Elon Musk is a billionaire like everyone else again as fortune drops below $900 billion
Elon Musk's net worth has fallen below $900 billion as SpaceX shares slide toward their IPO price, wiping more than $500 billion since June.
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.
Billionaire Robert F. Smith's Vista Equity bids to take French ad tech firm Criteo private
Vista Equity Partners, led by billionaire Robert F. Smith, has bid to take French ad tech firm Criteo private at a premium of over 50%.
Tunisia's Poulina Group posts $67 million profit for 2025 on financial gains
Tunisia's Poulina Group lifted 2025 net income 26.4% to about $67 million, though financial gains, not its industrial core, drove most of the rise.
Tanzanian billionaire Mohammed Dewji to invest $275 million in graphite mining and luxury tourism
Tanzanian billionaire Mohammed Dewji is investing about $275 million in graphite mining and luxury tourism, part of a plan to triple MeTL Group revenue by 2035.
Tanzania's richest man eyes $100 million stake in Dangote's planned Kenya oil refinery
Tanzanian billionaire Mohammed Dewji says he is willing to invest $100 million in Aliko Dangote's proposed oil refinery in Kenya.
The billionaire who built Nigeria's gas pipelines: inside Emeka Okwuosa's Oilserv empire
How engineer Emeka Okwuosa built Oilserv into one of Nigeria's largest indigenous oil-and-gas contractors, laying the pipelines that carry the country's gas.
Africa's richest man pledges $2 billion for solar power and fuel storage in The Gambia
Aliko Dangote has pledged $2 billion to build a 250-megawatt solar plant and a fuel storage terminal in The Gambia, President Barrow said.
Billionaire Patrice Motsepe's African Rainbow Capital wins South African ruling in $195 million graphite fight
Patrice Motsepe's African Rainbow Capital says a Johannesburg court cleared it of contract claims in a $195 million Tanzanian graphite dispute.
Billionaire Patrice Motsepe plays down ANC presidency run as polls put him ahead
Patrice Motsepe played down running for ANC president, saying his contribution is best made outside politics, even as polls show him leading.
Nigerian businessman Wale Tinubu's Oando swings back to profit as production jumps 32%
Wale Tinubu's Oando swung to a 204.8 billion naira profit for 2025 as production rose 32%, and the company targets higher output in 2026.
Indian billionaire Raj Gupta's African Industries gets 500 hectares to build Nigeria's largest solar-powered steel plant
Niger State handed Raj Gupta's African Industries 500 hectares to build what it calls sub-Saharan Africa's largest solar-powered steel plant.
South African billionaire Robert Gumede plans to turn Tongaat sugar into power and fuel
The billionaire told Semafor he will turn Tongaat Hulett's sugarcane into electricity, ethanol and gases to save the rescued South African producer.
Heineken posts $1.9 million bank guarantee to freeze interest owed to Kenyan tycoon Ngugi Kiuna
The Dutch brewer secured a $1.9 million Equity Bank guarantee, halting disputed interest on the $11.3 million award owed to Ngugi Kiuna's Maxam.
Nigerian billionaire Femi Otedola recalls N200 million donation to father's scholarship
Femi Otedola has recalled his 2005 N200 million donation to his late father Sir Michael Otedola's scholarship scheme, when the award ceremony was chaired by then Lagos Governor Bola Tinubu.
Black billionaire Magic Johnson's LAFC sells Grasshopper stake as Euro bet fails
Magic Johnson's LAFC has sold its minority stake in Switzerland's Grasshopper Club Zurich after the historic Swiss club struggled on and off the pitch under American co-ownership.
Elon Musk denies WSJ report SpaceX showed investors secret AI device
Elon Musk has called a Wall Street Journal report that SpaceX showed investors a prototype AI device before its IPO utterly false in a post on X.