South African tycoon Markus Jooste, once worth $400 million, dies by suicide
The circumstances surrounding Jooste’s death remain under investigation, with authorities confirming that he was found with a gunshot wound to the head.
Africa’s richest man Aliko Dangote’s net worth hits $15 billion as naira rebounds to N1,400/$
Dangote’s financial resurgence reflects not only his vast fortune and investment portfolio but also the broader economic dynamics at play within Africa’s biggest economy.
Nigerian gambling magnate Kessington Adebutu makes $2.3 million from Wema Bank stake
This surge not only reaffirms Adebutu’s status as one of the wealthiest investors on the NGX but also underscores Wema Bank’s pivotal role in Nigeria’s financial landscape.
South African businessman Stephen Brookes loses $4.5 million in Balwin stake
Since Jan. 31, the market value of Brookes’ stake in Balwin Properties has declined by $4.55 million, decreasing from $21.84 million to $17.29 million.
Adaora Umeoji emerges as first female CEO of Nigeria’s most profitable bank
Umeoji will ascend to the helm of the institution, taking over the reins of control from Ebenezer Onyeagwu, whose term as group managing director and CEO expires on May 31.
Tech stock pullback leads to $300-million wealth loss for America’s second-richest Black billionaire
The recent downturn has also impacted Steward’s year-to-date wealth gains, which have now decreased to $667 million, according to data retrieved from the Bloomberg Billionaires Index.
Globacom founder Mike Adenuga’s stake in Julius Berger gains $3.4 million
This surge solidifies Adenuga’s position among the world’s wealthiest individuals.
Nigerian tycoon Michael J. Prest’s BONI secures $11 million for Nevis solar energy and hospitality development
This initiative aims to reduce energy bills, support business growth, create employment opportunities, and contribute to carbon emission targets.
South Africa’s Ackerman family loses $64 million as Pick ‘n Pay struggles mount
The downturn in Pick ‘n Pay’s market value coincides with recent financial challenges and legal disputes. The retailer is embroiled in a legal battle with one of its major franchises.
Adidas eyes new deals after cutting ties with Kanye West; Taylor Swift on radar
More than a year after a high-profile split with Kanye West, Adidas is stepping up its search for new collaborators, signaling a shift in its strategy.
Africa’s first Black billionaire Patrice Motsepe to receive $28.8 million from ARM
The $28.8-million interim dividend will be deposited into Patrice Motsepe’s bank account on Mon., April 8, 2024.
Egyptian tycoon Medhat Khalil’s firm eyes expansion via acquisition ahead of IPO
Raya Information Technology is actively pursuing the acquisition of a firm specializing in outsourcing and application development.
South African banker Sim Tshabalala reiterates Standard Bank’s commitment to climate policy amidst rising criticism
Standard Bank thrives financially but faces criticism for funding fossil fuels.
South African tycoon Jens Montanana loses $4.5 million from Datatec stake
Montanana’s significant shareholding continues to position him as one of the wealthiest investors on the Johannesburg Stock Exchange.
Michael Jordan’s net worth soars to $3.2 billion — here’s how he did it
Jordan’s historic inclusion on the 2023 Forbes 400 list marked a significant milestone — the first time a professional athlete cracked the ranks of America’s elite billionaires.
Adidas donates $150 million from sale of Kanye West’s Yeezy line to fight anti-Semitism
In its recently published financial results, Adidas disclosed extraordinary expenses totaling more than €340 million ($370 million), which included donations exceeding €140 million ($152 million).