African Wealth Briefing — Sun., June 14, 2026
A Sunday week-in-review: the deals, reversals and milestones that moved African fortunes this week — from Dangote's march toward $40 billion to a wave of energy consolidation.
Latest
South African fashion tycoon Michael Lewis just bought $5 million of stock in his own retail empire
TFG non-executive chairman Michael Lewis has bought R83 million ($5 million) worth of shares in the South African retail group, nearly doubling his personal stake.
South Africa's president is worth over $500 million but a $580,000 farm scandal is threatening his presidency
Forbes last put Cyril Ramaphosa's net worth at $450 million in 2015. Eleven years on he is likely worth far more and is still fighting a $580,000 scandal.
Dangote Refinery is ramping up Nigerian crude purchases as the Iran war disrupts global oil markets
Dangote Refinery is ramping up purchases of Nigerian crude as the Iran war reduces overseas demand for West African grades and lifts Nigerian crude premiums.
Kenyan businesswoman Mary Wambui has days to pay $775,000 or lose her $73.6 million hotel
Kenya's High Court has ordered billionaire Mary Wambui to deposit KES 100 million ($775,000) within seven days or Equity Bank will auction her KES 9.5 billion Glee Hotel.
US billionaire Kenn Ricci's Flexjet just bought TikTok's most famous aircraft broker
Flexjet has acquired London aircraft brokerage The Jet Business and named its founder Steve Varsano, who has 2.5 million TikTok followers, as its new president.
Billionaire Magic Johnson says the NBA's future is bright and the Knicks are leading the way
Magic Johnson says he was once scared about the NBA's future after LeBron, Durant and Curry retire but the Knicks have convinced him otherwise.
African Wealth Briefing — Sat., June 13, 2026
The world mints its first trillionaire. On the continent, Aliko Dangote's 2026 giving tops $47 million and Sandile Zungu's nickel mine roars back to life.
Kanye West draws 70,000 in Tbilisi after 118,000 in Istanbul
Kanye West sold out Tbilisi's Boris Paichadze Dinamo Arena with 70,000 fans on June 12, days after drawing a record 118,000 to Istanbul's Ataturk Olympic Stadium.
Billionaire Michael Jordan's private dining club 1000 North is expanding from Jupiter to Sarasota later this year
Michael Jordan is a founding partner of 1000 North, a Jupiter private club now expanding to Sarasota where his members-only dining empire opens this fall.
African Wealth Briefing — Fri., June 12, 2026
Johann Rupert’s Remgro wins control of 50 hospitals in a $950 million deal. Kwabena Adjei’s Kasapreko doubles its IPO target ahead of Monday’s listing.
Tycoon Sandile Zungu's Madagascar nickel mine is back in production after a cyclone knocked it out for four months
Madagascar's Ambatovy nickel mine, being acquired by Sandile Zungu's ZICO consortium, has restarted production after a four-month shutdown caused by Cyclone Gezani damage.
Elon Musk becomes the world's first trillionaire as SpaceX begins trading
Elon Musk has become the world's first trillionaire as SpaceX begins trading on the Nasdaq at $135 per share in the largest IPO in history.
Africa's richest man has publicly donated $47 million to charity so far in 2026
Aliko Dangote has publicly donated at least $47 million to named causes in the first six months of 2026 through his foundation and personal gifts.
Kanye West's Prague concert is cancelled as another European venue refuses to host him
Kanye West's Prague concert scheduled for July 25 has been cancelled after the venue owner terminated the organiser's contract, the latest in a growing series of cancellations.
Don Peebles built an $8 billion real estate empire one public-private deal at a time
Don Peebles turned a Washington D.C. tax assessment hustle into an $8 billion real estate empire spanning hotels, condos and historic landmarks across America's gateway cities.