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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
A day of symbolism and scale. Aliko Dangote made the 2026 TIME100 list for the second time — and in one of the more neatly symmetrical moments in African business this year, his profile was written by Tony Elumelu, reversing the roles from 2020 when Dangote wrote Elumelu's tribute for the same list. Dangote's net worth stood at $32.7 billion on April 13 per the Bloomberg Billionaires Index, ranking him 64th in the world and the wealthiest Black individual on the planet.
The Seplat story is the earnings story of the week. Seplat Energy closed at N10,450 on April 14, becoming the first stock in the history of the Nigerian Exchange to breach N10,000 per share after a 9.42 percent single-session surge. The rally was triggered by FTSE Russell's April 7 reclassification of Nigeria from "unclassified" to Frontier Market status, effective September 2026 — a move Cordros Research expects to draw $840 million to $1.04 billion in portfolio inflows. Elumelu's Heirs Energies stake (acquired for $496 million in December) is up significantly, and the four major shareholders — Elumelu, Dossou-Aworet, Avuru and Orjiako — now hold combined Seplat positions worth approximately $2.1 billion.
Elsewhere, Patrice Motsepe's African Rainbow Capital won a Gauteng High Court ruling dismissing a $195 million suit brought by U.S. firm Pula Group; Dangote formally unveiled a $100 billion revenue target by 2030, backed by $40 billion of planned investment in gas, mining and data centres; Koos Bekker's Naspers declared its AI transformation complete with the Toqan platform rolling out to 5 million Prosus partners; and Nassef Sawiris's Aston Villa posted a record £113.6 million profit — mostly from asset sales to the owners' own holding company — triggering a Premier League review.
Top Stories
Dangote makes TIME100 for the 2nd time as Tony Elumelu writes the tribute Dangote's first TIME100 appearance was in 2014. He wrote Elumelu's profile in 2020. Now Elumelu writes his. The 2026 TIME100 Summit is April 22 in New York. Dangote appears alongside Sundar Pichai, Michael Dell, Dario and Daniela Amodei, and Gwynne Shotwell.
Seplat becomes first NGX stock to breach N10,000 — Elumelu, Avuru, Dossou-Aworet, Orjiako combined $2.1 billion Seplat is up almost 80 percent year-to-date. Dossou-Aworet's 13.87 percent stake is worth approximately $587.8 million. Orjiako's 6.43 percent is worth $274.6 million. FTSE Russell's Frontier Market upgrade is expected to drive $840 million to $1.04 billion in inflows.
Motsepe's ARC wins Gauteng ruling in $195 million Tanzania graphite lawsuit The Gauteng High Court ruled that African Rainbow Capital cannot be sued for $195 million by US firm Pula Group over an alleged NDA breach tied to a Tanzanian graphite project. The court called the claim unenforceable on jurisdictional grounds.
Dangote targets $100 billion in revenue by 2030 — $40 billion into gas, mining and data centres The plan extends well beyond refining and cement. Gas, critical minerals and data infrastructure are the three pillars that take Dangote Group from today's scale to $100 billion in annual revenue within four years.
Tech & Media
Naspers declares AI transformation complete as Toqan rolls out to 5 million Prosus partners Koos Bekker's group is now operating as an AI-first platform. The Toqan rollout to 5 million partners across the Prosus ecosystem is the clearest operational signal of that shift.
Sports
Sawiris's Aston Villa posts record £113.6 million profit — Premier League review triggered Most of the profit came from asset sales to the owners' own holding company. The structure has triggered a Premier League review of related-party transactions.
This week's Wealth Intelligence brief is available for Elite subscribers:
→ Wealth Intelligence: Rabiu — The Best Quarter in Nigerian Industrial History
