Ethiopia’s richest man loses $100 million in just 6 days
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth has declined by $100 million in just six days, the latest setback in a string of wealth declines.
Magic Johnson joins Taylor Swift and 263 others in the ranks of world’s newest billionaires
His inclusion in the exclusive billionaire club underscores his enduring legacy both on and off the basketball court.
Globacom founder Mike Adenuga’s net worth rebounds sharply, nearing $7 billion
Adenuga remains among the world’s 400 richest people and one of the top five wealthiest individuals in Africa.
South African businessman Barry Swartzberg loses $8.7 million in Discovery stake
Despite these substantial losses, Swartzberg continues to hold his ground as one of South Africa’s prominent businessmen.
African-American billionaire Alex Karp’s fortune drops $100 million in 19 days
The pullback coincides with a recent downgrade of Palantir Technologies (PLTR), the data analytics software firm Karp co-founded.
Late Nigerian banker Herbert Wigwe led Access Holdings to $451-million profit in 2023
While Wigwe’s leadership is sorely missed, his impact remains evident in the group’s record-breaking 2023 profits.
Black executive Kenneth Frazier’s stake in Merck & Co. tops $90 million
Frazier, a prominent Black executive in the U.S., holds a 0.028-percent stake in Merck & Co., which is currently valued at more than $90 million.
Diddy faces nearly $100-million debt on luxury LA, Miami mansions raided by feds
Despite his immense wealth and fame, Diddy still finds himself burdened with a substantial debt, with $100 million remaining unpaid.
South African mogul Neal Froneman’s investment in Sibanye eyes $10-million valuation
According to data tracked by Billionaires.Africa, the recent surge in Sibanye shares on the JSE has resulted in a notable increase in Froneman’s stake.
Despite $1.4-billion wealth, Rihanna pushes Fenty Beauty into China
The decision to expand into China follows its recent entry into the Indian market, underscoring Rihanna’s ambition to build a global beauty empire.
Equity Group led by Kenyan banker James Mwangi to reward shareholders with $114.4-million dividend
With Mwangi at the helm, the conglomerate remains on course for sustainable expansion and prosperity within the African financial sector.
South African billionaire Christo Wiese’s stake in Shoprite falls below $900 million
After a brief rise in February-March, his stake in Shoprite has declined by more than $60 million, dipping below $900 million.
Nigerian billionaire Femi Otedola sees net worth jump to $1.7 billion
This surge is attributed to the strong performance of his diverse investment portfolio and a recent strengthening of the Nigerian naira against the U.S. dollar.
Firm led by Kenyan tycoon Edward Kirathe announces $3.6-million dividend payout
The company’s decision to reward its unit holders comes after declaring its first distribution from its development Reits, marking a significant increase from the initial projection.
Egypt’s El-Sewedy family loses billionaire status as Elsewedy Electric shares tumble
Their 68.1-percent stake in Elsewedy Electric, once valued at $1.29 billion on March 14, has declined to $970.05 million at the time of drafting this report.
Egyptian tycoon Alaa Arafa’s GTEX lists on EGX, market cap nears $20 million
This move signifies a pivotal moment for GTEX, opening doors for public ownership and underscoring its commitment to global expansion.