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Billionaire Jay-Z’s Net Worth Jumps 40% With Sales Of Streaming Service Tidal, Champagne Brand

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Jack Dorsey and Jay-Z

Over the past two weeks, the rapper struck deals to sell his boutique music streaming service and half of his champagne brand Armand de Brignac, adding an enormous pile of cash to his already massive fortune.

“Hip-hop from the beginning has always been aspirational,” Jay-Z said in 2010 when Forbes got a ringside seat to the rapper’s first meeting in Omaha with billionaire investor Warren Buffett. “It always broke that notion that an artist can’t think about money as well.”

More than a decade later, the rapper-turned-billionaire is showing exactly what he means: In his second major deal in as many weeks, Jay-Z inked a deal to sell  a majority stake in music streaming company Tidal to Jack Dorsey’s mobile payment company Square for $297 million. The transaction valued the company at about $450 million—$150 million more than Forbes’ 2019 estimate. Forbes figures he netted out $149 million in cash and stock—and got a board seat—after buying back 33% of Tidal from T-Mobile earlier this week and then selling that and the third he already owned. Tidal’s “artist shareholders” will continue to have a stake in the company, and Jay-Z will own a small percentage, as well.

This comes a week after he sold half of his Armand de Brignac champagne to LVMH in a deal that valued the luxury liquor company at about $640 million.

The two deals helped lift the fortune of hip-hop’s first billionaire to $1.4 billion, up from $1 billion.

It’s just the start.  His diverse and growing business includes the remaining 50% stake in the $300-per-bottle Armand de Brignac, as well as D’Usse cognac and a collection of less-sexy startups including insurance startup Ethos and salad chain Sweetgreen. He also owns a chunk of his own music, shares multiple multi-million dollar mansions with his wife Beyoncé and has a growing art collection.

In 2005 he laid down the now prophetic lyric, “I’m not a businessman, I’m a business, man.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Delta Air Lines Flight Diverts to Togo After Passenger Dies Midair

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Delta Air Lines

A Delta Air Lines flight from Atlanta to Lagos was diverted to Togo following the midair death of a yet-to-be-identified passenger.

The unfortunate incident occurred approximately three hours before the flight’s scheduled arrival in Lagos, prompting the crew to address a health emergency onboard.

Despite initial intentions to proceed to Lagos, adverse weather conditions, including heavy thunderstorms, forced the pilots to divert the plane to Lome, Togo.

The flight, Delta Air Lines’ A330-200 aircraft, was carrying 215 passengers at the time. Upon landing in Lome, the aircraft underwent refueling procedures and awaited clearance amidst the inclement weather.

Subsequently, after an additional delay in Togo, the flight resumed its journey and safely landed in Lagos, albeit approximately eight and a half hours behind schedule.

Passengers onboard expressed their concerns and frustrations, particularly regarding the handling of the medical emergency and the subsequent diversion.

Social media platforms buzzed with accounts of the ordeal, with one passenger recounting the unfortunate sequence of events, including the midair death and the necessity of an emergency landing due to fuel depletion.

Meanwhile, an airplane operated by Dana Airline veered off the runway at Murtala Muhammed International Airport.

The affected MD-83 aircraft, registration 5N-BKI, carried 83 passengers. Dana Air spokesman Mr. Kingsley Ezenwa confirmed all passengers and crew disembarked safely without injuries.

Ezenwa, in a statement, said: “Dana Air regrets to inform the public of a runway incursion involving one of our aircraft, registration number 5N BKI, which was flying from Abuja to Lagos today, 23/04/24.

“We are relieved to confirm that all 83 passengers and crew onboard the flight disembarked safely without injuries or scare as the crew handled the situation with utmost professionalism.

“We have also updated the Accident Investigation Bureau, AIB, and Nigerian Civil Aviation Authority (NCAA) on the incident, and the aircraft involved has been grounded by our maintenance team for further investigation.

“We wish to thank the airport authorities, our crew for their very swift response in ensuring the safe disembarkation of all passengers following the incident, and our sincere apologies and appreciation to the passengers on the affected flight for their patience and understanding.”

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ARISE News Channel Goes Global: Launches in Nine Southern African Countries

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Arise News

ARISE News Channel, a prominent Nigerian cable news network, has reached another significant milestone in its journey to become a global media powerhouse.

The channel has officially gone live in nine Southern African countries, including South Africa, Angola, and Botswana.

This expansion was made possible through a partnership with Multichoice/DSTV, with ARISE News Channel now available on Channel 416.

Alongside South Africa, Angola, and Botswana, the channel is now accessible to viewers in Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia, and Zimbabwe.

In a statement released by the Chief of Staff to Chairman/Editor-in-Chief of ARISE News Channel, Fauziya Ali Mohammed, it was revealed that the channel’s presence now spans 54 African countries.

Mohammed explained that ARISE News Channel is committed to delivering high-quality news coverage across the continent, showcasing various facets of African life, including business, politics, technology, commerce, science, sports, show business, and fashion.

ARISE News Channel, which celebrated its 11th anniversary earlier this year, has earned acclaim for its Emmy-winning programming.

It has become a leading broadcaster in Africa, offering audiences a diverse range of content while projecting the best of Africa’s culture and people to the world.

Chairman/Editor-in-Chief of ARISE News Channel, Nduka Obaigbena, expressed his excitement about the channel’s expansion into Southern Africa, emphasizing its commitment to promoting African narratives globally.

Obaigbena highlighted ARISE News Channel’s dedication to showcasing the continent’s potential and celebrating its achievements on the global stage.

The channel operates around the clock from studios located in Lagos, Abuja, Johannesburg, Cape Town, London, and New York.

Its coverage extends beyond traditional broadcasting platforms, reaching viewers across Europe, North Africa, the Middle East, and the United States through various channels and streaming services.

With its latest expansion into Southern Africa, ARISE News Channel continues to solidify its position as a leading voice in African media, shaping narratives and fostering dialogue on issues of regional and global significance.

As the channel continues to grow its global footprint, it remains dedicated to providing audiences with insightful and impactful journalism that reflects the dynamism and diversity of the African continent.

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Air Peace Flight Delayed, Passengers Stranded After Failed Promise of Hotel Stay

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Passengers aboard an Air Peace flight from Abuja to Owerri found themselves in a state of disarray and frustration after a series of delays and unmet promises left them stranded without accommodations.

What was supposed to be a routine flight scheduled to depart Abuja at 4:30 PM and arrive in Owerri at 5:30 PM turned into a nightmare as the flight was delayed until 6:18 PM due to a reported lack of a pilot.

However, midway through the journey, passengers were informed that the flight couldn’t proceed to Owerri because the airport there would close by 6:40 PM.

The flight was forced to return to Abuja, where passengers endured further uncertainty as they waited for over 20 minutes to receive any communication from the airline. Eventually, they were informed of plans to provide a bus to transport them to a hotel for accommodation.

However, this promise was not fulfilled, leaving passengers stranded and scattered around the airport.

One passenger, who had already experienced delays with another airline earlier in the day, expressed frustration at the lack of accountability and protection for travelers.

The incident highlights the ongoing challenges faced by passengers in Nigeria’s domestic aviation sector and raises questions about the adequacy of regulations to safeguard passengers’ rights.

Attempts to reach Air Peace for comment on the situation were unsuccessful at the time of reporting.

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