Nigerian gambling magnate Kessington Adebutu suffers $6-million loss in 25 days from Wema Bank stake
Adebutu, the founder and CEO of Nigeria’s oldest and leading gaming company, Premier Lotto, holds a 28.09-percent stake in Wema Bank.
African Billionaires
Namibian tycoon Quinton van Rooyen’s Trustco to spearhead $75-million investment in Meya diamond mine
Meya Mining, a Trustco subsidiary led by van Rooyen, presently holds an extensive mining license covering 129 square kilometers in Sierra Leone.
Egyptian tycoon Medhat Khalil suffers staggering $41.5-million loss in 2023
The decline in Raya Holding’s shares and the resulting impact on Khalil’s net worth underscores the challenges investors face amid the current economic climate.
Dangote’s salt company registers $7.5-million profit in H1 2023, revenue soars beyond $49 million
Nascon Allied Industries is a prominent salt-processing company and a subsidiary of the Dangote Group, led by Nigerian billionaire industrialist Aliko Dangote.
South Africa’s Ackerman family faces $22-million loss in just two weeks
The Ackerman family holds a substantial 25.53-percent stake in Pick ‘n Pay, or 124,677,238 issued shares.
Abdul Samad Rabiu’s BUA Cement soars with more than $280 million in revenue and record-breaking profits
BUA Cement’s robust financial performance underscores its ability to weather challenges and solidifies its position as a key player in the Nigerian cement industry.
South African tycoon Laurie Dippenaar gains $26 million in just 18 days
Dippenaar holds a 1.76-percent stake in FirstRand, or 98,726,988 shares.
South African tech tycoon Zak Calisto gains nearly $40 million as Karooooo surges on Nasdaq
As a result of the recent surge in the company’s shares, the value of Calisto’s stake in Karooooo has increased from $543.7 million to $584.6 million.
Kanye West’s stake in Kim Kardashian’s shapewear line hits $200 million
West’s stake in Skims is now worth $200 million, a $40-million increase from its value of $160 million at the start of the year.
Patrice Motsepe’s mining empire suffers $1.1-billion market value wipeout in 2023
The $1.1-billion market value wipeout also impacted Motsepe’s net worth, bringing it below $2.4 billion earlier this year.
Nigerian gambling magnate Kessington Adebutu’s stake in Wema Bank dips by $6 million in 25 days
Kessington Adebutu, the founder and CEO of Nigeria’s oldest and leading gaming company, Premier Lotto Limited, holds a 28.09-percent stake in Wema Bank
South African tycoon Noluthando Gosa-linked steel company posts $25-million loss in H1 2023
ArcelorMittal South Africa is a Gauteng-based steelmaker partly owned by Gosa.
Egyptian billionaire Ahmed Ezz gains $137 million as Ezz Steel shares surge
Ezz holds a majority 60.7-percent stake in Ezz Steel, or 329,816,198 shares.
7 companies owned by Ethiopia’s richest man, Mohammed Al-Amoudi
As one of the largest investors in Sweden, Al-Amoudi owns Preem, Svenska Petroleum Exploration, and Midroc Europe.
Egyptian Khamis family gains over $50 million from stake in Oriental Weavers
The Khamis family, one of Egypt’s wealthiest, currently holds a majority stake of 40.58 percent in Oriental Weavers.
Meet Shonda Rhimes: Powerhouse producer of ‘Bridgerton,’ who ranks as one of America’s richest Black women
As a visionary producer, creative genius, and business trailblazer, Rhimes’ influence will continue to shape the future of television and storytelling.