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.
Southern Africa
Shoprite backed by South African billionaire Christo Wiese takes lead on climate, water issues in retail
Shoprite, boasting more than 2,900 stores across Africa, is partly owned by South African billionaire Christo Wiese, who holds an 11.63-percent stake in the retailer.
South African exec Anthony Leeming-led Sun International to invest $28.3 million in Sun City
Sun International CEO Anthony Leeming affirmed that the capital expenditure will be funded from the group’s cash flows
South African tech mogul Zak Calisto’s Karooooo stake soars to $605 million
Calisto’s stake has increased by $25.49 million from $579.68 million on March 15 to $605.17 million at the time of drafting this report.
South African-born billionaire Patrick Soon-Shiong’s wealth surges above $11 billion
The surge in Soon-Shiong’s net worth in 2024 highlights the success of his investments, particularly in biotech firm ImmunityBio.
South African mogul Adrian Gore’s Discovery reports $172.4 million in half-year earnings
The group’s interim results for the first half of the 2024 fiscal year showcase a headline earnings figure amounting to $172.4 million.
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.
South African tycoon Giovanni Ravazzotti loses $39.6 million from Italtile stake
Despite this financial setback, Ravazzotti retains his status as one of the high-value investors on the JSE and one of the country’s most affluent individuals.
South Africa’s richest man Johann Rupert’s Remgro posts $1.3-billion half-year revenue
Ranked as Africa’s second-richest man and South Africa’s wealthiest individual, Rupert maintains significant control over Remgro Limited.
Exxaro earnings fall below $600 million under South African executive Nombasa Tsengwa
Commenting on the financial results, Tsengwa expressed confidence in the company’s ability to create value despite the challenges faced during the fiscal year.
FirstRand shares plunge, costing South African businessman Johan Burger $1.47 million
Burger, a former CEO and non-executive director at FirstRand, holds a 0.11-percent stake equivalent to 6,000,000 ordinary shares in the financial services giant.
South Africa’s job crisis worsens as CEO Shameel Joosub leads Vodacom to cut 80 jobs
The decision to cut approximately 80 jobs has drawn criticism from organizations such as the Congress of South African Trade Unions (COSATU).
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.
South African businessman Barry Swartzberg’s investment in Discovery drops by $12 million
Despite the recent setback in Swartzberg’s holdings, he retains his position as one of South Africa’s wealthiest businessmen
Sim Tshabalala projects Standard Bank’s sustainable financing to top $15.6 billion by 2026
With Tshabalala at the helm, Standard Bank continues to achieve significant milestones, connecting African markets with global economies while delivering strong returns to shareholders.
South African tycoon Jonathan Jawno gains $7.7 million from Transaction Capital stake
Jawno, a founding member of Transaction Capital, holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares.