Burkinabè banker Idrissa Nassa leads a business push into Nigeria after the ECOWAS split
Larry Ellison has spent decades borrowing against Oracle shares rather than selling. He now plans to sell up to $7.5 billion of them by Oct. 24.
Latest
Billionaire Larry Ellison prepares to sell $7.5 billion of Oracle stock as shares collapse
Larry Ellison adopted a 10b5-1 plan in June to sell up to 50 million Oracle shares through Oct. 24, worth about $7.5 billion at current prices.
South African billionaire Johann Rupert's Remgro expects earnings to rise as much as 47%
Remgro, chaired by South Africa's Johann Rupert, expects headline earnings per share to rise between 37% and 47% for the year to June.
Billionaire Larry Ellison's Oracle has a record $664 billion of contracted AI revenue
Larry Ellison’s Oracle has reached $664 billion in remaining performance obligations as demand for AI cloud infrastructure drives record growth in its contracted revenue.
Billionaire Mukesh Ambani’s Reliance to raise $1.3 billion in first rupee bond sale since 2023
Billionaire Mukesh Ambani’s Reliance Industries plans to raise $1.31 billion through five-year rupee bonds, its first domestic bond sale since November 2023.
Chinese AI chip founders are worth $2.1 billion each at a company that has never made a profit
Shanghai Enflame has fewer than 900 staff, one major customer and has never turned a profit in eight years. Its two founders, both ex-AMD engineers, are now worth $2.1 billion each and their biggest customer is also their biggest shareholder.
Dangote refinery secures 16 million barrels for October
Dangote refinery has secured at least 16 million barrels of Nigerian crude for October, roughly 520,000 barrels a day. Feedstock supply is the question facing investors when the $1.55 billion offer opens on Monday.
Lego's billionaire owners to double $1.6bn climate portfolio
Lego abandoned its attempt to make bricks from recycled bottles in 2023 because it raised emissions. The family office behind the company is now doubling a $1.6bn climate fund and putting money into the recycling industry instead.
Zambia presses Indian billionaire Anil Agarwal's Vedanta to fund power for its copper mine
Zambia's president has urged Anil Agarwal's Vedanta to accelerate power investment to support its copper expansion at Konkola Copper Mines.
Billionaire Tiger Woods' golf venture is closing in on a $1bn valuation
The company Tiger Woods built with Rory McIlroy is finalising a round that values it above $1 billion, double its mark two years ago. It runs TGL, launches a women's league in November, and is building the NFL's flag football league.
Kenya's wealthy Merali family acquires stake in pharmaceutical glass plant
The family of the late Naushad Merali is taking half of a pharmaceutical glass plant at Mombasa's Dongo Kundu economic zone.
Aliko Dangote's sugar unit adds 67% more shares in $356 million raise
Dangote Sugar's share count has risen by two-thirds after 8.1 billion new shares from its rights issue were listed in Lagos. The N485.9 billion raised was meant to cut debt that stood at more than four times equity, but the proof will not appear until the next quarterly accounts.
Billionaire Alex Beard pleads not guilty to Nigeria, Cameroon bribery charges
Billionaire Alex Beard, the former head of oil at Glencore, has pleaded not guilty to UK bribery charges linked to alleged corrupt payments involving officials in Nigeria and Cameroon.
Billionaire Lee Jae-yong is buying $1.4 billion of Samsung stock from his own mother
Samsung chairman Lee Jae-yong will buy $1.4 billion of shares from his mother Hong Ra-hee, who borrowed to pay a record inheritance tax bill.
Media mogul Byron Allen renews ABC deals as he sells stations
Byron Allen has renewed ABC affiliations across seven markets while continuing to shrink his broadcast portfolio. Ten stations have already gone to Gray Media for $171 million, and locked-in network deals are what make the rest worth buying.
Elon Musk’s Boring Company raises $3 billion at $23 billion valuation
Billionaire Elon Musk’s Boring Company has raised $3 billion at a $23 billion valuation, more than quadrupling its valuation since 2022 as it expands its underground transportation projects.