Zimbabwe’s richest man Strive Masiyiwa adds $100 million to net worth in 2024

Zimbabwe’s richest man Strive Masiyiwa has further solidified his standing among Africa’s wealthiest individuals by adding $100 million to his fortune since the start of the new year, according to recent data from U.S. business magazine Forbes.

Masiyiwa, whose wealth surged by $600 million throughout 2023, boasts a current net worth of $1.9 billion, marking a significant rise from the $1.8 billion recorded at the start of the year. The increase is attributed to the robust performance of his diversified investment portfolio, which spans the telecommunications and technology sectors.

Despite the Zimbabwean dollar’s continuous devaluation, Masiyiwa’s stakes in publicly listed companies on the Zimbabwe Stock Exchange have witnessed substantial growth. The Zimbabwean dollar has lost nearly 48 percent of its value against the U.S. dollar in 2024 alone, but Masiyiwa’s holdings, notably in Econet Zimbabwe and EcoCash Holdings, have surged by triple digits percent during the same period.

Econet Zimbabwe and EcoCash Holdings: Masiyiwa’s key investments thrive amid economic challenges

Maintaining a 52.85-percent stake in Econet Zimbabwe, the nation’s foremost telecommunications service provider, and an additional 30-percent stake in EcoCash Holdings, an innovative technology firm specializing in digital and financial solutions, Masiyiwa has navigated the challenging economic landscape with remarkable success.

Econet Zimbabwe’s shares have experienced a remarkable 116.8-percent increase since the year began, propelling the market capitalization of the leading telecom company above the $400-million mark.

Simultaneously, the share price of EcoCash Holdings has soared by more than 260 percent in 2024 alone, elevating the group’s market capitalization beyond $135 million.

Strive Masiyiwa’s net worth nears $2 billion, securing 1,609th spot among global billionaires

As Masiyiwa’s fortune hovers on the brink of surpassing the $2-billion mark, he presently holds the 1,609th position among the world’s richest individuals, as per Forbes rankings. With his wealth trajectory continuing its upward trajectory, Masiyiwa’s financial success cements his position among the global elite.

In a year marked by economic challenges, Masiyiwa’s strategic investments and resilient portfolio have not only weathered currency devaluations but have also propelled him to new heights in the realm of global wealth.