Billionaire Gina Rinehart has bought a bigger stake than her estranged son in his own company
Hancock Prospecting is paying A$8.77 million for 13.5% of White Cliff Minerals, the copper explorer John Hancock founded and still sits on.
Dorcas Adeodun
News Reporter
Dorcas Adeodun is a journalist covering finance, public policy, and economic development. She has more than five years of reporting experience and has worked across business reporting and institutional analysis.
Indian billionaire Mukesh Ambani is selling 2.5% of Jio in India's biggest share sale
Jio Platforms starts investor meetings this month across five markets, ahead of a November listing that bankers have valued at up to $180 billion.
Billionaire Michael Dell lost $15.1bn in a morning as AI stocks sold off
Michael Dell's fortune fell $15.1 billion in a single morning as AI-linked stocks sold off worldwide. The cause was not Dell's business but a call from three AI chief executives for coordinated safety work, which investors took as a warning on future spending.
Adaora Umeoji's Zenith Bank stake is now worth $27 million
Adaora Umeoji holds 285,096,933 Zenith Bank shares, worth N35.89 billion at Monday's close, the largest stake held by any Nigerian bank chief.
Billionaire Aliko Dangote says he did not need the $1.5 billion he is raising
Dangote's refinery raised its private placement at two and a half times cover and handed back about $1.2 billion. The IPO that opened in Lagos on Monday is not about the money, Aliko Dangote said, but about who gets to own the asset.
Nigerian-Lebanese tycoon Bassim Haidar's Optasia is pivoting from airtime to electricity
Optasia is moving into electricity advances and credit card-style loans, months after founder Bassim Haidar cut his stake from 19.3% to 1.5%.
Aliko Dangote is worth $51.3 billion, more than twice Nigeria's other billionaires combined
Forbes puts Aliko Dangote at $51.3 billion on Sept. 14, against $21.1 billion for Abdulsamad Rabiu, Mike Adenuga and Femi Otedola combined.
South African billionaire Stephen Saad's DNI to spend $130 million buying telecoms assets
DN Invest, whose owners include Aspen Pharmacare's Stephen Saad, will spend $130 million buying into four technology companies as it targets doubling a group already generating $744 million in annual revenue.
Billionaire Sarath Ratanavadi has added $4.6bn this year selling electricity
Sarath Ratanavadi's fortune has climbed $4.6 billion this year to $16.4 billion. Gulf Development is reviving a shelved 6,000 MW gas project in Vietnam and targeting 2,000 MW of data centre capacity as AI lifts electricity demand.
Billionaire Bernard Arnault has lost $65bn this year, more than anyone
Bernard Arnault's fortune has fallen by $65 billion since January, the steepest decline among the world's 500 wealthiest. LVMH shares trade at less than half their 2023 level, and for the first time since 2012 every one of the ten richest people is American.
France asks the EU to lift sanctions on Russian billionaire Alisher Usmanov
France has joined Slovakia in asking the EU to remove Alisher Usmanov from its sanctions list, days before the measures expire on Sept. 15.
Second crypto billionaire donates $49 million to Reform UK
Thailand-based investor Christopher Harborne gave Reform UK $48.7 million, matching a donation from fellow billionaire Ben Delo a day earlier.
Billionaire LeBron James meets Angola's business leaders on his first visit to Africa
LeBron James arrived in Luanda on Friday at the invitation of Angola's tourism ministry, and races his E1 electric boat team there on Sunday.
The $100 Million Investor Club on the Nigerian Exchange: All 17 Members and What They Own
Seventeen investors held Nigerian Stock Exchange shares worth at least $100 million at Friday's close. Here is every stake they own and what each is worth.
Nigerian tycoon Uche Ogah quit banking to build an empire selling petrol, noodles and tricycles
Uche Ogah registered Masters Energy while still a Zenith Bank manager. It now runs 50 filling stations, two depots and a 198-hectare estate.
South African billionaire Johann Rupert's Remgro expects earnings to rise as much as 47%
Remgro, chaired by South Africa's Johann Rupert, expects headline earnings per share to rise between 37% and 47% for the year to June.