Sawiris predominantly holds his wealth in cash and closely held assets.
Billionaires
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While some Black billionaires have not fared well since the start of the year, others have built on their fortunes.
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Despite recent wealth decline, Adenuga’s net worth is up $500 million YTD.
- Hot News
5 South African billionaires at risk of losing millions of dollars as rand depreciates against U.S. dollar
The depreciation of the rand could potentially threaten the net worth of South African billionaires and millionaires.
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Sawiris derives the majority of his wealth from his six-percent stake in Adidas and 38.8-percent stake in OCI N.V.
- Hot News
South African billionaire Patrice Motsepe donates $1.64 million to assist students struggling with debt
Motsepe is a prominent figure in Africa, renowned as both a top philanthropist and a billionaire.
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They have gained $3.052 billion in net worth since the start of the year.
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Musk’s Starlink provides global high-speed, low-latency broadband Internet.
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These billionaires hold 6.1 percent of the country’s total private wealth.
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Bacardi has agreed to buy out the majority of Jay-Z’s 50-percent stake in D’Usse.