Australian billionaire Andrew Forrest buys Formula E team
Andrew Forrest's Fortescue has bought Penske Autosport's Formula E operation and will race as Fortescue Zero Racing in partnership with Jaguar.
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Billionaire Jim Ratcliffe says he has lost confidence in Britain
Jim Ratcliffe told the BBC the UK economy is on the slide, blaming high taxes and immigration, and said he would return only if things improve.
French billionaire Vincent Bolloré promises President Tinubu more investment in Nigeria
Vincent Bolloré told Bola Tinubu his group will deepen its Nigerian operations, in a market where DStv and GOtv have been shedding customers.
Nigerian billionaire Emeka Okwuosa's Oilserv signs gas deal with Gabon's government
Oilserv has agreed with Gabon to develop the DEF-3 and D4-5 blocks, two months after completing its section of Nigeria's AKK gas pipeline.
Sanlam writes its stake in Anna Mokgokong's AfroCentric down to zero
Sanlam has written its 60% stake in AfroCentric down to nil after Bonitas left, but chief executive Paul Hanratty says it will not sell.
Indian billionaire Lakshmi Mittal buys a South African cricket team and two others for $1.65 billion
India's competition regulator approved Lakshmi Mittal and Adar Poonawalla's $1.65 billion purchase of Rajasthan, Paarl and Barbados Royals.
South African executive Francois Gouws owns $51 million stake in PSG Financial Services
Francois Gouws owns a stake in PSG Financial Services worth R829 million.
South African billionaire Johann Rupert takes no salary at Remgro but collects $32.8 million in dividends
Johann Rupert draws no salary from Remgro. He is collecting $32.8 million in dividends after headline earnings rose 42.3% to $685 million.
Canadian billionaire Frank Stronach will not go to jail for indecent assault, Ontario judge says
Justice Anne Molloy said she is firmly settled that Frank Stronach, 94, will not receive a jail term for his indecent assault conviction.
Billionaire LeBron James's wife Savannah buys into a Los Angeles volleyball team
Savannah James has taken a stake in LOVB Los Angeles, a women's volleyball franchise launching in 2027, alongside Issa Rae and Alexis Ohanian.
African Wealth Briefing — Fri., Sept. 18, 2026
Dangote's record refinery IPO is running, its boss defending a $49 billion valuation against US and Turkish refiners worth a quarter as much, as Nigeria's trade minister claims it could add $60 billion to the market.
The Inside Story: The Gatekeeper — How Tewodros Ashenafi Made Himself the Door Foreign Capital Walks Through to Enter Ethiopia
Ethiopia is one of the hardest markets in Africa for foreign money to enter — the state held telecoms, banking and energy for decades, land cannot be owned, and getting cash out is a struggle. When Japan Tobacco wanted in, it paid $1.4 billion and needed a local partner.
Deep-Dive Report: Generators to Syringes — How Mofid Karameh Turned Nigeria's Power Failure Into a Make-Everything Empire
Mofid Karameh arrived in Nigeria three decades ago carrying a toolbox and started repairing generators. Today his Mikano assembles pickup trucks, boats, surgical syringes, brake pads, face masks and chocolate wafers.
Wealth Intelligence: The Trader's Loss — How One Counterparty Cost Glencore $480 Million, and What Ivan Glasenberg's 10% Stake Reveals About Hidden Risk
Glencore has just taken a $480 million provision — one of the largest trading losses in its history as a public company — on a single counterparty, and now faces a $2 billion lawsuit from that same former partner.
Nigerian oil tycoon Wale Tinubu wins approval to list Oando on any exchange he chooses
Oando shareholders authorised listings on any exchange. Its liabilities exceed its assets by N530 billion and debt costs exceed operating profit.
Warren Buffett steps down as Berkshire Hathaway chair, hands over to son
Warren Buffett, 96, is stepping down as Berkshire Hathaway chairman. His son Howard takes the role, becoming guardian of the culture, not the money.