Hip-hop’s first billionaire Jay-Z scores legal win, pocketing $7.2 million
The legal saga began in 2016 when Parlux, renowned for its ties with pop culture icons and fashion houses, filed a lawsuit against Jay-Z.
African Billionaires
World’s richest Black woman Oprah Winfrey settles trademark lawsuit over ‘Oprahdemics’ podcast
Despite losing more than $100 million in 2022, the “Queen of Talk” remains the World’s richest Black woman.
Burkinabe tycoon Idrissa Nassa’s Coris Bank acquires Societe Generale’s assets in Mauritania, Chad
The latest move places Nassa-led bank as a key player among the new generation of emerging lenders.
CEO of MTN, Africa’s largest telecom group, rakes in $1.1-million salary in 2022
Ralph Mupita’s annual remuneration dropped significantly to $1.13 million in 2022, compared to the $1.4 million he received in 2021.
Consortium comprising Egyptian tycoon Hassan Allam’s firm secures land for $10-billion project
Hassan Allam Holding, led by Allam and his brother Amr, is one of the largest privately held corporations in Egypt.
Kenyan tycoon Julius Mwale’s $2-billion smart city project expands to Botswana
The expansion of MMTC to Botswana underscores Mwale’s dedication to fostering innovation and sustainable development across Africa.
Aisha Bowe, first Black woman to embark on commercial space flight, secures $1-billion contract
Bowe made history in 2022 as the first Black woman confirmed to fly with Jeff Bezos’ Blue Origin commercial spacecraft company.
Egypt’s richest man Nassef Sawiris loses more than $67 million in 2023
Despite the decline in his net worth, Sawiris remains a prominent figure among African business leaders.
CEO of Africa’s largest bank Alan Pullinger nets $1.6-million gain in nine days
Pullinger holds a 0.1-percent stake in FirstRand.
Kenyan banker Gideon Muriuki’s Co-op Bank to transform banking experience with $50-million platform
Muriuki revealed that the core banking system upgrade, which aims to propel the bank to the “next growth frontier.”
Swazi billionaire Natie Kirsh hit hard as year-to-date wealth losses surpass $170 million
Kirsh’s stake in Jetro Holdings is worth $4.76 billion, accounting for the majority of his $7.28-billion fortune.
Ahmed El-Sewedy’s ed-tech firm prepares to launch educational institution in Egypt
Under El-Sewedy’s leadership, the group’s ed-tech firm aims to establish universities that adopt innovative educational approaches.
Kenyan tycoon Baloobhai Patel transfers $1.62-million stake in Sanlam Kenya to Aksaya
This comes shortly after Patel transferred his 4.12-percent stake in Bamburi Cement to Aksaya, his private investment office.
Nigerian billionaire TY Danjuma earns $500,000 dividend from pharma company
TY Danjuma holds a 43.28 percent stake in May & Baker Plc, the oldest pharmaceutical company on the Nigerian Stock Exchange.
Nigerian billionaire Mike Adenuga’s stake in Conoil soars by $59.7 million
Adenuga holds a majority 74.4-percent stake in the company, solidifying his position as a leading investor on the Nigerian Exchange.
Egyptian billionaire Yasseen Mansour’s Palm Hills faces profit decline in Q1 2023
Under Mansour’s leadership, the firm delivered exceptional financial results at the end of the 2022 fiscal year.