A British teacher has become one of only six people to win the £1 million (Dh4.7m) jackpot in 22 years of Who Wants To Be A Millionaire? He is the first person to win big on the UK show in 14 years.
Donald Fear, 57, correctly answered the run of 15 questions, prompting the show's host, Jeremy Clarkson, to call him "an encyclopedia with a moustache".
Earlier in the show, Clarkson joked that sitting beside Fear was like "sitting next to the internet in a pink shirt".
A history and politics teacher, Fear only used one lifeline, his 50:50, leaving him with the ask the host and phone a friend options.
The final question happened to be something he taught in class, when studying pirates "about eight years ago".
The question was: "In 1718, which pirate died in battle off the coast of what is now North Carolina?" The possible answers were: Calico Jack, Blackbeard, Bartholomew Roberts and Captain Kidd. Without hesitation, Fear was able to answer Blackbeard.
When Clarkson asked how he remembered the answer, Fear replied: "I'm a dates man."
"You don't be a history teacher for 33 years without knowing a few dates and the date 1718 and Blackbeard leapt out at me instantly," he said.
When asked if he planned to keep going with his job after winning the prize, Fear replied: "No. Well, this will hasten retirement, put it that way.
"I will probably see another year or two out to see my last A-level class through but I think it's about time me and my wife start looking around the world."
In September last year, Fear's brother, Davyth, also competed on the show, taking home £500,000. He correctly answered 14 questions to do so.
Donald described his brother as his "hero and best friend", to which Clarkson replied "other way around now", when Donald won the jackpot.
The show is currently being filmed with no studio audience and physical distancing measures in place. After Frear answered his final question correctly, Clarkson remarked: "I can't go near you, obviously."
Watch Donald Fear win the 'Who Wants To Be A Millionaire?' jackpot here:
Frear would have been the seventh person to win on the UK show, but retired British Army officer Charles William Ingram was denied the winnings over suspicions he cheated when he appeared on the series in 2001.
That story was told in popular ITV mini series Quiz, which was shown this year:
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Off-roading in the UAE: How to checklist
How to vote
Canadians living in the UAE can register to vote online and be added to the International Register of Electors.
They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi
Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday)
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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