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10 Most Richest People in the world.

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1. Elon Musk – $201 billion (as of October 2021) – Source of Wealth: Tesla, SpaceX, and other ventures
Elon Musk is a South African-born American entrepreneur and businessman who is best known as the founder, CEO, and lead designer of SpaceX and Tesla. In addition to these ventures, Musk has also founded companies such as PayPal and Neuralink, which have been instrumental in advancing technology in various fields.

2. Jeff Bezos – $191 billion (as of October 2021) – Source of Wealth: Amazon
Jeff Bezos is an American entrepreneur and businessman who is the founder and CEO of Amazon, the world’s largest online retailer. Bezos has also invested in other ventures, including Blue Origin, a space exploration company.

3. Bernard Arnault – $155 billion (as of October 2021) – Source of Wealth: LVMH
Bernard Arnault is a French businessman and the CEO of LVMH, a multinational luxury goods conglomerate. LVMH owns some of the world’s most iconic fashion brands, including Louis Vuitton, Dior, and Fendi.

4. Bill Gates – $135 billion (as of October 2021) – Source of Wealth: Microsoft
Bill Gates is an American entrepreneur, software developer, and philanthropist who co-founded Microsoft, one of the world’s largest software companies. Gates has also become a prominent philanthropist, donating billions of dollars through the Bill and Melinda Gates Foundation to support education, healthcare, and poverty alleviation.

5. Mark Zuckerberg – $124 billion (as of October 2021) – Source of Wealth: Facebook
Mark Zuckerberg is an American entrepreneur and the co-founder and CEO of Facebook, the world’s largest social media platform. Zuckerberg has also invested in other ventures, including the Chan Zuckerberg Initiative, a philanthropic organization that focuses on education and healthcare.

6. Larry Ellison – $100 billion (as of October 2021) – Source of Wealth: Oracle
Larry Ellison is an American entrepreneur and businessman who co-founded Oracle Corporation, a multinational computer technology corporation that specializes in developing and marketing software and hardware systems.

7. Larry Page – $97 billion (as of October 2021) – Source of Wealth: Google
Larry Page is an American entrepreneur and computer scientist who co-founded Google, the world’s largest search engine. Page has also invested in other ventures, including flying car company Kitty Hawk and autonomous vehicle company Waymo.

8. Sergey Brin – $95 billion (as of October 2021) – Source of Wealth: Google
Sergey Brin is a Russian-American entrepreneur and computer scientist who co-founded Google with Larry Page. In addition to Google, Brin has invested in other ventures, including biotech company 23andMe.

9. Steve Ballmer – $91.5 billion (as of October 2021) – Source of Wealth: Microsoft
Steve Ballmer is an American businessman and the former CEO of Microsoft. Ballmer is also the owner of the Los Angeles Clippers, a professional basketball team in the NBA.

10. Warren Buffett – $90 billion (as of October 2021) – Source of Wealth: Berkshire Hathaway
Warren Buffett is an American investor, business magnate, and philanthropist who is the CEO of Berkshire Hathaway, a multinational conglomerate holding company. Buffett is widely regarded as one of the most successful investors of all time.

 

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Gabon Invites Dangote To Explore Business Opportunities, Amid Attacks In Nigeria.

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July 24, 2024

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President Brice Oligui Nguema of Gabon has invited Africa’s wealthiest man, Aliko Dangote, to invest in his country.

According to Dangote Industries Limited, the billionaire was asked to explore investment opportunities in Cement and Fertiliser (Urea and Phosphate).

“President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon,” Dangote Group said in a statement.

“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production.

According to the statement, Dangote conversed with Nguema and other top government officials during the visit.

“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity,” Dangote Group said.

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Fuel crisis: Marketers project N700bn monthly subsidy

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July 24, 2024

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Monthly Subsidy: Oil marketers project a monthly subsidy of about N707 billion due to the high landing cost of petrol

Landing Cost: The landing cost of petrol is N1,117 per liter, which is the main reason for the high monthly subsidy

Dangote Refinery: The Dangote Petroleum Refinery is expected to begin petrol production in August, but the company might export the product due to crude oil supply crisis and regulatory challenges

Government Intervention:  The Minister of State for Petroleum Resources, Heineken Lokpobiri, met with officials of Dangote refinery and other stakeholders to address the concerns between Dangote refinery and oil sector regulators and operators

House of Representatives: The House of Representatives inaugurated an investigative committee to look into the non-availability of crude oil to domestic refineries and allegations of deliberate hike in the cost of the product for profiteering

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The House of Representatives has requested for the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) to be suspended while thorough investigations are conducted into the allegations against the Authority.

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July 24, 2024

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The House of Representatives has requested for the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) to be suspended while thorough investigations are conducted into the allegations against the Authority.

After Honorable Esosa Iyawe raised a motion of urgent public importance in the House regarding the immediate necessity to resolve the outage caused by what he referred to as reckless remarks from him, this action was taken.

Hon. Iyawe said, “In their defence, Dangote called for a test of their products, which was supervised by Members of the House of Representatives, wherein it was revealed that Dangote’s diesel had a Sulphur content of 87.6 ppm (parts per million), whereas the other two samples diesel imported showed Sulphur levels exceeding 1800 ppm and 2000 ppm respectively, thus disproving the allegations made by the NMDPRA boss.

“Allegations have been made that the NMDPRA was giving licences to some traders who regularly import high-Sulphur content diesel into Nigeria, and the use of such products poses grave health risks and huge financial losses for Nigerians.

“The unguarded statements by the Chief Executive of the NMDPRA, which has since been disproved, sparked an outrage from Nigerians who tagged his undermining of local refineries and insistence on the continued importation of fuel an act of economic sabotage, as the imported products have been shown to contain high levels of dangerous compounds.”

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