Forbes' Mfonobong Nsehe has come again....lol. Read his report below...

Mike Adenuga, a Nigerian oil and telecoms tycoon, might be Africa’s new richest man.

In March this year, Forbes published its annual rankings of the world's richest people. Mike Adenuga, who debuted on the list, was ranked as the second richest Nigerian, with a net worth of $2 billion, while Nigerian Aliko Dangote was valued at $13.8 billion.

But shortly after the list was published, controversy erupted in Nigerian media circles. Several Nigerian analysts and Adenuga’s staff refuted our valuation. I was bombarded with emails and messages requesting to know the criteria we used in valuing individuals’ wealth, and our rationale for valuing Adenuga so low.


In our annual Forbes rankings of the world’s richest, we prefer to be conservative in our estimates. We would rather be too low than too high. When working on the 2011 list of the world’s richest, a Forbes reporter tried to reach Dr. Adenuga’s representatives to verify his assets, but Adenuga, a chronically reclusive tycoon, did not respond. As a result, our valuation of the man was based solely on his stake in his telecom company Globacom Holding, which at the time was worth $2 billion.

However, fresh findings from a variety of sources including staff from some of his offices, the Nigerian Corporate Affairs Commission and analysis from professionals in the energy and telecom sectors indicate that the reclusive telecoms and energy tycoon is easily worth more than $2 billion, and depending upon who you talk to, could be richer than Aliko Dangote, last worth $13.8 billion.

Apart from his 74% stake in Conoil PLC, a Nigerian-listed oil marketing firm he founded (the stake is held through ConPetro Limited, a holding company he fully owns) and his holding in Equitorial Trust Bank, Adenuga owns 100% equity in all his other businesses. Of those, the major assets include Conoil Producing, Nigeria’s largest indigenous oil exploration and production company, which operates six producing oil blocks and holds a 25% stake in Joint Development Zone Block 4, an oil prospecting license which has proven reserves of close to 1 billion barrels of oil and close to a trillion cubic feet of gas.

According to sources at Conoil Producing, the company produces 100,000 barrels of oil per day – much more than any other indigenous exploration firm in the country. In April, Adenuga spent $650 million acquiring Shell’s stake in Oil Mining License (OML) 30, Shell’s most profitable onshore oil block in Nigeria, which is located in the western swamps of the Niger Delta. Adenuga currently controls total equity of Conoil Producing, which analysts estimate could be worth as much as $10 billion. (My calculations are not yet final.)

Among his other assets: mobile telecom firms Globacom Holding and Globacom West Africa, two distinct companies with a combined subscriber base in excess of 30 million people and operations in Nigeria, Ghana, and Benin. Adenuga also single-handedly owns Globacom – at least on paper.

Adenuga also owns equity in Equitorial Trust Bank, one of the few privately-held commercial banks in the country. I haven’t been able to establish Adenuga’s stake in the bank, or its market value. However, Equitorial Trust Bank is one of Nigeria’s less popular banks, so I reckon it won’t be worth so much. The man also owns extensive real estate holdings in some of Nigeria’s most expensive neighborhoods, including the Mike Adenuga Towers, a landmark building in Victoria Island, Lagos. He also owns property in Banana Island – Nigeria’s most expensive neighborhood – and several other properties in Abuja, London, the U.S and Dubai.

Tracking down Adenuga’s net worth is tough work, involving intensive research, series of meetings, conversations and consultations with analysts, journalists, and Adenuga employees. The man himself continually refuses to talk. Speculations are rife in Nigeria that Adenuga might be a front for Nigeria’s former military president, Ibrahim Babangida. So in a real sense, Adenuga might not own it all. However, Adenuga’s people have denied a business relationship between their boss and the former Nigerian ruler.

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