Canadian billionaire Tobi Lutke's fortune jumps $5 billion despite voting backlash
The Shopify co-founder's net worth has climbed to $15 billion since July, even as his comments on voting rights and politics drew criticism at home.
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Bill Gates prepares a major personal push on AI safety
The Microsoft co-founder is preparing to press technology executives and may commit significant personal resources to push for stricter oversight of artificial intelligence.
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
Belizean banker Dr. Luigi Wewege on the unstoppable global rise of African wealth
Caye International Bank president Luigi Wewege says African wealth is going global, and banks must understand clients market by market to keep up.
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.
South African billionaire Jannie Mouton's PSG grows client assets to $35.7 billion
PSG Financial Services, part of the empire built by billionaire Jannie Mouton, grew assets under management 15% to R594.1 billion as earnings rose 5%.
South African property tycoon Des de Beer acquires more Lighthouse shares
Delsa Investments, linked to South African property tycoon Des de Beer, bought 5.5 million shares in European mall owner Lighthouse Properties for R44.8 million.
South African billionaire Johann Rupert to collect $22.8 million in Remgro dividends
Rupert Beleggings, which holds Johann Rupert's controlling B shares in Remgro, is due R379.6 million when the investment group pays final and special dividends.
Elon Musk says SpaceX could top $100 trillion within 10 years as Tesla merger talk builds
Elon Musk says SpaceX could be worth more than $100 trillion within 10 years, as Barclays outlines a possible Tesla merger.
African Wealth Briefing — Fri., Oct. 16, 2026
The Dangote refinery made $4.73 billion in nine months, and its IPO now runs to October 27. Airtel Money opened below its offer price in London, while MNT-Halan drew 11 times demand in Cairo. And Patrice Motsepe faced a testing week in mining and in football.
Billionaire TY Danjuma leads $3.75 million drive to restore his 111-year-old alma mater
Retired Lt. Gen. TY Danjuma, a Nigerian billionaire, is leading a N5 billion drive, about $3.75 million, to rehabilitate Government College Katsina-Ala in Benue State.
The Inside Story: Two Fronts — How Patrice Motsepe Built a Mining Fortune and a Football Presidency, and the Week Both Came Under Pressure
In 1997 a young Johannesburg lawyer bought gold shafts the big miners were giving up. Today Patrice Motsepe runs African Rainbow Minerals and African football. This week both came under pressure: a lawsuit from his mining partner and unrest inside CAF. The man, and the two fronts.
Deep-Dive Report: After the Bell — Airtel Money Slips Below Its Offer, MNT-Halan Draws 11 Times Demand, and What Africa's Listing Window Has Taught Us So Far
Airtel Money opened below its offer price in London. MNT-Halan's institutional book was covered 11 times. Dangote extended his IPO, and Firmus pulled a $30 billion listing in Sydney. The first results from Africa's listing window, and what they tell investors about the rest.
Investor Memo: Seven Times Earnings — What the Dangote Refinery's Nine-Month Numbers Say About the ₦525 Share Price
Nine months, $4.73 billion of net profit and a $650 million net cash pile. At ₦525 a share the Dangote refinery is priced at roughly seven and a half times its annualised earnings. Why the multiple is so low, what could justify it, and what to check before October 27.
Nigerian billionaire Aliko Dangote's cement giant lines up $1 billion London listing
Africa's richest man is preparing to sell about 10% of Africa's largest cement maker to global investors through a London listing as soon as November.