Indian billionaire Sridhar Vembu freezes Zoho pay rises as AI costs soar
Zoho founder Sridhar Vembu has told staff there will be no pay rise this year, blaming a fourfold jump in server prices driven by AI.
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French billionaire Bernard Arnault's fortune falls to $132 billion as LVMH sales slip
LVMH chairman Bernard Arnault's fortune keeps shrinking after a drop in Louis Vuitton and Dior sales in China sent the luxury giant's shares lower again.
Indian billionaire Mukesh Ambani overtakes Gautam Adani as India's richest person again
Reliance chairman Mukesh Ambani has passed Gautam Adani on Forbes' real-time list as a selloff in Adani Group shares cut the ports tycoon's fortune.
South African billionaire Michiel le Roux's bank Capitec sheds its rental finance arm
Capitec, co-founded by billionaire Michiel le Roux, is selling its rental finance unit to Sasfin, and CEO Graham Lee calls it the "odd one out."
Nigerian businesswoman Aisha Achimugu loses $7.5 million suit against anti-graft agency
A Federal High Court in Abuja has dismissed oil tycoon Aisha Achimugu's 10 billion naira rights suit over an EFCC search of her home.
Nigerian billionaire Aliko Dangote's refinery moves to appeal ruling backing fuel imports
Aliko Dangote's refinery has asked Nigeria's Court of Appeal for leave to challenge a judgment that keeps fuel import licences flowing to three rival marketers.
Egyptian billionaire Naguib Sawiris's family seeks $150 million in London fraud trial
The family investment arm of Egyptian telecom billionaire Naguib Sawiris has opened a 10-week London trial over an alleged foreign exchange fraud.
Elon Musk gives $276 million to Republicans in three months, becoming the midterms’ biggest donor
Elon Musk has given more than $276 million to Republican groups since July, making him the largest known donor of the 2026 midterms.
The 5 African billionaires with major stakes in Africa's 10 biggest banks
Five African billionaires, including Morocco's King Mohammed VI and Femi Otedola, hold stakes worth about $14 billion in four of Africa's biggest banks.
French billionaire Patrick Drahi puts $25 million into a Caribbean island's airport
Patrick Drahi, the billionaire behind Altice and Sotheby's, is funding a longer runway and private jet apron on Nevis, the island he calls home.
Malagasy tycoon Mamy Ravatomanga denied bail again in Mauritius
A Mauritius court has refused bail to Mamy Ravatomanga, held for almost a year in a money laundering case. His lawyers will appeal.
Nigerian billionaire Aliko Dangote extends his $1.6 billion refinery IPO
Aliko Dangote has extended his $1.6 billion refinery IPO by two weeks to let more Africans buy shares, saying demand already far exceeds the offer.
South African tycoon Mzi Khumalo risks losing his Zimbabwe gold mines
A $70 million payment Mzi Khumalo guaranteed for his Zimbabwe gold mines is unpaid, and his family trust's shares are pledged as security.
Zimbabwean billionaire Kudakwashe Tagwirei is sworn in as a cabinet minister
Kudakwashe Tagwirei, the US-sanctioned fuel and mining tycoon seen as President Mnangagwa's favored successor, has been sworn in as Zimbabwe's investment minister.
South African billionaire Koos Bekker is buying up a corner of England
Koos Bekker, the billionaire who turned Naspers into a Tencent fortune, now owns more than 2,700 acres of Somerset farmland, pubs and shops.
Chinese billionaire Zhou Yahui's OPay wins up to $200 million Standard Bank backing
Standard Bank will invest up to $200 million in OPay, the Nigerian fintech backed by Chinese tycoon Zhou Yahui, alongside its New York IPO.