African Wealth Briefing — Fri., June 12, 2026
Johann Rupert’s Remgro wins control of 50 hospitals in a $950 million deal. Kwabena Adjei’s Kasapreko doubles its IPO target ahead of Monday’s listing.
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Tycoon Sandile Zungu's Madagascar nickel mine is back in production after a cyclone knocked it out for four months
Madagascar's Ambatovy nickel mine, being acquired by Sandile Zungu's ZICO consortium, has restarted production after a four-month shutdown caused by Cyclone Gezani damage.
Elon Musk becomes the world's first trillionaire as SpaceX begins trading
Elon Musk has become the world's first trillionaire as SpaceX begins trading on the Nasdaq at $135 per share in the largest IPO in history.
Africa's richest man has publicly donated $47 million to charity so far in 2026
Aliko Dangote has publicly donated at least $47 million to named causes in the first six months of 2026 through his foundation and personal gifts.
Kevin Durant became the NBA's highest-paid player ever with $598 million in career earnings
Kevin Durant is the highest-paid player in NBA history at $598 million in career earnings, and his off-court empire may ultimately prove even more consequential.
Kanye West's Prague concert is cancelled as another European venue refuses to host him
Kanye West's Prague concert scheduled for July 25 has been cancelled after the venue owner terminated the organiser's contract, the latest in a growing series of cancellations.
Don Peebles built an $8 billion real estate empire one public-private deal at a time
Don Peebles turned a Washington D.C. tax assessment hustle into an $8 billion real estate empire spanning hotels, condos and historic landmarks across America's gateway cities.
Diana Ross built a $250 million fortune across six decades and at 81 she is still touring
Diana Ross built a $250 million fortune across six decades of music, film, real estate and catalog royalties, and at 81 she is still performing.
David Robinson earned $116 million in the NBA and built a $200 million fortune
David Robinson delayed his NBA career to serve in the Navy, then turned a Hall of Fame run into a $3 billion real estate firm.
John W. Rogers Jr. bought $263,700 worth of Ryan Specialty shares as the stock fell 54% in a year
Ariel Investments co-CEO John W. Rogers Jr. made a $263,700 insider purchase in Ryan Specialty on June 10 as the stock trades near a one-year low.
Ahmed Abou Hashima bet $1 billion on Egyptian steel at 35 and became one of Egypt's most powerful industrialists
Ahmed Abou Hashima invested over $1 billion at 35 to build Egyptian Steel and has since expanded into cement, media, agriculture, solar energy and banking.
Canada just found Elon Musk's Grok guilty of violating privacy laws over sexualised deepfake images
Canada's privacy commissioner has found Elon Musk's Grok violated federal privacy law by launching an image generator that creates sexualised deepfake images without user consent.
Billionaire Zak Calisto's Cartrack faces scrutiny after a 29-year-old employee died at its Rosebank office
Zak Calisto's Cartrack is under scrutiny after 29-year-old employee Gcina Dhladhla died at its Rosebank head office on June 6, prompting calls for a Labour Department investigation.
Nigerian banking tycoon Aigboje Aig-Imoukhuede says Access Holdings is done buying banks after 20 acquisitions
Access Holdings chairman Aigboje Aig-Imoukhuede says the group has concluded 20 acquisitions in 20 years and is now shifting focus entirely to shareholder returns.
Dangote Refinery raises $1 billion at $39 billion valuation ahead of IPO
Dangote Petroleum Refinery is raising $1 billion through a private placement at a $39.1 billion valuation with demand already exceeding $2 billion ahead of its pan-African IPO.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
Family Bank has received Capital Markets Authority approval to list on the Nairobi Securities Exchange on June 23 after raising KES 8 billion ($61.8 million) in 2025.