Seriously, who gets out of a negative net worth of a billion dollars, how long do you need to pay that back? How big of a fuel subsidy scam do you need to pull? I know Donald Trump did it, but who else has his leverage?
Forbes valued Femi Otedola's net worth at around $1.2 billion, so since he owes the same amount, technically he is a broke guy with many mansions, and a fleet of sport cars and yachts. Some leverage huh?
Right now I know what you are thinking, "since Femi Otedola is worth as much as he owes and technically that's $0, technically you are in the same net worth?" I know that would make you feel good about yourself, anyways you are wrong! Sorry, keep following, let me show (teach) you how the trick works. Also his $1.2B is from Forbes listing in 2009 which is a while back.
Leverage, connects and building a brand is what makes you wealthy, not the crap some hack wrote on Nairaland the other day here http://www.nairaland.com/1054816/5-proven-tips-multi-millionaire-nigeria/5#12288333 and like 65 of you guys clicked the "like" button on it.
How did Donald Trump get out of his debt? Simple, he leveraged the brand he has built over the years. How did he build the brand? Before you start making up stories about God father-ism and American greed, the environment in co-operate America is different from what we call "business" in Nigeria. We don't really care about branding or building value into our name or business name, all we care about is cashing out anytime we want. But this is exactly what got Donald Trump out of more than $10 billion in debt and got out of the red even bigger than ever. His passion which helps make him a business symbol and why people feel comfortable investing in him and pay tens of millions of dollars for apartments at Trump Towers.
So can Mr. Femi also get out of debt without getting "FIRED?!" I really don't think he has enough leverage to do that but my bet is he will continue to work with people in GOVERNMENT towards forgetting (forgiving) that debt that he no longer owes the banks but the GOVERNMENT's bail-out body ;) AMCON which swallowed the debts from the banks.
Forbes valued Femi Otedola's net worth at around $1.2 billion, so since he owes the same amount, technically he is a broke guy with many mansions, and a fleet of sport cars and yachts. Some leverage huh?
Right now I know what you are thinking, "since Femi Otedola is worth as much as he owes and technically that's $0, technically you are in the same net worth?" I know that would make you feel good about yourself, anyways you are wrong! Sorry, keep following, let me show (teach) you how the trick works. Also his $1.2B is from Forbes listing in 2009 which is a while back.
Leverage, connects and building a brand is what makes you wealthy, not the crap some hack wrote on Nairaland the other day here http://www.nairaland.com/1054816/5-proven-tips-multi-millionaire-nigeria/5#12288333 and like 65 of you guys clicked the "like" button on it.
How did Donald Trump get out of his debt? Simple, he leveraged the brand he has built over the years. How did he build the brand? Before you start making up stories about God father-ism and American greed, the environment in co-operate America is different from what we call "business" in Nigeria. We don't really care about branding or building value into our name or business name, all we care about is cashing out anytime we want. But this is exactly what got Donald Trump out of more than $10 billion in debt and got out of the red even bigger than ever. His passion which helps make him a business symbol and why people feel comfortable investing in him and pay tens of millions of dollars for apartments at Trump Towers.
So can Mr. Femi also get out of debt without getting "FIRED?!" I really don't think he has enough leverage to do that but my bet is he will continue to work with people in GOVERNMENT towards forgetting (forgiving) that debt that he no longer owes the banks but the GOVERNMENT's bail-out body ;) AMCON which swallowed the debts from the banks.
