News
Jeff Bezos Becomes Richest Man in History with $211Bn

Jeff Bezos, founder of Amazon continues to become wealthier and it was yesterday reported that the 57-year-old mogul, who founded the online retailer out of his garage 27 years ago this month, became the richest man in history when his net worth rose $8.4 billion to reach a record-breaking $211 billion.

Jeff Bezos
This is according to the Bloomberg Billionaire’s Index.
This comes after his worth rose to a staggering $211billion as the share price of his e-commerce company rocketed by four percent.
The businessman’s net worth soared by more than $8.4billion on Tuesday, according to Bloomberg’s Billionaires Index.
Amazon stocks soared by 4.7 percent on Tuesday, according to reports.
Bezos’ net worth now stands at $211billion and Amazon’s share price has increased by 15 percent since the start of the year.
The e-commerce pioneer, has shattered records for wealth since the Index started ranking billionaires’ net worth in 2012.
Elon Musk, founder, Tesla is second on the list with a net worth of $181bn while tech mogul Bill Gates is currently ranked fourth.
Facebook’s Mark Zuckerberg has an estimated net worth of $131bn.
Bezos’ success comes as the Pentagon canceled a disputing cloud-computing contract with Microsoft that could have been worth $10billion.
Microsoft won the contract under former president Donald Trump but Amazon went to court alleging that the process was flawed and “improperly influenced by politics”, the AP reports.
The JEDI project was designed to store vast amounts of classified data – allowing US military officials to improve communications with soldiers on the battlefield, as well as using artificial intelligence to speed up its war planning.
It is being reported that the Pentagon will pursue potential deals with both Amazon and Microsoft.
On July 5, Bezos stepped down from his role as Amazon CEO, handing over the reins to Andy Jassy.
Bezos previously ran Amazon’s cloud-computing business.
Earlier this year, Bezos said he planned to focus on new products and early initiatives being developed at Amazon.
He said he would have more time for side projects, including his space exploration company Blue Origin, his philanthropic initiatives, and overseeing The Washington Post, which he bought.
Bezos, who is the company’s biggest shareholder, will still have broad influence over the e-commerce giant.
The businessman received a salary of $81,840 and $1.6million in other compensation from the company last year.
Despite the economic crash brought on by the coronavirus pandemic, Bezos’ wealth ballooned over the last 12 months with shuttered shops driving Amazon sales skyward.
That came even as he handed over a quarter of his Amazon stock to his ex-wife MacKenzie Scott as part of their divorce.
Bezos is said to be more than twice as wealthy as the entire British monarchy – which was estimated to be worth $88billion in 2017 – and his fortune exceeds some nation’s gross domestic product.
It’s reported that he makes more money every second than the average US worker makes in a week, according to Business Insider.
News
SEC Probes Ponzi Scheme Linked to FF Tiffany

The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
News
US Launches ‘Window on America’ @ Ogun Tech Hub

The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.
The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.
In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.
“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.
The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.
The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.
Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.
He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.
The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”
With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.
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