A SpaceX-Tesla merger would create a $3.4 trillion giant that loses money every year
Elon Musk is weighing a potential merger of SpaceX and Tesla that would create the world's largest-ever company deal at $3.4 trillion.
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Egyptian tycoon Safwan Thabet's Juhayna Food doubles first-quarter profit to $13.6 million on surging sales
Egypt's Juhayna Food Industries more than doubled its first-quarter net profit in 2026 as revenue climbed sharply across dairy and juice segments.
Billionaire Dr. Dre and Rep. Maxine Waters clash over $360 million Compton School bond measure
Dr. Dre and Rep. Maxine Waters have landed on opposite sides of a $360 million Compton school bond measure ahead of Tuesday's vote.
Uganda clears Absa takeover of Standard Chartered's retail and wealth banking business
The Bank of Uganda has approved Absa Bank Uganda's takeover of Standard Chartered's retail and wealth banking operations in the country.
Benjamin Fernandes built NALA until it broke under its own growth. A $50 million credit line is how he fixes that
Benjamin Fernandes's NALA has secured a $50 million non-dilutive credit facility from Liquidity and MUFG Bank to pre-fund stablecoin cross-border payment corridors as enterprise demand from US, European and African businesses accelerates sharply.
Aliko Dangote's refinery cuts petrol and diesel prices again as crude markets ease
Aliko Dangote's refinery cut ex-depot petrol prices to ₦1,250 per liter and diesel to ₦1,700, the second reduction in a week as crude eased.
Johann Rupert's Richemont surged 11% in May and is now closing in on a R2 trillion JSE valuation
Richemont surged nearly 11% in May, pushing its JSE market cap to just under R1.9 trillion as Johann Rupert's luxury empire closes in on a historic R2 trillion milestone.
The Inside Story: The $100 Million Handshake
On May 20, two men who have been friends for 25 years stood on the same refinery jetty. One is preparing to sell a slice of the future. The other is buying in.
Executive Insight: Five Moves That Matter on the Continent
A cross-continent read on the capital decisions reshaping African wealth this week.
Wealth Intelligence: The $50 Billion Question at the Dangote Refinery
Inside the Dangote Refinery listing and what a public valuation does to Africa’s largest private fortune.
African Wealth Briefing — Mon., June 1, 2026
James Mwangi's Equity Group plans two DRC insurers as its Congo bank's profit jumps 58%. Wale Tinubu's Oando finally sets a June 12 date for its delayed 2025 audit.
Ghanaian multimillionaire Richard Nii Armah Quaye's ex-wife demands $2.5 million in divorce battle
Joana Quaye rejected RNAQ's GH¢2 million ($129,032) divorce offer as condescending and demanded GH¢40 million ($2.58 million), Accra mansions and shares in his companies.
SpaceX proxy fund investors want out before the June 12 IPO but may be trapped
Investors who rushed into SpaceX proxy funds want out as the June 12 IPO nears, but many face liquidity constraints that could leave them stuck until SPCX begins trading.
South African billionaire Michiel Le Roux donated $3.5 million to the DA in 12 months
IEC data shows Michiel Le Roux donated R58 million ($3.57 million) to the DA in 12 months, the biggest individual political donation in South African history.
Aspen Pharmacare's $1.6 billion APAC sale adds $33 million to Stephen Saad's net worth
Aspen Pharmacare shares surged 7% after completing its R27bn APAC sale, adding approximately R550 million ($33.5 million) to Stephen Saad's fortune in a single trading session.
Elon Musk's SpaceX cuts its IPO target to $1.8 trillion after a $4.28 billion Q1 loss
SpaceX lowered its IPO target to $1.8 trillion after a $4.28 billion Q1 loss, but retail investors have poured $14 billion into proxy funds since December.