How Isabel Dos Santos, Once Africa’s Richest Woman, Went Broke | Glusea.com
Connect with us

News

How Isabel Dos Santos, Once Africa’s Richest Woman, Went Broke

Isabel Dos Santos
Advertisement

The daughter of Angola’s longtime former president accumulated riches through embezzlement and money laundering, an Angolan court claims. To recover what was looted, the government froze her assets. Then Portuguese authorities followed suit. 

Eight years ago, Forbes declared Isabel dos Santos the richest woman in Africa, worth an estimated $3.5 billion. The daughter of Angola’s longtime former president grew immensely wealthy in a textbook case of how to loot a country. Now, with her father out of office, her empire is a shadow of what it once was, with corruption charges levied against her by her country, assets frozen by courts in three different nations and a lawsuit claiming hundreds of millions of dollars in unpaid debt in a fourth country. Forbes assumes she has no access and likely no chance to gain back control of the frozen assets—together worth about $1.6 billion if not frozen—so we give her no value for them and by our calculations she is no longer a billionaire. As a result, Forbes has dropped Dos Santos, who was worth an estimated $2.2 billion in January 2020, from our newly released 2021 list of Africa’s richest people. 

The onetime African “princess” is by no means a pauper. She’s reported to have a home on a private island in Dubai, another residence in London and a $35 million yacht. She likely has bank accounts and assets that Forbes and legal authorities have yet to track. She is said to be splitting her time between Dubai—where her husband, Sindika Dokolo, died in a diving accident in October—and London, where Dokolo’s funeral was held in November at Westminster Cathedral. Through a spokesperson Dos Santos declined to comment.  

The Road To Riches

Advertisement

As Forbes spelled out in an August 2013 article (co-written and reported by Angolan journalist Rafael Marques de Morais), Isabel dos Santos is the eldest daughter of former Angolan President Jose Eduardo dos Santos, who ruled the country from 1979 to 2017. While he ran the poverty-stricken but oil-rich country, she garnered significant stakes in Angola’s strategic industries—banking, cement, diamonds and telecom—making her the most influential businessperson in her homeland. More than half of her assets were stakes in Portuguese companies, adding international credibility. (Angola, a former Portuguese colony, achieved independence in 1975.) When Forbes outed her as a billionaire in January 2013, the government disseminated the news as a matter of national pride, living proof that the country had arrived.

As best we could trace, every major Angolan investment held by Dos Santos stemmed either from taking a chunk of a company that wanted to do business in the country or from a stroke of the president’s pen that cut her into the action. Her story was a rare window into the tragic kleptocratic narrative that grips resource-rich countries around the world.

In Portugal, the companies Dos Santos invested in—several banks, a cable TV company and an engineering firm—turned a blind eye to the questionable source of her investment funds, says Ana Gomes, a former member of the European Parliament and a member of Portugal’s Socialist Party (and currently a candidate for president in Portugal). “When she bought stakes in banks in Portugal . . . I kept saying, ‘What is the origin of the money? Why are you allowing her to launder money through our system?’” laments Gomes, who filed details of the alleged money laundering with Portuguese judicial authorities starting in 2016. No action was taken in response.

In early 2020 Dos Santos sued Gomes for defamation in a Portuguese court. She took issue with Gomes tweeting and going on TV saying that Dos Santos’ bank was a money laundering machine for her. Dos Santos lost the case, but her lawyers have appealed the ruling.

Advertisement

Source : Forbes

Advertisement
Advertisement
Advertisement
Advertisement

Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual live his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspire higher in ;life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. welcome to the Glusea family.. we love you dearly contact us via email : gluseagh@gmail.com

News

Melinda French Gates Now A Billionaire After Stock Transfer From Bill Gates

Melinda French Gates
Advertisement

According to reports from Forbes, Melinda Gates is now officially a billionaire. After the two announced their decision to end their 27-year-old marriage.

Bill’s investment vehicle, Cascade Investment, transferred $1.8 billion in securities to Melinda on Monday, May 3, the same day the pair announced their surprise divorce, according to SEC filings. That makes Melinda worth at least $1.8 billion, while the stock transfer puts a slight dent in Bill’s net worth, which fell to an estimated $128.6 billion, from $130.4 billion. Even after the ten-figure transfer, the Microsoft cofounder remains the fourth-richest person in the world. 

Melinda received 2.94 million shares of AutoNation and 14.1 million shares of Canadian National Railway Co., which are worth $309 million and $1.5 billion, respectively. (Bloomberg News first reported the transfer.) Bill uses Cascade Investment, a holding company based in Kirkland, Washington, to manage his money, including the proceeds from selling Microsoft shares. Bill at one point owned a significant slice of Microsoft, but has given away (to the Gates Foundation) or sold most of his stake over the years and now holds less than 1%.

The stock transfer is almost certainly part of Bill and Melinda’s divorce settlement. While it’s unclear if they signed a prenup, according to their divorce filing Bill and Melinda asked a judge in Washington State to divide their assets based on the terms of a separation contract—a document that is typically signed when spouses are living apart but have not yet divorced. The terms of the contract weren’t disclosed. Bill may have also transferred other assets to Melinda in nonpublic transactions. 

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Biden Appoints Nigerian-Born Adewale Adeyemo As US Deputy Treasury Secretary

Adewale Adeyemo
Advertisement

US President-elect, Joe Biden has appointed Nigerian-born attorney, Adewale  Adeyemo, as Deputy Treasury Secretary

“It’s official! Wale Adeyemo becomes the first-ever Nigerian American Deputy Secretary of the US Treasury, in the history of the country!! Congrats to Wale,” the Chairman of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa tweeted on Monday, confirming the appointment of the former senior international economic adviser during the Obama administration.

Adeyemo will serve under former Federal Reserve Chair Janet Yellen, who Biden plans to appoint to lead the US Treasury Department.

Born in Nigeria, Adeyemo was raised in California where he obtained a bachelor’s degree before proceeding to Yale Law School for his legal education.

Advertisement

Adewale Adeyemo

Before his appointment into the Obama administration, Adeyemo worked as an editor at the Hamilton Project, then served as senior advisor and deputy chief of staff to Jack Lew in the United States Department of Treasury.

He later worked as the chief negotiator for the Trans-Pacific Partnership and also served as the first chief of staff of the Consumer Financial Protection Bureau under Elizabeth Warren.

In 2015, he was appointed to concurrently serve as Deputy National Security Advisor for International Economics and deputy director of the National Economic Council.

He went on to become the first president of the Obama Foundation.

Advertisement

According to Politico, Biden is also expected to name Cecilia Rouse, an African American economist at Princeton University, to lead the Council of Economic Advisers.

Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Elon Musk Is Not The Second Richest Person In The World — Here’s Why

Elon Musk
Advertisement

Thanks to Tesla’s roaring stock, Elon Musk’s net worth has nearly quadrupled during the Covid-19 pandemic, racing from $24.6 billion in mid-March to a current $126.8 billion by Forbes’ estimate. But despite this meteoric rise, the 49-year-old is not the world’s second-richest person yet

Forbes currently has Musk in the No. 3 spot, behind Jeff Bezos, who reigns supreme at $182.6 billion, and French luxury goods tycoon Bernard Arnault, worth $140.6 billion. With the surge in the value of Tesla shares this week, Musk surpassed Bill Gates, who is now in fourth place, worth $119.4 billion

Musk owns 21% of Tesla but has pledged more than half his stake as collateral for personal loans; Forbes applies a 25% discount to his shareholding to account for the loans. Musk’s net worth estimate includes $25 billion worth of options that he was awarded since May as part of  a historic 12-tranche compensation plan. 

Musk became eligible for the fourth tranche in late October after Tesla exceeded the cumulative EBITDA requirement, but Tesla has yet to confirm in public filings that it has certified the results. A representative for Musk did not reply to a request for comment from Forbes in time for publication. Until the receipt of the fourth tranche is confirmed, Forbes is only counting some 25 million options from the package towards Musk’s net worth.

Advertisement

Musk also owns an estimated 48% of SpaceX, the rocket company that recently made its first launch with astronauts on board. Investors valued SpaceX at $46 billion in August. After applying Forbes’ 10% private company discount, Musk’s SpaceX stake is worth just under $20 billion.

Tesla’s shares have risen 36% since Tuesday November 17 when S&P Global announced that the electric car company would be added to the S&P 500 index on December 21. The addition to the index means that more mutual funds tied to the S&P 500 will buy Tesla stock. 

With a current market capitalization of $525 billion, Tesla is worth far more than Toyota ($198 billion) and GM ($66 billion) combined. In the first three quarters of 2020, Tesla delivered 318,000 cars, a small fraction of the number produced by the world’s larger automakers.

“I really couldn’t care less,” Musk emailed Forbes about his net worth in July. “These numbers rise and fall, but what really matters is making great products that people love.”

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Nana Ama McBrown Falls and Breaks her Arm, Rushed to Hospital for Surgery

Nana Ama Mcbrown
Advertisement

Nana Ama McBrown’s heavily watched Saturday night program United Showbiz has been notably off-air for the past couple of weeks.

The Kumawood star turned presenter has now come out to explain the reason why she’s been off-air to her fans.

According to McBrown, she fell down and broke her arm recently, the same arm which got injured in 2013 when she was involved in an accident and needed two surgeries to fix.

Metal supports which had been put in her arm after her 2013 accident had to be refixed due to her new injury.

Advertisement

McBrown said the procedure was very painful but she’s on the road to recovery now.

She assured everyone she would be back on United Showbiz very soon.

Saturday nights have not been the same without her show. We wish her a very speedy recovery!

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Elon Musk’s advice to CEOs: Make your product ‘as awesome as possible’ and ‘seek negative feedback from all corners’

Elon Musk
Advertisement

Tesla and SpaceX founder Elon Musk has some advice for CEOs: Make better products, seek negative feedback and ditch those PowerPoints presentations.

“Are CEOs from corporate America focused enough on product improvement? I think the answer is no,” Musk said Tuesday at the WSJ CEO Summit.

But that is vital, so CEOs should spend less time focusing on things like financials, according to Musk, and spend more time “just trying to make your product as amazing as possible.”

Musk urges CEOs to take a step back and say, ”‘Is our product as awesome at it could be?’ Probably not. What could you do to make it great?”

Advertisement

“I just honestly would recommend to anyone listening…just spend less time in meeting[s], less time on PowerPoint presentations, less time on spreadsheets and more time on the factory floor or time with customers,” Musk said at the WSJ summit.

The ultimate goal is to be an “absolute perfectionist about the product that you make or the service that is provided [and] seek negative feedback from all corners…from customers…from people who aren’t customers,” Musk said.

Even if an executive doesn’t specialize in product innovation per se, Musk said the skill is “learnable.” “It’s not some mysterious thing,” he said.

Because if you are only focusing on the bottom line, you are “barking up the wrong tree.”

Advertisement

In fact, the biggest problem with corporate America today may be that there are “too many MBAs running companies,” Musk said.

Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Elon Musk Is Back At No. 1 Richest Person In The World After Tesla Stock Rebounds

Elon Musk net worth 2020
Advertisement

Tesla’s TSLA billionaire CEO and cofounder, Elon Musk, is again the richest person in the world after shares of his electric-vehicle maker rebounded on Tuesday. Just $1.4 billion below him is Jeff Bezos at No. 2 richest.

Tesla’s stock rose by 4.7% on Tuesday, pushing Musk’s net worth up by $7.8 billion, to $183.8 billion. That bumps him up to number one spot as the wealthiest person on the planet, according to Forbes’ estimates. Musk is now just ahead of Amazon AMZN +0.2% CEO Jeff Bezos, who has a net worth of $182.4 billion.

Musk first passed Bezos to claim the title of world’s richest person last Friday, but then dropped to the No. two spot on Monday as Tesla shares fell nearly 8%.

His fortune has grown at an unprecedented rate over the past year, rising by around $160 billion since March 2020, when he was worth $24.6 billion. Much of that increase is thanks to Tesla’s skyrocketing stock price (shares rose more than 720% in 2020). The electric-vehicle maker was added to the S&P 500 Index in late December 2020, a move that further drove up its share price. 

Advertisement

As Tesla hit various milestones over the course of 2020, Musk received several tranches of options worth billions of dollars each. The Tesla board of directors typically has to first certify the award of each tranche, and then issue a statement in a regulatory filing with the Securities and Exchange Commission. Musk appears to be eligible for another tranche of 8.44 million options—worth nearly $6.6 billion as of Tuesday’s closing price—but Forbes hasn’t yet attributed these options to Musk because the board hasn’t publicly certified them. (Bloomberg appears to count Musk’s latest tranche of options in its net worth calculations for Musk.)

Musk initially passed Facebook CEO Mark Zuckerberg and Microsoft MSFT-1.2% cofounder Bill Gates to claim the title of world’s fourth-richest and third-richest person, respectively, in November 2020. Zuckerberg is now worth $92.4 billion and Gates $121.6 billion, according to Forbes. A month later, Musk leapfrogged French luxury tycoon Bernard Arnault (who is worth $151.4 billion) to become the second-richest person on the planet.

Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Revealed: How a CEO Went from Making $50k a Week to $50 k a Year

Ronni Kahn
Advertisement

For most investors, their dream is to make a lot of money from their business before thinking about what to do with the excess. This was no the case with Australian CEO Ronni Kahn. She left her lucrative business that was paying her $50k a week to managing a charity that would pay her $50 k a year.

Before Ronni Kahn became the CEO of global food charity, OzHarvest, she owned an event management business – a role that would see her bring in around $50,000 a weekend.

Then, in 2009, she won Vodafone’s World of Difference award, which requires the recipient to work solely on a charity of their choice – in exchange for a salary of $50,000.

Having founded OzHarvest in 2003 and worked simultaneously on the charity and her business, she had to choose between a lucrative business, or a start-up charity.

Advertisement

“I decided it was time to dive without a parachute,” she revealed to The New Investors host, Sarah O’Carroll.

“I left a business that sometimes could have made $50,000 on a single weekend – but it was the best thing I ever did.”

Who is Ronni Kahn?

Ronni Kahn AO is an Australian social entrepreneur, best known for founding the food rescue charity OzHarvest.

Born in South Africa, Kahn moved to Israel where she lived on a kibbutz for many years before emigrating to Australia in 1998 and starting an events management business. On a vacation to South Africa, she was galvanised into action by a friend when visiting Soweto who told her that “she was responsible for electricity in Soweto”.

Advertisement

Read How Covid 19 has made Billionaires

Kahn recalls that was the moment her life of purpose began. I knew I had to come back and do something meaningful for other people…”Building on her experience in corporate hospitality, she was shocked by the amount of food waste, although not initially aware of the relationship between food waste and environmental problems.

Read Entrepreneur Changing the Game of Geriatrics

A Repurposed Life

Kahn’s memoir A Repurposed Life was released in 2020. Kahn said: “I didn’t grow up being ambitious about anything, but when you find your calling, then you are empowered by a force that is unstoppable.”

Advertisement

Awards

Ronni Kahn has been acknowledged as a leader in the fields of entrepreneurship, social impact and innovation. Her contributions have been widely recognised through numerous awards including:

  • 2010 Australia’s Local Hero, Australian of the Year Awards, in recognition of her work founding OzHarvest.
  • 2010 Enriched List, American Express
  • 2011 InStyle Woman of Style Award – Community /Charity category
  • 2012 Veuve Clicquot Award Business Woman Tribute Award for Innovation, Entrepreneurial Skill and Contribution to the Community
  • 2012 Ernst & Young Social Entrepreneur of the Year
  • 2017 BOSS magazine Top 21 True Leaders
  • 2017 Gourmet Traveller Outstanding Contribution to Hospitality
  • 2017 Griffith University Doctor of the University (honoris causa)
  • 2018 The Australian Financial Review 100 Women of Influence award for social enterprise and not-for-profit
  • 2019 Officer of the Order of Australia (AO). For distinguished service to social welfare, particularly through the development and delivery of innovative programs.
Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

NET WORTH

Rob Holding Net Worth

Rob Holding net worth
Advertisement
Full nameRobert Samuel Holding
Net worth1.8 Million Euro
Date of Birth20 September 1995
Place of BirthStalybridge, Manchester,
NationalityEnglish
OccupationProfessional footballer
Current teamArsenal

What is Rob Holding Net Worth?

Rob Holding Net Worth: Robert Samuel Holding is an English professional footballer who plays as a centre back for Premier League club Arsenal. Rob Holding net worth is 1.8 Million Euro.

Early life

Holding was born and raised in Stalybridge, Greater Manchester. He attended West Hill School in the town.

REad Marcos Rashford net worth

Holding played for Stalybridge Celtic Juniors before joining the Bolton Wanderers youth system at the age of seven. He joined League Two club Bury on loan on 26 March 2015 for rest of the 2014–15 season.

Advertisement

Holding signed for Premier League club Arsenal on 22 July 2016 for a fee of around £2 million.  Following injuries to centre backs Per Mertesacker and Gabriel Paulista, he was called upon to make his Arsenal debut in the 2016–17 Premier League season opener on 14 August 2016 against Liverpool, which Arsenal lost 4–3 at home.

Read Che Adams net worth

In the final two months of the season, Holding became a regular member of Arsenal’s starting line-up, with the team winning all six of the matches he played in the Premier League.

 He played the full 90 minutes in Arsenal’s 2–1 victory over Chelsea on 27 May in the 2017 FA Cup Final at Wembley Stadium.

Advertisement

Holding played in the 2017 FA Community Shield on 6 August which Arsenal won 4–1 penalty shoot-out to Chelsea after a 1–1 extra-time draw.

 He scored his first Arsenal goal on 28 September 2017 with a close-range shot in their 4–2 away win over BATE Borisov in the UEFA Europa League. He signed a new long-term contract with the club on 1 May 2018.

International career

Holding was called up to the England under-21 squad for the Toulon Tournament May 2016 as a replacement for Everton defender Brendan Galloway.

 He made his debut for Gareth Southgate’s team when starting against Guinea on 23 May. England won the tournament with Holding making two appearances, and was an unused substitute in the final on 29 May as England beat France 2–1.

Advertisement

Read Harry Kane net worth

 He was selected for England’s squad for the 2017 UEFA European Under-21 Championship in Poland, but did not make an appearance with England eliminated in the semi-final. Holding made five appearances for the under-21s from 2016 to 2017.

thanks for reading Rob Holding Net Worth

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

Social and Lifestyle

How to Download Gh Covid 19 Tracker app

Gh Covid19 Tracker app
Advertisement

Learn How to Download Gh Covid19 Tracker app here

The Gh Covid19 tracker app was designed and launched by the government of Ghana to help control the spread of Covid-19 in the country.

The app is designed not to give health advice but to assess your symptoms and help control of covid-19. If you need health advice or updates on covid-19, visit the Ghana health service website here.

  1. Log onto ghcovid19.com
  2. Accept the terms and conditions by clicking on the box indicated
  3. Click on the download link to download the app

Gh Covid19 Tracker app

You would have to grant permission in the settings before you can install

  1. Enter your mobile number and email address in the spaces provided.
  2. Click proceed to move to the next stage.
  3. Enter information about your self-including; your age, gender, recent travel history. Click next to proceed
  4. Provide information about your health including; whether you smoke or not, presence of any pre-existing conditions including; Lung cancer, Asthma, Heart disease, Diabetes, Kidney disease, Cancer etc
  5. Complete the required information indicating clearly if you have any symptoms including; fever, cough, shortness of breath, loss of taste or smell.

Gh Covid19 Tracker app

How to Access the Ghcovid 19 tracker app without a smart phone

If you have any issues downloading the android app, you can call the ministry on 0307007001 or short code 769.

Advertisement

You can also use the USSD service by dialing *769# and answer the questions.

Advertisement

Advertisement

Thank you for reading and stay safe.  

Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

News

Ghana’s Covid-19 cases Shoots to 636

Ghana’s Covid-19 cases
Advertisement

Ghana’s  Covid-19 cases are now 636.

Ghana’s Covid-19 cases now stand at 636 after 70 new cases were confirmed by health officials, Tuesday.

The number of regions affected are still 10, with six regions yet to record a case

A total of 44,421 persons have been tested for the disease, the Ghana Health Service said in an update.

Greater Accra Region also remains the epicentre for the pandemic with the number of cases in the region now at 509.

Advertisement

The Ashanti and Eastern Region follow with 53 and 41 Covid-19 cases respectively.

Advertisement

The Northern region still has 10 cases while Volta region stands at nine cases of the novel coronavirus.

Upper West Region has recorded seven and neighbouring Upper East region has four cases.

Western and Central Regions have recorded a case each.

Meanwhile, major parts of the Greater Accra region and the Ashanti region remain under lockdown.

Advertisement

SITUATION UPDATE, COVID-19 OUTBREAK IN GHANA AS AT 13 APRIL 2020, 23:00 HRS

 

In the past two weeks since the institution of enhanced surveillance, restriction of movement and continuous public education to prevent the spread of cases of COVID-19. Several cases have been recorded as a result of intensive contact tracing and testing.

As of 13th April 2020, at 23:00HRS, a total of 44,421 persons have been tested with 636 being positive for COVID-19. The breakdown of the 636 positive cases are as follows: seventeen (17) have been treated, reverted to negative on repeat tests and discharged, 605 cases have been categorised as mild disease and are on treatment, two (2) are categorized as moderate to severe cases, none in critical state currently and eight (8) have died.

Advertisement

Of the 636 confirmed COVID-19 cases, 268 were reported from the routine surveillance, 253 from enhanced surveillance activities and 115 from travellers under mandatory quarantine in both Accra and Tamale.

Advertisement

Regions that have reported cases are Greater Accra, Ashanti, Central, Eastern, Western, Volta, Northern, North East, Upper East, and Upper West regions.

Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

Content on this website is protected by DMCA.  Dont waste your time copying because you would eventually remove it.

Latest Post

Advertisement Enter ad code he re
Advertisement
Advertisement Enter ad cod e here

Davido net worth

Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual lives his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as a way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspires higher in; life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. Welcome to the Glusea family.. we love you dearly contact us via email: gluseagh@gmail.com Copyright © 2022, Glusea