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Tag: Forbes

  • Michael Jackson tops Forbes’ 2025 list of highest-paid deceased celebrities

    Michael Jackson tops Forbes’ 2025 list of highest-paid deceased celebrities

    Late American singer Michael Jackson has been crowned the highest-paid deceased celebrity of 2025 by Forbes magazine, raking in an estimated $105 million in pre-tax earnings.

    The King of Pop’s financial dominance is attributed to a lucrative deal with Sony Music, where the estate sold a 50% stake in his master recordings and publishing catalog for a whopping $600 million.

    Jackson’s estate has generated a sum of $3.5 billion since his passing in 2009, solidifying his position as the most posthumously successful celebrity of all time.

    His Broadway hit, MJ: The Musical, has grossed nearly $300 million worldwide, while his long-running Las Vegas residency, Michael Jackson ONE, surpassed 5,000 performances this year.

    Other notable musicians on Forbes’ annual list include Prince, John Lennon, and Bob Marley, who collectively earned $541 million in the past year.

    Dr. Seuss secured the second spot with $85 million in earnings, driven by robust book sales and Netflix licensing deals. 

    Pink Floyd co-founders Richard Wright and Syd Barrett each earned $81 million after Sony purchased the band’s catalog for $400 million.

    Jackson’s influence extends beyond record sales, with his estate’s empire continuing to expand.

    A highly anticipated biopic, “Michael,” starring his nephew Jaafar Jackson, is set to premiere in April 2026, expected to drive another wave of renewed interest and earnings.

  • Dangote, others on Forbes billionaires list, proof of prosperity – TMSG

    Dangote, others on Forbes billionaires list, proof of prosperity – TMSG

    The Tinubu Media Support Group (TMSG) says the presence of four Nigerian entrepreneurs on the 2025 Forbes list of Africa’s 22 wealthiest individuals is proof of prosperity in the country.

    Mr Emeka Nwankpa, Chairman of the group, said this in a statement made available to the News Agency of Nigeria (NAN) Abuja on Tuesday.

    Nwankpa noted that it was instructive that Dangote Refinery was instrumental to Aliko Dangote retaining his position as Africa’s richest man.

    “Like many Nigerians, we are enthused that four Nigerians whose wealth was largely homegrown and sustained in the last year are on the Forbes list of Africa’s 22 billionaires in dollars.

    “Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are all on the 2025 Forbes billionaires list, which also has seven South African nationals among Africa’s wealthiest individuals,” he said.

    He also said that it was noteworthy that Dangote retained his position as Africa’s richest person for the 14th year in a row.

    This he said was because his net worth increased from 13.9 billion dollars to 23.9 billion dollars in 2024 as a result of the inclusion of Dangote Refinery’s valuation in Forbes’ calculations.

    “This, for us, is a clear indication of prosperity in Nigeria and there is a strong possibility that by the time Abdulsamad Rabiu, who is sixth on the list with a fortune of 5.1 billion dollars, completes his BUA Refinery in Uyo, his ranking will improve.

    “And there is Mike Adenuga, who is ranked fifth in Africa with a net worth of 6.8 billion dollars, mainly as a result of his ownership of Nigeria’s first private indigenous telecom company.

    “The fourth Nigerian on the Forbes list, Femi Otedola, with a net worth of 1.5 billion dollars, is known to be actively diversifying his business concerns from the downstream sector of the oil industry to banking and power generation through his Geregu Power Plant,” he added.

    Nwankpa noted that each of the billionaires grew their wealth by at least 25 per cent in the first 22 months of the Tinubu administration.

    “This cannot be coincidental, and for us it is an indication of the immense opportunities in the country.

    “It is therefore not surprising that foreign investors are trooping into the country, even at a time that opposition elements are spinning doomsday scenarios on the national economy,” he further said.

    He expressed optimism that more Nigerian entrepreneurs with wealth linked to the stock market would make subsequent Forbes list of Africa’s billionaires in the aftermath of President Tinubu’s pro-business policies.

    (NAN)

  • Three Nigerians make Forbes list of 50 wealthiest black Americans 2024

    Three Nigerians make Forbes list of 50 wealthiest black Americans 2024

    • Adebayo Ogunlesi, Tope Awotona, Wemimo Abbey make list

    Forbes has unveiled its 2024 ForbesBLK 50 list, celebrating the achievements of the wealthiest and most influential Black Americans.

    Forbes said: “Adebayo Ogunlesi, with a net worth of $1.7 billion, stands out as a pioneering force in global infrastructure investment.

    “As chairman and co-founder of Global Infrastructure Partners (GIP), Ogunlesi led the private equity firm through a transformative acquisition by BlackRock in 2024 for $12.5 billion.

    Read Also: Diri’s investment in education, infrastructure recognized by Forbes

    “Tope Awotona, the founder and CEO of Calendly, has redefined efficiency in scheduling and holds a net worth of $1.4 billion.

    “Wemimo Abbey, at just 32, is the youngest Nigerian on the list and co-founder of Esusu, an African fintech company addressing financial inclusion.

    “Esusu helps renters build credit by reporting rent payments to credit bureaus, a service utilised by more than 20,000 properties and benefiting 1.8 million Americans. Congratulations to them. This shows that you do not need to do anything illegal to be recognised.

    “It does not come as a surprise that only men from the Yoruba Ethnic group made it to the list.”

  • Michael Jackson ranks highest paid dead on Forbes list

    Michael Jackson ranks highest paid dead on Forbes list

    Late renowned American singer, Michael Jackson, fondly called ‘King of Pop’, has topped the list of the world’s highest-paid dead celebrities of 2023.

    According to Forbes magazine’s 2023 annual list released on Tuesday, October 31, Micheal Jackson is worth $115 million in earnings.

    This is the first time Jackson has held the top spot in four years.

    Jackson’s late father-in-law, Elvis Presley came in second place with an estimated $100 million in earnings.

    Other deceased celebrities who made the top 13 deceased list include Bob Marley, Prince, John Lennon, and Whitney Houston.

    The late celebrities earned a rough estimate of $470 million during the past year. A 70 percent decrease from 2022.

    They were ranked based on their pretax earnings from sales, licensing deals, streams and other sources of income between October 1, 2022, and September 30, 2023.

    See the list below:

    US singer, Michael Jackson – $115 million

    US singer and actor, Elvis Presley – $100 million

    US keyboardist, Ray Manzarek – $45 million

    US cartoonist, Dr. Seuss – $40 million

    US cartoonist, Charles M. Schulz – $30 million

    US singer, Prince – $30 million

    Read Also: I’m more glorious than Micheal Jackson, Portable declares

    US singer, Whitney Houston – $30 million

    British singer, John Lennon – $22 million

    Jamaican singer, Bob Marley – $16 million

    US singer, Bing Crosby – $14 million

    British singer, George Harrison – $14 million

    US golfer, Arnold Palmer – $10 million

    US singer, Marilyn Monroe – $10 million

  • Three Nigerians who made Forbes’ 2023 Billionaires List

    Three Nigerians who made Forbes’ 2023 Billionaires List

    Forbes magazine released a list of 2,460 individual billionaires for its 2023 Billionaires list.

    Three Nigerians were on the list of the 2,460 individual billionaires globally

    Here are the three Nigerians on the list:

    1. Aliko Dangote:

    Aliko Dangote is the founder and president/chief executive of the Dangote Group, the largest conglomerate in West Africa. He is the richest person in Africa.

    One of the Group’s subsidiaries, Dangote Cement Plc, is the largest listed company in West Africa and the first Nigerian company to join the Forbes Global 2000 Companies list.

    2. Abdul Samad Rabiu:

    Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining, and real estate.

    The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.2% of it.

    He set up his own business in 1988 importing iron, steel, and chemicals.

    He is No. 4 on the Africa’s billionaires list

    Read Also: Billionaires work to foot my bills as full-time side chick – Bobrisky

    3. Mike Adenuga:

    Chief Michael Adeniyi Agbolade Ishola Adenuga Jr is a Nigerian billionaire businessman and the third richest person in Africa.

    His company Globacom is Nigeria’s second-largest telecom operator and also has a presence in Ghana and Benin.

    He owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company).

    Forbes estimated his net worth at $6.2 billion as of May 2021

    He is the sixth on Africa’s billionaires list.

  • Forbes-rated socialite Sir Uyi announces date for grand opening of VANITI Lagos

    Forbes-rated socialite Sir Uyi announces date for grand opening of VANITI Lagos

    Forbes-rated socialite #Uyi Ogbebor aka Sir Uyi has announced date for the grand opening of the much-talked about club, VANITI Lagos.

    Sir Uyi, a household name in the hospitality industry, had recently announced the launch of VANITI Lagos, one of the biggest clubs in Africa.

    Uyi, whose company, HWP Group houses many other companies including top clubs, Moscow Underground, Hustle & Bustle, Whiskey Mistress and Magic City, is set for another groundbreaking opening on September 29, 30, and October 1, 2023.

    Read Also: Lagos to connect 10,000 youths to private jobs

    In a post on his official social media handles announcing the dates of the grand opening, he wrote: “For a fact, it is no longer a rumor, we are yet to unveil the most anticipated quest, bet you don’t even know you are on it.

    “The Countdown trickles…
    As we go live on the 29th/30th & 1st Oct.

    “You are required to come quench that long burning desire at V A N I T I Lagos.”

    Many have said the club located at 17 Adeola Odeku Street Victoria Island Lagos with its architectural design remains the new wonder of Lagos.

  • Forbes-rated Abuja socialite #Sir Uyi unveils #VANITI Lagos, boosts nightlife in South West

    Forbes-rated Abuja socialite #Sir Uyi unveils #VANITI Lagos, boosts nightlife in South West

    Forbes-rated socialite #Uyi Ogbebor aka Sir Uyi is set for the groundbreaking opening of a new club in Lagos.

    Uyi, whose company, HWP Group, houses many other companies including top clubs, Moscow Underground, Hustle & Bustle, Whiskey Mistress and Magic City  has been partnering with investors and socialites to transform nightlife in Abuja.

    #VANITI Lagos is one of the new wonders of the commercial city with those who have visited the club under heavy renovation rating it as one of the best across the nation.

    Read Also: Experts proffer solutions to Cameroon’s dam flooding

    This is obviously because of the plans and the architectures already put in place to give the new club the much desired aesthetics.

    Uyi had grown all his companies from the scratch and set a standard in the entertainment  industry, a standard competitors could rarely match.

    The date of official unveiling of the club is yet to be announced but the level of work done so far indicates that #VANITI Lagos will be opened for business soon.

    The business tycoon also delved into estate business with an ongoing estate project in the heart of Abuja. Apex Garden Estate is one of the best architecturally in the nation’s capital.

  • Forbes: Dangote’s wealth down by $2b

    Dangote Group President Aliko Dangote has retained his Africa’s richest man position for the eighth consecutive time despite the fact that his wealth dipped by $2 billion.

    Dangote’s net worth value, which stood at $12.2 billion in January, last year, is down to $10 billion a year after, the Forbes’ Africa Billionaires List released yesterday showed.

    But Globacom Chairman Mike Adenuga Jnr, with interests in oil exploration and real estate has moved up, ranking next to Dangote as Africa’s second richest man.

    The United States (U.S.) magazine said Adenuga’s net worth rose tremendously from $5.3 billion to $9.2 billion because he provided more detailed information about his assets.

    BUA Group Chief Executive Officer Abdulsamad Rabiu featured on the list for the first time since 2015.

    The merger between Rabiu’s Kalambaina Cement firm with the Cement Company of Northern Nigeria, which he controlled, in December, last year, was formally consummated in Sokoto earlier this week. He now owns 97 per cent of the entity.

    Kalambaina, which operates a new cement production facility, started selling cement mid-last year just as Rabiu’s OBU Cement has expanded its operations, adding a new production line.

    Mrs Folorunsho Alakija, whose net worth dropped to $1.1 billion from $1.3 billion, was ranked 19th. She is vice chair, Famfa Oil, an indigenous oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset. Famfa Oil’s partners include Chevron and Petrobras.

    Mrs. Alakija’s first company was a fashion label, whose customers included former military President Ibrahim Babangida and his wife, the late Maryam.

    The Federal Government awarded Mrs. Alakija’s company an oil prospecting license in 1993, which was later converted to an oil mining lease.

    Mrs. Alakija’s ranking tied with South African banker, Michiel Le Roux.

    Forbes blamed plunging stock values and weaker currencies for the shrinking in the billionaires club in Africa.

    It said: “Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago.

    “Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”

    In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco-two.

    Forbes found one billionaire each in Algeria, Angola, Tanzania and Zimbabwe.

  • Forbes: Dangote’s wealth dips by $2b, Adenuga‘s up by $3.9b

    President, Dangote Group, Alhaji Aliko Dangote retained his Africa’s richest man position for the eighth consecutive time though his wealth dipped by $2 billion from $12.2 billion in January 2018 to $10 billion this year, Forbes’ Africa Billionaires List released yesterday showed.

    The Chairman of Globacom with interests in oil exploration and real estate, Dr Mike Adenuga Jnr  moved up to be Africa’s second richest man.

    The United States (U.S.) magazine said Adenuga’s net worth increased tremendously from $5.3 billion to $9.2 billion because he provided more detailed information about his assets.

    Also, the Chief Executive Officer of BUA Group, Alhaji Abdulsamad Rabiu, featured on the list for the first time since 2015.

    The merger between Rabiu’s Kalambaina Cement firm with Cement Company of Northern Nigeria, which he controlled, in December 2018 was formally consummated in Sokoto earlier this week. He now owns 97 per cent of the entity.

    Kalambaina, which operates a new cement production facility, started selling cement in mid-last year just as Rabiu’s OBU Cement has expanded its operations, adding a new production line.

    Mrs Folorunsho Alakija, whose net worth dropped to $1.1 billion from $1.3 billion, was ranked 19th. She is vice chair, Famfa Oil, an indigenous oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset. Famfa Oil’s partners include Chevron and Petrobras.

    Alakija’s first company was a fashion label whose customers included the wife of former military President Ibrahim Babangida.

    The Federal Government awarded Alakija’s company an oil prospecting license in 1993, which was later converted to an oil mining lease.

    Alakija’s ranking was in a tie with South African banker, Michiel Le Roux.

    Forbes blamed plunging stock values and weaker currencies for the shrinking in the billionaires club in Africa.

    It said: “Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago.

    “Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”

    In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco- two. Forbes found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe.

  • Forbes rates industrialist Dangote among world’s top 75

    INDUSTRIALIST Aliko Dangote has been ranked among 75 most powerful persons on the planet.

    He is ahead of United States (U.S.) Vice President Mike Pence.

    Dangote, according to the Forbe’s latest 2018 ranking of the World Powerful people,  is ranked among world leaders like Chinese President Xi Jinping, Russian President Vladimir Putin and U.S. President Donald Trump – all of whom were ranked first, second and third.

    Dangote, who is chairman of Dangote Group, was ranked 66th most powerful person in the world ahead of Pence (ranked 67) and Qamar Javed Bajwa, the highly influential Chief of Army Staff of Pakistan, ranked 68.

    The Africa’s richest man is the only Nigerian on the list and one of the only two Africans, who made the list with the other being the Egyptian President, Abdel Fattah el-Sisi, who was ranked 45th most powerful.

    Dangote  produces 44 million metric tonness of cement annually across the African continent and still plans to expand and increase its output by 33 per cent by 2020.

    According to the Forbe’s rich list, Dangote as at March 2018 had an estimated net worth of $14.1 billion and ranked among the 100 richest in the world.

    He is the richest in Africa, a position he has held for almost a decade.

    He reached the peak in 2014, when he came 23rd richest in the world and in 2013 surpassed the Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi by over $2.6 billion to become the world richest person of African descent.

    The Dangote Group President has often made such lists due to his business concerns and humanitarian efforts in Nigeria and other parts of the world, especially his efforts through the Aliko Dangote Foundation to rid Nigeria and Africa of polio, malaria and mal-nutrition.

    His efforts in this regard was recognised by the United Nations, which appointed him, Malaria Ambassador.

    Dangote stepped up his humanitarian activities recently spending billions of Naira to build hospitals and critical hospital equipment, the lack of which has forced Nigerians of means to seek medical attention abroad.

    He also donated a N1.2 billion Business School complex to Bayero University in Kano and is presently constructing a similar one for the University of Ibadan Business School.

    The business mogul has continued through the foundation by disbursing N10 billion to vulnerable women across the 774 local governments in the country.

    Dangote made a donation of $2 million to the World Food Programme as part of efforts to help Pakistani nationals devastated by floods in the year 2010.

    Aliko Dangote was made the chairperson of the Presidential Committee on Flood Relief, which raised in excess of N11.35 billion.

    Dangote himself contributed N2.5 billion, an amount higher than the entire contribution from the 36 state governors.