Billionaire Michael Lee-Chin-linked fund faces stunning $7-million loss
Lee-Chin is the founder of Portland Private Equity, the private equity fund company in charge of Portland JSX Limited.
Tanzania
Kanye West’s Yeezy sneakers return for second sale amid high demand
In May, Adidas announced its decision to sell off the inventory of Yeezy sneakers created in partnership with West.
Tanzanian gold magnate Ketan Patel suffers $2.3-million loss as Shanta Gold shares retreat
Patel, the founder of the Tanzania-based mining company, presently holds a 4.22-percent stake in Shanta Gold, or 44,274,017 ordinary shares.
Adidas claims Kanye West squandered $75 million intended for Yeezy collection marketing
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
America’s second-richest Black man David Steward’s wealth soars above $6 billion
Steward’s fortune has skyrocketed by more than $1.1 billion recently, rising from $4.87 billion on May 9 to $6 billion.
SpaceX, led by world’s richest man Elon Musk, launches satellite Internet service in Kenya
Starlink officially launched in Africa in 2022, with Musk claiming that the satellite Internet service provider will operate anywhere on Earth where it is legally permitted.
Top Black CEO Marvin Ellison rakes in almost $7 million from Lowe’s shares
Ellison’s minority 0.038-percent stake in Lowe’s translates to a total of 224,800 shares.
Meet Calvin Butler, Jr., one of the newest Black executives leading America’s biggest companies
As corporate America embraces change and inclusivity, Calvin Butler, Jr. stands at the forefront, leading with purpose and vision.
Jay-Z’s foundation raises $20 million to help socioeconomically disadvantaged individuals
Through the dedication of Jay-Z and Gloria Carter, the foundation’s legacy shines as a beacon of hope and opportunity for countless young minds.
Mauritian businesswoman Stephanie Ha Chow’s ABC Banking Corp stake is worth $5.1 million
Ha Chow holds a 14.59-percent stake in ABC Banking Corp., making her the second-largest shareholder in the Port Louis-based financial services provider.
Angola’s AG fails to persuade interpol for Isabel dos Santos’ extradition
Dos Santos has faced corruption charges for years, including allegations that she embezzled nearly $1 billion.
7 companies owned by Tanzania’s first billionaire Rostam Aziz
Aziz, made history in 2013 when Forbes recognized him as the first Tanzanian to achieve a billion-dollar fortune.
Dar es Salaam-based tycoon Hans Macha loses over $1 million in 84 days
Macha, ranked as one of the richest investors on the local bourse, owns 1.9 percent of CRDB Bank, equivalent to 32,764,200 shares.
Sean ‘Diddy’ Combs unveils innovative e-commerce platform to empower Black entrepreneurs
Combs expressed his mission to empower Black entrepreneurs by providing them with the necessary resources to build successful businesses.
Botswana-based mogul Jonathan Gibson gains over $5 million from stake in Chobe Holdings
Gibson’s stake in Chobe Holdings has increased by $5.23 million since the start of the year, solidifying his position as one of Botswana’s richest investors.
DRC unit of James Mwangi-led Equity Group secures $11 million from Proparco
Equity Group is a leading East and Central Africa financial services conglomerate.