South African tycoon Stephen Saad's Aspen sells menopause drug rights for $220 million
Aspen Pharmacare, led by South African tycoon Stephen Saad, is selling the European rights to its menopause treatment Ovestin to Ennogen for €197 million.
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Egyptian billionaire Nassef Sawiris wins shareholder approval to merge OCI with Orascom Construction
OCI shareholders have approved its combination with Orascom Construction, advancing Egyptian billionaire Nassef Sawiris’s plan to create a broader infrastructure and investment platform.
American billionaire Elon Musk lost $68 billion in October as SpaceX shares slid
Elon Musk's net worth dropped about $68 billion in October to $865 billion as an AI stock sell-off pushed SpaceX shares toward their IPO price.
American billionaire Dario Amodei's Anthropic IPO set to turn staff into millionaires
Anthropic, led by billionaire siblings Dario and Daniela Amodei, is heading for a Nasdaq listing that will turn many of its 5,300 employees into millionaires.
South African billionaire Michiel le Roux gives Democratic Alliance $4.7 million in 2026
Capitec co-founder Michiel le Roux gave the Democratic Alliance R78 million in the first half of 2026, staying South Africa's biggest political donor.
Indian billionaire Mukesh Ambani’s Reliance adds $10.5 billion as shares jump 7% on record profit
Mukesh Ambani’s Reliance Industries gained about $10.5 billion in market value as shares jumped over 7% following a record $3.1 billion quarterly profit.
Canadian billionaire Changpeng Zhao’s Binance replaces 95% of $6.3 billion hack, reopens withdrawals
Changpeng Zhao’s Binance reopened withdrawals on Sunday after replacing about 95% of the $6.3 billion stolen by North Korea-linked hackers last week.
Nigerian billionaire Jim Ovia’s Zenith Bank stake loses $65.5 million in October
Jim Ovia’s Zenith Bank stake lost about $65.5 million in October as the lender’s shares fell 11.2% in a broad Nigerian banking selloff.
African Wealth Briefing — Mon., Nov. 2, 2026
Africa's ten richest are now worth $142.5 billion, with Aliko Dangote close to 39% of it. South Africa's Rupert, Oppenheimer and le Roux families are lining up their heirs. And Idrissa Nassa's Coris Bank posted a $106 million nine-month profit.
Deep-Dive Report: The November Rich List — How Dangote Pulled $24 Billion Ahead, Why Rupert Fell, and What Moves Africa's Ten Largest Fortunes
Africa's ten richest are worth $142.5 billion, up $21.2 billion since September, and Aliko Dangote accounts for 39% of it. The other nine together lost ground. A name-by-name deep-dive on what drives each fortune, why the estimates differ, and what could move the list next.
The Inside Story: The Banker of the Sahel — How Idrissa Nassa Turned a Struggling Ouagadougou Lender Into a $9 Billion Group, and What His Push Into Central Africa Will Test
Idrissa Nassa started out trading bicycle parts in 1984. In 2001 he bought a struggling Burkinabe lender, and today Coris has about $9 billion in assets and a share price up 196% this year. How the trader built the bank, and what his move into Central Africa will test.
Wealth Intelligence: The Heirs — How the Rupert, Oppenheimer and Le Roux Families Are Passing On $30 Billion, and What Succession Means for Richemont, Capitec and South African Capital
Johann Rupert is 76, Nicky Oppenheimer 81 and Michiel le Roux 77. Between them they control about $30 billion, and each family is handing over in a different way. How the structures work, what the heirs have done, and what succession means for Richemont, Capitec and their investors.
Aradel, backed by five African billionaires, lifts nine-month revenue to $2.9 billion
Aradel Holdings, in which five African billionaires own about a quarter, raised nine-month revenue sevenfold to ₦3.95 trillion after absorbing Shell's former onshore fields.
Nigerian aviation tycoon Aderemi Makanjuola’s Caverton posts $10 million nine-month loss
Caverton Offshore Support Group, controlled by Nigerian tycoon Aderemi Makanjuola, nearly tripled its nine-month loss to ₦13.7 billion as finance costs mounted.
Egyptian billionaire Ahmed Elsewedy's Elsewedy Electric moves into elevators
Elsewedy Electric, the industrial group run by Egyptian tycoon Ahmed Elsewedy, has launched an elevator brand and wants 1 billion pounds in sales in 2027.
Namibian oil tycoon Knowledge Katti's Sintana Energy stake falls by $3.2 million
Namibian oil tycoon Knowledge Katti's stake in Sintana Energy has lost about $3.2 million in a year after the explorer's shares fell 37%.