ebamma 3: Ebamma3
my networth = 1585 naira

you be the 1billiont richest man in the world

I'm worth one billion naira in those failed nigeria banks... I will soon retrieve my billions..

obowunmi: A monopolist is not the epitome of success.

Then what is the epitome of success? I guess it's "staying on nairaland & hating on people's success like most Nigerians do right?" This man didn't choose to monopolize the Nigerian market rather the Nigerians chose to make him monopolize the sector. While Nigerians like you didnt/don't believe in your country, the man was/is working hard to come up with commodities that the average Nigerian can't do without. If that isn't being business-smart, then I don't know what it is. Where are the other Nigerians that have money.? Why haven't they been able to break into the monopoly like people like Dangote, Adenuga, & the Innoson chairman etc?
1. They are either not business -smart or they are lazying about & waiting to steal government money.
2. They don't believe in Nigeria or the Nigerian market.
3. They lack innovation.
Even on here on Nairaland, many people have bad-mouthed Innoson motors & said they won't ever buy a car made in Nigeria. Well guess what? That doesn't change the c. e. o's ambitions & when in a few years he's being tagged as one of the richest men, lazy Nigerians as always would accuse him of being a thief who has monopolized the Nigerian market.

msauza the looser, what has your anti nigerian sentiment fetched you if not a circadian rythm of cronic migraine?

You asked how dangote's wealth could jump that much in a short time. Well let me give you the lil education you have refused to give to yourself.

At a point in time, there was a situation in the cement market here in nigeria that made it possible for dangote to bring down his price far below that of his competitors so that his competitors began loosing customers. The option left for the competitors was to sell off their company which they did when a juicy offer came from dangote.

After acquiring his competitors, he immediately pushed cement prices to about 300-400percent of the original price of cement. He took over all limestone deposites in nigeria. Thats how his company grew so rapidly in that short time. Before he did all these take over, he was worth only 3bn dollar. And at the begining of last year, he was worth 13.4bn. The man is a genius! Thats the truth.

GBAM, lobatan

After he monopolized the industry for so long, i am not surprised he his the richest in Africa. However i am surprised he is not on top 5 in the world

GBAM lobatan

solbil: msauza the looser, what has your anti nigerian sentiment fetched you if not a circadian rythm of cronic migraine?

You asked how dangote's wealth could jump that much in a short time. Well let me give you the lil education you have refused to give to yourself.

At a point in time, there was a situation in the cement market here in nigeria that made it possible for dangote to bring down his price far below that of his competitors so that his competitors began loosing customers. The option left for the competitors was to sell off their company which they did when a juicy offer came from dangote.

After acquiring his competitors, he immediately pushed cement prices to about 300-400percent of the original price of cement. He took over all limestone deposites in nigeria. Thats how his company grew so rapidly in that short time. Before he did all these take over, he was worth only 3bn dollar. And at the begining of last year, he was worth 13.4bn. The man is a genius! Thats the truth.

Is that being a genius? increased price by 400% because he knows he controls the cement industry.No regulatory body in Nigeria. He can do what he likes

ehie: which money?Lazy man

This girl. You really need to kiss me. I haven't seen a reply of yours that I hate yet. I think we kinda think alike.

Wallie:

I really don't think you understand how Forbes or any other organization estimates people’s wealth! Saying someone is worth $12B does not mean that $12B is all they have nor does it mean that they have $12B in cash.

Wealth is estimated by what is publically owned by the person. It is really simple to estimate most of Dangote’s wealth.

For example, Dangote Cement is currently trading at 121.05 and has a market capitalization of 2063.11B. If you know Dangote’s personal equity in Dangote Cement, his net worth will be that percent of 2063.11B. In other words, if Dangote owns 90% of Dangote Cement, then he’s worth 90% of 2063.11B = 1857B. Simple.

It is possible that there’s someone richer than Dangote in Africa but that person’s wealth cannot be publically verified. Also, Dangote could own private companies and that source of income is not taken into account by Forbes.

. My

Msauza: . My dear friend, let me first start to introduce myself accordingly. I am a Nigerian/South African born of a SA mother and Nigerian father. I have two degrees in my name, being, BA (politics with economics and law) obtained from Potchefstroom University and was credited with my law modules by Wits University to study law further, wherein I successfully completed my LLB in 2010, after three years of academic study. My father is a prof in one of the most reputable universities in SA and he specialises in Economics and Public Administration and also holds MBA. I come from academic family and am well educated than you can ever imagine. I am currently serving my articles as an candidate attorney under a well experienced group of white attorneys. I find it very difficult that you undermined my intelligence by suggesting that I do not know how Forbes Mag works. Look at my comments above, where I highlighted something about Nicky Oppenheimer's assets. Forbes evaluates people by means of their assets, not a cash in their bank accounts. What a desperate underestimate of a person!!! Forbes is the subject of the west to fool us. I repeat, Dangote is not a richest man in Africa, this is a cooked propaganda the west devised after were confronted with many questions as to why whites SA always tops the list of Forbes Africa's richest. That was the loophole by the west of mistakenly giving concrete evidence to the world that Africa,s economy is in the hands of white monopoly capital. The issue of this magazine was suddenly suspended without further notice as it was polarising the society. If you want to know more come to me.

Lazy people always hate on tycoons. That's a fact. Let's be honest Dangote is a super-talented entrepreneur so he deserves his wealth.

ehie: Crab in the basket syndrome,
It describes a way of thinking best described by the phrase "if I can't have it, neither can you."

The metaphor refers to a pot of crabs. Individually, the crabs could easily escape from the pot, but instead, they grab at each other in a useless "king of the hill" competition which prevents any from escaping and ensures their collective demise.

So u want Dangote to sit on nairaland day and night and be complaining with u?

See ur life...-

The guys just analytically explained what he/she thinks is the reason behind it, but a fool like you just ignorantly wrote down something a fallacy with no meaning.

So non of our pastoprenures don ovatake dis malam?wel,its a mata of time sha

Mavrick2012: So non of our pastoprenures don ovatake dis malam?wel,its a mata of time sha

Msauza: . My dear friend, let me first start to introduce myself accordingly. I am a Nigerian/South African born of a SA mother and Nigerian father. I have two degrees in my name, being, BA (politics with economics and law) obtained from Potchefstroom University and was credited with my law modules by Wits University to study law further, wherein I successfully completed my LLB in 2010, after three years of academic study. My father is a prof in one of the most reputable universities in SA and he specialises in Economics and Public Administration and also holds MBA. I come from academic family and am well educated than you can ever imagine. I am currently serving my articles as an candidate attorney under a well experienced group of white attorneys. I find it very difficult that you undermined my intelligence by suggesting that I do not know how Forbes Mag works. Look at my comments above, where I highlighted something about Nicky Oppenheimer's assets. Forbes evaluates people by means of their assets, not a cash in their bank accounts. What a desperate underestimate of a person!!! Forbes is the subject of the west to fool us. I repeat, Dangote is not a richest man in Africa, this is a cooked propaganda the west devised after were confronted with many questions as to why whites SA always tops the list of Forbes Africa's richest. That was the loophole by the west of mistakenly giving concrete evidence to the world that Africa,s economy is in the hands of white monopoly capital. The issue of this magazine was suddenly suspended without further notice as it was polarising the society. If you want to know more come to me.

My dear friend, you seem to underestimate the caliber of people that post on Nairaland also! I have multiple degrees also and so do most of my family members. By the way, I also have a law degree (Juris Doctor) and currently do practice Patent Law in the US. (Use Google to determine what it takes to obtain a JD and practice patent law in the US).

I’m a little confused as to the significance of practicing under “white” attorneys. Are white attorneys the “gold” standard over there; kinda like going to Ivy League schools? I'll give you another chance to impress me!

I can see why your myopic twisted view of white superiority will make you think blacks can never be better than whites at any point in time! I wonder if critical reasoning was skipped as a critical element to your LLB education.

More than 50 reporters in 16 countries worked on compiling our 25th anniversary World’s Billionaires rankings. Throughout the year our reporters meet with the list candidates and their handlers and interview employees, rivals, attorneys and securities analysts. We keep track of their moves: the deals they negotiate, the land they’re selling, the paintings they’re buying, the causes they give to. To estimate billionaires’ net worths we value individuals’ assets, including stakes in public and private companies, real estate, yachts, art and cash–and account for debt.
Not that we pretend to know what is listed on everyone’s private balance sheet, though some folks do provide that information. We do attempt to vet these numbers with all billionaires. Some cooperate, others don’t.

We have not included fortunes dispersed across large families (as in those of the Du Ponts) when individual net worths are below our minimum of $1 billion per name. But we do include wealth belonging to a member’s immediate relatives if the wealth can ultimately be traced to one living individual; in that case “& family” indicates that the number shown includes money belonging to more than one person.

Our estimates of public fortunes are a snapshot of wealth on Feb. 14, 2012, when we locked in stock prices and exchange rates from around the globe. Some on our list will become richer or poorer within weeks–even days–of publication. Privately held companies are valued by coupling estimates of revenues or profits with prevailing price-to-revenues or price-to-earnings ratios for similar public companies.

http://www.forbes.com/sites/kerryadolan/2012/03/07/methodology-how-we-crunch-the-numbers/

Wallie:

My dear friend, you seem to underestimate the caliber of people that post on Nairaland also! I have multiple degrees also and so do most of my family members. By the way, I also have a law degree (Juris Doctor) and currently do practice Patent Law in the US.

lol Are you both competing?

adicious: all these for another person money shey?

no mind am. Very useless fellow.

Sky-walker:


lol Are you both competing?

Competing ke? The guy thinks he’s something special or some kind of an anomaly! I’m trying to get him to understand that throwing his education around to gain credence only works in SA or at the bar! How can he impress me with his education when I'm more educated and experienced than he his?

Msauza: . My dear friend, let me first start to introduce myself accordingly. I am a Nigerian/South African born of a SA mother and Nigerian father. I have two degrees in my name, being, BA (politics with economics and law) obtained from Potchefstroom University and was credited with my law modules by Wits University to study law further, wherein I successfully completed my LLB in 2010, after three years of academic study. My father is a prof in one of the most reputable universities in SA and he specialises in Economics and Public Administration and also holds MBA. I come from academic family and am well educated than you can ever imagine. I am currently serving my articles as an candidate attorney under a well experienced group of white attorneys. I find it very difficult that you undermined my intelligence by suggesting that I do not know how Forbes Mag works. Look at my comments above, where I highlighted something about Nicky Oppenheimer's assets. Forbes evaluates people by means of their assets, not a cash in their bank accounts. What a desperate underestimate of a person!!! Forbes is the subject of the west to fool us. I repeat, Dangote is not a richest man in Africa, this is a cooked propaganda the west devised after were confronted with many questions as to why whites SA always tops the list of Forbes Africa's richest. That was the loophole by the west of mistakenly giving concrete evidence to the world that Africa,s economy is in the hands of white monopoly capital. The issue of this magazine was suddenly suspended without further notice as it was polarising the society. If you want to know more come to me.

Bravo! Bravo!! Bravo!!! Let me remind you of who I am. I went to 12 Primary Schools in 10 States in Nigeria. Born of Garri selling mother and Soup cooking father. Which makes me a well-fed son of my parent. I went ahead to struggle in the streets of Lagos Nigeria. I can assure you that conspiracy theories precedes you. I want to enlighten you that there is no natural injunction that a black man can not be wealthier than the white folks. Forbes is not racist as you think. Just as number one man in the world today is a black man. Sometimes people confuse academic knowledge with common sense, oyibo calls it native intelligence. But let me chip in that common sense is not so common, and that wisdom is applied knowledge, so right now, you have acquired too much knowledge and you havent applied it at all. What does that make you ? A conspiracy theorist and an academic boy with no wisdom. Dangote remains Africa's Richest, Nigeria's Pride and my Hero. Take it or Hug the nearest transformer.

@ Willie, the ( B.Juris) is an outdated version of legal qualifications in South Africa, irrespective of what level, Masters or Doctorate you've achieved. With that kind of qualification, you might not be able to practice as a lawyer in South African judicial melieu. That qualification has long been phased out and is no longer offered, unless your are some dinosaur of the past generations. Presently, in SA the minimum requirements to practise as lawyer is to possession of an LLB, where you can chose to be groomed as an advocate or attorney.

@ Willie, the ( B.Juris) is an outdated version of legal qualifications in South Africa, irrespective of what level, Masters or Doctorate you've achieved. With that kind of qualification, you might not be able to practise as a lawyer in South African judicial melieu. That qualification has long been phased out and is no longer offered, unless your are some dinosaur of the past generations. Presently, in SA the minimum requirements to practise as lawyer is to possession of an LLB, where you can chose to be groomed as an advocate or attorney.

A beneficiary of d Nigerian system

@ Willie, the ( B.Juris) is an outdated version of legal qualifications in South Africa, irrespective of what level, Masters or Doctorate you've achieved. With that kind of qualification, you might not be able to practise as a lawyer in South African judicial mealieu. That qualification has long been phased out and is no longer offered, unless your are some dinosaur of the past generations. Presently, in SA the minimum requirements to practise as lawyer is to possession of an LLB, where you can chose to be groomed as an advocate or attorney.

Msauza: @ Willie, the ( B.Juris) is an outdated version of legal qualifications in South Africa, irrespective of what level, Masters or Doctorate you've achieved. With that kind of qualification, you might not be able to practise as a lawyer in South African judicial mealieu. That qualification has long been phased out and is no longer offered, unless your are some dinosaur of the past generations. Presently, in SA the minimum requirements to practise as lawyer is to possession of an LLB, where you can chose to be groomed as an advocate or attorney.

I think you have no idea what Juris Doctor (JD). In the US, to go to law school, you need to have a first degree.

Here's what's required in South Africa:

In South Africa,[7][8] the LL.B. is the universal legal qualification for admission and enrollment as an Advocate or Attorney; see split profession. Since 1998, LL.B. programmes may be entered directly at the undergraduate level, at the same time, the LL.B. continues to be offered postgraduate and may then be accelerated dependent on the bachelor's degree. The programme lasts between two and four years correspondingly [9] (compare Australia, above). See Bachelor of Laws: South Africa.

Although not formally required for practice, further training, e.g. in tax, is usually via specialised postgraduate diplomas or LL.M. programmes.[10] Research degrees are the LL.M. and LL.D., or PhD depending on university. The Master’s dissertation reflects an ability to conduct independent research, whereas the Doctoral thesis will, in addition, constitute an original contribution to the field of law in question.[11] A doctorate, generally, is required for positions in legal academia. See Master of Laws: South Africa; Doctor of law: South Africa.

Historically, the B.Proc. and B.Juris were the legal degrees offered at the undergraduate level.[12] The four-year BProc qualified one to practice as an attorney, or become a prosecutor or magistrate in the lower courts, but did not allow for admission as an advocate. The three-year B.Juris was the basic requirement for prosecutors and magistrates in the lower courts, but on its own, did not qualify one to practice as an attorney. Both offered admission to the LLB. [13]

For admission as an attorney, one serves "articles" as a candidate attorney with a practicing attorney for two years, and then writes a "board exam" set by the relevant provincial Law Society. See Attorneys in South Africa. The length of articles may be reduced by attending a practical legal training course or performing community service. Attorneys may additionally qualify as Notaries and Conveyancers, via the Conveyancing and Notarial Practice Examinations; [14] those with technical or scientific training may further qualify as patent attorneys – see Patent attorney: South Africa.
The requirements to enter private practice as advocates (Junior Counsel) are to become members of a Bar Association by undergoing a period of training (pupilage) for one year with a practicing Advocate, and to sit an admission examination. On the recommendation of the Bar Councils, an advocate "of proven experience and skill" with at least ten years experience, may be appointed by the President of South Africa as a Senior Counsel (SC; also referred to as a "silk".[15] See Advocate: Advocates in South Africa.
The Act regulating admission to practice law ("The Qualifications of Legal Practitioners Amendment Act of 1997" is being revised.[16]

Here's what's required in the US:

In the United States, law is a Doctoral degree, the pursuit of which students undertake only after having completed an undergraduate degree in some other field (usually a bachelor's degree). The law school program is considered to be a professional school program and upon graduation you receive the distinct title of Doctor. Though attorneys rarely if ever use the title 'doctor' even though they are entitled to by both degree and etiquette. The undergraduate degree can be in any field, though most American lawyers hold bachelor's degrees in the humanities and social sciences. American law schools are usually an autonomous entity within a larger university, though there are independent institutions.

In most cases, the degree awarded by American law schools is the Doctor of Jurisprudence or Juris Doctor (J.D.), degree. In contrast, the LL.B. degree is still the standard qualification in other common law jurisdictions, mostly in the Commonwealth of Nations. Research degrees that are awarded include the Master of Laws (LL.M.) and Doctor of Juridical Science degrees (J.S.D. or S.J.D.).

Once a student has graduated from law school, he or she is expected to pursue admission to the bar in order to practice. Requirements for membership in the bar vary across the United States. In almost every state, the only way to be admitted to the bar is to pass a (usually multi-day) written examination. Once admitted, most attorneys must meet certain Continuing Legal Education (CLE) requirements.

http://en.wikipedia.org/wiki/Legal_education_in_South_Africa#South_Africa

Msauza: . My dear friend, let me first start to introduce myself accordingly. I am a Nigerian/South African born of a SA mother and Nigerian father. I have two degrees in my name, being, BA (politics with economics and law) obtained from Potchefstroom University and was credited with my law modules by Wits University to study law further, wherein I successfully completed my LLB in 2010, after three years of academic study. My father is a prof in one of the most reputable universities in SA and he specialises in Economics and Public Administration and also holds MBA. I come from academic family and am well educated than you can ever imagine. I am currently serving my articles as an candidate attorney under a well experienced group of white attorneys. I find it very difficult that you undermined my intelligence by suggesting that I do not know how Forbes Mag works. Look at my comments above, where I highlighted something about Nicky Oppenheimer's assets. Forbes evaluates people by means of their assets, not a cash in their bank accounts. What a desperate underestimate of a person!!! Forbes is the subject of the west to fool us. I repeat, Dangote is not a richest man in Africa, this is a cooked propaganda the west devised after were confronted with many questions as to why whites SA always tops the list of Forbes Africa's richest. That was the loophole by the west of mistakenly giving concrete evidence to the world that Africa,s economy is in the hands of white monopoly capital. The issue of this magazine was suddenly suspended without further notice as it was polarising the society. If you want to know more come to me.

however, ur papa rich pass am?

pretty_boi: Lazy people always hate on tycoons. That's a fact. Let's be honest Dangote is a super-talented entrepreneur so he deserves his wealth.

kiss u back

That chairman still hold enough pepper










Who God has blessed no man can curse

Billyonaire:

Bravo! Bravo!! Bravo!!! Let me remind you of who I am. I went to 12 Primary Schools in 10 States in Nigeria. Born of Garri selling mother and Soup cooking father. Which makes me a well-fed son of my parent. I went ahead to struggle in the streets of Lagos Nigeria. I can assure you that conspiracy theories precedes you. I want to enlighten you that there is no natural injunction that a black man can not be wealthier than the white folks. Forbes is not racist as you think. Just as number one man in the world today is a black man. Sometimes people confuse academic knowledge with common sense, oyibo calls it native intelligence. But let me chip in that common sense is not so common, and that wisdom is applied knowledge, so right now, you have acquired too much knowledge and you havent applied it at all. What does that make you ? A conspiracy theorist and an academic boy with no wisdom. Dangote remains Africa's Richest, Nigeria's Pride and my Hero. Take it or Hug the nearest transformer.

. My dear, the truth hurts and it makes you to be completely ignorant, especially where western forces prevails. Many Nigerians know nothing about political education, were never even engaged about communism, radical and militant politics. You need the teachings of Che Guevara and Nkwame Nkruma, the great revolutionaries who engaged us about neo-colonialism. There is nothing about conspiracy theories in what I have just said and if you want the truth ask Aliko Dangote about how much is he worth. I am 100% certain that he would not agree with what Forbes had suggested. White monopoly capital rakes in billions of dollars year after year by owning huge stakes in ANGLO GOLD and ANGLO PLATINUM, yet they are not being rated by Forbes. Forbes in on a mission to protect wealth of white SA by pushing black faces or so to say people of colour to make it look like Africa,s economy is in the hands of blacks. I say it again DE BEERS is worth a net total of over $38B, yet is advertantly left out off its owners wealth. Why? Is it because we Africans believe whatever nonsense a white man says, simply because are inventors of Aeroplanes and cars. What we should ask is what criteria do they use to rate specifically Africans. How many Africans are part of a team that rates wealth of people of colour?

@ Willie, what difference does it make, D.Juris is equivalent to LLB. Americans like to over-rate their qualifications unnecessarily. Besides, I have studied with many American citizens and British students through an exchange student programme in Wits, who rather preferred to study law in SA, because they claimed South African trained lawyers are among the best lawyers in the world.

adicious: all these for another person money shey?

as in eh!! i taya for the matter!!

ka ching...the sound of dangote making a million naira as someone was quoting wiki and bragging about his archaic degrees