U.S. billionaire John Arnold warns sports betting is destroying young men
Billionaire John Arnold says sports prediction markets are designed to keep young men engaged in ways that lead to debt, addiction and mental health breakdowns.
Investor Memo: The Hormuz Dividend — How the Iran War Is Repricing Every African Upstream Asset in Real Time
Four major African upstream transactions in two weeks — Oando raising $750 million, NNPC doubling Dangote's crude supply, Seplat making NGX history at N10,000, and Petrobras entering the Gulf of Guinea through Arthur Eze's Oranto — all driven by a single cause: the Iran war has repriced African oil.
African Wealth Briefing — Mon., April 20, 2026
Nassef Sawiris quietly lifts his Orascom Construction stake to 43.39 percent, Hassan Allam acquires Metito's engineering arm to build an Africa-wide water infrastructure platform, and GCB Bank's dividend hands Daniel Ofori a $1.66 million payout.
Egypt's richest man Nassef Sawiris lifts Orascom Construction stake to 43.39%
Nassef Sawiris has increased his total stake in Orascom Construction to 43.39% after his NNS City family office acquired approximately 1.13 million additional shares in the company.
African Wealth Briefing — Sun., April 19, 2026
Rupert's Richemont bails out Delvaux with a €100.6 million debt-to-equity conversion, Hiridjee's AXIAN Telecom crosses $1.69 billion in revenue, Gary Lubner eyes a $1 billion Belron IPO windfall, and a Kenyan Senate probe names Mohamed Jaffer in an alleged fuel crisis scheme.
Kenyan billionaire Mohamed Jaffer allegedly manufactured a national petroleum crisis to pocket millions of dollars
Kenyan Senate investigation has named Mombasa tycoon Mohamed Jaffer and 2 state officials in an alleged scheme to manufacture the country's worst fuel crisis in 3 years.
Algerian tycoon Mahieddine Tahkout faces fresh corruption allegations over billions in diverted funds and international money laundering
Algerian businessman Mahieddine Tahkout faces fresh corruption allegations over diverted funds and international money laundering in a widening legal case.
South African-born tycoon Gary Lubner eyes $1 billion windfall in glass repair giant Belron IPO
South African-born Gary Lubner, former Belron chief executive and major Labour donor, stands to pocket close to $1 billion if the Autoglass parent lists in Amsterdam.
African Wealth Briefing — Sat., April 18, 2026
Arthur Eze's Oranto sells 75 percent of São Tomé Block 3 to Petrobras, Glencore and Motsepe's ARM overturn a SARS diesel refund ruling, and Dangote commits N500 billion to close Nigeria's 1.2 million-tonne sugar import gap.
Tycoon Bassim Haidar's Optasia suspends airtime credit services in Nigeria as regulators bite
JSE-listed fintech Optasia has suspended airtime credit services in Nigeria after new FCCPC digital lending regulations disrupted telecom-linked credit products across the market.
Malagasy billionaire Hassanein Hiridjee's AXIAN Telecom revenue hits $1.69 billion in 2025 results
AXIAN Telecom posted full-year 2025 revenue of $1.69 billion, up 20.2%, as acquisitions and mobile data growth accelerated across its African markets.
Johann Rupert's Richemont converts €100 million debt to equity to prop up Belgian handbag maker Delvaux
Johann Rupert's Richemont has converted €100.6 million of debt into equity at Delvaux, the world's oldest luxury leather goods house, as the Belgian brand's Asian revenue slump drives accumulated losses toward €80 million.
Nigerian billionaire Arthur Eze's Oranto sells 75% stake in São Tomé Block 3 to Petrobras
Brazil's Petrobras has agreed to acquire a 75% operating interest in Block 3 offshore São Tomé and Príncipe from Arthur Eze's Oranto Petroleum, its latest move in a fast-expanding African exploration portfolio.
African Wealth Briefing — Fri., April 17, 2026
Forbes counts 27 Black billionaires worth $121 billion combined and we profile the five youngest.
Australian mining billionaire Andrew Forrest battles Meta in court over fake ads
Andrew Forrest is pushing a US federal court to strip Meta of its legal immunity over fake cryptocurrency ads that used his likeness, alleging the tech giant destroyed nearly 30,000 pieces of key evidence.
Egyptian billionaire Naguib Sawiris is betting billions on UAE property in spite of the Iran war
Egyptian billionaire Naguib Sawiris has expanded his Ghantoot Bayn development to $8.17 billion and called the Iran war a temporary pause in the UAE property market's upward trajectory.