Michael Ehindero's Blog

Billionaire businessman, Dr. Cosmas Maduka , has strongly criticized the growing popularity of the slang “ money na water ”, which many use to justify reckless spending and the public display of wealth. Speaking at a public forum, the founder of Coscharis Group condemned the trend of spraying money at parties and flaunting riches, describing it as a “dead value system” that erodes societal morals and misguides the younger generation. “Show me any truly wealthy person who says ‘money na water.’ I’ve never heard Tony Elumelu say it, I’ve never heard Femi Otedola say it, and I’ve never said it myself,” Maduka stated. “When I attend an event and people start throwing money around, I quietly excuse myself. You won’t see me again because these are dangerous cultural habits we have adopted,” he added. Maduka emphasized that genuine wealth breeds humility, not noise. “When we were growing up, rich people didn’t show off. Those making noise today haven’t made real mone...

After steering FirstHoldCo , the parent company of Nigeria’s oldest bank, First Bank of Nigeria Limited to record-breaking profits, billionaire mogul and philanthropist Femi Otedola is set to cash in a $1.6 million dividend payout from his stake in the banking powerhouse. ____________________ • Femi Otedola is set to pocket a cool $1.6 million in dividends from his 11.8% stake in FirstHoldCo, Nigeria’s oldest banking group. • The financial giant declared a $15.7 million dividend following a record-breaking 2024 performance, raking in $663.7 million in revenue and $487.5 million in net profit. • Otedola also bagged an additional $11.2 million from Geregu Power, thanks to the energy company’s stellar 65% revenue surge and profit boom. _________________________ Otedola, who doubles as chairman of FirstHoldCo and Geregu Power Plc, holds a combined 11.8% stake in the Lagos-based financial group, cementing his position as one of Nigeria’s most influential business figures. Fir...

Elon Musk achieved yet another major milestone Wednesday, becoming the first ever person worth $500 billion. The richest person on the planet is now worth $500 billion, as of Wednesday, 1st October, Musk, who became the first person ever worth $400 billion or more in December, is $150 billion ahead of runner-up of Oracle's Larry Ellison and half-way to becoming the world’s first trillionaire. Shares of Tesla climbed by nearly 4% Wednesday, adding an estimated $9.3 billion to Musk’s fortune, as investors continue to celebrate the prospect of a refocused Musk. The EV maker’s stock price has nearly doubled since Musk first announced on the company’s April earnings call that he would be stepping back from his role as head of President Trump’s Department of Government Efficiency (DOGE) to spend more time on Tesla.  With Tesla’s market cap back within 10% of the all-time high it hit in December, Musk’s 12% stake in the company is now worth $191 billion....