🔎 MJ's big deal, Silly SABC and Snowy JHB

Welcome to The Jungle: We are like a braai on a Saturday - you gotta love us!

Here’s what Tarzan has for you today:

• MJ Madness: Michael Jordan is a shark on the court and in business!

• SABC Stupidity: TV Licence lawsuits can get OUTA here!

• Magical Music: Make money with your favourite artists!

A story for the ages!!

Micheal Jordan, being one of the greatest NBA players of all time has made more money in his latest deal than he ever did playing NBA!

Let Tarzan slap you with juicy gossip!

Background

It starts with BET - Black Entertainment Television - which was sold by founder Bob Johnson to Viacom for $3 billion in 2001. It’s said that Bob received just over $1 billion from this deal.

As any new billionaire would, Bob decided to diversify his money between everything from hotels to auto dealerships to buying an NBA team - the Charlotte Bobcats in fact. $1 billion can disappear very quickly if you diversify so aggressively.

To add to Bob’s dissipating billions, he and his wife got divorced. The judge ruled in favour of his wife meaning Bob had to cough up $400 million for his ex!

THE JUICE:

Now, after spending $330 million to buy the Bobcats and $400 million to his ex-wife, 2 major things happened:

1. The business behind the NBA team started failing - so severely that it would nearly wipe out all of Bob’s net worth just to cover the debts; AND

2. Get this…. wait for it…. his ex-wife ended up marrying the judge that awarded her the $400 million!!!! Tarzan couldn’t make this up!

What does Michael Jordan have to do with this?

Well, Bob was struggling so much for cash that he looking to sell the NBA team - BUT, no buyers.

Except for the G.O.A.T - who spotted an opportunity. Michael knew the trouble that Bob was in and gave a lowball offer of $25 million a long with covering the debts that the NBA team had racked up - Overall, Micahel invested roughly $275 million to have majority control of the team.

Fast forward to June 2023:

Michael has built up the franchise of the NBA team and is looking to sell his majority stake with a valuation of $3 billion! Michael is expected to receive at least $2 billion of that!

Poor Bob - from billionaire to nowhere! Screwed over by his wife, Micheal Jordan and that sly, sly judge!

That being said, if this gets to you Bob - The Jungle is always on the look out for investors 😉.

Teasers for the office

Office teasers are here for Tarzan to help you stand out in the office or through virtual interaction with your colleagues - it’s a pleasure!

Ever wondered why we ‘raise a toast’ with our drinks in the air to begin a speech or monologue?

The term ‘toast’ came from the Romans. They would put a piece of burnt toast into their wine glasses to temper some of the bad wine the Romans sometimes had to drink. The charcoal from the toast would reduce the acidity of off-wines making them more palatable. 🥂

oH nO - wE mUsT pAy oUr Tv LiCeNcE 😂

Raise your hand if you are part of the 5.6 million accounts handed over to debt collectors for not paying your TV licence 🙋

Minister Mondli Gungubele announced that the SABC has handed over R44.2 billion in TV licence fees owed by 9.2 million South Africans! Supposedly, if the external debt collectors fail to claim the payments, you can be taken to court!

Here’s the low-down:

• The Organisation Undoing Tax Abuse (Outa) says the SA population should chill - there is not much to be concerned about.

• The maximum penalty for failing to comply with TV licence laws is a R500 fine or up to six months in prison.

• But the fees that would be needed to get non-payers prosecuted would be MASSIVE! Far more than what you owe!

So if you have received one of the vague messages from a debt collector regarding your TV licence payment, just send them this:

Enough drama on this newsletter - Here’s something cool! 😎

Make money off of your favourite artist’s songs!

Just like the SABC not paying South African artists their royalties, we know a lot of record labels/platforms around the world have often too much control over artists and their respective revenue.

Solution incoming:

• Corite is a Swedish platform that aims to provide a solution for artists seeking greater control and revenue in the music industry.

• As an artist, you can crowdfund your new releases, while fans (or investors) can have a share in some of the juicy profits!

• Corite takes a 5% cut in order to continue operations.

The company hopes to provide an alternative model that allows artists and fans to have a say in revenue distribution.

Tarzan gives a thumbs up and thinks its a company to look out for!

ICYMI

🚗 Slow down, boet! - JHB motorists urged to slow down due to snow

📝 New driving licences for South Africa because of 2 reasons - We have 1 printing machine for driver’s licences in South Africa, ONE!

⚡ Eskom pleads with South Africans - Eskom asking South Africans to stop using electricity almost as much as South Africans asking Eskom to produce electricity.

Meme of the day

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