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Dangote Emerged As the Only Nigerian On Bloomberg’s Top Billionaires’ List

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Dangote

Africa’s richest man, Aliko Dangote, has significantly moved up in the World billionaires’ list as his fortune increased to $17.8 billion as against last year’s $14.8 billion to emerge as the only Nigerian in Bloomberg’s yearly top billionaire lists.

Other Africans on the list are three South Africans. They are Johann Rupert and his family, worth $10.1 billion; Nicky Oppenheimer with a worth of $7.80 billion and Natie Kirsh who is reputed to be worth $7.15 billion. Nassef Sawiris from Egypt is also among African billionaires with a worth of $6.93 billion.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 120 billionaires, as released on Monday by Bloomberg in its yearly billionaires’ list.

Ellon Musk and Jeff Bezos are the richest in the world with $194 billion in their respective kitty while Bernard Arnault and Bill Gates followed respectively with $174 billion and $148 billion. Mark Zuckerberg was the fifth richest with $135 billion on the world’s billionaires’ chart.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations.

Dangote with his improved worth of $17.8 billion, controls Dangote Industries, a closely-held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertilizer and packaged foods.

Aliko Dangote was also recently named as the sixth most charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune of $1.25 billion.

Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities.

Aliko Dangote Foundation was, however, incorporated in 1994 as a charity in Lagos, Nigeria. Twenty years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor. The primary focus of the Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

Other Nigerian billionaires, including Mike Adenuga and Abdulsamad Rabiu, were missing on the list as their net worth fell short of American billionaire Buba Cathy, who placed 500th with a net worth of $5.83bn as estimated by Bloomberg.

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Bitcoin Billonaire Dies at 41

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Bitcoin

Billionaire bitcoin owner Mircea Popescu has reportedly died, leaving behind a cache of virtual currency and a controversial crypto legacy.

The bitcoin BTCUSD pioneer, who was believed to own over $1 billion in the world’s No. 1 crypto, making him, at the time, one of the asset’s larger single-holders, died off the coast of Costa Rica, according to a Spanish-language publication, Teletica.com, which reported last week that a foreigner had drowned at Playa Hermosa de Garabito, Puntarenas, in Costa Rica, describing the victim as a 41-year-old “of Polish origin.”

However, Popescu is a well-known name in Romania and he has been described on some sites as a Romanian entrepreneur and blogger.

Popescu was viewed as a pioneer in digital assets and one of the earliest adopters. An article in Bitcoin Magazine written by Pete Rizzo said that Popescu was known for starting MPEx, a bitcoin securities exchange, around the same time as Coinbase Global COIN was launched.

At its mid-April peak this year, Popescu’s bitcoin holdings would have been worth nearly $2 billion.

At last check, bitcoin prices were changing hands at around $36,310, up 6.11 percent on the day, even amid reports that the world’s largest crypto trading platform Binance was facing a regulatory crackdown in the U.K., and a separate report noting that the platform has been compelled to pull out of doing business in the Canadian province of Ontario.

Word of Popescu’s reported death was circulating in crypto circles, with some wondering where his holdings would go.

The latest news also comes as crypto continues to wrestle with China’s ban on bitcoin mining and crypto trading in the world’s second-largest economy and the biggest crypto miner.

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Warren Buffett Resigns From Bill Gates Foundation, Donates Another $4.1 Billion

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Warren Buffett - Investors King

Warren Buffett, the billionaire investor behind storied conglomerate Berkshire Hathaway, announced a new $4.1 billion donation to charity Wednesday morning while simultaneously announcing that he’s stepping down as an inactive trustee at the Bill and Melinda Gates Foundation.

KEY FACTS

In a Wednesday morning statement, Buffett said he is giving away $4.1 billion in Berkshire Hathaway stock to the five foundations he’s given to every year since 2006: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, the Novo Foundation and the Gates Foundation.

The 90-year-old also announced he would resign as an “inactive” trustee at the Gates Foundation, saying his “physical participation is in no way needed to achieve” the foundation’s goals.

The legendary investor did not mention Bill and Melinda Gates’ high-profile divorce and instead said the move follows his decision to resign from all corporate boards besides that of Berkshire, where he remains chairman and CEO.

Buffett says he now owns 238,624 shares of Berkshire Hathaway—worth about $100 billion—putting him about halfway through his pledge to donate all of the 474,998 shares he owned in June 2006.

CRUCIAL QUOTE

“Today is a milestone for me,” Buffett said Wednesday. “In 2006, I pledged to distribute all of my Berkshire Hathaway shares—more than 99% of my net worth—to philanthropy. With today’s $4.1 billion distribution, I’m halfway there.”

BIG NUMBER

$41 billion. That’s the total value of Buffett’s Berkshire stock donations at the time of giving. Before Wednesday’s donation, which has yet to be reflected on the Securities and Exchange Commission’s website, Forbes pegged the value of Buffett’s fortune at about $105 billion.

TANGENT

Buffett’s not alone in big billionaire donations this month. Last week, MacKenzie Scott, the philanthropist and former spouse of Amazon founder and CEO Jeff Bezos, announced a new round of donations totaling roughly $2.7 billion.

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Technology Has the Most Millennial Billionaires; $254.5 Billion in Combined Net Worth

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Mark Zuckerberg - Investors King

The technology sector has the highest number of millennial billionaires (23 – 38 years old) with a combined net worth of $254.5 billion and 28 billionaires.

In the latest data from Forbes, finance and investments came second with $24.6 billion in combined net worth and 8 millennial billionaires as shown below.

The Industries with the Most Millennial Billionaires

Rank

Industry

No. of Millennial Billionaires

Collective Net Worth of Millennial Billionaires in Industry (USD$ – Billion)

1.

Technology

28

$254.5

2.

Finance and Investments

8

$24.6

3.

Automotive

6

$17.2

3.

Fashion & Retail

6

$27

3.

Healthcare

6

$11

3.

Media and Entertainment

6

$37

4.

Manufacturing

5

$14.1

5.

Metals and Mining

4

$6.4

5.

Property

4

$9.9

6.

Energy

2

$7.7

6.

Food and Beverage

2

$8

7.

Service

1

$1.2

8.

Construction & Engineering

0

$0

8.

Gambling and Casinos

0

$0

8.

Logistics

0

$0

8.

Sports

0

$0

8.

Telecommunications

0

$0

According to the data, there are presently 78 millennial billionaires in the world with an astonishing combined net worth of $418.6 billion.

Mark Zuckerberg, CEO and Co-founder, Facebook Inc, led with a sizeable net worth of $97 billion. Followed by Zhang Yiming, the founder of the content media platform, ByteDance, who has a net worth of $35.6 billion. See the top 10 below.

The 10 Richest Millennial Billionaires in the World:

The 10 Richest Millennial Billionaires in the World

Rank

Name

Age

Industry

Net Worth (USD$ – Billion)

1.

Mark Zuckerberg

36

Technology

$97

2.

Zhang Yiming

37

Technology

$35.6

3.

Dustin Moskovitz

36

Technology

$17.8

4.

Pavel Durov

36

Technology

$17.2

5.

Lukas Walton

34

Fashion and Retail

$15.6

6.

Cheng Yixiao

37

Media and Entertainment

$14.1

7.

Nathan Blecharczyk

37

Technology

$12.4

8.

Bobby Murphy

32

Technology

$11.9

9.

Evan Spiegel

30

Technology

$11.1

10.

Sam Bankman-Fried

29

Finance and Investments

$8.7

10.

Agnete Kirk Thinggaard

37

Manufacturing

$8.7

 

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