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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.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Education

Senate Passes Bills To Establish Two Federal Universities in Ekiti, Nasarawa states

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University - Investors King

The Senate on Tuesday passed two bills seeking to establish two federal universities in Ekiti and Nasarawa States.

The bills are the Federal University of Health and Medical Sciences Iyin, Ekiti State (Establishment) Bill, 2021, and Federal University Lafia Teaching Hospital (Establishment) Bill, 2021.

Both bills are sponsored by Senators Opeyemi Bamidele (APC, Ekiti Central), and Tanko Al-Makura (APC, Nasarawa South).

The passage of both bills followed the presentation and consideration of two separate reports by the Committee on Health (Secondary and Tertiary).

Chairman of the Committee, Senator Yahaya Oloriegbe (APC, Kwara Central), in his presentation, said the bill to establish the Federal University of Lafia Teaching Hospital was “necessitated as a result of the precarious health conditions faced by the resident.”

According to him, the bill to establish the Federal University of Health and Medical Sciences Iyin, Ekiti State, seeks to promote and emphasize teaching, research and extension of knowledge in the field of medicine and environmental sciences.

In a related development, the Senate on Wednesday passed a third bill to amend the University Teaching Hospitals (Reconstitution of Boards) Act.

The bill’s passage by the upper chamber followed consideration of a report by the Committee on Health (Secondary and Tertiary).

Senator Oloriegbe in his presentation explained that the amendment bill seeks to amend the First Schedule to the Principal Act to include the University Teaching Hospital, Lafia and Modibbo Adama University Teaching Hospital.

In a related development, a bill seeking to establish the Federal College of Education, Kaiama, Kwara State, scaled second reading during plenary.

The bill was sponsored by Senator Sadiq Suleiman Umar (APC, Kwara North).

The Senate President, Ahmad Lawan, after the bill was considered, referred it to the Committee on Tertiary Institutions and TETFUND.

The Committee which is chaired by Senator Ahmad Baba Kaita was given four weeks to report back to the upper chamber.

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Terrorism Sponsors: UAE Names Six Nigerians, 47 Others

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Six Nigerians have been designated as terrorism sponsors by the United Arab Emirates.

The state-owned news agency, WAM, made this known in a report.

The country said the listed individuals and entities, including their affiliates, are being monitored.

The Nigerians named are Abdurrahaman Ado Musa, Salihu Yusuf Adamu, Bashir Ali Yusuf, Muhammed Ibrahim Isa, Ibrahim Ali Alhassan and Surajo Abubakar Muhammad.

“The UAE Cabinet has issued Resolution No 83 of 2021, designating 38 individuals and 15 entities on its approved list of persons and organisations supporting terrorism (Local Terrorist List).

“The resolution underscores the UAE’s commitment to target and dismantle networks that finance terrorism and its related activities.

“The resolution demands that regulatory authorities monitor and identify any individuals or entities affiliated with or associated with any financial, commercial or technical relationship and take the necessary measures according to the laws in force in the country in less than 24 hours,” the report read.

The following is the full list of added individuals:

1. Ahmed Mohammed Abdulla Mohammed Alshaiba Alnuaimi (UAE)

2. Mohamed Saqer Yousif Saqer Al Zaabi (UAE)

3. Hamad Mohammed Rahmah Humaid Alshamsi (UAE)

4. Saeed Naser Saeed Naser Alteneiji (UAE)

5. Hassan Hussain Tabaja (Lebanon)

6. Adham Hussain Tabaja (Lebanon)

7. Mohammed Ahmed Musaed Saeed (Yemen)

8. Hayder Habeeb Ali (Iraq)

9. Basim Yousuf Hussein Alshaghanbi (Iraq)

10. Sharif Ahmed Sharif Ba Alawi (Yemen)

11. Manoj Sabharwal Om Prakash (India)

12. Rashed Saleh Saleh Al Jarmouzi (Yemen)

13. Naif Nasser Saleh Aljarmouzi (Yemen)

14. Zubiullah Abdul Qahir Durani (Afghanistan)

15. Suliman Saleh Salem Aboulan (Yemen)

16. Adel Ahmed Salem Obaid Ali Badrah (Yemen)

17. Ali Nasser Alaseeri (Saudi Arabia)

18. Fadhl Saleh Salem Altayabi (Yemen)

19. Ashur Omar Ashur Obaidoon (Yemen)

20. Hazem Mohsen Farhan + Hazem Mohsen Al Farhan (Syria)

21. Mehdi Azizollah Kiasati (Iran)

22. Farshad Jafar Hakemzadeh (Iran)

23. Seyyed Reza Mohmmad Ghasemi (Iran)

24. Mohsen Hassan Kargarhodjat Abadi (Iran)

25. Ibrahim Mahmood Ahmed Mohammed (Iran)

26. Osama Housen Dughaem (Syria)

27. Abdurrahaman Ado Musa (Nigeria)

28. Salihu Yusuf Adamu (Nigeria)

29. Bashir Ali Yusuf (Nigeria)

30. Muhammed Ibrahim Isa (Nigeria)

31. Ibrahim Ali Alhassan (Nigeria)

32. Surajo Abubakar Muhammad (Nigeria)

33. Alaa Khanfurah – Alaa Abdulrazzaq Ali Khanfurah – Alaa Alkhanfurah (Syria)

34. Fadi Said Kamar (Great Britain)

35. Walid Kamel Awad (Saint Kitts and Nevis)

36. Khaled Walid Awad (Saint Kitts and Nevis)

37. Imad Khallak Kantakdzhi (Russia)

38. Mouhammad Ayman Tayseer Rashid Marayat (Jordan)

The following is the full list of the added entities:

1. Ray Tracing Trading Co LLC

2. H F Z A Arzoo International F Z E

3. Hanan Shipping L.L.C

4. Four Corners Trading Est

5. Sasco Logistic L.L.C

6. AlJarmouzi General Trading LLC

7. Al Jarmoozi Cargo & Clearing (L.L.C)

8. Al Jarmoozi Transport By Heavy & Light Trucks (L.L.C)

9. Naser Aljarmouzi Ceneral Trading (L.L.C)

10. Naser Aljarmouzi Cargo & Clearing LLC

11. Wave Tech Computer LLC

12. NYBI Trading – FZE

13. KCL General Trading F Z E

14. Alinma Group

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United Arab Emirates Listed Six Nigerians Among 38 Global Sponsors Of Terrorism

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The United Arab Emirates on Monday designated six Nigerians as financiers of Boko Haram and other criminal activities.

The decision was made when the Emirate federal cabinet met in the capital Abu Dhabi on Monday, according to state-run WAM news agency.

Abdurrahaman Ado Musa, Salihu Yusuf Adamu, Bashir Ali Yusuf, Muhammed Ibrahim Isa, Ibrahim Ali Alhassan and Surajo Abubakar Muhammad were the six Nigerians placed on the Middle-East giant’s watch list.

According to Peoples’ Gazette, the decision came about a year after the Nigerians were indicted for sponsoring Boko Haram.

A Nigerian government official said to be involved in sponsoring the dreaded sect that has killed over 100,000 civilians and security forces and inflicted untold economic damage on the country since its campaign began in 2009.

The government official has yet to be publicly identified by the Emirati authorities, amidst claims that some elements in the Nigerian government were mounting diplomatic pressure not to publish the name.

At least 47 other foreign nationals and entities were also added to the watch list by the UAE on Monday.

Following is the full list of added individuals:

1.      Ahmed Mohammed Abdulla Mohammed Alshaiba Alnuaimi (UAE)

2.      Mohamed Saqer Yousif Saqer Al Zaabi (UAE)

3.      Hamad Mohammed Rahmah Humaid Alshamsi (UAE)

4.      Saeed Naser Saeed Naser Alteneiji (UAE)

5.      Hassan Hussain Tabaja (Lebanon)

6.      Adham Hussain Tabaja (Lebanon)

7.      Mohammed Ahmed Musaed Saeed (Yemen)

8.      Hayder Habeeb Ali (Iraq)

9.      Basim Yousuf Hussein Alshaghanbi (Iraq)

10.     Sharif Ahmed Sharif Ba Alawi (Yemen)

11.     Manoj Sabharwal Om Prakash (India)

12.     Rashed Saleh Saleh Al Jarmouzi (Yemen)

13.     Naif Nasser Saleh Aljarmouzi (Yemen)

14.     Zubiullah Abdul Qahir Durani (Afghanistan)

15.     Suliman Saleh Salem Aboulan (Yemen)

16.     Adel Ahmed Salem Obaid Ali Badrah (Yemen)

17.     Ali Nasser Alaseeri (Saudi Arabia)

18.     Fadhl Saleh Salem Altayabi (Yemen)

19.     Ashur Omar Ashur Obaidoon (Yemen)

20.     Hazem Mohsen Farhan + Hazem Mohsen Al Farhan (Syria)

21.     Mehdi Azizollah Kiasati (Iran)

22.     Farshad Jafar Hakemzadeh (Iran)

23.     Seyyed Reza Mohmmad Ghasemi (Iran)

24.     Mohsen Hassan Kargarhodjat Abadi (Iran)

25.     Ibrahim Mahmood Ahmed Mohammed (Iran)

26.     Osama Housen Dughaem (Syria)

27.     Abdurrahaman Ado Musa (Nigeria)

28.     Salihu Yusuf Adamu (Nigeria)

29.     Bashir Ali Yusuf (Nigeria)

30.     Muhammed Ibrahim Isa (Nigeria)

31.     Ibrahim Ali Alhassan (Nigeria)

32.     Surajo Abubakar Muhammad (Nigeria)

33.     Alaa Khanfurah – Alaa Abdulrazzaq Ali Khanfurah – Alaa Alkhanfurah (Syria)

34.     Fadi Said Kamar (Great Britain)

35.     Walid Kamel Awad (Saint Kitts and Nevis)

36.     Khaled Walid Awad (Saint Kitts and Nevis)

37.     Imad Khallak Kantakdzhi (Russia)

38.     Mouhammad Ayman Tayseer Rashid Marayat (Jordan)

Following is the full list of the added entities:

39.     Ray Tracing Trading Co LLC

40.     H F Z A Arzoo International F Z E

41.     Hanan Shipping L.L.C

42.     Four Corners Trading Est

43.     Sasco Logistic L.L.C

44.     AlJarmouzi General Trading LLC

45.     Al Jarmoozi Cargo & Clearing (L.L.C)

46.     Al Jarmoozi Transport By Heavy & Light Trucks (L.L.C)

47.     Naser Aljarmouzi Ceneral Trading (L.L.C)

48.     Naser Aljarmouzi Cargo & Clearing LLC

49.     Wave Tech Computer LLC

50.     NYBI Trading – FZE

51.     KCL General Trading F Z E

52.     Alinma Group

53.     Al-Omgy & Bros Money Exchange.

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