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*THE BILLIONAIRES’ WORLD*‘ I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

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T. Denny Sanford wanted to die broke and he nearly pulled it off.

The South Dakota banking magnate spent decades giving away his fortune, and by the end he had parted with more than $4 billion, $2 billion of which went to his namesake health system. The billionaire philanthropist died July 18 at age 90. As of March, his net worth was estimated at $2.4 billion.

“I want to die broke,” Sanford told Forbes in 2007. “Very plainly, very succinctly, I look at life as an investor. What will give me or my community the best return?”

His donations turned a small regional hospital into one of the largest rural health-care networks in the country. That made him the “greatest philanthropist in South Dakota history,” according to South Dakota Gov. Larry Rhoden.

Sanford gave across the state, which resulted in the Sanford Underground Research Facility, a major state asset in science and education; the Build Dakota Scholarships and the Premier/Freedom Scholarship, which have gone to thousands of young people; the Sioux Falls Development Foundation; and the Children’s Home Society of South Dakota, where he was the biggest donor, according to the governor’s office.

“Beyond his high-profile gifts, Denny was a key reason that Sioux Falls has such a strong culture of philanthropy, and many important community improvements benefited from his support,” Lt. Governor Tony Venhuizen said in a statement. A 2024 study by Financial Planning ranks South Dakota as the ninth-most philanthropic state in the U.S., based on philanthropic giving, volunteering, and service rates.

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How Denny Sanford made his fortune

Sanford grew up poor in St. Paul, lost his mother to breast cancer at four, and started working in his father’s garment shop around age eight. He used to call a teenage brawl that landed him in jail—and a judge who sprang him to enroll at the University of Minnesota—the best thing that ever happened to him, according to a profile of him by a local publication. He went on to study there and forged a formidable career in finance afterward.
Sanford’s money came from a somewhat unglamorous corner of finance. He bought a Sioux Falls bank from a friend in 1986, which became First Premier Bank. He made his fortune from its credit card arm, Premier Bankcard, which issued high-interest cards to people with bad or no credit, a practice made possible by South Dakota’s lenient banking laws. The business was lucrative enough to push Sanford’s net worth past $3 billion, according to a local publication.

To be sure, Sanford never pretended the cards were cheap. He called them a lifeline for credit-impaired customers, who still paid $175 in fees for a $1,000 credit limit, according to the 2007 Forbes profile of Sanford.

Having made his fortune, Sanford made it his mission to give it away. In 2007, Sanford handed $400 million to a small regional health provider—the largest gift to a health system in U.S. history at the time. The provider took his name, and other checks built Sanford Health into a Midwest powerhouse of hospitals and clinics. His giving to the health system ultimately totaled about $2 billion.

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The giving spread far past the Dakotas. From La Jolla (a neighborhood in San Diego), where he later lived, Sanford poured millions into UC San Diego, the Sanford Consortium, and the San Diego Zoo and Safari Park.
The Chronicle of Philanthropy named him one of the 50 most generous philanthropists in the country, a list he made repeatedly. In 2025, he ranked No. 14 in the U.S., having donated $321 million.

His record does carry a shadow. In 2020, ProPlubica reported Sanford was under investigation for possible possession of child pornography. Investigators obtained search warrants, and the case was referred to the Justice Department. Unsealed court records later alleged image files tied to an email account linked to Sanford. His lawyers said others had access to his devices and cited signs of hacking. In 2022, South Dakota’s attorney general declined to file charges, finding no prosecutable offenses within the state’s jurisdiction. Sanford signed the Giving Pledge in 2010 and was removed from it in 2023 after the investigation.

Still, Sanford leaves behind a legacy of extraordinary giving. He was long set on giving away his money while he was alive, rather than leaving it to a foundation to perpetuate his wealth.

“He could have done many things with his money, yet he reinvested it in South Dakota,” Premier Bankcard CEO Miles Beacom said in a statement.

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Benue Assembly Extends Kwande LG Chairman’s Suspension by Six Months

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By Vincent Tyosuugh

The suspension of Mr Vitalis Neji, Chairman of Kwande Local Government Area,
has been extended by six more months over allegations of gross misconduct and abuse of office, by the Benue State House of Assembly.

The Majority Leader, Mr Bemdoo Ipusu, on Thursday during plenary in Makurd, moved a motion for the extension and it was seconded by the Minority Leader, Mr Isaac Ochekliye.

Mr Alfred Emberga, speaker, ruling on the motion, directed Mrs Rita Iortsor, to continue in her acting capacity as chairman of the council until the conclusion of the investigation.

Neji was suspended on August 20 for three months based on the interim report by an ad hoc committee set up by the House to investigate allegations against him.

The committee’s report which was presented by the then Majority Leader and committee chairman, Mr Peter Ipusu, said Neji appeared in his appearance was unable to satisfactorily defend himself against the allegations.

Consequently, the House recommended his suspension, with the speaker ruling that it should take immediate effect to allow for further investigation into the allegations.

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2027: More Hurdles for Atiku from Abuja Court Judgment

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By Isa Abdul, Abuja

The hurdles for the African Democratic Congress leadership and its presidential candidate, Atiku Abubakar, are certainly multiplying ahead of the 2027 general elections, with a Federal High Court in Abuja invalidating a resignation letter allegedly written by former Deputy National Chairman, Nafiu Bala Gombe.

The development has further complicated the dispute over the party’s leadership, following last week’s judgment which nullified the emergence of the National Working Committee led by former Senate President, Senator David Mark.

Justice Peter Lifu made a consequential declaration rendering every decision taken by the Mark-led NWC null and void, including the nomination and candidacy of former Vice President Atiku Abubakar as presidential candidate of the ADC.

The weight of that decision has sunk deep against Atiku’s ambition to lead Nigeria.

According to the Punch, in the Certified True Copy of the judgment obtained on Wednesday, the court ordered that “…all actions, decisions, and steps taken by the 2nd (David Mark) and 3rd (Rauf Aregbesola) defendants [and other members of the NWC they represent] as national officers of the 1st defendant (ADC), from July 29, 2025, the date of their unlawful and illegal emergence as such officers, are null, void, and without effect.”

Although the court stopped short to declare Gombe the party’s substantive National Chairman, it ruled that the Independent National Electoral Commission should recognise him as the only elected member of the ADC’s National Working Committee whose four-year tenure remained valid.

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But holding on a string for survival, the ADC Presidential Campaign Council claimed that Gombe had acknowledged Mark as the National Chairman of the party during a National Executive Committee meeting. It also claimed that Gombe had officially resigned.

But Gombe denied resigning from his position, claiming that the purported letter of his resignation was fake with his signature bring forged to give it validity.

Lifu in his judgment also acknowledged some discrepancy in the signature which gave heft to his decision that it was forged.

Furthermore, Justice Peter Lifu, in the judgment of November 5, held that the invalidation of the process that produced Mark and former Minister of Interior, Rauf Aregbesola, as National Chairman and National Secretary, respectively, did not automatically confer leadership of the party on Gombe.

In the CTC, the judge said the invalidity of the disputed leadership arrangement and Gombe’s claim to a particular office were separate legal issues.

“I must, however, distinguish the invalidity of a process from the plaintiff’s claim to automatic succession,” Lifu held.

He said Gombe’s argument that he was the only elected member of the party’s NWC who had not resigned might entitle him to supervise the party’s affairs. Still, he did not automatically establish his entitlement to a specific national office.

“The validity of the challenged process and the plaintiff’s entitlement to a particular office are related but separate questions,” the judge stressed.

He further stated that any declaration recognising Gombe as entitled to act as a national officer must be supported by the relevant provisions of the party’s constitution, evidence and applicable laws.

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“Any relief declaring him entitled to act as a national officer must be supported by the applicable constitutional provisions and evidence, and subject to the internal working arrangements and decisions of the 1st Defendant and the provisions of applicable laws,” he said.

The court, however, declared that INEC was bound to recognise Gombe as “the only elected member” of the party’s NWC “whose four-year tenure remains in effect.”

Gombe had told the court that he was elected Deputy National Chairman on October 12, 2022, for four years.

Meanwhile, ADC has vowed to contest the judgment at the Court of Appeal with the view of upturning Justice Lifu’s rulings.

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Four UNN Students Confirmed Dead Following Off-Campus Party

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By Lazarus Oko

The University of Nigeria, Nsukka (UNN) community has been thrown in grief, shock and mourning over the deaths of four students who reportedly participated in an off-campus party.

The deaths were confirmed by the Vice-Chancellor, Prof. Simon Ortuanya, who disclosed in a statement posted on the university’s Facebook page on Thursday that six other students who attended the gathering were receiving treatment at different hospitals.

Ten students from different departments, according to the statement, attended the party organised to celebrate a friend who had completed his final-year examinations. The four reportedly died after consuming substances suspected to be alcohol and drugs.

“Within these three days, all social and academic activities will be suspended in the University,” Ortuanya announced, saying the incident was “death too many”.

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