South African billionaire Ivan Glasenberg suffers $389-million loss in first weeks of 2024
Glasenberg’s wealth is derived from his 9.81-percent stake in Glencore, a Swiss multinational commodity trading and mining company.
Featured
Why African billionaires are banking in Belize: Luigi Wewege, president of Caye International Bank
Wewege explains to Billionaires.Africa the reasons why wealthy Africans are flocking to bank in the Central American country.
Kenyan tycoon Kiprop ‘Buzeki’ Bundotich forced to lay off 300 staff amid soaring fuel prices
Buzeki cited the adverse effects of high fuel prices, exacerbated by the government’s decision to eliminate fuel subsidies during Kenyan President William Ruto’s administration.
This Week In Review: A Snapshot of African Wealth Dynamics — Soon-Shiong Loses $520 Million in First Week of 2024, Adebutu’s Wema Bank Stake Rises by $7.2 Million (Jan. 8 to 12)
Discover how strategic deals and market trends are reshaping the continent’s economic landscape.
Blackrock acquires Nigerian billionaire Adebayo Ogunlesi’s GIP for $12.5 billion
Under the leadership of Ogunlesi, GIP has flourished into the world’s largest independent infrastructure manager.
Nigerian billionaire Femi Otedola reclaims spot on Forbes rich list with $1.2-billion fortune
This is the third time in the last 15 years that Otedola is being listed as one of the world’s richest people.
Eswatini’s richest man Natie Kirsh suffers $55-million loss since start of 2024
Kirsh’s net worth has decreased by $55.4 million since the start of 2024 — falling from $7.61 billion on Jan. 1 to $7.56 billion at the time of writing.
Late Senegalese tycoon Pathe Dione’s legacy thrives as Sunu Group expands with stake in Africa Golden Bank
Under Dione’s leadership, Sunu Group expanded its operations to 17 African countries, boasting a workforce of over 4,100 employees.
Cameroon’s richest man ventures into maritime transport with new company
Baba Ahmadou Danpullo’s foray into maritime transport is expected to shape the industry landscape.
Egyptian tycoon Hani Berzi rakes in $13.7 million in eight days from Edita stake
Berzi — who founded the consumer goods conglomerate in 1996 and serves as chairman and managing director — owns a significant 41.95-percent stake in Edita.
South African-born billionaire Patrick Soon-Shiong loses $520 million in first week of 2024
Soon-Shiong’s net worth plunged by $520 million in the first week of 2023 declining from $10.5 billion on Jan. 1 to $9.98 billion.
Nigerian gambling magnate Kessington Adebutu gains $7.2 million in first week of 2024
In the first week of 2024, Wema Bank shares on the NGX rose by 33 percent from N5.55 ($0.006) to N7.38 ($0.008).
Burkina Faso’s richest man opens high-tech medical center in Ouagadougou
The facility aims to address the shortage of medical-technical facilities within Burkina Faso, evident during the challenges posed by the COVID-19 pandemic.
Zimbabwean businessman John Moxon made nearly $100 million in 2023
Moxon, who played a pivotal role in transforming Meikles Limited into one of Zimbabwe’s leading conglomerates, owns a 10.8-percent stake in the group.
Nigerian billionaire Aliko Dangote gains over $100 million in first week of 2024
The surge is credited to the robust performance of his diversified investment portfolio on the Nigerian Exchange (NGX).
5 businesses owned by Trevor Noah
Delve into the world of Noah, where comedy meets business acumen.