SpaceX proxy fund investors want out before the June 12 IPO but may be trapped
Investors who rushed into SpaceX proxy funds want out as the June 12 IPO nears, but many face liquidity constraints that could leave them stuck until SPCX begins trading.
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.
South African tycoon Sandile Zungu's Sizekhaya Holdings wins $4.9 billion national lottery contract
Sandile Zungu's Sizekhaya takes over South Africa's national lottery on June 2 but faces a court challenge from Ithuba, which says the R80bn contract was awarded unlawfully.
Billionaire Robert F. Smith says $3 trillion is pouring into AI infrastructure and Vista is positioned to capture the next wave
Robert F. Smith told the XCEL Summit For Men that up to $3 trillion is being poured into AI infrastructure and that Vista Equity's private software portfolio is positioned to capture the next wave of returns.
Billionaire Jay-Z says Tony Buzbee invented a death threat to make his accuser drop her lawsuit
Jay-Z's amended SDNY complaint accuses Tony Buzbee of fabricating a death threat against Jane Doe to pressure her into dropping her lawsuit while concealing his unauthorized federal court practice.
South Africa's Craig Warriner ran a Ponzi scheme for a decade and drove a Ferrari while it lasted
Craig Warriner defrauded over 800 South African investors of at least R1.64 billion through his BHI Trust over a decade, posing as an expert day trader while living lavishly on his clients' money.
Johann Rupert tripled Richemont's earnings in five years, but the stock is down 9%. Analysts say that is the opportunity
Johann Rupert's Richemont has tripled its earnings over five years and posted 11% sales growth in fiscal 2026, yet its Zurich-listed shares are down 9%, creating what analysts are calling a rare entry point.
FirstHoldCo shareholders vote today on billionaire Femi Otedola's $725 million capital plan for First Bank
FirstHoldCo shareholders gather today for their 14th AGM to vote on raising N253 billion ($183.4 million) in fresh capital toward a N1 trillion ($724.6 million) paid-up base championed by Femi Otedola.
Kevin Hart's VitaHustle raises fresh capital from Black-owned private equity firm Axum Capital
Charlotte-based private equity firm Axum Capital Partners has made a growth equity investment in VitaHustle, the plant-based nutrition brand co-founded by Kevin Hart and his trainer Ron Everline.
Elon Musk was paid $132.3 billion in 2025. The typical S&P 500 CEO got $17.7 million. The gap is breathtaking
Elon Musk received a $132.3 billion Tesla stock award in 2025, dwarfing the next-largest package by a factor of 160, as average S&P 500 CEO compensation rose 6% to $17.7 million while median worker pay reached $89,744.
Mr Eazi's Choplife Gaming wins Mali betting licence and takes betPawa to its 10th African market
Choplife Gaming, chaired by Nigerian musician Mr Eazi, secured PMU Mali approval to launch betPawa in Mali, taking its licensed African footprint to 10 markets.
Angola stripped Isabel dos Santos of a $2 billion empire. She now posts poolside videos from Dubai
Courts across Angola, Portugal, the UK and the US have frozen billions in assets belonging to Isabel dos Santos, who lives in Dubai and has never been convicted of a crime.
South Africa's Investec wants to double its private banking clients by 2030 by targeting earners below the ultra-wealthy
Investec plans to double its South African private banking client base from 128,000 to 250,000 by 2030 by moving aggressively into the affluent market below the ultra-wealthy.
South African billionaire Johann Rupert holds $16 billion in wealth and most of it is not in Cartier
Johann Rupert's $16.1 billion fortune spans luxury goods, South African industrial conglomerates and technology investments, with Reinet Investments reporting a net asset value of R127 billion by March 2026.
Aliko Dangote's sugar company just opened a $300 million rights issue. The naira almost killed it first
Dangote Sugar Refinery has opened a N485.9 billion ($300 million) rights issue at N60 per share, offering two new shares for every three held, in a bid to slash debt and revive its Sugar for Nigeria backward integration programme.
President of AfDB, Sidi Ould Tah, says Africa is not poor. It just has $4 trillion sitting in the wrong places
AfDB president Sidi Ould Tah has opened the bank's 61st annual meeting in Brazzaville by unveiling a plan to mobilize Africa's $4 trillion in pension and sovereign wealth funds to close a $400 billion annual development financing gap.
Kanye West's Tampa comeback drew over 1 million ticket queue entries as Bully tour demand defies European bans
Over 1 million fans entered the virtual ticket queue for Kanye West's June 26 Raymond James Stadium concert in Tampa, his first Florida show in a decade amid surging US demand for his Bully tour.