Nigerian-born billionaire Bassim Haidar has given Farage's Reform UK another £192,000
Bassim Haidar, born in Nigeria to Lebanese parents, gave Reform UK £192,000 between April and June, taking his disclosed total past £547,000.
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Dangote refinery IPO priced at N525 a share, valuing it at $47 billion
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
Billionaires Bezos and Gates join $188 million round for AI drug discovery firm
Family offices made 52 direct investments in August and about a fifth went to biotech. Jeff Bezos and Bill Gates both backed LifeMine Therapeutics, which uses AI to search fungal genomes for new drugs.
African Wealth Briefing — Fri., Sept. 4, 2026
Nigeria rejoins FTSE's frontier index on September 21, handing ten of its giants — Dangote Cement, First HoldCo, MTN — a wave of global passive capital, while BUA, UBA and Seplat are left out. And Aliko Dangote said his refinery's $5 billion IPO, set to be Africa's largest, opens within twelve days.
The Inside Story: The Rule-Maker — How Jean Kacou Diagou Co-Wrote Africa's Insurance Rulebook, Then Built NSIA Into a 12-Country Empire in the Market He Regulated
Jean Kacou Diagou helped write the insurance rulebook for 14 African countries — then quit to compete in the market he'd regulated. From a €457,000 start in 1995 he built NSIA into a 12-country bank-insurance group. This week he pruned it, exiting Nigerian life insurance.
Deep-Dive Report: The Last Empire — Inside the €7 Billion Castel Group, Africa's Biggest Brewer, and the Family War Now Headed to a Singapore Court
The Castel Group is Africa's biggest brewer outside South Africa, sells ~€7 billion a year, and almost no one has heard of it. Now the 99-year-old founder's heirs are at war with the CEO he installed — fought inside a Singapore trust, headed for a courtroom this autumn.
Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat
Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.
6 Nigerian billionaires have companies joining the FTSE frontier index this month
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Billionaire Michael Dell's fortune gains $107 billion in 2026 on AI server boom
Michael Dell has added $107 billion to his fortune this year, a gain second only to Elon Musk's, after Dell Technologies posted record quarterly results and its shares tripled on demand for AI servers. He now ranks fifth on the Bloomberg Billionaires Index.
VW, controlled by billionaire Porsche-Piëch family, cuts 50,000 more jobs
Volkswagen's board has approved 50,000 further job cuts, doubling reductions since 2024. About half fall in Germany. The company has not said where the rest land and South Africa's Kariega plant builds every Polo in the world.
Elon Musk's SpaceX regains $2 trillion valuation in tech rally
SpaceX closed 6.4% higher on Thursday, clearing $150 a share and restoring a $2 trillion market value for the first time since early July, as a broad technology rally and an Oppenheimer target increase lifted Elon Musk's rocket and satellite company.
Zulu royal household demands clarity on billionaire Robert Gumede's Tongaat Hulett deal
Zulu Royal Chancellor Malusi Zondi gave Trade Minister Parks Tau five business days to explain the IDC transaction involving Tongaat Hulett.
Billionaire Patrice Motsepe to collect $67.7 million in ARM dividends
ARM's 700-cent final dividend takes Patrice Motsepe's payout for the year to about R1.09 billion, on a holding of 91.1 million shares.
Billionaire Leon Black is suing the House committee investigating Jeffrey Epstein
Leon Black asked a federal court to block House subpoenas seeking documents about his dealings with Jeffrey Epstein, calling them a fishing expedition.
Nepalese billionaire Binod Chaudhary's Wai Wai factory has been ordered to halt production
Billionaire Binod Chaudhary’s Wai Wai business faces regulatory action in India after inspectors found alleged food safety violations at a Rajasthan factory.
Patrice Motsepe's African Rainbow Minerals profit jumped twelve-fold to $248 million
African Rainbow Minerals lifted revenue 25% to R16.3 billion and swung from a gross loss to R4.4 billion profit in the year to June 30.