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Dangote, Adenuga, Rabiu, Otedola Make Forbes’ 2024 Billionaires List

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Despite the economic challenges facing Nigeria, Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024.

Dangote’s fortune rose to $13.4 billion, Adenuga’s fortunes stood at $6.7 billion, while Rabiu and Otedola achieved a fortune of $5.2 billion and $1.4 billion in 2024, respectively.

Aliko Dangote is the richest man in Africa and the richest Black man in the world. He has an estimated networth of around $13.4 billion in 2024.

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His business empire, Dangote Group, is one of the largest private-sector employers in Nigeria. Also, it is the most valuable conglomerate in West Africa.

READ ALSO: Forbes Declares Singer Taylor Swift Billionaire

According to Forbes, it has been a year for the planet’s billionaires, whose fortunes continue to swell as global stock markets shrug off war, political unrest and lingering inflation.

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Forbes said: “As with the economy in general, the money is concentrated at the very top.

“There are now a record 14 people who are members of the $100 billion Club, the elite group of people whose fortunes stretch into 12 digits.

“That is up from just one four years ago. These lucky few are worth $2 trillion in all, meaning just 0.5 per cent of the world’s 2,781 billionaires hold 14 per cent of all billionaire wealth.

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“There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021. They are richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021.”

READ ALSO: Full List: Forbes 2024 Top 20 African Billionaires

It added that two-thirds of the list’s members are worth more than a year ago; only one fourth are poorer.

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But region…

Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7 trillion.

“China remains second, with 473 (including Hong Kong) worth $1.7 trillion. This is despite weak consumer spending and a real estate bust that helped wipe out $200 billion in wealth and knocked 89 billionaires from the ranks.

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“India, which has 200 billionaires (also a record), ranks third.

“To calculate net worths, we used stock prices and exchange rates from March 8, 2024,” it added.

READ ALSO,: Ronaldo Tops Forbes’ Highest-paid Athletes

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The report said that “the richest of all is Bernard Arnault, who holds the number one spot for the second year in a row.

“The French luxury goods kingpin is worth an estimated $233 billion, $22 billion more than in 2023, thanks to another record year for his conglomerate LVMH. It is the company behind brands such as Louis Vuitton, Tiffany & Co. and Sephora.”

It added that “two-thirds of the planet’s billionaires are richer than a year ago.

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“No one has gained more, in sheer dollar terms, than Mark Zuckerberg, who has benefited to the tune of a $116.2 billion jump in a single year. This is thanks to Meta stock nearly tripling amid cost-cutting layoffs and big bets on AI and the metaverse.

“Zuckerberg is number four on Forbes’ 2024 ranking, worth an estimated $177 billion, the richest he’s ever been. Oracle’s Larry Ellison, worth an estimated $141 billion, rounds out the top five.”

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Afghanistan-Pakistan Border Clashes Escalate After Alleged Air Strikes

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Afghanistan’s Taliban forces launched armed reprisals against Pakistani soldiers along the shared border on Saturday, accusing Islamabad of carrying out air strikes on its soil, senior officials from several provinces said Saturday.

On Thursday, two explosions were heard in the Afghan capital and another in the southeast of the country. The following day, the Taliban-run defence ministry blamed the attacks on Pakistan, accusing its neighbor of violating its sovereignty.

In retaliation for air strikes carried out by the Pakistani army on Kabul,” Taliban forces are engaged “in heavy clashes against Pakistani security forces in various areas” along the border, the Afghan military said in a statement.

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Islamabad did not confirm that it was behind Thursday’s attacks, but called on Kabul “to stop harbouring the Pakistani Taliban (TTP) on its soil.”

READ ALSO:Taliban Attacks Kill 23 In Northwestern Pakistan

The TTP, trained in combat in Afghanistan and claiming to share the same ideology as the Afghan Taliban, is accused by Islamabad of having killed hundreds of its soldiers since 2021.

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Taliban officials from Kunar, Nangarhar, Paktia, Khost, and Helmand provinces — all located on the border between Pakistan and Afghanistan — confirmed that clashes were ongoing.

“This evening, Taliban forces began using weapons. We fired first light and then heavy artillery at four points along the border,” a senior official in Pakistan’s Khyber-Pakhtunkhwa province, bordering Afghanistan, told AFP.

Pakistani forces responded with heavy fire and shot down three Afghan quadcopters suspected of carrying explosives. Intense fighting continues, but so far, no casualties have been reported,” he continued.

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READ ALSO:US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

– Uptick in violence –

In recent months, TTP militants have intensified their campaign of violence against Pakistani security forces in the mountainous areas bordering Afghanistan.

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Islamabad accuses Afghanistan of failing to expel militants who use Afghan territory to launch attacks on Pakistan, an accusation denied by authorities in Kabul.

The TTP and its affiliates are behind most of the violence — largely directed at security forces.

READ ALSO:Afghanistan’s Taliban Release US Citizen

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Earlier this year, a UN report said the TTP “receive substantial logistical and operational support from the de facto authorities”, referring to the Taliban government in Kabul.

Pakistani Defence Minister Khawaja Muhammad Asif told parliament on Thursday that several efforts to convince the Afghan Taliban to stop backing the TTP had failed.

“We will not tolerate this any longer,” Asif said. “United, we must respond to those facilitating them, whether the hideouts are on our soil or Afghan soil.”

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Earlier Saturday, the TTP claimed responsibility for deadly attacks in several districts in northwest Pakistan that killed 20 security officials and three civilians.

AFP

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Taliban Attacks Kill 23 In Northwestern Pakistan

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The Pakistani Taliban on Saturday claimed responsibility for deadly attacks in several northwestern districts that killed 20 security officials and three civilians.

The attacks, which included a suicide bombing on a police training school, were carried out on Friday in several districts of Khyber Pakhtunkhwa province that borders Afghanistan.

Militancy has surged in Khyber Pakhtunkhwa since the withdrawal of US-led troops from neighbouring Afghanistan in 2021 and the return of the Taliban government in Kabul.

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READ ALSO:Taliban Court Publicly Flogs Woman For Illicit Relationship, Running Away From Home

Eleven paramilitary troops were killed in the border Khyber district, while seven policemen were killed after a suicide bomber rammed an explosives-laden car into the gate of a police training school, which was followed by a gun attack.

Five people, including three civilians, were killed in a separate clash in Bajaur district, security officials told AFP on Saturday.

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The Pakistani Taliban, the Tehreek-e-Taliban (TTP), claimed responsibility for the attacks in messages on social media. The group is separate from but closely linked with the Afghan Taliban.

The attacks came hours after Afghanistan’s Taliban government accused Pakistan of “violating Kabul’s sovereign territory”, a day after two explosions were heard in the capital.

READ ALSO:Taliban Order Closure Of Beauty, Hair Salons In Afghanistan

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Pakistan did not say if it was behind the blasts in Kabul, but said it had the right to defend itself against surging border militancy.

Islamabad accuses Afghanistan of failing to expel militants using Afghan territory to launch attacks on Pakistan, an accusation that authorities in Kabul deny.

The TTP and its affiliates are behind most of the violence — largely directed at security forces.

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Including Friday’s attacks, at least 32 Pakistani troops and three civilians have been killed this week alone in the border regions.

AFP

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US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

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The United States on Friday threatened to impose sanctions and take other punitive action against any country that votes in favor of a carbon tax on maritime transportation to be implemented through a UN agency.

We will fight hard to protect our economic interests by imposing costs on countries if they support” the Net Zero Framework, said a joint statement by US Secretary of State Marco Rubio and his counterparts at the departments of energy and transportation.

Members of the London-based International Maritime Organization (IMO) are set to vote next week on the adoption of the Net Zero Framework (NZF) agreement aimed at reducing global carbon emissions from the shipping sector.

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READ ALSO:Woman Wanted Over Mutilation Of Boyfriend’s Genitals In US

Washington, however, described the proposal as imposing “a global carbon tax on the world.”

Since returning to power in January, US President Donald Trump has reversed Washington’s course on climate change, denouncing it as a “scam” and encouraging fossil fuel use by deregulation.

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In the statement, Rubio, Energy Secretary Chris Wright and Transportation Secretary Sean Duffy said the Trump administration “unequivocally rejects” the NZF proposal.

READ ALSO:US To Execute Man Convicted Of Rape, Murder Of Teen

They threatened a range of punishing actions against countries that vote in favor of the framework, including: visa restrictions; blocking vessels registered in those countries from US ports; imposing commercial penalties; and considering sanctions on officials.

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The United States will be moving to levy these remedies against nations that sponsor this European-led neocolonial export of global climate regulations,” the statement said.

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