‘7 private jets, 92 G-wagons’ — What Otedola could have done with historic donation to IDPs

by Mayowa Tijani



A few days after his 57th birthday, Femi Otedola, Nigerian multibillionaire and businessman, made history by donating N5 billion for the care of children facing extreme challenges as a result of Boko Haram insurgency in the northeast.

According to Vice-President Yemi Osinbajo, this is the largest donation to charity by a single individual in the nation’s history.

The donation was made to Save the Children, the 100-year United Kingdom-based charity, to support its intervention in about 16 states of the federation where the Charity organisation operates in Nigeria, reaching over 23 million children across the country.

Without running a foundation, Otedola is making a strong statement as one of the country’s biggest donors to worthy causes.

His second-biggest donation is his commitment to building and donating a faculty of engineering valued at N2 billion to the Augustine University in his hometown, Epe, Lagos state.

TheCable takes a look at what Otedola could have done with his N5 billion donation — if he was following in the footsteps of an average billionaire.



A LIFETIME OF CHAMPAGNE
How many bottles of Hennessy do you need to buy in a lifetime? 250,000? At one Hennessy per day, Otedola could have used the same money to by at least 684 years of champagne. 684 years is how many lifetimes?

While donating $50,000 to former Super Eagles Coach, Christian Chukwu, Otedola said: “In my circle of friends, many people spend up to N50 million to drink champagne and generally ‘enjoy’ life, but at the end of it all what happens? It passes out of their body as waste. For me therefore (and I also tell my friends) it is important to use such money to benefit others and put a smile on the faces of as many people as we can.”





If Otedola was to follow his friends, he would still need to host at least 100 lavish parties to spend N5billion on champagne. Therefore, this donation can also be seen as forfeiting 100 lavish parties.


7 VINTAGE YACHTS

According to Boat Internationational, it cost about N255,000,000 to buy a 1976 Ocean Romance Yacht off its vintage collection. With N5 billion, Otedola could have easily bought about 19 of these yachts. But most vintage yachts do not come in as many pairs. So most billionaires have to diversify their collections by buying different brands.

With N5 billion, the Nigerian businessman can buy at least seven of some of the finest yachts in the collection.


92 MERCEDES G-WAGON (2019 EDITION)

The 2019 Mercedes G-Class is the rave in town by some of the richest in Nigeria. It cost between $125,000 to $150,000. With N5 billion at your disposal, you can buy 92 units of this luxury vehicle, and perhaps have some change — depending on the model you settle for.

Think of this as a luxurious car business in a Benz-crazed Nigeria, but Otedola will decide that it was better to use these billions for the struggling in society, than serve to the orders of his class of rich businessmen in Nigeria.


7 PRIVATE JETS AND OTHER LUXURIES

In 2017, a famous bank chairman in Nigeria quit his active role in the bank to start a private jet business, which he considered his next challenge. Despite the initial clampdown under President Muhammadu Buhari on some of these luxury items, the business is expected to boast of a good number of jets and so heavy cash flow.

To attempt this business with N5 billion is also a possible way for Otedola to spend his money. Brand new Cirrus Vision Jet costs about N723 million. With N5 billion, Otedola could easily buy seven of these jets.

As a businessman in real estate, the former Forte Oil chairman could easily buy luxury apartments in any part of world, including one of the world’s most expensive cities, New York.

The same money could also buy 39 units of 2019 Rolls Royce, regarded as some of the most expensive luxury cars in the world today. It would be easy to become friends with Elon Musk, the billionaire Tesla CEO, by simply buying 395 units of fully electric 2019 Tesla Model 3, which costs a little over N12 million per unit.

Philanthropy makes up two percent of the United States gross democratic product (GDP). According to Bill Gates, this covers for what the government cannot do, and what the private sector is also not doing. He says philanthropy is important to the US economy.

For Nigeria, it remains unknown, how much of the GDP is made up of charitable donations, but with the likes of Otedola in the space, the numbers are definitely growing, and may soon be well-studied and measured in GDP reports.

https://www.thecable.ng/7-private-jets-92-g-wagons-what-otedola-could-have-done-with-historic-donation-to-idps

the one that doesnt.make sense to me is the Hennessy cognac

VIDEO FROM THE LAUNCHING



https://www.youtube.com/watch?v=cJhfVFcEjJk

nice analysis

An altruistic gesture from a kind hearted man fast being turned into an object of politics and hate. No thanks to pathetic idiots like Reno.

Otedola who made the donation hasn't complained about anything, neither has he commissioned anyone to speak on his behalf with respect to it.

I honestly don't get it.

What exactly has Reno or his boss Atiku done per philanthropy for anyone given what they have at their disposal? Since we are now drawing comparisons, I think we ought to know, especially given the fact he took the first shot.

Story, story, story

eTECTIV:


How exactly is dis post related to Reno or Atiku?? Someone jus gave a breakdown on some of d luxuries dat money could buy.. Get ur head off ur ass

Why then did Reno bring in the Indimis?

God please bless Me I will help the poors

Please the Cirrus Vision SF50 is a very light jet and not your standard private jet ..let's be guided with attempts to skew reality in a bid to drive propaganda..

Otedola cutting down is tax burden and Nigerians hailing . Many Nigerians are too ignorant about the working corporate tax reduction schemes ..

NICE

If I hear say Ote drop 5billion

All na PR

Sai baba sai baba... Not even the nothern elites helping their own.. But, the westerners they so despise are the ones coming to their aid. God bless u Ote$

The Màn with Golden Heart
God Bless you Sir

If you take Islam and the north out Nigeria will be heaven

Audio Donation

And some northerners are still saying the money is not enough for feeding alone

Who send them to give birth like rabbits

Ungrateful mofos

Imagine.

Shaking my head for the donkeys up there who have decided to turn this thread into their stupid political battle zone.

All their yeye political fights wey never yield any benefits for them and Nigeria.

5billion and his village members dey suffer of hunger meanwhile those northern rich elites no fit donate one quarter rather embezzle this 5billion

5 billion for her daughter na scope jare...

What a Man,not like the Indimis and other multibillionaires their only achievement is extravagant life styles. Otedola may the good Lord continue to enrich you. Otedola for President, not like one greedy man that pockets Lagos in his bag and acquire many properties in dubious means.yet trying to come out for Presidency 2023.

falcon01:
the one that doesnt.make sense to me is the Hennessy cognac

e go make sense to them hushpuppy wey dey use am bath for club

See una life?
Why helping him to spend his money audio-logically ??

person wey done chop like N2 trillion inside naija money

wetin be N5 billion to am