Flashback:Forbes Billionaires 2015: Which Billionaires Lost The Most Money.

Aliko Dangote
JONATHAN’S REIGN MAY SOON END: He faces a surprisingly strong challenger in this month’s presidential election, and Boko Haram’s unchecked bloodshed is at least partly to blame. The insurgents have killed an estimated 20,000 people, displaced more than a million and now control some 20,000 square miles within Nigeria. Jonathan’s opponent–a retired army general–is seen by his supporters as the best man to finally defeat the terrorists.

For Dangote, the upheaval has meant lower demand for his cement (“There are places in the north where no one is thinking of building a home,” one Dangote executive says), and he cut cement prices twice last year, most recently by 14% in November. But whether it’s Jonathan or someone else ruling Nigeria, observers find it difficult to believe that anyone would shut him out of the presidential palace. He’s simply too important to the economy.
A position that’s ever growing. Oil now represents another big play for him, and he’s busy building a refinery some 40 minutes by car outside central Lagos. Dangote explains with uncharacteristic glee that the recent drop in prices will actually make construction easier. His suppliers will be desperate … and easy pickings. “We will be the only ones around,” he says. “We will carry a big knife and cut them on prices.”
The refinery, Dangote says, can be profitable even at $50 to $70 a barrel. Raw crude for the refinery will come from multiple suppliers. If all goes according to plan, it’ll produce 650,000 barrels a day–a variety of gas, diesel and jet fuel–and Dangote would basically walk away with a monopoly on refined oil in the country. The four Nigerian National Petroleum refineries are viewed as corrupt to the point of nonfunctioning.
To make it happen, Dangote plans to invest some $10 billion to $11 billion in the project and an adjacent petrochemical plant, with at least $6.75 billion in debt financing. Dangote threw a big celebration the day he signed the loan terms at the Hilton in Abuja. Guests included state governors, bank executives and, naturally, the president.
Dangote wants his companies to have a combined market value of $100 billion; an oil refinery is the next part in that grand plan, and he wants it to go public by 2020.
Terraforming is almost complete on the refinery’s 10-square-mile site–a jungle swamp now turned into a sandy expanse. A drive-through reveals a few stick huts, the last remnants of native villages that were there before Dangote arrived. Dangote executives promise the government has compensated the displaced natives well. As a stream of black Dangote trucks pass–one with a full bed of armed guards–a woman scurries inside a hut and shoots back a dark look.
The convoy pulls to a halt on a palm-tree-lined beach, a tropical paradise more suited to multimillion-dollar condos than refining petrochemicals. It’s a goner, though, the future home of another Dangote empire. “The refinery will start in 2018 if we finish on time,” Dangote says, optimistic as always. “By that time all the dead bodies will have been removed from the street. All the trouble will be gone.” 

forbes.

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UK GENERAL ELECTIONS:Inquiry announced into memo alleging Sturgeon wants Tory election victory.

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Sandhurst's sheikhs: Why do so many Gulf royals receive military training in the UK? A parade outside the building at Sandhurst Continue reading the main story In today's Magazine The death list that names 5,000 victims Is this woman an apostate? Voices from a WW1 prison camp The Swiss selfie scandal Generations of foreign royals - particularly from the Middle East - have learned to be military leaders at the UK's Sandhurst officer training academy. But is that still a good idea, asks Matthew Teller. Since 1812, the Royal Military Academy Sandhurst, on the Surrey/Berkshire border, has been where the British Army trains its officers. It has a gruelling 44-week course testing the physical and intellectual skills of officer cadets and imbuing them with the values of the British Army. Alongside would-be British officers, Sandhurst has a tradition of drawing cadets from overseas. Many of the elite families of the Middle East have sent their sons and daughters. Perhaps the most notable was King Hussein of Jordan. Continue reading the main story Find out more Matthew Teller presents Sandhurst and the Sheikhs, a Whistledown production for BBC Radio 4, on Wednesday 27 August 2014 at 11:00 BST It will be available on iPlayer shortly after broadcast Four reigning Arab monarchs are graduates of Sandhurst and its affiliated colleges - King Abdullah of Jordan, King Hamad of Bahrain, Sheikh Tamim, Emir of Qatar, and Sultan Qaboos of Oman. Past monarchs include Sheikh Saad, Emir of Kuwait, and Sheikh Hamad, Emir of Qatar. Sandhurst's links have continued from the time when Britain was the major colonial power in the Gulf. "One thing the British were excellent at was consolidating their rule through spectacle," says Habiba Hamid, former foreign policy strategist to the rulers of Dubai and Abu Dhabi. "Pomp, ceremony, displays of military might, shock and awe - they all originate from the British military relationship." Sheikh Hamad Bin Isa Al Khalifa, King Abdullah, Sultan Qaboos Sandhurst alumni: King Hamad of Bahrain, King Abdullah of Jordan and Sultan Qaboos of Oman It's a place where future leaders get to know each other, says Michael Stephens, deputy director of the Royal United Services Institute, Qatar. And Sandhurst gives the UK influence in the Gulf. "The [UK] gets the kind of attention from Gulf policy elites that countries of our size, like France and others, don't get. It gives us the ability to punch above our weight. "You have people who've spent time in Britain, they have… connections to their mates, their teachers. Familiarity in politics is very beneficial in the Gulf context." "For British people who are drifting around the world, as I did as a soldier," says Brigadier Peter Sincock, former defence attache to Saudi Arabia, "you find people who were at Sandhurst and you have an immediate rapport. I think that's very helpful, for example, in the field of military sales." The Emir of Dubai Mohammad bin Rashid Al Maktoum with his son after his Passing Out Parade at Sandhurst in 2006 Sheikh Mohammad bin Rashid Al Maktoum, Emir of Dubai, with his son in uniform at Sandhurst in 2006 Her Majesty The Queen's Representative His Highness Sheikh Hamad bin Khalifa Al-Thani, The Emir of Qatar inspects soldiers during the 144th Sovereign's Parade held at The Royal Military Academy Sandhurst on April 8, 2004 in Camberley, England. Some 470 Officer cadets took part of which 219 were commissioned into the British Army Hamad bin Khalifa Al-Thani, the Emir of Qatar until 2013, inspects soldiers at Sandhurst in 2004 Emotion doesn't always deliver. In 2013, despite the personal intervention of David Cameron, the UAE decided against buying the UK's Typhoon fighter jets. But elsewhere fellow feeling is paying dividends. "The Gulf monarchies have become important sources of capital," says Jane Kinninmont, deputy head of the Middle East/North Africa programme at the foreign affairs think tank Chatham House. "So you see the tallest building in London being financed by the Qataris, you see UK infrastructure and oilfield development being financed by the UAE. There's a desire - it can even seem like a desperation - to keep them onside for trade reasons." British policy in the Gulf is primarily "mercantile", says Dr Kristian Coates Ulrichsen, of the Baker Institute in Houston, Texas. Concerns over human rights and reform are secondary. The Shard at dusk The Shard was funded by Qatari investors In 2012 Sandhurst accepted a £15m donation from the UAE for a new accommodation block, named the Zayed Building after that country's founding ruler. In March 2013, Sandhurst's Mons Hall - a sports centre - was reopened as the King Hamad Hall, following a £3m donation from the monarch of Bahrain, who was educated at one of Sandhurst's affiliated colleges. The renaming proved controversial, partly because of the perceived slight towards the 1,600 British casualties at the Battle of Mons in August 1914 - and partly because of how Hamad and his government have dealt with political protest in Bahrain over the last three years. A critic might note that the third term of Sandhurst's Officer Commissioning Course covers counter-insurgency techniques and ways to manage public disorder. Since tension between Bahrain's majority Shia population and minority Sunni ruling elite boiled over in 2011, more than 80 civilians have died at the hands of the security forces, according to opposition estimates, though the government disputes the figures. Thirteen police officers have also lost their lives in the clashes. "The king has always felt that Sandhurst was a great place," says Sincock, chairman of the Bahrain Society, which promotes friendship between the UK and Bahrain. "Something like 20 of his immediate family have been there as cadets. He didn't really understand why there was such an outcry." David Cameron and King Hamad David Cameron meeting King Hamad in 2012... A protester is held back by police ... while protesters nearby opposed the Bahrain ruler's human rights record Crispin Black, a Sandhurst graduate and former instructor, says the academy should not have taken the money. "Everywhere you look there's a memorial to something, a building or a plaque that serves as a touchstone that takes you right to the heart of British military history. Calling this hall 'King Hamad Hall' ain't gonna do that." Sandhurst gave a written response to the criticism. "All donations to Sandhurst are in compliance with the UK's domestic and international legal obligations and our values as a nation. Over the years donations like this have saved the UK taxpayer a considerable amount of money." But what happens when Sandhurst's friends become enemies? In 2001, then-prime minister Tony Blair visited Damascus, marking a warming of relations between the UK and Syria. Shortly after, in 2003, Sandhurst was training officers from the Syrian armed forces. Now, of course, Syria is an international pariah. Journalist Michael Cockerell has written about Libyan dictator Colonel Gaddafi's time at the Army School of Education in Beaconsfield in 1966: "Three years [later], Gaddafi followed a tradition of foreign officers trained by the British Army. He made use of his newfound knowledge to seize political power in his own country." Ahmed Ali Sandhurst-trained Ahmed Ali was a key player in the Egyptian military's removal of Islamist President Mohammed Morsi That tradition persists. In the 1990s Egyptian colonel Ahmed Ali attended Sandhurst. In 2013 he was one of the key figures in the Egyptian military's removal of Islamist President Mohammed Morsi, now rewarded by a post in President Sisi's inner circle of advisers. In the late 1990s there were moves by the British government under Tony Blair to end Sandhurst's training of overseas cadets. Major-General Arthur Denaro, Middle East adviser to the defence secretary and commandant at Sandhurst in the late 1990s, describes the idea as part of the "ethical foreign policy" advocated by the late Robin Cook, then-foreign secretary. Tony Blair and Robin Cook Tony Blair and Robin Cook at one point planned to end Sandhurst's training of overseas cadets The funeral of King Hussein in 1999 appears to have scuppered the plan. "Coming to that funeral were the heads of state of almost every country in the world - and our prime minister was there, Tony Blair," says Major-General Denaro. "He happened to see me talking to heads of state - the Sultan of Brunei, the Sultan of Oman, the Bahrainis, the Saudis - and he said 'How do you know all these guys?' The answer was because they went to Sandhurst." Today, Sandhurst has reportedly trained more officer cadets from the UAE than from any other country bar the UK. The May 2014 intake included 72 overseas cadets, around 40% of whom were from the Middle East. "In the future," says Maryam al-Khawaja, acting president of the Bahrain Centre for Human Rights, "people will look back at how much Britain messed up in the [Middle East] because they wanted to sell more Typhoon jets to Bahrain, rather than stand behind the values of human rights and democracy." "It's one thing saying we're inculcating benign values, but that's not happening," says Habiba Hamid. Sandhurst is "a relic of the colonial past. They're not [teaching] the civic values we ought to find in democratically elected leaders." line Who else went to Sandhurst? Princes William and Harry, Winston Churchill, Ian Fleming, Katie Hopkins, Antony Beevor, James Blunt, Josh Lewsey, Devon Harris (From left to right) Princes William and Harry Sir Winston Churchill Ian Fleming, creator of James Bond (but did not complete training) Katie Hopkins, reality TV star Antony Beevor, historian James Blunt, singer-songwriter Josh Lewsey, World Cup-winning England rugby player Devon Harris, member of Jamaica's first bobsleigh team line Sandhurst says that "building international relations through military exchanges and education is a key pillar of the UK's international engagement strategy". Sandhurst may be marvellous for the UK, a country where the army is subservient to government, but it is also delivering militarily-trained officers to Middle Eastern monarchies where, often, armies seem to exist to defend not the nation but the ruling family.

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Generations of foreign royals - particularly from the Middle East - have learned to be military leaders at the UK's Sandhurst officer training academy. But is that still a good idea, asks Matthew Teller. Since 1812, the Royal Military Academy Sandhurst, on the Surrey/Berkshire border, has been where the British Army trains its officers. It has a gruelling 44-week course testing the physical and intellectual skills of officer cadets and imbuing them with the values of the British Army. Alongside would-be British officers, Sandhurst has a tradition of drawing cadets from overseas. Many of the elite families of the Middle East have sent their sons and daughters. Perhaps the most notable was King Hussein of Jordan. Four reigning Arab monarchs are graduates of Sandhurst and its affiliated colleges - King Abdullah of Jordan, King Hamad of Bahrain, Sheikh Tamim, Emir of Qatar, and Sultan Qaboos of Oman. Past monarchs include Sheikh S
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