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Jeff Bezos, Jack Ma on track to become trillionaires

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Jeff Bezos may be the first trillionaire the world has ever seen in 2026 if his wealth continues to grow at the current pace, a new study by Comparisun said.Bezos’s wealth is estimated at $143.9 billion as of May 14, 2020, by Forbes. The world’s richest man’s wealth was valued at $125 billion in March.

His wealth, according to Comparisun, has grown by 34% on average in the last five years despite a hefty $38 billion divorce settlement.

By implication, that “could potentially see him become the world’s first trillionaire as early as 2026, at which point he’ll be aged 62.”

Apart from Amazon in which he owns 11.2% of the stake, Bezos also owns Washington Post newspaper and Blue Origin. The Washington-based aerospace manufacturer and sub-orbital spaceflight services company is developing a rocket for commercial use.

Also on track to join the 13-figure club are Chinese real estate businessman Xu Jiayin (in second place) and Alibaba founder Jack Ma (third).

Comparisun said Jiayin may become a trillionaire in 2027 while Ma may hit the wealth milestone in 2030 when he will be 65 years old.

Another Chinese businessman Ma Huateng is listed in fourth place, Mukesh Ambani, who owns Reliance Industries, India’s most valuable company, is fifth on the list.

Facebook founder Mark Zuckerberg is also on the list in seventh place and may become a trillionaire in 2036 when he will be 56.

Comparisun’s methodology

Comparisun said the projection was done by analysing the market capitalization of the 25 highest valued companies on the “New York Stock Exchange according to Macrotrends, as well as the net worth of the richest 25 people in the world, according to Forbes, in both cases taking the last five years of data (as of September 16th).”

“For both, we then calculated the average yearly % growth over the last five years and applied this rate of growth for each future year to try and predict how the value will change,” Comparisun said on its website.

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Not everyone has welcomed the news about Jeff Bezos with cheers. In fact, the projection has raised more dust about Amazon’s alleged exploitation of its workers, especially those in the front lines during the coronavirus pandemic.

Former Democratic presidential candidate Elizabeth Warren described Amazon’s ending of the increase in overtime pay for its warehouse and delivery workers during the pandemic as “immoral”.

The $2 per hour hazard pay, which came into effect since mid-March along with an increase in overtime pay, will be stopped at the end of May, Amazon announced on Thursday.

It was originally billed to stop by the end of April and was extended to May 16 before it was pushed to the end of May.

“We’re going to do one more extension on it and push it out until the end of the month,” Dave Clark, Amazon’s senior vice president of worldwide operations, told Recode.

Another Amazon spokesperson said in a statement that the company was simply “returning to our regular pay and overtime wages” as more businesses exit the coronavirus lockdown in the United States.

But another Democratic presidential candidate Bernie Sanders described Bezos’s massive wealth gain between March and May and Amazon’s decision to return to regular pay as “unfettered capitalism at work”.

“Jeff Bezos, the owner of Amazon, has increased his wealth by $30 billion during the pandemic,” Sanders tweeted on Thursday.

“His response: end the hazard pay increases that Amazon warehouse workers have received, despite hundreds of them being infected with the virus.”

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JUST IN: Olubadan of Ibadanland, Oba Lekan Balogun joins ancestors at 81

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The Olubadan of Ibadanland, Oba Lekan Balogun has joined his ancestors after a brief illness.

He joined his ancestors at the age of 81.

It was gathered that the late monarch was taken to the hospital Wednesday morning having stayed indoor throughout Tuesday on account of slight malaria fever, though, he was hail and hearty on Monday during which he personally received few guests that paid him congratulatory visits on his second year anniversary on that day.

Making this announcement was the Baba-Kekere Olubadan and his younger brother, Dr Kola Balogun in a statement by the Personal Assistant (Media) to the late monarch, Oladele Ogunsola.

According to the statement, Dr. Balogun disclosed that Oba Balogun would be buried at his Aliiwo ancestral home by 4.00pm on Friday according to Islamic rites just as he said that the State Governor Seyi Makinde, though already verbally informed, would be formally notified early in the morning.

The late Olubadan was the first most educated to have emerged as Ibadan monarch, a British trained P.hd holder, a former university lecturer, former member of management staff of Shell British Petroleum, former gubernatorial candidate of the defunct Nigeria People’s Party, NPP, former Senator and a successful business man.

His last official outing was the Olubadan Advisory Council’s meeting which he presided over last Saturday where the decision to derobed Mogaji Akinsola, Olawale Oladoja was taken.

He however, on Tuesday instructed the Ekerin Olubadan, Oba Hamidu Ajibade to midwife a small committee to deliberate on last Friday’s decision on what should be the position of Ibadan Zone in the proposed newly reconstituted Oyo State Council of Obas and Chiefs.

The decision of the small committee was earlier on Thursday ratified by the Olubadan Advisory Council at a meeting presided over by Otun Olubadan and the former governor of Oyo State, High Chief Rashidi Ladoja and was to be taken to the late Oba Balogun for his signature Friday morning so as to meet the deadline for submission to the state Commissioner for Local Government and Chieftaincy Matters later in the day.

The late Olubadan is survived by wives, children and grandchildren.

Announcing the passage of the monarch, Governor Makinde, in a statement, stated that Olubadan, who joined his ancestors late Thursday evening at the University College Hospital, UCH, Ibadan, described him as an epitome of royal excellence and a great achiever, who made great marks on Ibadanland in just a little over two years of his reign.

He expressed his condolences to the Olubadan-in-Council, the Oyo State Traditional Council and the people of Ibadanland and Oyo State, praying to God to grant repose to the soul of the deceased monarch.

Makinde said: “With total submission to the will of God, I announce the passing unto glory of our father, His Imperial Majesty, Oba Dr. Mohood Lekan Balogun, Alli Okunmade II, the 42nd Olubadan of Ibadanland.

“A mighty Iroko has fallen; Oba Dr. Balogun has joined the ancestors.

“In Kabiyesi, Ibadanland had a cosmopolitan and well-experienced Olubadan, who made indelible marks on the sands of history and achieved greatly within a short while.

“On behalf of the Government and good People of Oyo State, I condole with the immediate family of the Oba Dr. Balogun, the Olubadan-in-Council, the Oyo State Traditional Council and the people of Ibadanland.

“It is my prayer that God grants repose to the soul of our late monarch.”

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JUST IN: Labour Party National Chairman, Abure arrested for attempted murder in Edo (Video)

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Operatives of the Edo State Police Command have arrested the National Chairman of the Labour Party (LP), Julius Abure.

Abure was arrested on Wednesday in Benin City, the Edo State capital, on allegations of premeditated attempted murder, amongst other alleged infractions.

The Labour Party chairman’s arrest followed a petition by the LP Youth Leader, Comrade Eragbe Anselm Aphimia.

The petition, addressed to the Commissioner of Police, Edo State Command, dated February 13, partly reads, “I, Comrade Eragbe Anselm, write to you with utmost urgency and grave concern regarding a heinous act of violence perpetrated against me on the 29th of December 2023.

“I am a member and National Youth Leader of the Labour Party (LP) in Nigeria, and the events I am about to recount are of utmost importance for justice and the safety of individuals involved in political activities.

“On December 28, 2023, I flew into Benin City Airport around 2 p.m. as part of an official 5-member delegation authorised by the Acting National Chairman of the Labour Party, Alhaji Lamidi Basiru Apapa.

“Our mission was to organise Ward, LGA, and State Congresses in Edo State, as well as supervise the sale of nomination forms for various posts, as mandated by INEC guidelines, within the stipulated time frames.

“On arrival at the Benin Airport, I was received by one Mrs Mary Okheime Newberry, who falsely claimed to be providing transportation and accommodation on behalf of unnamed “stakeholders.”

“She proceeded to lodge us at the Smart Homes Hotel, unknown to us that she was plotting a sinister and gruesome ambush. The next morning, a man named Austin Emeka came to pick me and my colleague, Mr Patrick Anethua, up from the hotel lobby, pretending to take us to a meeting venue.

“Instead, we were violently attacked just outside the hotel gates by a waiting mob.”

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JUST IN: Tinubu appoints new leadership for NAFDAC, NCDC

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President Bola Tinubu has approved the appointment and reappointment of chairpersons of boards and chief executive officers of agencies under the ministry of health and social welfare.

In a statement on Thursday by Ajuri Ngelale, presidential spokesperson, Tinubu approved the appointment of Mansur Kabir as the chairman of board of National Agency for Food and Drug Administration and Control (NAFDAC).

He also reappointed Mojisola Adeyeye as the director-general (DG) of the agency and appointed Olajide Idris as the DG of Nigeria Centre for Disease Control (NCDC).

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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