America’s richest may be getting richer but President Donald Trump’s fortune has slid by $600 million to $3.1 billion, according to a list of 400 billionaires released by Forbes magazine on Tuesday.
Microsoft co-founder Bill Gates topped the list for a 24th consecutive year on a net worth of $89 billion with Amazon’s Jeff Bezos, worth $81.5 billion, number two.
But Trump, the first US president to come solely from the private sector, is ranked 248 – sharing the spot with 27-year-old Snap co-founder and CEO Evan Spiegel, the youngest person on the list.
Forbes attributed Trump’s decline to a weakening New York retail and office real estate market, and new information about his assets. The Manhattan tycoon ranked 156 in 2016, the year he was elected to the White House.
Forbes said those on its 36th annual list of the 400 wealthiest Americans have a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. Entrance to the exclusive club cost a record-breaking $2 billion.
There were 22 newcomers, including Netflix cofounder and CEO Reed Hastings. Twenty-six people dropped off from last year, including US Commerce Secretary Wilbur Ross.
There were only 50 women on the list. Alice Walton, the daughter of Wal-Mart founder Sam Walton, was the highest ranked at 13. Unlike her brothers, she has focused on curating art rather than working for Wal-Mart.
The biggest gainer in dollar terms was Facebook’s Mark Zuckerberg, chalking up a $15.5 billion increase in net worth to retain his number four ranking at $71 billion.
Here are Tony Elumelu's 5 ways to achieving success as an Entrepreneur:
“The first thing I tell people is that you should dream BIG. No limitations, no boundaries; feel free to dream.
The process of translating your dreams to action entails the following:
1. You need to build milestones into your dreams.
2. You must make sure you assemble the right resources.
There are different types of resources you need to assemble for you to accomplish your dreams: some could be financial, others human, it varies.
But it is important that you ask yourselves what you need to accomplish your dreams as an entrepreneur, then you work hard towards putting these in place.
3. Check your milestones from time to time, am I on course? What did I miss? How did I miss it? What can I do to correct it as an entrepreneur? This is very important. I call it checking “you” from time to time in a realistic fashion
4. Have a mirror. A mirror is someone that you have confidence in that you can check in with from time to time. When entrepreneurs do well, they mostly have business mentors.
It would also be nice if your mirror is like a mentor, someone who has accomplished something in that field that you can go to from time to time to check with.
5. Finally, you must work hard, to achieve success in life is not rocket science, you just must put in the time.
On hard work, Michael Jackson for instance was renowned for his excellent work ethic, which explains why he remains one of the greatest musicians of all times. Some would think dancing and singing do not require any significant efforts but beneath those enthralling videos and captivating songs are hours and hours of practice and sweat.
When Michael Jackson was producing the video for ‘Thriller’, one of the ground-breaking music videos of the 80’s, there was an eight-week period where he had to work like slave, staying up days at a time to ensure that everything was perfect.
This is the same type of thoroughness and diligence that you must apply to your business. But let me say that I would be insincere if I attempt to glamorize entrepreneurship or simplify it. It is not simple and as I said, it is a long journey and one that is tough. And the unpopular truth is that only those who have grit and resilience can make it through the end” – Tony Elumelu, Chairman, Heirs Holdings Group and Founder, The Tony Elumelu Foundation
Excerpt: From Tony Elumelu’s speech at Usmanu Danfodiyo University, Sokoto
The media, in addition to being agents of socialization, is believed to be the main setters of public agenda. They choose what they consider important enough for the society to at least think about.
In Nigeria, there is a paradigm shift in media influence. The media power and influence is greater and more concentrated in the West, while there is an aloof recognition of media power in the south east. It has not gone unnoticed neither has it been unchecked. There are a number of individuals who have dedicated their lives and talents carving out a niche for the south east media on the map. Amongst these individuals are exceptional women, and this piece is dedicated to celebrating them.
If you’re interested in learning a little more about some of the brave, dedicated most successful women in the media business; check out this list of the top five female OAPs in the south east.
a.k.a FabulosGloria. It goes without consequence to say that fabulous Gloria is the queen of radio media in the south east. Her sonorous and well tenured/pitched voice is almost impossible to ignore. Currently working as the Head of News and Current Affairs department in 92.5 Enugu’s DreamFm, FabulosGloria’s career in the media spans over 12 years having worked in four media houses to date.
program People’s Forum (5-6pm weekdays) on dreamFm deals with all
topical issues from politics to health, finance, marriage, lifestyle, religion
etc allowing people to air their views on prevalent matters concerning them.
She is also a staple on Saturday mornings with the show #SaturdayMorningDrive (6-11am) which is purely an entertainment and lifestyle show. Perhaps her most known program yet is called #OneNigeria show aka #NgwoNgwoParliament where she plays the delectably refined “Madam Secretary”
FabulosGloria is an internationally trained broadcaster/journalist haven mastered the art of communication. She has been trained by (and worked with) the Financial Times London, The BBC, Radio Netherlands (RNTC), InterNews agency, Service Accord and Voice Initiative (SAVI) Nigeria, Action-Aid Nigeria and so many other top media organisations.
Her bio reads; ‘An Evolving Media Personality with Unusual Taste; with that Touch of Versatility and Creativity!’ Asides’ being a graduate of English/literary studies, amazing is an OAP at magic 102.9 FM, Aba Abia state. A natural-inclined media person with a use of Wittiness, Spontaneity and a touch of Depth amazing is the host of an Artiste programme FUTURE STARZ (Mondays 8:15pm -9:00pm). FEMINUQUE a.k.a #ladiestalkingtuesday (Tuesdays 1:00pm – 2:00pm)
AFTERNOON DRIVE SHOW (Wednesdays/Thursdays 1:00pm – 4:00pm).
A slogan to best describe her is: - “What is worth doing is worth doing well”. She is passionate with her work.
a.k.a The Duchess is the queen of the midday express on 92.5 Enugu’s DreamFm. She’s also a brand influencer, red carpet host, artiste promoter and mom to the milk monster.
She is a fitness enthusiast, baby food blogger and writer. Her son August is a kid model, brand rep and made it to the top 10 finalist of cussons baby 2017.
In her interview with Nollywoodkids, she described herself thus;
‘My name is Stephanie Azinge, better known as The Duchess Oma. I’m from Imo state. I’m an OAP with Dream FM, Enugu. I host the Midday express every week day. I’m also a Compere/voice over artist. I host events like book launches, album launches etc and I do voice over for various brands. I’m also a food blogger, baby food to be specific. I write about various ways to make healthy, affordable home made baby food via my son Augusts’ IG page @themilk_monster. I’m also a fitness enthusiast. Since having my son I have realized the importance of excessive fitness so I’ve been chronicling my fitness journey from saggy post pregnancy tummy to fit mom. Hoping to inspire other new moms to get fit.’
Chidera Rosecamille Aneke a.k.a certified Camille is the OAP Certifying Lives on Darling 107.3 FM Owerri. Equipped with a bachelor’s degree in Education/English, a fruity voice & a lot of training certified Camille started broadcasting as the media coordinator NYSC forum on radio Benue. Having a soft spot for humanity, Camille on October 2016, organized an event for young students in Aguata lga of Anambra state to prepare them for life after secondary school. The aim of the event was to help these young teenagers make informed choices about their future.
Also during the ‘World Hepatitis Day’ in 2016 and 2017 respectively, I effectively used the media to create awareness and educate people on health issues.
She most recently in an interview gave her opinion on the lack of endorsements and recognitions trailing eastern OAPs. She said;
‘OAP’s in the southeast are yet to discover the power of networking and the benefits of personal branding. Brands only endorse people who will be able to represent the brand, commandeer a certain amount of audience and make a reasonable impact in people towards their products.
Nobody endorses someone who can’t even make 10 people retweet a tweet on twitter. If we start seeing ourselves as potential ambassadors and putting ourselves on the map then surely brands will pick interest.’
She has been nominated for Best On-Air-Personality of the year (Starlett Award), Most Fashionable OAP (Anambra Fashion Show &Awards). A short bio about her reads;
‘I am your certified girl on radio, always ready to connect with you and bless you with my warm and inspiring presence. A million dollars cannot quench the love I have for the media.’
Tuvia Eze- Nwankwo
a.k.a Tuvia kings is a multitalented OAP and producer at FLO94.9FM Umuahia. She is the host of #Saturdayflakes, #familyliasisonoffice, #ruralmatters, hip hop open mic and the night shift.
Did you know she aspires to make it to the guiness book of records someday? In a recent interview with the Nightingale, where she was asked if she has gotten to the peak of her achievements, she said;
‘Honestly, I’m just getting started. I’m passionately working towards achieving more goals. One of my greatest desires is to live as a role model and leave a great legacy at the end of the day. More than anything, I would love to have my name written on the Guinness book of records for the right cause.’
She’s a presenter, stylist, make-up artist, project manager, writer, blogger, designer and aspiring actress. Tuvia kings is all about self love and confidence, she recently joined the likes of chidinma Ekile in representing her tribe and showcasing her love for culture by braiding the igbo hairstyle #Isiowu.
In the latest edition of The CEO Magazine by Business Day, media entrepreneur Peace Hyde, the newly appointed Forbes Africa Head of Digital Media and Partnerships/ Correspondent West Africa graces the cover.
From her education non-profit, Aim Higher Africa where she provides skills training to impoverished youths to her climb up the corporate ladder, Peace Hyde has made a significant impact in the media space within a short period of time with numerous high-profile nominations as well as being recently voted as one of the United Nations 100 Most Influential People of African Descent.
In an interview with the magazine she shares her journey so far and discusses the future of digital media in Africa.
On building her personal brand: I am driven to make a change. A change in the way people perceive their abilities, a change in mindset and most importantly a change in societies expectation for young people. I want to contribute to the paradigm shift in the role the mindset plays in achieving your fullest potential. I believe in one fundamental principle, and that is through faith and God, all things are possible. You just need to add a sprinkle of hard work and you can achieve anything you put your mind to.
On the evolution of the relationship between Influencer and Brand: We are in a world where everything is possible. Ideas are a dime a dozen and originality are increasingly hard to come by. Technology has redefined the way we live; interact with each other and with products and services. At the heart of that change lies the relationship between the influencer and the brand, which has become increasingly important to drive awareness and sales.
I think as product lines become more fragmented coupled with globalization, organizations are beginning to find new ways of pushing their message to their intended target audience. The emergence of native ads is a testament to this. I believe this evolution will continue for some time. Community marketing and personalization are now strong aspects of the marketing mix and the only way to survive is to embrace this trend.
Bernardino Koku Avle is the Director of News Programming at Citi FM in Accra, Ghana.
He was recently listed as one of the top 40 business leaders under 40 in Ghana and he oversees a team of young hardworking news professionals producing and covering news for Ghanaian radio and online audiences. He combines this role with hosting the Citi Breakfast Show, an exciting and probing daily talk show that addresses Socio-economic issues in Ghana.
His show was adjudged the Interactive/Talk Show of the year at the BBC’s Africa Radio Awards in 2007, in Nairobi Kenya and Radio Program of the year 2013 by the Chartered Institute of Marketing Ghana (CIMG).
He graduated with a first class in Economics from the University of Ghana and has an MBA from the Warwick Business School in the UK. He is also an Edward R Murrow Fellow of Journalism and a Chevening Scholar.Read More
It is becoming less and less obvious that we are over glamorizing entrepreneurship. With entrepreneurship growing in global popularity, everyone wants to be a boss; a lot of graduates don’t even bother looking for white collar jobs anymore. Those already working can’t wait to quit and become ‘my own boss’.
The idea of working for one’s self is just too appealing to resist. But if someone told you that you had to work for 2-5 years and barely make profit would you do it?
Even if you make 10-60K a year, depending on your business, there are expenses that can far outweigh the cash you bring in and at the end of the day your books can close with you taking home barely a dime.
If someone told you that you’d work harder than you ever had to work at any other job, would you do it?
If someone told you that you’d have many panicked mornings wondering what’s next, where’s the money gonna come from and how the hell are you gonna find the strength to keep going and keep working when there’s no guaranteed profit at the end of the week or month would you keep going?
This is the truth for most entrepreneurs.Read More
Forbes Magazine has released a special issue that features essays, lessons, and ideas for the next 100 years from today’s most influential business leaders around the world. This feature was released to mark Forbes' 100th anniversary.
The 100 quotes are meant to inspire and inform future entrepreneurs, the generation that will build and shape the next century.
While creating the list, Forbes included people who have either created something with a lasting impact on the world or innovated in a way that transcends their given field.
The notable honorees on the world’s 100 Greatest Living Business Minds list include: Giorgio Armani, Jeff Bezos, Michael Bloomberg, Bono, Richard Branson, Warren Buffett, Sean “Diddy” Combs, Jack Dorsey, Bill Gates, Paul McCartney, Rupert Murdoch, Elon Musk, Miuccia Prada, Shonda Rhimes, Sheryl Sandberg, Carlos Slim, Donald Trump, Ted Turner, Oprah Winfrey, Jack Welch, Mark Zuckerberg, Martha Stewart, among others.
Check out the quotes from the six African Americans on the list:
Sean “Diddy” Combs:
If I give the customers my best and service them differently, whether music, clothing or vodka, I’ll get a return on my hard work.
I’d said to my partner Stedman, ‘What am I going to talk about for ten days and ten nights at Nelson Mandela’s house?’ And Stedman said, ‘Why don’t you try listening?’
We ran our business differently and it worked–we paid our workers based on profitability, with bonuses based on aspirational targets.
Storytelling remains basic: It’s just a campfire, the human connection that says you’re not alone.
If you’re present and awake, you become this great thinker, this great worker. You become a fine-tuned machine.
Berry Gordy, Jr:
If you do the right thing, the right thing will come to you.
Read the full article on www.forbes.com.
I don't recommend that anyone drops out of school and I'm a big believer in school, there is hope however, if you've not been able to complete high school. The ultimate goal and dream of every Nigerian parent is to see their children go to school, earn a degree, get a high paying job, (every one prays for Oil Company) and live happily ever after. The rate of current unemployment is seriously countering that dream.
Jim Rohn opined, “Formal education will make you a living; self education will make you a fortune”. For ‘morale high’ and IQ boost sakes, here is a list of Nigerian millionaires that surprisingly didn’t complete school.
Orji Uzor Kalu: Chairman of SLOK Holding and the Daily Sun and New Telegraph newspapers in Nigeria, he served as the governor of Abia State in Nigeria from May 29, 1999, to May 29, 2007. He was rusticated from university for his participation in a student protest. Though he was later granted Amnesty by the school authority, he rejected it and chose to become an entrepreneur.
Razak Akanni Okoya: is a billionaire industrialist and Aare of Lagos. He had his only formal education at Ansar-un-deen Primary School, Oke popo, Lagos. He is the owner and founder of Eleganza group of companies, which has a market spanning Western Africa.
Cletus Madubugwu Ibeto: Ibeto’s educational story is an inspiring one. The story is best captured by Dimgba Igwe of ‘The Sun’ and it goes as follows:
“On January 22 1966, the 13 year old Cletus Madubuegwu Ibeto, was in high spirits. He was going to crusader secondary school, Isingwu Amachala Umuahia, following in the footsteps of his two older brothers’. His box of new cloths and provision were all packed and his friends gathered to bid him farewell. His elder sibling Cyril arrived and went to have a discussion with his father for over 30minutes, he came with a message from their maternal uncle. Soon after Cyril left, Ibeto’s world crashed. His father had made a decision. Ibeto would not be going to secondary school again. A man should not put all his eggs in one basket. His two sons were already in secondary school; his last son should choose a different path. Shocked, deflated and traumatized, Ibeto resorted to all the tricks on the world, refusing to eat for days, climbing trees as if he would jump to his death crying inconsolably. But his father had made his decision. He probably felt his life was over then but now you can’t mention 10of Nigeria’s richest men without mentioning Ibeto.
Mrs Folorunsho Alakija – (Famfa Oil) – Richest woman in Africa did not attend university. When asked she said;
“If I had the opportunity of going to the university, maybe I would have come out with a second class upper or lower but that didn’t happen; that wasn’t to be my destiny,” she said.
“I would have loved to go to the university as we all know that university education is good but some of us who have not gone, it is not the end of the world”, she added.
Olamide Ayeni-Babajide, the founder of Pearl Recycling, a social-enterprise, recycling solid wastes into beautiful works of art, is doing her bits to restore the Nigerian environment.
With waste products like tyres, bottles, newspapers, magazines, straws, plastic cutleries, wood, unused CD tapes, sea-shells and every other solid waste products, Olamide makes beautiful usable household products.
She studied Computer Engineering, but found her passion in creative works of arts like gathering waste products and recycling it into furniture for homes, offices and social functions.
In a documentary aired by ChannelsTV, Olamide explained that she decided to tackle waste differently than the way the government was tackling it.
“I noticed that waste is a general problem. Waste management is a problem in Nigeria that we’ve not been able to find a solution. Most times, we see government coming up with sanctions, threats and penalties and it’s not working. So, I felt, the best way to make it work is to find a solution where people can make money out of waste or turn waste to something good”
According to the company’s website, they are different from everyday interior furniture/décor merchants.
“Ours is a different blend of interior crafting where exquisite and off the shelf home, office and personal furniture and decors are made from recycled products like woods, bottles and metals. We make Tables, Chairs, Wall mirrors, Wall Frames and Flower vases from unused materials.”
Be Inspired.Read More
No, this article is not feminist. Facts here are based on research. But it doesn’t mean I’m apologizing for the sting in male eyes (and egos) reading this. Try to ignore the gender favouritism clouding your mind and be enlightened.
According to the most recent research, women make better entrepreneurs than men. This is as a result of many traits and characters owned by women which men do not have. Despite the fact that most start-ups are founded by men, the ones started by females have very much succeeded as compared to those started by men.
Women are much more aware and emotionally intelligent about the human side of the business.
Humanity and business are colliding. We all need to run our businesses with much greater consideration for the people we interact with, our employees, our customers, our suppliers etc. Women seem to get this inherently. They want to make the world a better place. They understand the more emotive aspect of doing business and that is why they understand their customers. In an era where connecting and engaging are highly sought after by customers, women have a very distinct advantage over men.
Women are less prone to self-confidence
While 70% of men are confident their business will succeed, 40% of women don’t feel that way. This makes men reluctant when it comes to “saving for rainy days”, Unlike women who are much aware of the 50-50 chance of their business succeeding or failing, thus coming up with better strategies of avoiding business failure.
Women are better calculated risk takers
Research shows 87% of women see themselves as financial risk takers (talk about Arese), compared to 73% of men. And while 80% of women say they are likely to see opportunities where others see risk, 67% of men say otherwise.
Women are more likely to invest on long term business ideas
While 47% of women would invest in business ideas that can take up to 6 six years for the business to grow and sustain itself, 30% of men would invest in such long term ideas. Research shows majority of men would rather start a business which will start generating profits as soon as possible.Read More