jorju:
Is if for dangote or otedola.... The yatch
That is at the back of westwood hotel at
Ikoyi....

Any boat that is passingby must slow down
When they get to the yatch area and after
Passing the yatch they speed up again

It used to park at Walter Carrington street Victoria island. Otedola owned it a d christened it Nana

MrBrownJay1:
ARRANT NONSENSE OF THE HIGHEST ORDER!!!!

as much as this man is a billionaire, that boat (wont dare call it a yacht) is not even worth $10M.... blogger stop writing RUBBISH online!!

but hey, dont take my word for it, GOOGLE is your damn friend..... that boat is a SUNSEEKER PREDATOR 108, check the price yourselves...

erm...we know, but the price reach billion ba?

That sh!t is a yacht.
Just say it isn't a super/megayacht.

marvin906:



I disagree..
the king and prince of suadi Arabia have more money than dangote..
small thing I would have said the entire suadi royal family.
I am correct their net a trillion plus

I select who I argue with on Nairaland but let me humour you.

Forbes is the authority on wealth ranking in the world and he is how their billionaires fared in the 2019 ranking.

Dangote is 100 gradually. Only one Arab ranks higher than him.

my mentor.

Non of them were putting on a life jacket...Does it mean they are have not heard of emergency preparedness?
Abi d Yacht or boat no dey on top mamiwater arena?....

MrBrownJay1:
ARRANT NONSENSE OF THE HIGHEST ORDER!!!!

as much as this man is a billionaire, that boat (wont dare call it a yacht) is not even worth $10M.... blogger stop writing RUBBISH online!!

but hey, dont take my word for it, GOOGLE is your damn friend..... that boat is a SUNSEEKER PREDATOR 108, check the price yourselves...

gbayi.....you sabi the gizzard.

He won't even have the time to use it.

delugajackson:
Quite befitting for his status. And yet he doesn't make noise with it.

But some people will buy ordinary Camry and will be disturbing the whole neighbourhood with it.

Praise God for any little thing he has done so he can do more

Hedonini:


Thats my point. More about his personality than any so-called investments. Dangote no sabi chop money. Even ordinary Kola Aluko has a real yacht, one that is far more luxurious and far more expensive than this Dangote's boat (Otedola owns the same boat, by the way.).

Or there are two other compelling reasons.

The first is uncomfortable but plausible. Dangote is not that liquid. A yacht is not like buying a hourse, jewelry, hyper cars, or art. It's a money pit. Sure a $250m yacht would be befitting of his status, but he'd be looking at no less than $25m in running cost annually. Most of his wealth is tied to the valuation of his shares in Dangote Cement. The actual money he makes annually is two orders of magnitude less.

Kola Aluko may not own the Galactica Star alone. Dude is a front for black money.

The second reason has to do with being smart. As a Nigerian billionaire, it's not in his best interests to be ostentatious. So what, he's going to moor a 200ft yacht off a marina in a country that continues to outdo itself on negative metrics? It's bad optics, will build resentment, and he'd spend more time justifying his wealth and choice of opulence display than enjoying it.

It's similar for American billionaires. With wages staying relatively static while inflation and inequality rise exponentially, the last thing Bezos or Larry would want to do is buy a 400ft yacht. It'd just feed the recent calls for 70% marginal tax on the wealthy. That's why most Western billionaires buy multiple mid-size yachts rather than go on a pissing contest with the Arab Sheikhs and Russian Oligarchs.

The latter have more control, largely draconian, over their perception in their local population. The former needs to suck up to the populace to preserve their wealth. That's what's up with all the philanthropy.

The Rotschilds learned this lesson the hard way.

-Lord

Abeg which network baba God dey use i wan call im

Abeg which network baba God dey use i wan call im. its tym for me 2 get dis money

LordAdam16:


Or there are two other compelling reasons.

The first is uncomfortable but plausible. Dangote is not that liquid. A yacht is not like buying a hourse, jewelry, hyper cars, or art. It's a money pit. Sure a $250m yacht would be befitting of his status, but he'd be looking at no less than $25m in running cost annually. Most of his wealth is tied to the valuation of his shares in Dangote Cement. The actual money he makes annually is two orders of magnitude less.

Kola Aluko may not own the Galactica Star alone. Dude is a front for black money.

The second reason has to do with being smart. As a Nigerian billionaire, it's not in his best interests to be ostentatious. So what, he's going to moor a 200ft yacht off a marina in a country that continues to outdo itself on negative metrics? It's bad optics, will build resentment, and he'd spend more time justifying his wealth and choice of opulence display than enjoying it.

It's similar for American billionaires. With wages staying relatively static while inflation and inequality rise exponentially, the last thing Bezos or Larry would want to do is buy a 400ft yacht. It'd just feed the recent calls for 70% marginal tax on the wealthy. That's why most Western billionaires buy multiple mid-size yachts rather than go on a pissing contest with the Arab Sheikhs and Russian Oligarchs.

The latter have more control, largely draconian, over their perception in their local population. The former needs to suck up to the populace to preserve their wealth. That's what's up with all the philanthropy.

The Rotschilds learned this lesson the hard way.

-Lord

Dangote actually makes lots of liquid cash.

The after tax profit of Dangote Cement in 2013 if I'm correct was 124.4 billion.. This was at a time the Naira exchanged at 155 to $1. That's about $800m and he owns at teast 85% of the company.

I just checked after tax profits for last year and it was N390b, which is over a $1bn. The man is quite liquid but like every good business, will prefer to invest his money than keep it lying idle.

One year, he chose to buy for himself a $45m Gulfstream for his birthday.

Yes, he's not stupid with his money and humble not to be in a show off competition with anyone.

No money miss road for this guy o!

delugajackson:
Quite befitting for his status. And yet he doesn't make noise with it.

But some people will buy ordinary Camry and will be disturbing the whole neighbourhood with it.

The ocean flows with majestic silence unlike the water that flows from the gutters.

He's a billionaire and so what? It is only in Nigeria that the government can pick and choose the winners and losers. If any person with business acumen is allowed to monopolize the importation of important staple food and very vital goods in a country as populous as Nigeria, the person would become a billionaire as well. Not to hate on Mr. Dangote but please when we talk about him, let's put him in a proper context.

Jarus:


I select who I argue with on Nairaland but let me humour you.

Forbes is the authority on wealth ranking in the world and he is how their billionaires fared in the 2019 ranking.

Dangote is 100 gradually. Only one Arab ranks higher than him.

White money maybe. Black money, no chance in hell.

The top ranking Sheikhs of the wealthy Arab kingdoms (mainly Saudi Arabia, UAE, Qatar, and Kuwait) have criminally understated wealth and they're illogically liquid.

Dangote can't buy the things Bin Salman has purchased over the last couple of years. From the $450m painting to the $500m yacht. Dangote would have to divest his holdings and lose voting rights to make the same purchases that bin Salman made on a whim.

Moreover, the Sheikhs understate their wealth to maintain a tight leash on public opinion in their kingdoms. Only one Arab blue blood Bin Talal usually makes a fuss over his valuation and Bin Salman used him as a scapegoat during the fake anti-corruption crackdown.

-Lord

delugajackson:
Quite befitting for his status. And yet he doesn't make noise with it.

But some people will buy ordinary Camry and will be disturbing the whole neighbourhood with it.

Lol@ disturbing the neighborhood.

krattoss:
I don't wanna say nothing wrong,but it I'll be wrong if aint said nothing

And you end up not saying nothing is wrong because you think it is wrong saying nothing because something is wrong ?

Op, do you know the real value of 15 billion naira?

flokii:
Good for him.. but I'm more concerned about the 80 million + Nigerians out there with no job or means of livelihood.

#StandupNigeria

If i may ask,
how many times have you left #10 change for a pure water seller ?

MrBrownJay1:
ARRANT NONSENSE OF THE HIGHEST ORDER!!!!

as much as this man is a billionaire, that boat (wont dare call it a yacht) is not even worth $10M.... blogger stop writing RUBBISH online!!

but hey, dont take my word for it, GOOGLE is your damn friend..... that boat is a SUNSEEKER PREDATOR 108, check the price yourselves...

U think a yatch is 1 million

Latidoh1:
I will be wealthier than Dangote.

In your dream

That’s Otedola’s yatch. He named it after his wife Nana

grandstar:


Dangote actually makes lots of liquid cash.

The after tax profit of Dangote Cement in 2013 if I'm correct was 124.4 billion.. This was at a time the Naira exchanged at 155 to $1. That's about $800m and he owns 50% of it.

I just checked after tax profits for last year and it was N390b, which is over a $1bn. The man is quite liquid but like every good business, will prefer to invest his money than keep it lying idle.

One year, he chose to buy for himself a $45m Gulfstream for his birthday.

Yes, he's not stupid with his money and humble not to be in a show off competition with anyone.

No money miss road for this guy o!

He actually owns 85.2% of Dangote Cement. And no, that does not mean he owns 85.2% of the after-tax profit. It's not a simple arithmetic.

And the Gulfstream was primarily for business, not a treat. It was an essential purchase.

-Lord

Why not this blogger ad more two zeros to the price so that it will be $4.3 billion (#1.55 trillion naira), nonsense

LordAdam16:


White money maybe. Black money, no chance in hell.

The top ranking Sheikhs of the wealthy Arab kingdoms (mainly Saudi Arabia, UAE, Qatar, and Kuwait) have criminally understated wealth and they're illogically liquid.

Dangote can't buy the things Bin Salman has purchased over the last couple of years. From the $450m painting to the $500m yacht. Dangote would have to divest his holdings and lose voting rights to make the same purchases that bin Salman made on a whim.

Moreover, the Sheikhs understate their wealth to maintain a tight leash on public opinion in their kingdoms. Only one Arab blue blood Bin Talal usually makes a fuss over his valuation and Bin Salman used him as a scapegoat during the fake anti-corruption crackdown.

-Lord

It's a joke to mention Bin Salman and Dangote in the same sentence when you're talking liquid wealth.

I'm sure there are up to 10 members of House of Saud alone, who are more liquid than Dangote. If we're talking about the entire Arab World, then make that at least a 100.

Jarus:


Doesn't stop the fact that if he were an Arab, he would still be the 2nd richest Arab living.

Only 1 Arab is richer than Dangote.

Say what you know. The owner of bein sports is Richer than Dangote.
There are Arabs who are flexing on code due to their religion and class but the accessories that comes with their low key flexing will build estates and factories in Nigeria.

grandstar:


Worse, someone living on the mainland in one upper middle class estate will not let us rest. Posting pictures of the latest car he bought. I even thought he was living with Yuzedo in Banana Iceland. Nonsense

Mehn, do you know where that guy is? I miss his Nairaland posts.

That's Otedola Yatch

Bloggers, please do your homework next time. This is Otedola's Yatch for as long as I can remember, unless he sold it to Dangote of recent.

Jarus:


Doesn't stop the fact that if he were an Arab, he would still be the 2nd richest Arab living.

Only 1 Arab is richer than Dangote.

That's officially. I still feel that some Saudi guys might be richer than him. Not sure though.

MrBrownJay1:
ARRANT NONSENSE OF THE HIGHEST ORDER!!!!

as much as this man is a billionaire, that boat (wont dare call it a yacht) is not even worth $10M.... blogger stop writing RUBBISH online!!

but hey, dont take my word for it, GOOGLE is your damn friend..... that boat is a SUNSEEKER PREDATOR 108, check the price yourselves...

Quite ryt on dis
I gat no beef with how the man spends his money o. But surprisingly the blogger gave an over bloated price Except He wants to claim the balance was used to refurbish the craft. But it's actually less than 5million dollars online (source -Yatchworld.com)