Nigerian billionaire Abdul Samad Rabiu takes $3.14-billion hit in just over a month
Rabiu’s net worth is estimated at $5.1 billion, falling short of the $5.16-billion cutoff required to join the world’s 500 richest list.
Walgreens stock wipeout costs world’s highest-ranking Black CEO Roz Brewer nearly $1 million
Brewer, who holds the 27th position on the Fortune 500 list, boasts nearly 20 years of leadership experience.
Meet Chris Womack: Newest member of elite Black executives leading America’s biggest companies
Womack stands tall as a symbol of progress in an era of transformative change and increased focus on representation.
Africa’s largest telecom group CEO Ralph Mupita gains $1 million from MTN stake
The surge in the market value of Mupita’s minority 0.043-percent stake in MTN Group can be attributed to renewed investor interest.
African-American tech billionaire Alex Karp’s net worth nears $2 billion amid Palantir stock surge
Karp is the co-founder of Palantir Technologies, a U.S. firm that specializes in big data analytics.
Johann Rupert remains Africa’s richest man, despite $900-million decrease in net worth
The decline in Rupert’s net worth can be attributed to the reduction in the market value of his 9.14-percent stake in Richemont.
Firm tied to Mauritian Lagesse family poised to become majority shareholder in Naivas, Kenya’s largest retailer
Mambo Retail is an investment vehicle linked to IBL Group, a prominent Mauritius conglomerate led by Mauritian tycoon Arnaud Lagesse.
Aliko Dangote’s Dangote Cement unveils $65.8 million share buyback
Dangote Cement, with a production capacity of 51.55 mtpa spread across ten countries, aims to enhance shareholder value through the buyback program.
Kenya’s wealthy Mukuha family eyes $41.7-million deal valuing Naivas at $379 million
Once the deal is finalized, it will mark the third time the super-rich Mukuha family has divested part of their stake in Naivas.
Egypt’s richest man Nassef Sawiris gains $260 million in 29 days, as Adidas shares surge
The resurgence in Sawiris’ wealth can be primarily attributed to the impressive performance of his holdings in Adidas.
5 companies owned by South African billionaire Christo Wiese
These stakes contribute to Wiese’s expanding wealth and reinforce his position as one of Africa’s most influential business figures.
Egyptian magnate Waleed Zaki’s Pioneers Properties sells $7.6 million in shares in historic Egyptian real estate firm
Pioneers Properties has reduced its stake in United Company for Housing and Development from 35.06 percent to 17.74 percent.
CEO of Africa’s biggest company sees remuneration slump to $5.9 million in 2023
Bob van Dijk, who has held the position of CEO since 2014, is renowned as one of the highest-paid executives on the continent.
Africa’s first Black billionaire donates $320,000 to resolve South Africa Women’s World Cup team pay dispute
Motsepe, who made history in 2008 as the first Black African billionaire, derives the majority of his wealth from his stake in ARM.
The Richest Five: Meet the five African billionaires with a net worth of more than $5 billion
Six African billionaires boasted a net worth of over $5 billion at the start of 2023. However, only five individuals currently maintain this status.
Africa’s richest list reshuffled amid devaluations: Nigerian billionaires suffer, South African billionaires thrive
While South African billionaires enjoyed substantial gains from their well-diversified portfolios, their Nigerian counterparts bore the brunt of devaluations.