Nigerian billionaire Aliko Dangote's refinery stake could be worth $55 billion
Renaissance Capital now values Africa's biggest refinery at ₦700.41 a share, which would make Aliko Dangote's stake worth about $55 billion.
How Nigerian billionaire Tunde Folawiyo's firm got into Paystack and Flutterwave early
Nigerian billionaire Tunde Folawiyo chairs Pave Investments, which backed Paystack and Flutterwave when they were worth a few million dollars and exited both.
Nigerian billionaire Aliko Dangote’s foundation and Gombe State to give 28,284 women refinery shares
Gombe State released ₦149.2 million to buy Dangote refinery shares for 28,284 vulnerable women, and Aliko Dangote’s foundation will match each woman’s shares.
Nigerian billionaire Aliko Dangote’s refinery IPO sparks new listing talks at Nigeria’s stock exchange
Nigerian Exchange CEO Temi Popoola says Aliko Dangote’s refinery IPO has sparked private listing talks with several companies, with listings expected from next year.
Egyptian billionaire Samih Sawiris lines up daughter to lead family's film festival
Egyptian billionaire Samih Sawiris says the Sawiris family is handing the El Gouna Film Festival to its next generation, starting with his daughter Talia.
Nigerian billionaire Abdul Samad Rabiu's charity launches program for young doctors
ASR Africa, the foundation of Nigerian billionaire Abdul Samad Rabiu, has launched a program to prepare final-year medical students for clinical work, starting in Maiduguri.
American billionaire Jensen Huang’s Nvidia set for AI partnership with Germany
Germany plans to announce an AI partnership with Nvidia next week, investing several hundred million euros as Jensen Huang visits Berlin for an investment summit.
American billionaire Brian Venturo’s CoreWeave bonds slide as AI debt fears mount
Yields on bonds from Brian Venturo’s CoreWeave climbed to about 15% this week as investors questioned the AI cloud firm’s roughly $50 billion debt.
Moroccan billionaire Anas Sefrioui's property firm lifts first-half profit 20%
Groupe Addoha, the Moroccan homebuilder controlled by billionaire Anas Sefrioui, grew first-half profit 20% and holds MAD 12.9 billion in presold homes.
French billionaire Patrick Drahi seeks $3 billion stake in US cable restructuring
Patrick Drahi is asking to keep about $3 billion of equity in a restructured Optimum Communications, while its lenders are offering him roughly $500 million.
Spanish billionaire and Zara founder Amancio Ortega buys $550 million Chicago office tower
Zara founder Amancio Ortega’s family office bought Chicago’s 51-story 1 N. Wacker Drive for about $550 million, the city’s largest office sale since 2015.
Kenyan supermarket chain Quickmart ends founder-linked contracts ahead of $231 million IPO
Quickmart terminated founder-linked consultancy contracts in July after paying hundreds of millions of shillings, disclosures show, as its Nairobi IPO runs to Oct. 30
American tennis icon Serena Williams' fund leads $3 million fashion app round
Serena Williams' venture firm led a $3 million seed round in Trace, an app that lets shoppers line up renters or buyers before purchasing clothes.
How South African founder Hendrik du Toit built Ninety One, which manages $240 billion
Hendrik du Toit started with an empty desk and less than R200 million in 1991. The firm he built, Ninety One, now manages $240 billion.
Indian billionaire Sunil Mittal's Airtel Money shares fall 7.5% below IPO price in London trading
Airtel Money shares fell to 181.28 pence in early trading on October 14, below the £1.96 IPO price that valued Sunil Mittal's African payments business at $7 billion.
South African billionaire Johann Rupert's Richemont in talks to join De Beers bid
Swiss luxury group Richemont is discussing joining a consortium seeking to acquire De Beers, a move that could give Johann Rupert's company greater control over its diamond supply chain.