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Egyptian billionaire Naguib Sawiris has hit a record net worth of $12.2 billion, adding $1.4 billion in a single month as surging gold prices lift the value of his La Mancha mining portfolio to new highs.
The JPMorgan chief and his wife, Judith, have donated $12 million to 12 historically Black colleges through their foundation and the United Negro College Fund.
Femi Otedola bought 95.7 million more First HoldCo shares at N131.48 on Monday, paying 6.1% less than he did ten days ago as the stock retreated.
Said Alj, the Moroccan behind Titus sardines, owns 7.206% of Sanlam Maroc, a stake worth $114 million after the Allianz Maroc merger.
Klaus-Michael Kuehne, the controlling shareholder of Swiss logistics group Kuehne + Nagel and one of Germany's richest investors, has died at the age of 89.
Hui Ka Yan, the founder of Evergrande and once China's richest man, has been sentenced to life in prison for fraud and bribery.
Morocco has another new billionaire in TGCC founder Mohammed Bouzoubaa, whose 19.3 million shares in the construction group are worth $1.62 billion.
Billionaires Christo Wiese and Johann Rupert have backed a project that has handed 24,500 title deeds to South Africans who owned their homes but not the land beneath them, unlocking generational wealth for families who had none.
Italtile's trading profit fell to R1.8 billion as dumped imports squeezed its factories. The duties it won came after year end.
Morocco's royal family holds $17.5 billion of the country's listed companies through one vehicle, Al Mada — and the kingdom minted a brand-new billionaire the same week.
ADNOC's ~$1 billion purchase of Shell's 580 South African petrol stations needed something money couldn't buy: a Black-owned local partner without which the deal couldn't close. It picked Reatile. Inside the quiet, decisive role of the empowerment partner in African dealmaking.
Morocco's royal family controls ~$17.5 billion of listed companies — two-thirds of it mining — through a single vehicle, Al Mada. A study of how great fortunes are built to hold and command entire sectors, not to be counted. A look inside the structure, not the person.
In 1984 Idrissa Nassa moved bicycle parts across West African borders. Today he controls a $9 billion banking group in eleven countries — built by serving the traders big banks ignored — and just pledged to mobilise $712 million for Burkina Faso's hospitals and schools.
Hanneli Rupert, daughter of Richemont chairman Johann Rupert, runs the Homo Faber craft biennial in Venice, which opens for a month on Sept. 1.
Robert Gumede's Guma Group plans a $1.9 billion smart city on Mpumalanga state land, but contracts, residents and a citrus farm are unresolved.
Elon Musk has renewed his pitch for Starlink in India, targeting the country's 440 million rural internet users as SpaceX reapplies for regulatory approval to deploy its next-generation satellite constellation.