South African-British billionaire Clive Calder’s fortune jumps $300 million in 16 days

After a dip in early April, South African-British billionaire Clive Calder has seen his net worth surge by $300 million over the past 16 days. This leap brings his current wealth to $7.3 billion, solidifying his position as one of Africa’s wealthiest and the U.K.’s richest.

According to the Bloomberg Billionaires Index, Calder’s net worth rose from $7 billion on April 23 to $7.3 billion at press time, propelling him to 370th on the ranking. This translates to an impressive $19 million average daily gain since April 23, pushing his year-to-date gains to a substantial $475 million.

Calder’s fortune soars on private holdings

The recent surge in Michael Calder’s wealth is likely tied to the performance of his privately held assets. His fortune stems from the 2002 sale of Zomba Music Group, the record label he built into a global powerhouse, to German media giant Bertelsmann for a hefty $2.74 billion.

The South African-born, Cayman Islands-domiciled billionaire has since ventured beyond music. He made a significant $46-million investment in Cloud Imperium Games (CIG), the studio behind the long-awaited spacefaring game Star Citizen. This move secured Calder a 10-percent stake in CIG.

Philanthropy is another pillar of Calder’s endeavors

As the founder of ELMA Foundations, one of Africa’s leading private non-profits, he channels resources into critical areas like children’s healthcare, education, and youth development through music programs.

Notably, in May 2020, he pledged a commendable $107 million to combat COVID-19 in Africa, with $26 million specifically allocated to South Africa. Calder’s recent wealth surge solidifies his position as a top figure on both the African and global stages, underscoring his enduring influence.