Beyoncé’s net worth falls below $800 million, losing $40 million
Beyoncé’s music career, spanning nearly three decades as a solo artist and with Destiny’s Child, has been the cornerstone of her financial empire.
Firm backed by South Africa’s second-richest man prepares third fund for African tech startups
4DI Capital backed by South Africa’s second-richest man Nicky Oppenheimer has established itself as a prominent venture capital player in Southern and Eastern Africa.
Jay-Z’s entertainment company announces $300 million scholarship fund
This ambitious program was unveiled on June 7 and targets children from Kindergarten through Grade 12
Egyptian billionaire Samih Sawiris’ tourism company in Europe files for bankruptcy
FTI has set up a hotline and website to assist customers, announcing that all trips starting June 4 will either be canceled or partially fulfilled.
Absa led by South Africa executive Arrie Rautenbach seals deal with French giant Renault
The collaboration introduces Renault Financial Services, a new financing and services platform designed for Renault customers.
Firm linked to Namibian tycoon Quinton van Rooyen confirms $763-million diamond resource
This revelation follows Trustco’s divestiture of a 70-percent stake in the Meya Mining diamond mine to Sterling Global Trading last year, retaining a 19.5-percent interest.
Revolt unveils new ownership after Sean ‘Diddy’ Combs sells his shares
Diddy divested his stake in March amid ongoing federal investigations and sexual abuse allegations against him.
Rihanna expands beauty empire with launch of Fenty Hair, targeting $107 billion market
The recent announcement follows Rihanna’s recent visit to Shanghai to promote the April launch of Fenty Beauty in mainland China
South African tycoon Tshepo Mahloele’s Capitec stake declines by $31 million in 48 hours
This follows a $24.84 million loss between May 10 and 28, when his stake declined from R19.3 billion ($1.05 billion) to R18.84 billion ($1.03 billion).
Bank led by Nigerian billionaire Femi Otedola recovers $305-million loan from failed bank
Sources within First Bank confirmed that the CBN credited the lender before revoking Heritage Bank’s license.
French billionaire’s firm makes mandatory bid for DSTV parent, MultiChoice in $2.9-billion deal
The tender offer will conclude on April 25, 2025, with regulatory results expected on April 29, 2025, as outlined in a combined circular released earlier this week.
South African billionaire Michiel Le Roux’s Capitec Bank eyes international markets
This ambitious move follows its acquisition of Avafin, a Cyprus-based online lender with operations across Europe and Latin America.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake falls below $1.1 billion
This follows a $59.19 million gain between May 15 and 23, when the market value of his shares climbed from EGP51.4 billion ($1.1 billion) to EGP54.1 billion ($1.16 billion).
Nigerian oil mogul Dumo Lulu-Briggs seeks $1 billion to boost country’s oil output
This ambitious plan relies on bringing three marginal fields online within the next year. Lulu-Briggs unveiled the strategy at the recent Offshore Technology Conference (OTC) in Houston.
South African billionaire Michiel Le Roux’s Capitec Bank stake drops below $1.5 billion
Michiel Le Roux, who owns 11.39 percent of Capitec Bank, or 13,190,043 shares, has seen the value of his stake decrease from $1.6 billion on May 20 to $1.49 billion.