SpongeBob creator Stephen Hillenburg dies aged 57

Stephen Hillenburg, who created SpongeBob SquarePants and the absurd undersea world he inhabited, has died at age 57, Nickelodeon announced Tuesday.

Hillenburg died on Monday of Lou Gehrig's disease, also known as amyotrophic lateral sclerosis, the cable network said in a statement. He announced he had the disease in March 2017.

An Oklahoma native with a love of both drawing and marine biology, Hillenburg conceived, wrote, produced and directed the animated series that began in 1999 and went on to spawn hundreds of episodes, movies and a Broadway show.

“He was a beloved friend and long-time creative partner to everyone at Nickelodeon, and our hearts go out to his entire family,” Nickelodeon’s statement said. “Steve imbued ‘SpongeBob SquarePants’ with a unique sense of humour and innocence that has brought joy to generations of kids and families everywhere. His utterly original characters and the world of Bikini Bottom will long stand as a reminder of the value of optimism, friendship and the limitless power of imagination.”

The absurdly jolly SpongeBob, his starfish sidekick Patrick, and a vast cast of oceanic creatures quickly appealed to teens and parents as much as it did to kids.

“The fact that it’s undersea and isolated from our world helps the characters maintain their own culture,” Hillenburg told the Associated Press in 2001. “The essence of the show is that SpongeBob is an innocent in a world of jaded characters. The rest is absurd packaging.”

Born at his father’s army post in Lawton, Oklahoma, Hillenburg graduated from Humboldt State University in California in 1984 with a degree in natural resource planning with an emphasis on marine resources, and went on to teach marine biology at the Orange County Marine Institute.

He shifted to drawing and earned a master of fine arts degree in animation from the California Institute of the Arts in 1992.

That same year he created an animated short called Wormholes that won festival plaudits and helped land him a job on the Nickelodeon show Rocko's Modern Life, where he worked from 1993 to 1996 before he began to build SpongeBob's undersea world of Bikini Bottom, which showed off his knowledge of marine life and willingness to throw all the details out the window.

“We know that fish don’t walk,” he told the AP, “and that there is no organised community with roads, where cars are really boats. And if you know much about sponges, you know that living sponges aren’t square.”

The show was an immediate hit that has lost no momentum in the nearly 20 years since its creation. Its nearly 250 episodes have won four Emmys and 15 Kids Choice Awards, and led to an endless line of merchandise to rival any other pop cultural phenomenon of the 2000s.

In 2004, the show shifted to the big screen with The SpongeBob SquarePants movie and a 2015 sequel, The SpongeBob Movie: Sponge Out of Water.

A musical stage adaptation bowed on Broadway in 2017, with music from such stars as Steven Tyler, Sara Bareilles and John Legend. It earned 12 Tony Award nominations, including one for best performance by a leading actor for Ethan Slater.

“I am heartbroken to hear of the passing of Stephen Hillenburg,” Mr Slater said on Tuesday. “Through working on SpongeBob, I got to know him not only as a creative genius, but as a truly generous and kind person. He warmly embraced us on Broadway as the newest members of his wonderful SpongeBob family, and made it so clear from the get-go why he is so beloved: genuine kindness.”

The rules on fostering in the UAE

A foster couple or family must:

be Muslim, Emirati and be residing in the UAE
not be younger than 25 years old
not have been convicted of offences or crimes involving moral turpitude
be free of infectious diseases or psychological and mental disorders
have the ability to support its members and the foster child financially
undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially

A timeline of the Historical Dictionary of the Arabic Language

2018: Formal work begins
November 2021: First 17 volumes launched
November 2022: Additional 19 volumes released
October 2023: Another 31 volumes released
November 2024: All 127 volumes completed

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UAE currency: the story behind the money in your pockets

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.”

Key facilities

Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
Premier League-standard football pitch
400m Olympic running track
NBA-spec basketball court with auditorium
600-seat auditorium
Spaces for historical and cultural exploration
An elevated football field that doubles as a helipad
Specialist robotics and science laboratories
AR and VR-enabled learning centres
Disruption Lab and Research Centre for developing entrepreneurial skills