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Why children of wealthy parents struggle to make their own decisions
Wealth makes it easy for parents to solve every problem. Lorna Gray, an adviser to ultra-wealthy families, says children need room to decide for themselves.
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Why children of wealthy parents struggle to make their own decisions
Wealth makes it easy for parents to solve every problem. Lorna Gray, an adviser to ultra-wealthy families, says children need room to decide for themselves.
Morocco's royal holding Al Mada leads $12 million round in AI startup Journify
Al Mada Ventures, backed by the investment holding of Morocco's royal family, led a $12 million Series A in advertising data startup Journify.
Priscilla Chan, wife of billionaire Mark Zuckerberg, tops $100 million in Hawaii giving
Priscilla Chan marked 10 years of giving on Kauai, where she and Mark Zuckerberg have committed more than $100 million to local groups since 2016.
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Africa's ten richest are worth $142.5 billion, up $21.2 billion since September, and Aliko Dangote accounts for 39% of it. The other nine together lost ground. A name-by-name deep-dive on what drives each fortune, why the estimates differ, and what could move the list next.
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Idrissa Nassa started out trading bicycle parts in 1984. In 2001 he bought a struggling Burkinabe lender, and today Coris has about $9 billion in assets and a share price up 196% this year. How the trader built the bank, and what his move into Central Africa will test.
Wealth Intelligence: The Heirs — How the Rupert, Oppenheimer and Le Roux Families Are Passing On $30 Billion, and What Succession Means for Richemont, Capitec and South African Capital
Johann Rupert is 76, Nicky Oppenheimer 81 and Michiel le Roux 77. Between them they control about $30 billion, and each family is handing over in a different way. How the structures work, what the heirs have done, and what succession means for Richemont, Capitec and their investors.
Morocco's royal holding Al Mada leads $12 million round in AI startup Journify
Al Mada Ventures, backed by the investment holding of Morocco's royal family, led a $12 million Series A in advertising data startup Journify.
Egypt’s richest man Nassef Sawiris wins 99.85% vote to merge OCI and Orascom
Egypt’s richest man won near-unanimous approval to fold OCI into Orascom Construction, creating an Abu Dhabi investment group he will chair.
Egyptian billionaire Nassef Sawiris' Aston Villa commits to Unai Emery beyond 2029
Egyptian billionaire Nassef Sawiris's Aston Villa says it has a clear commitment from manager Unai Emery beyond 2029, after interest from Manchester United.
Egyptian billionaire Mohamed Mansour's $150 million electric car plant to open in 2027
Egyptian billionaire Mohamed Mansour's group expects to finish its electric-vehicle plant near Cairo by early 2027, as his Right to Dream academy partners with Egypt.
Egyptian billionaire Nassef Sawiris wins shareholder approval to merge OCI with Orascom Construction
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Egyptian billionaire Ahmed Elsewedy's Elsewedy Electric moves into elevators
Elsewedy Electric, the industrial group run by Egyptian tycoon Ahmed Elsewedy, has launched an elevator brand and wants 1 billion pounds in sales in 2027.
Egyptian billionaire Nassef Sawiris wins apology from TV pundit Jamie Carragher
TV pundit Jamie Carragher apologized to Aston Villa, its owners and fans less than 24 hours after Egyptian billionaire Nassef Sawiris threatened legal action.
Egyptian pharma tycoon Ahmed Abu Al-Naga sells half of ATCO for $50 million
Private equity firm RMBV is taking 50% of ATCO Pharma, the Egyptian drugmaker run by Ahmed Abu Al-Naga, in a $50 million deal.
Aliko Dangote raises Africa investment target to $60 billion as he breaks ground on $2.5 billion Namibia fuel hub
Aliko Dangote raised his Africa investment target to $60 billion by 2030 and broke ground on a $2.5 billion fuel project in Namibia.
Nigerian billionaire Abdul Samad Rabiu donates $183,000 building to Sokoto university
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Nigerian businessman Atedo Peterside says President Tinubu's reforms make the rich richer
Atedo Peterside, the founder of Stanbic IBTC, says President Bola Tinubu's reforms are making wealthy Nigerians richer while the country's poor fall further behind.
Nigerian billionaires Dangote and Rabiu's cement firms spend $584 million on energy
Dangote Cement and BUA Cement spent ₦797.1 billion on energy in nine months, as BUA Cement secures a permit to generate its own electricity.
Nigerian tycoon Aderemi Makanjuola's Caverton rebounds 10% after 36% slide
Caverton Offshore Support Group, controlled by Nigerian tycoon Aderemi Makanjuola, bounced 9.84% on Wednesday after a 36% slide that followed its nine-month loss.
Ghanaian waste tycoon Joseph Siaw Agyepong signs deal to clean up Guinea's capital
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Nigerian billionaire Aliko Dangote's refinery set to list in December at $48 billion
Aliko Dangote's refinery is set to start trading in Lagos in early December after its IPO drew ₦6.4 trillion in orders, three times its target.
Nigeria’s second-richest man Abdul Samad Rabiu calls Femi Otedola a fighter at 64
BUA Group chairman Abdul Samad Rabiu hailed Femi Otedola as a fighter on his 64th birthday, as Otedola’s giving passes $40 million over two decades.
Kenyan billionaire Narendra Raval’s $539 million Kitui cement plant to create 4,000 jobs
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Sudanese-British billionaire Mo Ibrahim tells Zambia's president not to waste his first term
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Billionaires Narendra Raval, Edha Nahdi bet $600 million on clinker as Sarbjit Rai enters cement business
Narendra Raval's West Pokot plant and Edha Nahdi's Kwale project commit roughly Sh77 billion ($600m) to clinker, the input East Africa has always imported. Now Sarbjit Singh Rai has filed for a third plant in Nyeri.
President Paul Kagame says Rwanda wants a stake in Dangote's $16 billion Kenyan refinery
Rwanda's President Paul Kagame has confirmed his country is in early talks about taking a stake in Aliko Dangote's planned $16 billion Lamu oil refinery, saying Rwanda would be "very happy" to participate.
Aliko Dangote offers Kenya a $500 million stake in $20 billion Lamu refinery as September groundbreaking nears
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Madagascar's richest man Ylias Akbaraly attacks Elon Musk's layoffs in a new book
Madagascar's richest man Ylias Akbaraly criticises Elon Musk's mass layoffs in a new memoir, saying job cuts expose people to social death.
Esther Koimett becomes Middle East Bank Kenya's largest shareholder after inheriting Nicholas Biwott's stake
Esther Koimett, daughter of the late Kenyan billionaire and cabinet minister Nicholas Biwott, has emerged as Middle East Bank Kenya's largest individual shareholder with a 17.48% stake.
Aliko Dangote plans $17 billion refinery on Kenya's Lamu Island to end East Africa's fuel imports
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South African tycoon Tshepo Mahloele's Lebashe sees iOCO stake fall to 14.4%
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South African billionaire Johann Rupert warns global uncertainty is here to stay
Remgro chairman Johann Rupert says global uncertainty will no longer come in passing waves and that South Africa needs policy certainty and faster decisions.
South African Newmont CEO Natascha Viljoen gives up 25,780 shares worth $2.9 million
Newmont CEO Natascha Viljoen disposed of 25,780 shares worth about $2.9 million as stock awards vested and a sale under her trading plan went through.
South African auto mogul Jebb McIntosh dies at 80, leaving $59 million stake
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South Africa's van der Walt brothers' WeBuyCars stake falls to $41 million
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South African billionaire Patrice Motsepe's GoTyme bank targets 30 million customers by 2036
GoTyme, the digital lender backed by South African billionaire Patrice Motsepe, aims to overtake Capitec as the country's biggest bank by customers by 2036.
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Ethiopian billionaire Mohammed Al-Amoudi's Nyala Insurance tops $6 million in profit
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Dahabshiil Motors, the car arm of Abdirashid Duale's Dahabshiil Group, has signed a deal to become an authorized dealer for China's Chery in Somalia.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi is the man foreign companies use to get into Ethiopia
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
Ethiopian billionaire Mohammed Al-Amoudi is rebuilding his gold business in a new region
MIDROC has ordered Austrian machinery for a plant treating 1.25 million tonnes of ore a year, eight years after Ethiopia suspended its main mine.
Latest Posts
Why children of wealthy parents struggle to make their own decisions
Wealth makes it easy for parents to solve every problem. Lorna Gray, an adviser to ultra-wealthy families, says children need room to decide for themselves.
Aliko Dangote raises Africa investment target to $60 billion as he breaks ground on $2.5 billion Namibia fuel hub
Aliko Dangote raised his Africa investment target to $60 billion by 2030 and broke ground on a $2.5 billion fuel project in Namibia.
Morocco's royal holding Al Mada leads $12 million round in AI startup Journify
Al Mada Ventures, backed by the investment holding of Morocco's royal family, led a $12 million Series A in advertising data startup Journify.
American billionaire Martine Rothblatt's United Therapeutics posts record $832.5 million third-quarter revenue
United Therapeutics, the drugmaker founded and run by Martine Rothblatt, reported record third-quarter revenue of $832.5 million, and its shares climbed in early trading.
Priscilla Chan, wife of billionaire Mark Zuckerberg, tops $100 million in Hawaii giving
Priscilla Chan marked 10 years of giving on Kauai, where she and Mark Zuckerberg have committed more than $100 million to local groups since 2016.
Australian iron ore billionaire Alexandra Burt gives $84 million to environmental groups
Alexandra and Julian Burt, heirs to one of Australia's oldest iron ore fortunes, are giving more than A$120 million to 10 conservation and environmental groups.
Indian beauty billionaire Falguni Nayar's Nykaa posts 207% jump in second-quarter profit
Nykaa, the Indian beauty and fashion retailer founded by billionaire Falguni Nayar, tripled its second-quarter profit as revenue passed ₹3,000 crore for the first time.
Israeli-American billionaire Miriam Adelson sells Dallas Mavericks stake to daughter and son-in-law, who now control the $3.5 billion team
Miriam Adelson sold her Dallas Mavericks stake to daughter Sivan Ochshorn and son-in-law Patrick Dumont, giving them 69% of a team bought at $3.5 billion.
Elon Musk's SpaceX lenders sell pieces of $40 billion chip deal
Goldman Sachs and Apollo are selling portions of a $40 billion financing that will pay for Nvidia AI chips leased to Elon Musk's SpaceX.
American billionaire Leon Black sues congressman for $7.25 million over Epstein claims
Leon Black, the Apollo Global Management co-founder, has sued Rep. Robert Garcia for defamation, claiming the congressman lied about his ties to Jeffrey Epstein.
Taiwanese billionaire Terry Gou's Hon Hai lifts October sales 46% to $39.7 billion on Nvidia AI server demand
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American tycoon Michael Russell's H.J. Russell joins $135 million Denver airport deal
H.J. Russell & Co. and AtkinsRéalis will jointly manage Denver International Airport's North Terminal expansion under a contract worth up to $135 million.
American billionaire Jeff Bezos adds $13.7 billion as Amazon shares jump after the US midterms
Jeff Bezos added $13.7 billion on Wednesday as Amazon shares jumped 6.1% after the midterms, recovering most of last week’s earnings-driven losses.
Steve Jobs's son Reed Jobs closes $350 million fund to make cancer non-lethal
Reed Jobs, son of Apple co-founder Steve Jobs, has closed his firm Yosemite's second cancer fund at $350 million, backed by Amgen, AbbVie and MIT.
American billionaire Sheila Johnson sells PGA Tour golf resort for $19.8 million
BET co-founder Sheila Johnson's Salamander Collection has agreed to sell Innisbrook Resort, home of a PGA Tour event, for $19.8 million in cash.
American billionaire Michael Dell loses $12.3 billion as Dell stock sinks after midterms
Michael Dell lost $12.3 billion on Wednesday as Dell Technologies shares fell more than 9%, hit by election-driven worries over data centers and AI.
