Billionaire Mike Ashley tightens grip on Hugo Boss as chairman steps down
Billionaire Mike Ashley is tightening his grip on Hugo Boss as Frasers Group raises its stake to 48% and targets majority control of the German fashion house.
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Nigerian billionaire Aliko Dangote crosses $50 billion on the Forbes list
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
Billionaire Patrice Motsepe's Kropz to cut staff at $160m phosphate mine
Patrice Motsepe has put about $160 million into a phosphate mine outside Cape Town since 2018. It never reliably produced. Now Kropz is cutting its own staff, letting the mining contract lapse, and mothballing most of the plant.
Indonesia's billionaire Hartono family moves $1.4 billion offshore
Nine entities in Singapore and London tied to the Hartono family have invested at least $1.4 billion abroad since late 2023, Bloomberg reports.
Billionaire Aliko Dangote says refinery could pursue U.S. secondary listing
Billionaire Aliko Dangote says his refinery could pursue a U.S. secondary listing in about three to four years after establishing a public trading record in Nigeria.
Michael Dell's family office buys Baldwin Insurance for $7.7bn
Michael Dell made $107 billion this year on AI servers. He is now spending some of it on an insurance broker, bought alongside an AI holding company, at an 88 per cent premium, and taken off the public market entirely.
Billionaire Bernard Arnault has lost $65bn this year, more than anyone
Bernard Arnault's fortune has fallen by $65 billion since January, the steepest decline among the world's 500 wealthiest. LVMH shares trade at less than half their 2023 level, and for the first time since 2012 every one of the ten richest people is American.
France asks the EU to lift sanctions on Russian billionaire Alisher Usmanov
France has joined Slovakia in asking the EU to remove Alisher Usmanov from its sanctions list, days before the measures expire on Sept. 15.
Second crypto billionaire donates $49 million to Reform UK
Thailand-based investor Christopher Harborne gave Reform UK $48.7 million, matching a donation from fellow billionaire Ben Delo a day earlier.
Billionaire Masayoshi Son borrows $11.87 billion more for his OpenAI bet
SoftBank secured an $11.87 billion two-year loan from about 20 banks, exceeding its $10 billion target, to fund its OpenAI investment.
South African tycoon Sello Moloko went from teaching maths to a multi-million-dollar investment group
Sello Moloko taught school on R180 a month before building Thesele Group into an investment company spanning finance, cars, water and power.
Nigerian billionaire Aliko Dangote opens Africa's biggest share sale at a $49 billion valuation
The Dangote refinery IPO opened on Sept. 14, offering 4.1 billion shares at N525 to raise $1.63 billion. Trading begins on the NGX in November.
African Wealth Briefing — Mon., Sept. 14, 2026
Africa's largest-ever IPO opens today: Dangote's refinery begins selling ₦2.15 trillion of shares to a target of 10 million Nigerians.
The Inside Story: Petrol, Noodles and Tricycles — How Uche Ogah Quit a Zenith Bank Corner Office to Build a Sell-Everything Nigerian Empire
Uche Ogah registered his own oil company while still an assistant general manager at Zenith Bank, then quit to build Masters Energy — fuel, noodles, tricycles, gas, plastics. The story of a banker who bet on selling everything to everyone, and then ran for office.
Deep-Dive Report: The $100 Million Club — The 17 Investors Who Own $37.7 Billion of the Nigerian Exchange, and Why Two Men Hold Three-Quarters of It
Just 17 investors hold $37.7 billion of Nigerian-listed shares — and two men, Abdulsamad Rabiu and Aliko Dangote, own three-quarters of it. Inside the NGX's $100 Million Club, the concentration behind it, and why the biggest paper fortunes are also the most fragile.
Investor Memo: The American Bet — How Washington's $100 Million Loan to Ziad Dalloul's Africell Makes One Telecom the Front Line Against Huawei in Africa
Washington is lending nearly $100 million to Ziad Dalloul's Africell — Africa's only American-owned telecom — to buy US kit instead of Huawei's. A deal that turns one operator into the front line of the US-China contest for Africa's networks. The memo on what it means.