South African tycoon Adrian Gore’s Discovery stake surges $22.1 million
This follows a $14 million loss recorded between April 30 and May 14, when his stake dropped from R10.49 billion ($571.56 million) to R10.24 billion ($557.54 million).
South African tycoon Stephen Brookes’ property firm secures land for $108 million KZN estate
Stephen Brookes, a South African real estate magnate, remains the company’s largest shareholder, holding a 36.08 percent stake.
South African billionaire Stephen Saad loses $28 million in one week
This follows a gain of $32.2 million recorded between April 23 and May 1, when his stake increased from $654.18 million to $686.41 million.
South African executive Gary Nagle-led Glencore to pay Nigeria $50-million ‘settlement’ penalty
Glencore’s legal troubles are wide-ranging. In May 2022, the company settled investigations in the U.S., U.K., and Brazil for $1.5 billion, with $1.06 billion going to U.S. and Brazilian authorities.
Egypt’s richest man Nassef Sawiris’ net worth tops $9 billion
Year-to-date, Sawiris’ wealth has increased by $667 million, driven by the performance of his stakes in Dutch fertilizer giant OCI N.V. and German sportswear giant Adidas.
South African tycoon Giovanni Ravazzotti makes $9 million from Italtile stake
The recent rise in Italtile’s share price strengthens Giovanni Ravazzotti’s position as a major investor on the JSE.
Equity Group led by Kenyan banker James Mwangi cuts debt by $191 million amid high interest rates
James Mwangi, a prominent figure in Kenyan finance, holds a 3.38-percent stake in Equity Group, representing 127,809,180 ordinary shares.
Black businesswoman Fawn Weaver’s Uncle Nearest acquires organic spirits company
This acquisition underscores CEO Fawn Weaver’s vision of establishing a diverse spirits conglomerate,
Africa’s richest man Aliko Dangote’s sugar firm to raise $69.56 million via commercial paper
With banks offering limited options, companies like Dangote Sugar are turning to the fixed-income market for alternative financing.
Nigerian tycoon Temitope Lawani-linked Vivo Energy completes acquisition of Engen from Petrona
The merger of Vivo Energy and Engen marks a significant development in the African energy sector.
Kenya’s richest banker James Mwangi’s stake in Equity Group soars past $45 million
This surge cements James Mwangi’s position as a top investor on the NSE and underscores his status as one of Kenya’s wealthiest individuals.
South Africa’s Ackerman family makes $11 million from Pick ‘n Pay stake
The recent increase follows a significant gain of $18.5 million between March 15 and April 9, when their stake in the retailer surged to $131.50 million.
South African media mogul Terrence Moolman boosts fortune by $5.61 million
As Caxton’s CEO and co-founder, Moolman holds a 51.84-percent stake in the company, equivalent to 186,262,725 shares.
South African billionaire Ivan Glasenberg’s net worth jumps $640 million
The recent surge in Glasenberg’s fortune translates to an average daily gain of $37.6 million since May 1.
Black executive Kenneth Frazier gains $4 million from Merck stake in 29 days
Frazier, who ranks as one of America’s top Black executives, holds a minority stake of 0.028-percent stake in Merck & Co. with a present value of $92.30 million.
Top Black CEO Marvin Ellison gains $1.2 million from Lowe’s shares in 15 days
This recent upswing comes on the heels of a previous downturn in Ellison’s wealth between April 1 and 19, during which his stake in Lowe’s decreased by $4.61 million.