American rapper Kanye West has been overtaken by Rihanna on the richest musician list after Adidas terminated its partnership deal with him. The contract forms the biggest portion of West’s net worth.
Investors King reported that Adidas which signed a $1.5 billion partnership deal with West, had to terminate his contract due to the anti-semitic remarks he made earlier this month.
Following the termination of its partnership deal with Kanye, the company said in a post “Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.”
Kanye West’s net worth was estimated at $2 billion, with $1.5 billion coming from his partnership deal with Adidas.
Following Adidas’ decision to cut ties with him, this has seen Kanye’s net worth dropped to an estimated $400 million, which has seen him drop from the Forbes billionaires list.
With this development, U.S singer and Fenty Beauty founder Rihanna, who was second to Kanye in the richest musician list, with an estimated networth of $1.4 billion, takes over the number one spot ultimately making her both the richest female musician and the richest musician in the world as of 2022.
According to Forbes’s estimation, the bulk of Rihanna’s fortune came from the value of her Fenty Beauty Brand, which she has 50 percent ownership of. The company is reportedly worth $2.8 billion.
The Barbados born singer has so far made money from a variety of industries asides from Music, which include fashion, and beauty with several endorsement deals.
Rihanna has designed collections for top brands such as Armani and River Island. She has also had creative partnerships with MAC Cosmetics.
According to Vogue, her makeup line brought in $100 million in sales within the first 40 days of its launch. While in 2021, Forbes reported that Rihanna’s Savage X Fenty had reached a $1 billion valuation in the US women’s underwear sector.
Kidnapping Spree Hits Northern Nigeria: Eight Abducted in Dan Honu Attack
Gunmen targeted the Dan Honu community in Nigeria’s northern Kaduna state, abducting at least eight people in the latest incident of kidnapping for ransom in the region.
This form of criminal activity has become increasingly prevalent in northwest Nigeria, where armed gangs, locally known as bandits, have been wreaking havoc, targeting schools, villages, and travelers.
As a result, it has become perilous to travel by road or engage in farming activities in certain areas.
The attack occurred late on Tuesday in the Chikum local government area of Kaduna state. While the police are actively investigating the incident, residents shared harrowing experiences.
Mohammed Danjuma, a resident who narrowly escaped the abduction, reported that approximately 16 people were taken, but eight managed to evade capture.
During the attack, a vigilant member of the community fired a shot into the air, creating enough disturbance to unsettle the bandits, who subsequently left.
Malam Suleiman, another resident who was initially kidnapped, seized an opportunity to escape while being led into the bushes. Unfortunately, his teenage sons were among those taken by the assailants.
These incidents add to the pervasive insecurity in Nigeria, which includes a longstanding 14-year Islamist insurgency in the northeast and ongoing deadly clashes between farmers and herders in the central region.
Authorities are grappling with the multifaceted challenges posed by these security threats, seeking comprehensive solutions to safeguard the well-being of the population.
Fidelity Bank Set to Host 2 Days of Family Entertainment
In the spirit of the Yuletide, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity Family Weekend.
Scheduled to hold on Saturday, 16 and Sunday, 17 December 2023 at the Fidelity Grounds, Oniru, Victoria Island, Lagos, the event is designed to create a fun and relaxed atmosphere for children to play, parents to relax and young adults to unwind during the festive season.
“The Yuletide season is all about coming together and spending quality time with loved ones especially as we wind down the year in anticipation of a new year. As a bank committed to providing memorable experiences for its clients, we pioneered the Fidelity Family Weekend to
fete host our customers and clients to two fun filled days of family entertainment. We believe this is one more way of thanking our customers for a successful year,” noted the Divisional Head, Brand & Communications, Fidelity Bank Plc, Meksley Nwagboh, Ph.D. in a chat with journalists.
The Fidelity Family Weekend would run from 10am to 10pm daily and would feature dedicated fun activities for children including dancing competitions, bouncing castles, train rides, Santa’s Grotto, balloon games, amongst others.
Similarly, the programme for the adults’ section would feature exciting activities like karaoke competitions, games arcades, couple games, musical performances and so many more fun games that are geared towards providing a memorable experience for guests.
Entry into the event is free but guests are required to pre-register at www.fidelitybank.ng/family-weekend before 12 December 2023.
Commenting further, Dr Nwagboh said, “As a bank dedicated to helping individuals grow, businesses thrive and economies to prosper, we boast of an array of products and services for our diverse client base. These include the Fidelity SWEETA account for young children below the age of 17 years, Fidelity Flex for teenagers and undergraduates; and even the Fidelity Vintage Account for senior citizens; all tailor-made to meet our customers specific needs. The Fidelity Family Weekend is therefore another demonstration of this devotion to provide platforms for our customers to fulfill their lifestyle requirements”.
Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
Egypt Eyes Tourism Boom Despite Regional Tensions
Despite the recent Israel-Hamas conflict, Egypt’s tourism sector remains optimistic about meeting its target of 15 million arrivals in 2023 with expectations of further growth in 2024.
The North African nation is gearing up for a hotel-building initiative to address the pressing need for additional capacity, aiming to add at least 25,000 rooms in 2024 and 40,000 the following year.
Tourism Minister Ahmed Issa emphasized that the scarcity of hotel rooms is the primary challenge, prompting the government to consider incentives such as tax breaks to expedite construction.
“The No. 1 challenge that Egypt faces today is the number of hotel rooms. We need at least 25,000 additional rooms in 2024 and 40,000 the year after,” said Issa.
Tourism, a crucial component of Egypt’s economy, is gaining increased significance amid the country’s fiscal challenges.
Despite concerns raised by the Israel-Hamas conflict impacting nearby countries, including Egypt, the relative containment of the conflict and the favorable exchange rates due to currency devaluations have made Egypt an attractive destination.
In the past financial year, tourism revenue in Egypt reached a record $13.6 billion, with a focus on attracting higher-spending tourists and solid visitor numbers from countries like Germany and Russia.
The government is also looking to tap into the vast potential of Chinese tourists, aiming for 1 million Chinese visitors between now and 2028. While Red Sea cities like Sharm El-Sheikh and Hurghada continue to be popular, efforts are underway to promote tourism in the northwestern Mediterranean coast.
To encourage further development, the tourism and finance ministries are proposing incentives for hotel builders, including rebates for funding costs and potential tax holidays on capital expenditure.
Issa stated, “We’re going to seek the approval of the cabinet over the coming couple of weeks” and expects to announce the incentives “before the end of December.”
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